SAO Immo: 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.
SAO Immo
Largest movements
- Tangible fixed assets -€25,694
down €25,694 (-3.6%), from €710,178 to €684,484
- Cash +€7,505
up €7,505 (+64.3%), from €11,672 to €19,177
mainly Net result for the year (+€28,661) and Depreciation (+€25,694)
- Debts after one year -€45,704
down €45,704 (-7.3%), from €630,171 to €584,467
of which Other amounts payable: -€42,000
- Reserves +€15,000
up €15,000 (+150%), from €10,000 to €25,000
- Tax, wage and social debts +€9,039
up €9,039 (+118%), from €7,689 to €16,728
- Turnover +€5,327
up €5,327 (+6.4%), from €83,534 to €88,861
- Gross operating margin +€4,121
up €4,121 (+6.8%), from €60,317 to €64,439
- Purchases and services +€4,056
up €4,056 (+17.5%), from €23,217 to €27,273
- Taxes +€1,294
up €1,294 (+16.7%), from €7,746 to €9,040
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 | €722,629 | €705,912 | -€16,717 | -2.3% |
| Fixed assets | 21/28 | €710,178 | €684,484 | -€25,694 | -3.6% |
| Tangible fixed assets | 22/27 | €710,178 | €684,484 | -€25,694 | -3.6% |
| Land and buildings | 22 | €710,178 | €684,484 | -€25,694 | -3.6% |
| Current assets | 29/58 | €12,450 | €21,428 | +€8,977 | +72.1% |
| Cash at bank and in hand | 54/58 | €11,672 | €19,177 | +€7,505 | +64.3% |
| Deferred charges and accrued income | 490/1 | €778 | €2,251 | +€1,473 | +189% |
| Total equity and liabilities | 10/49 | €722,629 | €705,912 | -€16,717 | -2.3% |
| Equity | 10/15 | €20,564 | €39,225 | +€18,661 | +90.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €25,000 | +€15,000 | +150% |
| Distributable reserves | 133 | €10,000 | €25,000 | +€15,000 | +150% |
| Profit (loss) carried forward | 14 | €7,564 | €11,225 | +€3,661 | +48.4% |
| Amounts payable | 17/49 | €702,064 | €666,686 | -€35,378 | -5.0% |
| Amounts payable after more than one year | 17 | €630,171 | €584,467 | -€45,704 | -7.3% |
| Financial debts | 170/4 | €8,911 | €5,207 | -€3,704 | -41.6% |
| Other amounts payable | 178/9 | €621,260 | €579,260 | -€42,000 | -6.8% |
| Amounts payable within one year | 42/48 | €71,098 | €80,310 | +€9,212 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €45,539 | €45,704 | +€165 | +0.4% |
| Trade debts | 44 | €6,480 | €6,488 | +€8 | +0.1% |
| Suppliers | 440/4 | €6,480 | €6,488 | +€8 | +0.1% |
| Taxes, remuneration and social security | 45 | €7,689 | €16,728 | +€9,039 | +118% |
| Taxes | 450/3 | €7,689 | €16,728 | +€9,039 | +118% |
| Other amounts payable | 47/48 | €11,390 | €11,390 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €795 | €1,909 | +€1,114 | +140% |
| Turnover | 70 | €83,534 | €88,861 | +€5,327 | +6.4% |
| Non-recurring operating income | 76A | - | €2,850 | +€2,850 | |
| Goods, raw materials, services and sundry goods | 60/61 | €23,217 | €27,273 | +€4,056 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,694 | €25,694 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €60,317 | €64,439 | +€4,121 | +6.8% |
| Operating profit (loss) | 9901 | €34,236 | €38,345 | +€4,109 | +12.0% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €792 | €647 | -€145 | -18.3% |
| Recurring financial charges | 65 | €792 | €647 | -€145 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €33,444 | €37,702 | +€4,257 | +12.7% |
| Income taxes | 67/77 | €7,746 | €9,040 | +€1,294 | +16.7% |
| Profit (loss) for the period | 9904 | €25,698 | €28,661 | +€2,963 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,698 | €28,661 | +€2,963 | +11.5% |
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.