Salvun: what changed
Two fiscal 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.
Salvun
Largest movements
- Tangible fixed assets -€110,385
down €110,385 (-14.6%), from €758,104 to €647,719
of which Leasing and similar rights: -€100,151
- Receivables within one year +€93,434
up €93,434 (+638.6%), from €14,631 to €108,065
of which Trade receivables: +€91,447
- Accrued charges and deferred income +€93,335
up €93,335 (+2367.9%), from €3,942 to €97,277
- Profit (loss) carried forward -€68,214
new in 2025: -€68,214
- Debts after one year -€28,588
down €28,588 (-7.3%), from €393,674 to €365,085
- Current portion of long-term debt -€22,649
down €22,649 (-44.2%), from €51,237 to €28,588
- Depreciation -€27,766
down €27,766 (-37.8%), from €73,456 to €45,690
- Gross operating margin -€19,118
down €19,118 (-18.8%), from €101,848 to €82,730
- Other operating charges -€7,486
down €7,486 (-76.0%), from €9,847 to €2,361
- Financial charges -€2,275
down €2,275 (-16.5%), from €13,799 to €11,524
- Taxes -€1,228
down €1,228 (-90.3%), from €1,360 to €132
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.
Cash bridge derived
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 | €799,211 | €779,314 | -€19,897 | -2.5% |
| Fixed assets | 21/28 | €758,354 | €647,969 | -€110,385 | -14.6% |
| Tangible fixed assets | 22/27 | €758,104 | €647,719 | -€110,385 | -14.6% |
| Land and buildings | 22 | €555,851 | €543,314 | -€12,537 | -2.3% |
| Plant, machinery and equipment | 23 | €54,739 | €58,119 | +€3,380 | +6.2% |
| Leasing and similar rights | 25 | €140,352 | €40,201 | -€100,151 | -71.4% |
| Other tangible fixed assets | 26 | €7,162 | €6,085 | -€1,077 | -15.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €40,857 | €131,345 | +€90,488 | +221.5% |
| Stocks and contracts in progress | 3 | €15,274 | €20,409 | +€5,135 | +33.6% |
| Stocks | 30/36 | €15,274 | €20,409 | +€5,135 | +33.6% |
| Amounts receivable within one year | 40/41 | €14,631 | €108,065 | +€93,434 | +638.6% |
| Trade receivables | 40 | €10,777 | €102,224 | +€91,447 | +848.5% |
| Other amounts receivable | 41 | €3,853 | €5,841 | +€1,988 | +51.6% |
| Cash at bank and in hand | 54/58 | €8,770 | €2,871 | -€5,899 | -67.3% |
| Deferred charges and accrued income | 490/1 | €2,182 | - | -€2,182 | |
| Total equity and liabilities | 10/49 | €799,211 | €779,314 | -€19,897 | -2.5% |
| Equity | 10/15 | €298,443 | €230,229 | -€68,214 | -22.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €288,443 | €288,443 | = | 0.0% |
| Distributable reserves | 133 | €288,443 | €288,443 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€68,214 | -€68,214 | |
| Amounts payable | 17/49 | €500,769 | €549,086 | +€48,317 | +9.6% |
| Amounts payable after more than one year | 17 | €393,674 | €365,085 | -€28,588 | -7.3% |
| Financial debts | 170/4 | €393,674 | €365,085 | -€28,588 | -7.3% |
| Amounts payable within one year | 42/48 | €103,153 | €86,723 | -€16,430 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €51,237 | €28,588 | -€22,649 | -44.2% |
| Trade debts | 44 | €4,593 | €11,481 | +€6,889 | +150.0% |
| Suppliers | 440/4 | €4,593 | €11,481 | +€6,889 | +150.0% |
| Taxes, remuneration and social security | 45 | €1,742 | €1,486 | -€256 | -14.7% |
| Taxes | 450/3 | €1,742 | €1,486 | -€256 | -14.7% |
| Other amounts payable | 47/48 | €45,581 | €45,167 | -€414 | -0.9% |
| Accrued charges and deferred income | 492/3 | €3,942 | €97,277 | +€93,335 | +2367.9% |
| Remuneration, social security and pensions | 62 | -€279 | - | +€279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,456 | €45,690 | -€27,766 | -37.8% |
| Other operating charges | 640/8 | €9,847 | €2,361 | -€7,486 | -76.0% |
| Non-recurring operating charges | 66A | - | €91,246 | +€91,246 | |
| Gross operating margin | 9900 | €101,848 | €82,730 | -€19,118 | -18.8% |
| Operating profit (loss) | 9901 | €18,823 | -€56,568 | -€75,391 | |
| Financial income | 75/76B | €61 | €10 | -€51 | -82.9% |
| Recurring financial income | 75 | €61 | €10 | -€51 | -82.9% |
| Financial charges | 65/66B | €13,799 | €11,524 | -€2,275 | -16.5% |
| Recurring financial charges | 65 | €13,799 | €11,524 | -€2,275 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €5,086 | -€68,082 | -€73,167 | |
| Income taxes | 67/77 | €1,360 | €132 | -€1,228 | -90.3% |
| Profit (loss) for the period | 9904 | €3,726 | -€68,214 | -€71,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,726 | -€68,214 | -€71,940 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.