SAJ LIBAN: 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.
SAJ LIBAN
Largest movements
- Cash +€20,906
new in 2025: €20,906
mainly Trade debts (+€24,242) and Net result for the year (+€12,175)
- Tangible fixed assets +€10,562
new in 2025: €10,562
- Receivables within one year +€3,731
up €3,731 (+225%), from €1,659 to €5,391
of which Trade receivables: +€3,040
- Stocks and contracts +€2,000
new in 2025: €2,000
- Trade debts +€24,242
up €24,242 (+1,699%), from €1,427 to €25,669
- Profit (loss) carried forward +€12,175
up €12,175, from -€693 to €11,481
- Tax, wage and social debts +€2,085
new in 2025: €2,085
- Other debts -€1,679
no longer reported in 2025 (was €1,679)
- Gross operating margin +€13,527
up €13,527, from -€297 to €13,230
- Other operating charges +€359
new in 2025: €359
- Depreciation +€224
up €224 (+59.4%), from €377 to €601
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 | €2,413 | €39,236 | +€36,823 | +1,526% |
| Formation expenses | 20 | €753 | €377 | -€377 | -50.0% |
| Fixed assets | 21/28 | - | €10,562 | +€10,562 | |
| Tangible fixed assets | 22/27 | - | €10,562 | +€10,562 | |
| Furniture and vehicles | 24 | - | €10,562 | +€10,562 | |
| Current assets | 29/58 | €1,659 | €28,297 | +€26,638 | +1,605% |
| Stocks and contracts in progress | 3 | - | €2,000 | +€2,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €1,659 | €5,391 | +€3,731 | +225% |
| Trade receivables | 40 | €1,659 | €4,699 | +€3,040 | +183% |
| Other amounts receivable | 41 | - | €691 | +€691 | |
| Cash at bank and in hand | 54/58 | - | €20,906 | +€20,906 | |
| Total equity and liabilities | 10/49 | €2,413 | €39,236 | +€36,823 | +1,526% |
| Equity | 10/15 | -€693 | €11,481 | +€12,175 | |
| Profit (loss) carried forward | 14 | -€693 | €11,481 | +€12,175 | |
| Amounts payable | 17/49 | €3,106 | €27,755 | +€24,648 | +794% |
| Amounts payable within one year | 42/48 | €3,106 | €27,755 | +€24,648 | +794% |
| Trade debts | 44 | €1,427 | €25,669 | +€24,242 | +1,699% |
| Suppliers | 440/4 | €1,427 | €25,669 | +€24,242 | +1,699% |
| Taxes, remuneration and social security | 45 | - | €2,085 | +€2,085 | |
| Taxes | 450/3 | - | €2,085 | +€2,085 | |
| Other amounts payable | 47/48 | €1,679 | - | -€1,679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377 | €601 | +€224 | +59.4% |
| Other operating charges | 640/8 | - | €359 | +€359 | |
| Gross operating margin | 9900 | -€297 | €13,230 | +€13,527 | |
| Operating profit (loss) | 9901 | -€674 | €12,270 | +€12,944 | |
| Financial charges | 65/66B | €20 | €96 | +€76 | +384% |
| Recurring financial charges | 65 | €20 | €96 | +€76 | +384% |
| Profit (loss) for the period before taxes | 9903 | -€693 | €12,175 | +€12,868 | |
| Profit (loss) for the period | 9904 | -€693 | €12,175 | +€12,868 | |
| Profit (loss) for the period to be appropriated | 9905 | -€693 | €12,175 | +€12,868 |
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 28 October 2026 via checked.be.