SAINT JAMES: what changed
Two fiscal 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.
SAINT JAMES
Largest movements
- Cash +€34,705
up €34,705 (+83.2%), from €41,712 to €76,417
mainly Trade debts (+€73,961) and Depreciation (+€35,194)
- Tangible fixed assets -€28,926
down €28,926 (-5.7%), from €508,074 to €479,148
of which Furniture and vehicles: -€17,040
- Trade debts +€73,961
up €73,961 (+75.5%), from €97,972 to €171,933
- Debts after one year -€52,779
down €52,779 (-15.8%), from €334,000 to €281,221
- Gross operating margin -€14,809
down €14,809 (-4.9%), from €303,374 to €288,565
- Staff costs +€9,222
up €9,222 (+4.2%), from €221,024 to €230,246
- Other operating charges -€9,044
no longer reported in 2025 (was €9,044)
- Financial charges -€4,736
down €4,736 (-21.2%), from €22,391 to €17,655
- Taxes -€3,224
down €3,224 (-41.7%), from €7,728 to €4,504
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.
Cash bridge derived
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 | €620,597 | €627,496 | +€6,898 | +1.1% |
| Fixed assets | 21/28 | €508,603 | €479,678 | -€28,926 | -5.7% |
| Tangible fixed assets | 22/27 | €508,074 | €479,148 | -€28,926 | -5.7% |
| Land and buildings | 22 | €487,880 | €474,499 | -€13,381 | -2.7% |
| Plant, machinery and equipment | 23 | €1,993 | €3,488 | +€1,495 | +75.0% |
| Furniture and vehicles | 24 | €18,201 | €1,161 | -€17,040 | -93.6% |
| Financial fixed assets | 28 | €529 | €529 | = | 0.0% |
| Current assets | 29/58 | €111,994 | €147,818 | +€35,824 | +32.0% |
| Stocks and contracts in progress | 3 | €540 | €540 | = | 0.0% |
| Stocks | 30/36 | €540 | €540 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,743 | €70,861 | +€1,118 | +1.6% |
| Trade receivables | 40 | €4,545 | €257 | -€4,288 | -94.3% |
| Other amounts receivable | 41 | €65,198 | €70,604 | +€5,406 | +8.3% |
| Cash at bank and in hand | 54/58 | €41,712 | €76,417 | +€34,705 | +83.2% |
| Total equity and liabilities | 10/49 | €620,597 | €627,496 | +€6,898 | +1.1% |
| Equity | 10/15 | €45,253 | €42,843 | -€2,410 | -5.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,178 | -€23,319 | -€141 | -0.6% |
| Investment grants | 15 | €5,931 | €3,662 | -€2,269 | -38.3% |
| Amounts payable | 17/49 | €575,344 | €584,652 | +€9,308 | +1.6% |
| Amounts payable after more than one year | 17 | €334,000 | €281,221 | -€52,779 | -15.8% |
| Financial debts | 170/4 | €334,000 | €281,221 | -€52,779 | -15.8% |
| Amounts payable within one year | 42/48 | €217,627 | €285,438 | +€67,811 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €52,274 | €48,151 | -€4,123 | -7.9% |
| Financial debts | 43 | €4,392 | €4,628 | +€236 | +5.4% |
| Credit institutions | 430/8 | €4,392 | €4,628 | +€236 | +5.4% |
| Trade debts | 44 | €97,972 | €171,933 | +€73,961 | +75.5% |
| Suppliers | 440/4 | €97,972 | €171,933 | +€73,961 | +75.5% |
| Taxes, remuneration and social security | 45 | €35,045 | €34,777 | -€268 | -0.8% |
| Taxes | 450/3 | €14,606 | €12,165 | -€2,441 | -16.7% |
| Remuneration and social security | 454/9 | €20,439 | €22,612 | +€2,173 | +10.6% |
| Other amounts payable | 47/48 | €27,945 | €25,950 | -€1,995 | -7.1% |
| Accrued charges and deferred income | 492/3 | €23,718 | €17,993 | -€5,725 | -24.1% |
| Remuneration, social security and pensions | 62 | €221,024 | €230,246 | +€9,222 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,125 | €35,194 | +€69 | +0.2% |
| Other operating charges | 640/8 | €9,044 | - | -€9,044 | |
| Non-recurring operating charges | 66A | - | €3,376 | +€3,376 | |
| Gross operating margin | 9900 | €303,374 | €288,565 | -€14,809 | -4.9% |
| Operating profit (loss) | 9901 | €38,181 | €19,749 | -€18,432 | -48.3% |
| Financial income | 75/76B | €2,279 | €2,269 | -€10 | -0.4% |
| Recurring financial income | 75 | €2,279 | €2,269 | -€10 | -0.4% |
| Financial charges | 65/66B | €22,391 | €17,655 | -€4,736 | -21.2% |
| Recurring financial charges | 65 | €22,391 | €17,655 | -€4,736 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €18,069 | €4,363 | -€13,706 | -75.9% |
| Income taxes | 67/77 | €7,728 | €4,504 | -€3,224 | -41.7% |
| Profit (loss) for the period | 9904 | €10,341 | -€141 | -€10,482 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,341 | -€141 | -€10,482 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.