SALD: 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.
SALD
Largest movements
- Tangible fixed assets -€19,090
down €19,090 (-3.0%), from €639,548 to €620,458
- Cash +€6,928
up €6,928 (+17.1%), from €40,497 to €47,425
mainly Net result for the year (+€27,816) and Depreciation (+€19,090)
- Debts after one year -€45,578
down €45,578 (-9.1%), from €498,876 to €453,299
- Reserves +€27,816
up €27,816 (+22.5%), from €123,615 to €151,431
- Gross operating margin -€3,273
down €3,273 (-4.7%), from €70,038 to €66,766
- Other operating charges -€964
down €964 (-30.3%), from €3,185 to €2,221
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 | €684,650 | €669,568 | -€15,083 | -2.2% |
| Fixed assets | 21/28 | €639,548 | €620,458 | -€19,090 | -3.0% |
| Tangible fixed assets | 22/27 | €639,548 | €620,458 | -€19,090 | -3.0% |
| Land and buildings | 22 | €639,548 | €620,458 | -€19,090 | -3.0% |
| Current assets | 29/58 | €45,102 | €49,110 | +€4,008 | +8.9% |
| Amounts receivable within one year | 40/41 | €4,148 | €1,223 | -€2,925 | -70.5% |
| Trade receivables | 40 | €2,056 | €1,223 | -€833 | -40.5% |
| Other amounts receivable | 41 | €2,092 | - | -€2,092 | |
| Cash at bank and in hand | 54/58 | €40,497 | €47,425 | +€6,928 | +17.1% |
| Deferred charges and accrued income | 490/1 | €457 | €463 | +€5 | +1.1% |
| Total equity and liabilities | 10/49 | €684,650 | €669,568 | -€15,083 | -2.2% |
| Equity | 10/15 | €129,815 | €157,631 | +€27,816 | +21.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,615 | €151,431 | +€27,816 | +22.5% |
| Distributable reserves | 133 | €123,615 | €151,431 | +€27,816 | +22.5% |
| Amounts payable | 17/49 | €554,835 | €511,937 | -€42,899 | -7.7% |
| Amounts payable after more than one year | 17 | €498,876 | €453,299 | -€45,578 | -9.1% |
| Financial debts | 170/4 | €498,876 | €453,299 | -€45,578 | -9.1% |
| Amounts payable within one year | 42/48 | €54,959 | €58,638 | +€3,679 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €44,872 | €45,578 | +€706 | +1.6% |
| Trade debts | 44 | - | €3,665 | +€3,665 | |
| Suppliers | 440/4 | - | €3,665 | +€3,665 | |
| Advances received on contracts in progress | 46 | €5,450 | €5,450 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €137 | €3,945 | +€3,808 | +2,773% |
| Taxes | 450/3 | €137 | €3,945 | +€3,808 | +2,773% |
| Other amounts payable | 47/48 | €4,500 | €0 | -€4,500 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,090 | €19,090 | = | 0.0% |
| Other operating charges | 640/8 | €3,185 | €2,221 | -€964 | -30.3% |
| Gross operating margin | 9900 | €70,038 | €66,766 | -€3,273 | -4.7% |
| Operating profit (loss) | 9901 | €47,762 | €45,454 | -€2,308 | -4.8% |
| Financial charges | 65/66B | €8,968 | €8,366 | -€602 | -6.7% |
| Recurring financial charges | 65 | €8,968 | €8,366 | -€602 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €38,795 | €37,088 | -€1,707 | -4.4% |
| Income taxes | 67/77 | €9,699 | €9,272 | -€427 | -4.4% |
| Profit (loss) for the period | 9904 | €29,096 | €27,816 | -€1,280 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,096 | €27,816 | -€1,280 | -4.4% |
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 15 October 2026 via checked.be.