SALVE MATER: 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.
SALVE MATER
Largest movements
- Stocks and contracts -€1.4m
down €1.4m (-10.9%), from €12.8m to €11.4m
- Receivables within one year -€203,629
down €203,629 (-49.9%), from €408,125 to €204,496
of which Trade receivables: -€296,426
- Trade debts -€1.1m
down €1.1m (-75.1%), from €1.4m to €354,820
- Other debts -€895,901
down €895,901 (-27.0%), from €3.3m to €2.4m
- Profit (loss) carried forward +€349,612
up €349,612 (+22.8%), from €1.5m to €1.9m
- Gross operating margin +€776,561
up €776,561, from -€289,606 to €486,955
- Financial charges +€50,336
up €50,336 (+85.6%), from €58,803 to €109,139
- Taxes +€8,483
new in 2025: €8,483
- Financial income -€7,007
no longer reported in 2025 (was €7,007)
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 | €13,220,064 | €11,620,890 | -€1.6m | -12.1% |
| Current assets | 29/58 | €13,220,064 | €11,620,890 | -€1.6m | -12.1% |
| Stocks and contracts in progress | 3 | €12,800,047 | €11,408,030 | -€1.4m | -10.9% |
| Stocks | 30/36 | €12,800,047 | €11,408,030 | -€1.4m | -10.9% |
| Amounts receivable within one year | 40/41 | €408,125 | €204,496 | -€203,629 | -49.9% |
| Trade receivables | 40 | €408,125 | €111,699 | -€296,426 | -72.6% |
| Other amounts receivable | 41 | - | €92,797 | +€92,797 | |
| Cash at bank and in hand | 54/58 | €10,453 | €7,731 | -€2,722 | -26.0% |
| Deferred charges and accrued income | 490/1 | €1,439 | €633 | -€806 | -56.0% |
| Total equity and liabilities | 10/49 | €13,220,064 | €11,620,890 | -€1.6m | -12.1% |
| Equity | 10/15 | €8,393,115 | €8,761,128 | +€368,013 | +4.4% |
| Contributions | 10/11 | €6,600,001 | €6,600,001 | = | 0.0% |
| Capital | 10 | €6,600,001 | €6,600,001 | = | 0.0% |
| Issued capital | 100 | €6,600,001 | €6,600,001 | = | 0.0% |
| Reserves | 13 | €259,995 | €278,396 | +€18,401 | +7.1% |
| Non-distributable reserves | 130/1 | €259,995 | €278,396 | +€18,401 | +7.1% |
| Legal reserve | 130 | €259,995 | €278,396 | +€18,401 | +7.1% |
| Profit (loss) carried forward | 14 | €1,533,119 | €1,882,731 | +€349,612 | +22.8% |
| Amounts payable | 17/49 | €4,826,949 | €2,859,762 | -€2.0m | -40.8% |
| Amounts payable within one year | 42/48 | €4,826,949 | €2,859,762 | -€2.0m | -40.8% |
| Trade debts | 44 | €1,426,082 | €354,820 | -€1.1m | -75.1% |
| Suppliers | 440/4 | €1,426,082 | €354,820 | -€1.1m | -75.1% |
| Advances received on contracts in progress | 46 | €20,249 | €80,759 | +€60,510 | +299% |
| Taxes, remuneration and social security | 45 | €60,533 | - | -€60,533 | |
| Taxes | 450/3 | €60,533 | - | -€60,533 | |
| Other amounts payable | 47/48 | €3,320,084 | €2,424,183 | -€895,901 | -27.0% |
| Other operating charges | 640/8 | €1,161 | €1,320 | +€160 | +13.8% |
| Gross operating margin | 9900 | -€289,606 | €486,955 | +€776,561 | |
| Operating profit (loss) | 9901 | -€290,767 | €485,635 | +€776,402 | |
| Financial income | 75/76B | €7,007 | - | -€7,007 | |
| Recurring financial income | 75 | €7,007 | - | -€7,007 | |
| Financial charges | 65/66B | €58,803 | €109,139 | +€50,336 | +85.6% |
| Recurring financial charges | 65 | €58,803 | €109,139 | +€50,336 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | -€342,563 | €376,496 | +€719,059 | |
| Income taxes | 67/77 | - | €8,483 | +€8,483 | |
| Profit (loss) for the period | 9904 | -€342,563 | €368,013 | +€710,576 | |
| Profit (loss) for the period to be appropriated | 9905 | -€342,563 | €368,013 | +€710,576 |
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 16 October 2026 via checked.be.