SALART: 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.
What changed
SALART
NACE 47.221, Retail sale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€915,424
2024 · €1.2m-€295,298
Equity
€3.9m
2024 · €3.4m+€586,887
Cash
€1.4m
2024 · €698,228+€677,644
Balance sheet total
€5.3m
2024 · €5.2m+€102,587
Largest movements
Assets
- Current investments -€800,000
down €800,000 (-28.6%), from €2.8m to €2.0m
- Cash +€677,644
up €677,644 (+97.1%), from €698,228 to €1.4m
mainly Net result for the year (+€915,424) and Current investments (+€800,000)
- Receivables after one year +€200,000
new in 2025: €200,000
Equity and liabilities
- Reserves +€579,036
up €579,036 (+18.5%), from €3.1m to €3.7m
of which Distributable reserves: +€579,036
- Other debts -€330,001
down €330,001 (-49.7%), from €663,685 to €333,684
- Short-term financial debts -€230,000
no longer reported in 2025 (was €230,000)
- Trade debts +€154,397
up €154,397 (+58.7%), from €262,955 to €417,353
- Debts after one year -€60,004
down €60,004 (-14.2%), from €423,408 to €363,404
Income statement
- Gross operating margin -€185,896
down €185,896 (-7.1%), from €2.6m to €2.4m
- Taxes +€64,702
up €64,702 (+12.5%), from €518,763 to €583,465
- Staff costs +€52,507
up €52,507 (+6.8%), from €769,546 to €822,053
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.
Result 2024
€1.2m
Gross operating margin
-€185,896
Staff costs
-€52,507
Depreciation
-€19,268
Write-downs
+€10,140
Other operating charges
-€4,188
Other operating items
-€103
Financial income
+€9,502
Financial charges
+€11,724
Taxes
-€64,702
Result 2025
€915,424
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€645,531
Investment
+€648,554
Financing
-€616,442
Cash 2024
€698,228
From operations (derived)
+€645,531
Net result for the year
+€915,424
Depreciation
+€168,092
Receivables after one year
-€200,000
Stocks and contracts
-€35,779
Receivables within one year
-€31,395
Deferred charges and accrued income
+€25,584
Trade debts
+€154,397
Tax, wage and social debts
-€20,792
Other debts
-€330,001
Investment (derived)
+€648,554
Investment in fixed assets (net)
-€151,446
Current investments
+€800,000
Financing
-€616,442
Debts after one year
-€60,004
Current portion of long-term debt
+€2,099
Short-term financial debts
-€230,000
Contributions, distributions and other
-€328,537
Cash 2025
€1.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,214,040 | €5,316,627 | +€102,587 | +2.0% |
| Fixed assets | 21/28 | €1,269,374 | €1,252,727 | -€16,646 | -1.3% |
| Tangible fixed assets | 22/27 | €1,268,402 | €1,251,756 | -€16,646 | -1.3% |
| Land and buildings | 22 | €1,176,744 | €1,085,400 | -€91,344 | -7.8% |
| Plant, machinery and equipment | 23 | - | €31,045 | +€31,045 | |
| Furniture and vehicles | 24 | €86,688 | €128,423 | +€41,736 | +48.1% |
| Other tangible fixed assets | 26 | €4,970 | €6,887 | +€1,917 | +38.6% |
| Financial fixed assets | 28 | €972 | €972 | = | 0.0% |
| Current assets | 29/58 | €3,944,666 | €4,063,899 | +€119,233 | +3.0% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Stocks and contracts in progress | 3 | €201,392 | €237,171 | +€35,779 | +17.8% |
| Stocks | 30/36 | €201,392 | €237,171 | +€35,779 | +17.8% |
| Amounts receivable within one year | 40/41 | €209,198 | €240,593 | +€31,395 | +15.0% |
| Trade receivables | 40 | €179,152 | €188,404 | +€9,251 | +5.2% |
| Other amounts receivable | 41 | €30,045 | €52,189 | +€22,144 | +73.7% |
| Current investments | 50/53 | €2,800,000 | €2,000,000 | -€800,000 | -28.6% |
| Cash at bank and in hand | 54/58 | €698,228 | €1,375,872 | +€677,644 | +97.1% |
| Deferred charges and accrued income | 490/1 | €35,848 | €10,264 | -€25,584 | -71.4% |
| Total equity and liabilities | 10/49 | €5,214,040 | €5,316,627 | +€102,587 | +2.0% |
| Equity | 10/15 | €3,357,604 | €3,944,491 | +€586,887 | +17.5% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €3,122,064 | €3,701,100 | +€579,036 | +18.5% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €3,113,064 | €3,692,100 | +€579,036 | +18.6% |
| Profit (loss) carried forward | 14 | €108,322 | €108,346 | +€24 | 0.0% |
| Investment grants | 15 | €37,218 | €45,045 | +€7,826 | +21.0% |
| Amounts payable | 17/49 | €1,856,435 | €1,372,136 | -€484,300 | -26.1% |
| Amounts payable after more than one year | 17 | €423,408 | €363,404 | -€60,004 | -14.2% |
| Financial debts | 170/4 | €423,408 | €363,404 | -€60,004 | -14.2% |
| Amounts payable within one year | 42/48 | €1,432,857 | €1,008,562 | -€424,296 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €57,905 | €60,004 | +€2,099 | +3.6% |
| Financial debts | 43 | €230,000 | - | -€230,000 | |
| Other loans | 439 | €230,000 | - | -€230,000 | |
| Trade debts | 44 | €262,955 | €417,353 | +€154,397 | +58.7% |
| Suppliers | 440/4 | €262,955 | €417,353 | +€154,397 | +58.7% |
| Taxes, remuneration and social security | 45 | €218,313 | €197,521 | -€20,792 | -9.5% |
| Taxes | 450/3 | €149,650 | €132,560 | -€17,090 | -11.4% |
| Remuneration and social security | 454/9 | €68,663 | €64,961 | -€3,702 | -5.4% |
| Other amounts payable | 47/48 | €663,685 | €333,684 | -€330,001 | -49.7% |
| Accrued charges and deferred income | 492/3 | €170 | €170 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €769,546 | €822,053 | +€52,507 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,824 | €168,092 | +€19,268 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,763 | €623 | -€10,140 | -94.2% |
| Other operating charges | 640/8 | €16,888 | €21,076 | +€4,188 | +24.8% |
| Non-recurring operating charges | 66A | - | €103 | +€103 | |
| Gross operating margin | 9900 | €2,628,022 | €2,442,126 | -€185,896 | -7.1% |
| Operating profit (loss) | 9901 | €1,682,001 | €1,430,180 | -€251,821 | -15.0% |
| Financial income | 75/76B | €85,552 | €95,054 | +€9,502 | +11.1% |
| Recurring financial income | 75 | €85,552 | €95,054 | +€9,502 | +11.1% |
| Financial charges | 65/66B | €38,068 | €26,344 | -€11,724 | -30.8% |
| Recurring financial charges | 65 | €38,068 | €26,344 | -€11,724 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €1,729,485 | €1,498,889 | -€230,596 | -13.3% |
| Income taxes | 67/77 | €518,763 | €583,465 | +€64,702 | +12.5% |
| Profit (loss) for the period | 9904 | €1,210,722 | €915,424 | -€295,298 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,210,722 | €915,424 | -€295,298 | -24.4% |
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 30 October 2026 via checked.be.