SALVARTES: 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.
SALVARTES
Largest movements
- Cash +€24,912
up €24,912 (+9.3%), from €267,660 to €292,572
mainly Net result for the year (+€33,751) and Tax, wage and social debts (+€7,143)
- Receivables within one year +€15,411
up €15,411 (+79.9%), from €19,279 to €34,689
of which Trade receivables: +€15,842
- Reserves +€33,751
up €33,751 (+13.5%), from €249,939 to €283,690
- Tax, wage and social debts +€7,143
up €7,143 (+37.4%), from €19,106 to €26,250
of which Taxes: +€7,361
- Gross operating margin +€6,783
up €6,783 (+6.0%), from €113,986 to €120,770
- Taxes +€1,478
up €1,478 (+9.3%), from €15,887 to €17,365
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 | €289,886 | €332,776 | +€42,890 | +14.8% |
| Fixed assets | 21/28 | €712 | €124 | -€587 | -82.5% |
| Tangible fixed assets | 22/27 | €587 | €0 | -€587 | -100% |
| Plant, machinery and equipment | 23 | €587 | €0 | -€587 | -100% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €289,174 | €332,652 | +€43,477 | +15.0% |
| Amounts receivable within one year | 40/41 | €19,279 | €34,689 | +€15,411 | +79.9% |
| Trade receivables | 40 | €11,350 | €27,192 | +€15,842 | +140% |
| Other amounts receivable | 41 | €7,929 | €7,497 | -€432 | -5.4% |
| Cash at bank and in hand | 54/58 | €267,660 | €292,572 | +€24,912 | +9.3% |
| Deferred charges and accrued income | 490/1 | €2,235 | €5,390 | +€3,155 | +141% |
| Total equity and liabilities | 10/49 | €289,886 | €332,776 | +€42,890 | +14.8% |
| Equity | 10/15 | €268,539 | €302,290 | +€33,751 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €249,939 | €283,690 | +€33,751 | +13.5% |
| Distributable reserves | 133 | €249,939 | €283,690 | +€33,751 | +13.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €21,347 | €30,485 | +€9,139 | +42.8% |
| Amounts payable within one year | 42/48 | €21,347 | €30,485 | +€9,139 | +42.8% |
| Trade debts | 44 | €2,240 | €4,235 | +€1,995 | +89.1% |
| Suppliers | 440/4 | €2,240 | €4,235 | +€1,995 | +89.1% |
| Taxes, remuneration and social security | 45 | €19,106 | €26,250 | +€7,143 | +37.4% |
| Taxes | 450/3 | €13,230 | €20,591 | +€7,361 | +55.6% |
| Remuneration and social security | 454/9 | €5,876 | €5,658 | -€218 | -3.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €68,873 | €68,600 | -€273 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,190 | €587 | -€603 | -50.7% |
| Other operating charges | 640/8 | €916 | €935 | +€19 | +2.1% |
| Gross operating margin | 9900 | €113,986 | €120,770 | +€6,783 | +6.0% |
| Operating profit (loss) | 9901 | €43,008 | €50,648 | +€7,641 | +17.8% |
| Financial income | 75/76B | €699 | €732 | +€33 | +4.7% |
| Recurring financial income | 75 | €699 | €732 | +€33 | +4.7% |
| Financial charges | 65/66B | €267 | €264 | -€3 | -1.2% |
| Recurring financial charges | 65 | €267 | €264 | -€3 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €43,439 | €51,116 | +€7,677 | +17.7% |
| Income taxes | 67/77 | €15,887 | €17,365 | +€1,478 | +9.3% |
| Profit (loss) for the period | 9904 | €27,552 | €33,751 | +€6,199 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,552 | €33,751 | +€6,199 | +22.5% |
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 19 October 2026 via checked.be.