SAP: 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.
SAP
Largest movements
- Receivables within one year +€21,449
up €21,449 (+50.0%), from €42,939 to €64,389
of which Other amounts receivable: +€12,444
- Tangible fixed assets +€19,037
up €19,037 (+105%), from €18,099 to €37,136
of which Plant, machinery and equipment: +€23,766
- Cash -€13,637
down €13,637 (-4.7%), from €287,234 to €273,597
mainly Investment in fixed assets (net) (-€30,540) and Receivables within one year (-€21,449)
- Trade debts +€28,772
up €28,772 (+176%), from €16,362 to €45,134
- Other debts -€14,288
down €14,288 (-91.8%), from €15,556 to €1,268
- Reserves +€13,715
up €13,715 (+43.0%), from €31,859 to €45,574
of which Distributable reserves: +€13,715
- Turnover +€849,433
new in 2025: €849,433
- Purchases and services -€443,923
down €443,923 (-35.1%), from €1.3m to €819,069
- Gross operating margin -€173,048
down €173,048 (-85.0%), from €203,700 to €30,652
- Taxes -€44,460
down €44,460 (-89.9%), from €49,450 to €4,990
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 | €352,588 | €380,064 | +€27,476 | +7.8% |
| Fixed assets | 21/28 | €18,099 | €37,136 | +€19,037 | +105% |
| Tangible fixed assets | 22/27 | €18,099 | €37,136 | +€19,037 | +105% |
| Plant, machinery and equipment | 23 | €6,988 | €30,753 | +€23,766 | +340% |
| Furniture and vehicles | 24 | €11,111 | €6,382 | -€4,729 | -42.6% |
| Current assets | 29/58 | €334,489 | €342,928 | +€8,439 | +2.5% |
| Stocks and contracts in progress | 3 | €1,328 | €479 | -€850 | -64.0% |
| Stocks | 30/36 | €1,328 | €479 | -€850 | -64.0% |
| Amounts receivable within one year | 40/41 | €42,939 | €64,389 | +€21,449 | +50.0% |
| Trade receivables | 40 | €40,187 | €49,192 | +€9,006 | +22.4% |
| Other amounts receivable | 41 | €2,753 | €15,196 | +€12,444 | +452% |
| Cash at bank and in hand | 54/58 | €287,234 | €273,597 | -€13,637 | -4.7% |
| Deferred charges and accrued income | 490/1 | €2,987 | €4,464 | +€1,477 | +49.4% |
| Total equity and liabilities | 10/49 | €352,588 | €380,064 | +€27,476 | +7.8% |
| Equity | 10/15 | €271,814 | €285,529 | +€13,715 | +5.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €31,859 | €45,574 | +€13,715 | +43.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €43,715 | +€13,715 | +45.7% |
| Profit (loss) carried forward | 14 | €233,757 | €233,757 | +€0 | 0.0% |
| Amounts payable | 17/49 | €80,774 | €94,535 | +€13,761 | +17.0% |
| Amounts payable within one year | 42/48 | €80,774 | €94,535 | +€13,761 | +17.0% |
| Trade debts | 44 | €16,362 | €45,134 | +€28,772 | +176% |
| Suppliers | 440/4 | €16,362 | €45,134 | +€28,772 | +176% |
| Taxes, remuneration and social security | 45 | €48,856 | €48,133 | -€723 | -1.5% |
| Taxes | 450/3 | €45,356 | €44,633 | -€723 | -1.6% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €15,556 | €1,268 | -€14,288 | -91.8% |
| Turnover | 70 | - | €849,433 | +€849,433 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,262,992 | €819,069 | -€443,923 | -35.1% |
| Remuneration, social security and pensions | 62 | €109 | - | -€109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,968 | €11,503 | +€5,535 | +92.8% |
| Other operating charges | 640/8 | €2,976 | €1,439 | -€1,538 | -51.7% |
| Gross operating margin | 9900 | €203,700 | €30,652 | -€173,048 | -85.0% |
| Operating profit (loss) | 9901 | €194,646 | €17,710 | -€176,936 | -90.9% |
| Financial income | 75/76B | €1,323 | €1,137 | -€186 | -14.0% |
| Recurring financial income | 75 | €1,323 | €1,137 | -€186 | -14.0% |
| Financial charges | 65/66B | €206 | €141 | -€65 | -31.5% |
| Recurring financial charges | 65 | €206 | €141 | -€65 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €195,762 | €18,705 | -€177,057 | -90.4% |
| Income taxes | 67/77 | €49,450 | €4,990 | -€44,460 | -89.9% |
| Profit (loss) for the period | 9904 | €146,313 | €13,715 | -€132,598 | -90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €146,313 | €13,715 | -€132,598 | -90.6% |
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 22 October 2026 via checked.be.