SAIFAN: 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.
SAIFAN
Largest movements
- Tangible fixed assets -€12,035
down €12,035 (-31.6%), from €38,110 to €26,076
- Cash -€3,683
down €3,683 (-50.5%), from €7,292 to €3,608
mainly Debts after one year (-€10,484) and Other debts (-€2,722)
- Stocks and contracts +€2,436
up €2,436 (+10.3%), from €23,674 to €26,109
- Debts after one year -€10,484
down €10,484 (-49.6%), from €21,144 to €10,660
- Other debts -€2,722
down €2,722 (-24.7%), from €11,022 to €8,300
- Trade debts -€1,926
down €1,926 (-25.9%), from €7,430 to €5,504
- Gross operating margin +€3,393
up €3,393 (+12.2%), from €27,875 to €31,268
- Staff costs +€3,192
up €3,192 (+23.9%), from €13,329 to €16,521
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 | €75,152 | €61,249 | -€13,903 | -18.5% |
| Fixed assets | 21/28 | €38,110 | €26,076 | -€12,035 | -31.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €38,110 | €26,076 | -€12,035 | -31.6% |
| Furniture and vehicles | 24 | €38,110 | €26,076 | -€12,035 | -31.6% |
| Current assets | 29/58 | €37,041 | €35,173 | -€1,868 | -5.0% |
| Stocks and contracts in progress | 3 | €23,674 | €26,109 | +€2,436 | +10.3% |
| Stocks | 30/36 | €23,674 | €26,109 | +€2,436 | +10.3% |
| Amounts receivable within one year | 40/41 | €5,455 | €5,455 | = | 0.0% |
| Other amounts receivable | 41 | €5,455 | €5,455 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,292 | €3,608 | -€3,683 | -50.5% |
| Deferred charges and accrued income | 490/1 | €620 | €0 | -€620 | -100% |
| Total equity and liabilities | 10/49 | €75,152 | €61,249 | -€13,903 | -18.5% |
| Equity | 10/15 | €22,670 | €23,353 | +€683 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,070 | €4,753 | +€683 | +16.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,210 | €2,893 | +€683 | +30.9% |
| Amounts payable | 17/49 | €52,482 | €37,896 | -€14,586 | -27.8% |
| Amounts payable after more than one year | 17 | €21,144 | €10,660 | -€10,484 | -49.6% |
| Financial debts | 170/4 | €21,144 | €10,660 | -€10,484 | -49.6% |
| Amounts payable within one year | 42/48 | €31,337 | €27,236 | -€4,102 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €10,484 | €10,484 | = | 0.0% |
| Trade debts | 44 | €7,430 | €5,504 | -€1,926 | -25.9% |
| Suppliers | 440/4 | €7,430 | €5,504 | -€1,926 | -25.9% |
| Taxes, remuneration and social security | 45 | €2,402 | €2,947 | +€545 | +22.7% |
| Taxes | 450/3 | €748 | €1,505 | +€757 | +101% |
| Remuneration and social security | 454/9 | €1,654 | €1,442 | -€212 | -12.8% |
| Other amounts payable | 47/48 | €11,022 | €8,300 | -€2,722 | -24.7% |
| Remuneration, social security and pensions | 62 | €13,329 | €16,521 | +€3,192 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,235 | €12,035 | -€200 | -1.6% |
| Other operating charges | 640/8 | €1,839 | €1,632 | -€207 | -11.3% |
| Gross operating margin | 9900 | €27,875 | €31,268 | +€3,393 | +12.2% |
| Operating profit (loss) | 9901 | €472 | €1,081 | +€609 | +129% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €139 | €179 | +€40 | +29.0% |
| Recurring financial charges | 65 | €139 | €179 | +€40 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €335 | €902 | +€567 | +169% |
| Income taxes | 67/77 | €239 | €219 | -€20 | -8.3% |
| Profit (loss) for the period | 9904 | €96 | €683 | +€587 | +611% |
| Profit (loss) for the period to be appropriated | 9905 | €96 | €683 | +€587 | +611% |
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 14 October 2026 via checked.be.