Saey & Co: 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.
Saey & Co
Largest movements
- Tangible fixed assets +€180,592
up €180,592 (+19.0%), from €948,387 to €1.1m
of which Land and buildings: +€210,820
- Receivables within one year +€42,035
up €42,035 (+22.9%), from €183,514 to €225,549
of which Other amounts receivable: +€82,874
- Cash -€30,895
down €30,895 (-16.9%), from €182,887 to €151,992
mainly Investment in fixed assets (net) (-€260,778) and Trade debts (-€103,935)
- Reserves +€149,111
up €149,111 (+26.5%), from €562,391 to €711,502
- Trade debts -€103,935
down €103,935 (-77.2%), from €134,558 to €30,623
- Debts after one year +€89,509
up €89,509 (+15.3%), from €583,164 to €672,673
- Tax, wage and social debts +€53,619
up €53,619 (+123%), from €43,604 to €97,223
of which Taxes: +€57,348
- Gross operating margin -€45,369
down €45,369 (-6.3%), from €715,178 to €669,809
- Taxes -€44,366
down €44,366 (-44.8%), from €98,997 to €54,631
- Staff costs -€32,370
down €32,370 (-8.9%), from €364,273 to €331,903
- Depreciation -€20,046
down €20,046 (-20.0%), from €100,232 to €80,186
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 | €1,351,289 | €1,530,621 | +€179,332 | +13.3% |
| Fixed assets | 21/28 | €948,387 | €1,128,979 | +€180,592 | +19.0% |
| Tangible fixed assets | 22/27 | €948,387 | €1,128,979 | +€180,592 | +19.0% |
| Land and buildings | 22 | €879,888 | €1,090,708 | +€210,820 | +24.0% |
| Plant, machinery and equipment | 23 | €9,319 | - | -€9,319 | |
| Furniture and vehicles | 24 | €25,835 | €3,305 | -€22,530 | -87.2% |
| Other tangible fixed assets | 26 | €33,345 | €34,966 | +€1,621 | +4.9% |
| Current assets | 29/58 | €402,902 | €401,642 | -€1,260 | -0.3% |
| Stocks and contracts in progress | 3 | €36,501 | €24,101 | -€12,400 | -34.0% |
| Stocks | 30/36 | €36,501 | €24,101 | -€12,400 | -34.0% |
| Amounts receivable within one year | 40/41 | €183,514 | €225,549 | +€42,035 | +22.9% |
| Trade receivables | 40 | €89,233 | €48,394 | -€40,839 | -45.8% |
| Other amounts receivable | 41 | €94,281 | €177,155 | +€82,874 | +87.9% |
| Cash at bank and in hand | 54/58 | €182,887 | €151,992 | -€30,895 | -16.9% |
| Total equity and liabilities | 10/49 | €1,351,289 | €1,530,621 | +€179,332 | +13.3% |
| Equity | 10/15 | €580,991 | €730,102 | +€149,111 | +25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €562,391 | €711,502 | +€149,111 | +26.5% |
| Non-distributable reserves | 130/1 | €562,391 | €711,502 | +€149,111 | +26.5% |
| Reserves not available under the articles | 1311 | €814 | €814 | = | 0.0% |
| Other | 1319 | €561,577 | €710,688 | +€149,111 | +26.6% |
| Amounts payable | 17/49 | €770,298 | €800,519 | +€30,221 | +3.9% |
| Amounts payable after more than one year | 17 | €583,164 | €672,673 | +€89,509 | +15.3% |
| Financial debts | 170/4 | €583,164 | €672,673 | +€89,509 | +15.3% |
| Amounts payable within one year | 42/48 | €187,130 | €127,846 | -€59,284 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €8,968 | - | -€8,968 | |
| Trade debts | 44 | €134,558 | €30,623 | -€103,935 | -77.2% |
| Suppliers | 440/4 | €134,558 | €30,623 | -€103,935 | -77.2% |
| Taxes, remuneration and social security | 45 | €43,604 | €97,223 | +€53,619 | +123% |
| Taxes | 450/3 | €15,552 | €72,900 | +€57,348 | +369% |
| Remuneration and social security | 454/9 | €28,052 | €24,323 | -€3,729 | -13.3% |
| Accrued charges and deferred income | 492/3 | €4 | - | -€4 | |
| Remuneration, social security and pensions | 62 | €364,273 | €331,903 | -€32,370 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,232 | €80,186 | -€20,046 | -20.0% |
| Other operating charges | 640/8 | €9,736 | €9,621 | -€115 | -1.2% |
| Gross operating margin | 9900 | €715,178 | €669,809 | -€45,369 | -6.3% |
| Operating profit (loss) | 9901 | €240,937 | €248,099 | +€7,162 | +3.0% |
| Financial income | 75/76B | €475 | €93 | -€382 | -80.4% |
| Recurring financial income | 75 | €475 | €93 | -€382 | -80.4% |
| Financial charges | 65/66B | €23,234 | €23,569 | +€335 | +1.4% |
| Recurring financial charges | 65 | €23,234 | €23,569 | +€335 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €218,178 | €224,623 | +€6,445 | +3.0% |
| Income taxes | 67/77 | €98,997 | €54,631 | -€44,366 | -44.8% |
| Profit (loss) for the period | 9904 | €119,181 | €169,992 | +€50,811 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €119,181 | €169,992 | +€50,811 | +42.6% |
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 15 October 2026 via checked.be.