SAEW: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SAEW
Largest movements
- Cash -€20,902
down €20,902 (-79.0%), from €26,465 to €5,563
mainly Other debts (-€10,111) and Receivables within one year (-€8,228)
- Receivables within one year +€8,228
new in 2025: €8,228
- Other debts -€10,111
down €10,111 (-69.2%), from €14,611 to €4,500
- Trade debts -€1,806
no longer reported in 2025 (was €1,806)
- Tax, wage and social debts -€820
down €820 (-16.6%), from €4,952 to €4,132
- Gross operating margin -€19,727
down €19,727 (-74.8%), from €26,364 to €6,637
- Taxes -€4,869
down €4,869 (-74.6%), from €6,530 to €1,661
- Financial income -€499
no longer reported in 2025 (was €499)
- Other operating charges -€345
down €345 (-57.5%), from €599 to €255
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,465 | €13,791 | -€12,674 | -47.9% |
| Current assets | 29/58 | €26,465 | €13,791 | -€12,674 | -47.9% |
| Amounts receivable within one year | 40/41 | - | €8,228 | +€8,228 | |
| Trade receivables | 40 | - | €8,228 | +€8,228 | |
| Cash at bank and in hand | 54/58 | €26,465 | €5,563 | -€20,902 | -79.0% |
| Total equity and liabilities | 10/49 | €26,465 | €13,791 | -€12,674 | -47.9% |
| Equity | 10/15 | €5,096 | €5,159 | +€63 | +1.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96 | €159 | +€63 | +65.8% |
| Amounts payable | 17/49 | €21,369 | €8,632 | -€12,737 | -59.6% |
| Amounts payable within one year | 42/48 | €21,369 | €8,632 | -€12,737 | -59.6% |
| Trade debts | 44 | €1,806 | - | -€1,806 | |
| Suppliers | 440/4 | €1,806 | - | -€1,806 | |
| Taxes, remuneration and social security | 45 | €4,952 | €4,132 | -€820 | -16.6% |
| Taxes | 450/3 | €4,952 | €4,132 | -€820 | -16.6% |
| Other amounts payable | 47/48 | €14,611 | €4,500 | -€10,111 | -69.2% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Other operating charges | 640/8 | €599 | €255 | -€345 | -57.5% |
| Gross operating margin | 9900 | €26,364 | €6,637 | -€19,727 | -74.8% |
| Operating profit (loss) | 9901 | €25,765 | €6,382 | -€19,383 | -75.2% |
| Financial income | 75/76B | €499 | - | -€499 | |
| Recurring financial income | 75 | €499 | - | -€499 | |
| Financial charges | 65/66B | €138 | €158 | +€20 | +14.3% |
| Recurring financial charges | 65 | €138 | €158 | +€20 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €26,125 | €6,224 | -€19,901 | -76.2% |
| Income taxes | 67/77 | €6,530 | €1,661 | -€4,869 | -74.6% |
| Profit (loss) for the period | 9904 | €19,596 | €4,563 | -€15,033 | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,596 | €4,563 | -€15,033 | -76.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.