SAK Projekt: what changed
SAK Projekt
Largest movements
- Receivables within one year -€32,130
down €32,130 (-81.6%), from €39,385 to €7,255
of which Trade receivables: -€31,889
- Tangible fixed assets -€17,765
down €17,765 (-70.8%), from €25,076 to €7,312
of which Leasing and similar rights: -€13,433
- Stocks and contracts +€11,250
new in 2025: €11,250
- Cash -€2,420
down €2,420 (-75.1%), from €3,221 to €801
mainly Net result for the year (-€20,066) and Trade debts (-€15,174)
- Reserves -€20,066
down €20,066 (-56.5%), from €35,496 to €15,429
- Trade debts -€15,174
down €15,174 (-85.6%), from €17,719 to €2,545
- Other debts +€12,451
up €12,451 (+137%), from €9,109 to €21,560
- Current portion of long-term debt -€7,823
no longer reported in 2025 (was €7,823)
- Debts after one year -€6,371
no longer reported in 2025 (was €6,371)
- Gross operating margin -€48,973
down €48,973, from €35,325 to -€13,648
- Staff costs -€15,556
down €15,556 (-92.8%), from €16,763 to €1,207
- Depreciation -€7,734
down €7,734 (-64.1%), from €12,065 to €4,332
- Other operating charges -€5,897
down €5,897 (-94.6%), from €6,233 to €336
- Financial charges -€1,615
down €1,615 (-74.8%), from €2,159 to €544
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,982 | €42,534 | -€41,448 | -49.4% |
| Fixed assets | 21/28 | €38,471 | €20,707 | -€17,765 | -46.2% |
| Tangible fixed assets | 22/27 | €25,076 | €7,312 | -€17,765 | -70.8% |
| Plant, machinery and equipment | 23 | €1,993 | €553 | -€1,440 | -72.2% |
| Leasing and similar rights | 25 | €13,433 | - | -€13,433 | |
| Other tangible fixed assets | 26 | €9,650 | €6,758 | -€2,892 | -30.0% |
| Financial fixed assets | 28 | €13,395 | €13,395 | = | 0.0% |
| Current assets | 29/58 | €45,511 | €21,827 | -€23,683 | -52.0% |
| Stocks and contracts in progress | 3 | - | €11,250 | +€11,250 | |
| Stocks | 30/36 | - | €11,250 | +€11,250 | |
| Amounts receivable within one year | 40/41 | €39,385 | €7,255 | -€32,130 | -81.6% |
| Trade receivables | 40 | €37,277 | €5,388 | -€31,889 | -85.5% |
| Other amounts receivable | 41 | €2,107 | €1,867 | -€241 | -11.4% |
| Cash at bank and in hand | 54/58 | €3,221 | €801 | -€2,420 | -75.1% |
| Deferred charges and accrued income | 490/1 | €2,905 | €2,522 | -€383 | -13.2% |
| Total equity and liabilities | 10/49 | €83,982 | €42,534 | -€41,448 | -49.4% |
| Equity | 10/15 | €38,496 | €18,429 | -€20,066 | -52.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,496 | €15,429 | -€20,066 | -56.5% |
| Distributable reserves | 133 | €35,496 | €15,429 | -€20,066 | -56.5% |
| Amounts payable | 17/49 | €45,486 | €24,104 | -€21,382 | -47.0% |
| Amounts payable after more than one year | 17 | €6,371 | - | -€6,371 | |
| Financial debts | 170/4 | €6,371 | - | -€6,371 | |
| Amounts payable within one year | 42/48 | €39,115 | €24,104 | -€15,011 | -38.4% |
| Current portion of amounts payable after more than one year | 42 | €7,823 | - | -€7,823 | |
| Trade debts | 44 | €17,719 | €2,545 | -€15,174 | -85.6% |
| Suppliers | 440/4 | €17,719 | €2,545 | -€15,174 | -85.6% |
| Taxes, remuneration and social security | 45 | €4,464 | - | -€4,464 | |
| Taxes | 450/3 | €4,464 | - | -€4,464 | |
| Other amounts payable | 47/48 | €9,109 | €21,560 | +€12,451 | +137% |
| Remuneration, social security and pensions | 62 | €16,763 | €1,207 | -€15,556 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,065 | €4,332 | -€7,734 | -64.1% |
| Other operating charges | 640/8 | €6,233 | €336 | -€5,897 | -94.6% |
| Gross operating margin | 9900 | €35,325 | -€13,648 | -€48,973 | |
| Operating profit (loss) | 9901 | €263 | -€19,523 | -€19,786 | |
| Financial income | 75/76B | €891 | €1 | -€890 | -99.9% |
| Recurring financial income | 75 | €891 | €1 | -€890 | -99.9% |
| Financial charges | 65/66B | €2,159 | €544 | -€1,615 | -74.8% |
| Recurring financial charges | 65 | €2,159 | €544 | -€1,615 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,005 | -€20,066 | -€19,061 | -1,897% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -20.0% |
| Profit (loss) for the period | 9904 | -€1,005 | -€20,066 | -€19,061 | -1,896% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,005 | -€20,066 | -€19,061 | -1,896% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.