SAIRAM: 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.
SAIRAM
Largest movements
- Receivables within one year +€120,361
up €120,361 (+107%), from €112,686 to €233,047
of which Other amounts receivable: +€124,493
- Financial fixed assets -€100,000
down €100,000 (-91.8%), from €108,916 to €8,916
- Tangible fixed assets +€28,526
up €28,526 (+88.6%), from €32,193 to €60,719
of which Land and buildings: +€21,464
- Cash -€5,091
down €5,091 (-52.0%), from €9,793 to €4,701
mainly Receivables within one year (-€120,361) and Tax, wage and social debts (-€21,234)
- Tax, wage and social debts -€21,234
down €21,234 (-57.3%), from €37,030 to €15,797
of which Remuneration and social security: -€18,096
- Trade debts +€18,640
up €18,640 (+209%), from €8,925 to €27,565
- Reserves +€17,000
up €17,000 (+8.5%), from €201,133 to €218,133
of which Distributable reserves: +€17,000
- Debts after one year +€16,228
new in 2025: €16,228
- Current portion of long-term debt +€10,997
up €10,997, from €0 to €10,997
- Staff costs -€27,914
down €27,914 (-24.4%), from €114,222 to €86,308
- Gross operating margin -€10,622
down €10,622 (-8.0%), from €132,105 to €121,483
- Taxes +€5,320
up €5,320 (+313%), from €1,702 to €7,021
- Depreciation +€3,978
up €3,978 (+39.2%), from €10,140 to €14,117
- Financial income +€3,597
up €3,597 (+56.1%), from €6,408 to €10,005
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 | €267,188 | €313,993 | +€46,805 | +17.5% |
| Fixed assets | 21/28 | €141,109 | €72,395 | -€68,714 | -48.7% |
| Intangible fixed assets | 21 | - | €2,760 | +€2,760 | |
| Tangible fixed assets | 22/27 | €32,193 | €60,719 | +€28,526 | +88.6% |
| Land and buildings | 22 | €11,857 | €33,321 | +€21,464 | +181% |
| Plant, machinery and equipment | 23 | €1,384 | €10,309 | +€8,924 | +645% |
| Furniture and vehicles | 24 | €18,952 | €17,089 | -€1,862 | -9.8% |
| Financial fixed assets | 28 | €108,916 | €8,916 | -€100,000 | -91.8% |
| Current assets | 29/58 | €126,079 | €241,598 | +€115,520 | +91.6% |
| Stocks and contracts in progress | 3 | €3,600 | €3,850 | +€250 | +6.9% |
| Stocks | 30/36 | €3,600 | €3,850 | +€250 | +6.9% |
| Amounts receivable within one year | 40/41 | €112,686 | €233,047 | +€120,361 | +107% |
| Trade receivables | 40 | €7,495 | €3,363 | -€4,132 | -55.1% |
| Other amounts receivable | 41 | €105,191 | €229,684 | +€124,493 | +118% |
| Cash at bank and in hand | 54/58 | €9,793 | €4,701 | -€5,091 | -52.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €267,188 | €313,993 | +€46,805 | +17.5% |
| Equity | 10/15 | €221,232 | €238,406 | +€17,174 | +7.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €201,133 | €218,133 | +€17,000 | +8.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €199,133 | €216,133 | +€17,000 | +8.5% |
| Profit (loss) carried forward | 14 | €100 | €274 | +€174 | +175% |
| Amounts payable | 17/49 | €45,956 | €75,587 | +€29,631 | +64.5% |
| Amounts payable after more than one year | 17 | - | €16,228 | +€16,228 | |
| Financial debts | 170/4 | - | €16,228 | +€16,228 | |
| Amounts payable within one year | 42/48 | €45,956 | €59,359 | +€13,403 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | €10,997 | +€10,997 | |
| Trade debts | 44 | €8,925 | €27,565 | +€18,640 | +209% |
| Suppliers | 440/4 | €8,925 | €27,565 | +€18,640 | +209% |
| Taxes, remuneration and social security | 45 | €37,030 | €15,797 | -€21,234 | -57.3% |
| Taxes | 450/3 | €8,454 | €5,316 | -€3,138 | -37.1% |
| Remuneration and social security | 454/9 | €28,577 | €10,481 | -€18,096 | -63.3% |
| Other amounts payable | 47/48 | €0 | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €114,222 | €86,308 | -€27,914 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,140 | €14,117 | +€3,978 | +39.2% |
| Other operating charges | 640/8 | €6,340 | €5,027 | -€1,313 | -20.7% |
| Gross operating margin | 9900 | €132,105 | €121,483 | -€10,622 | -8.0% |
| Operating profit (loss) | 9901 | €1,403 | €16,031 | +€14,627 | +1,042% |
| Financial income | 75/76B | €6,408 | €10,005 | +€3,597 | +56.1% |
| Recurring financial income | 75 | €6,408 | €10,005 | +€3,597 | +56.1% |
| Financial charges | 65/66B | €1,326 | €1,840 | +€514 | +38.8% |
| Recurring financial charges | 65 | €1,326 | €1,840 | +€514 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €6,485 | €24,195 | +€17,710 | +273% |
| Income taxes | 67/77 | €1,702 | €7,021 | +€5,320 | +313% |
| Profit (loss) for the period | 9904 | €4,784 | €17,174 | +€12,390 | +259% |
| Profit (loss) for the period to be appropriated | 9905 | €4,784 | €17,174 | +€12,390 | +259% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.