SAF2: 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.
SAF2
Largest movements
- Tangible fixed assets -€14,858
down €14,858 (-89.5%), from €16,610 to €1,752
of which Furniture and vehicles: -€13,779
- Cash +€7,916
up €7,916 (+81.7%), from €9,691 to €17,607
mainly Investment in fixed assets (net) (+€13,779) and Net result for the year (+€6,576)
- Stocks and contracts +€6,500
up €6,500 (+100%), from €6,500 to €13,000
- Receivables within one year +€3,841
up €3,841 (+13.0%), from €29,535 to €33,376
of which Other amounts receivable: +€9,566
- Short-term financial debts -€9,584
no longer reported in 2025 (was €9,584)
- Profit (loss) carried forward +€6,576
up €6,576 (+47.8%), from €13,745 to €20,321
- Trade debts +€3,568
up €3,568 (+17.2%), from €20,777 to €24,344
- Tax, wage and social debts +€2,709
up €2,709 (+35.5%), from €7,620 to €10,329
of which Remuneration and social security: +€2,498
- Other debts +€1,083
new in 2025: €1,083
- Depreciation -€15,333
down €15,333 (-93.4%), from €16,412 to €1,079
- Staff costs +€13,141
up €13,141 (+44.7%), from €29,418 to €42,560
- Gross operating margin +€8,046
up €8,046 (+17.1%), from €46,939 to €54,985
- Other operating charges -€1,215
down €1,215 (-43.0%), from €2,822 to €1,607
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 | €62,369 | €65,897 | +€3,528 | +5.7% |
| Fixed assets | 21/28 | €16,610 | €1,752 | -€14,858 | -89.5% |
| Tangible fixed assets | 22/27 | €16,610 | €1,752 | -€14,858 | -89.5% |
| Plant, machinery and equipment | 23 | €561 | €380 | -€181 | -32.2% |
| Furniture and vehicles | 24 | €13,779 | - | -€13,779 | |
| Other tangible fixed assets | 26 | €2,270 | €1,372 | -€899 | -39.6% |
| Current assets | 29/58 | €45,759 | €64,145 | +€18,386 | +40.2% |
| Stocks and contracts in progress | 3 | €6,500 | €13,000 | +€6,500 | +100% |
| Stocks | 30/36 | €6,500 | €13,000 | +€6,500 | +100% |
| Amounts receivable within one year | 40/41 | €29,535 | €33,376 | +€3,841 | +13.0% |
| Trade receivables | 40 | €5,725 | - | -€5,725 | |
| Other amounts receivable | 41 | €23,810 | €33,376 | +€9,566 | +40.2% |
| Cash at bank and in hand | 54/58 | €9,691 | €17,607 | +€7,916 | +81.7% |
| Deferred charges and accrued income | 490/1 | €33 | €161 | +€128 | +393% |
| Total equity and liabilities | 10/49 | €62,369 | €65,897 | +€3,528 | +5.7% |
| Equity | 10/15 | €21,760 | €28,336 | +€6,576 | +30.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,816 | €1,816 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,816 | €1,816 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,816 | €1,816 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,745 | €20,321 | +€6,576 | +47.8% |
| Amounts payable | 17/49 | €40,609 | €37,560 | -€3,048 | -7.5% |
| Amounts payable within one year | 42/48 | €37,980 | €35,756 | -€2,224 | -5.9% |
| Financial debts | 43 | €9,584 | - | -€9,584 | |
| Credit institutions | 430/8 | €9,584 | - | -€9,584 | |
| Trade debts | 44 | €20,777 | €24,344 | +€3,568 | +17.2% |
| Suppliers | 440/4 | €20,777 | €24,344 | +€3,568 | +17.2% |
| Taxes, remuneration and social security | 45 | €7,620 | €10,329 | +€2,709 | +35.5% |
| Taxes | 450/3 | €6,633 | €6,843 | +€210 | +3.2% |
| Remuneration and social security | 454/9 | €987 | €3,486 | +€2,498 | +253% |
| Other amounts payable | 47/48 | - | €1,083 | +€1,083 | |
| Accrued charges and deferred income | 492/3 | €2,628 | €1,804 | -€824 | -31.4% |
| Non-recurring operating income | 76A | - | €4,486 | +€4,486 | |
| Remuneration, social security and pensions | 62 | €29,418 | €42,560 | +€13,141 | +44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,412 | €1,079 | -€15,333 | -93.4% |
| Other operating charges | 640/8 | €2,822 | €1,607 | -€1,215 | -43.0% |
| Gross operating margin | 9900 | €46,939 | €54,985 | +€8,046 | +17.1% |
| Operating profit (loss) | 9901 | -€1,714 | €9,739 | +€11,452 | |
| Financial income | 75/76B | €119 | €0 | -€119 | -99.9% |
| Recurring financial income | 75 | €119 | €0 | -€119 | -99.9% |
| Financial charges | 65/66B | €627 | €416 | -€211 | -33.6% |
| Recurring financial charges | 65 | €627 | €416 | -€211 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,222 | €9,323 | +€11,545 | |
| Income taxes | 67/77 | €3,258 | €2,747 | -€511 | -15.7% |
| Profit (loss) for the period | 9904 | -€5,479 | €6,576 | +€12,055 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,479 | €6,576 | +€12,055 |
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 18 October 2026 via checked.be.