SAP ELEC: 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 ELEC
Largest movements
- Intangible fixed assets -€6,000
down €6,000 (-12.5%), from €48,000 to €42,000
- Stocks and contracts +€3,100
up €3,100 (+206.7%), from €1,500 to €4,600
- Receivables within one year +€2,332
up €2,332 (+48.1%), from €4,848 to €7,181
of which Trade receivables: +€2,033
- Deferred charges and accrued income -€1,864
down €1,864 (-62.4%), from €2,988 to €1,124
- Tangible fixed assets -€667
no longer reported in 2025 (was €667)
- Debts after one year -€8,502
down €8,502 (-22.7%), from €37,516 to €29,013
- Trade debts +€6,167
up €6,167 (+48.4%), from €12,752 to €18,919
- Other debts -€2,218
no longer reported in 2025 (was €2,218)
- Tax, wage and social debts +€1,271
up €1,271 (+63.7%), from €1,995 to €3,266
- Staff costs +€10,010
up €10,010 (+95.6%), from €10,475 to €20,486
- Gross operating margin +€6,158
up €6,158 (+23.4%), from €26,290 to €32,448
- Taxes -€1,993
no longer reported in 2025 (was €1,993)
- Other operating charges +€451
up €451 (+85.8%), from €526 to €978
- Financial charges +€356
up €356 (+8.8%), from €4,042 to €4,398
of which Non-recurring financial charges: +€1,230
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 | €65,516 | €62,202 | -€3,314 | -5.1% |
| Fixed assets | 21/28 | €48,667 | €42,000 | -€6,667 | -13.7% |
| Intangible fixed assets | 21 | €48,000 | €42,000 | -€6,000 | -12.5% |
| Tangible fixed assets | 22/27 | €667 | - | -€667 | |
| Plant, machinery and equipment | 23 | €667 | - | -€667 | |
| Current assets | 29/58 | €16,849 | €20,202 | +€3,353 | +19.9% |
| Stocks and contracts in progress | 3 | €1,500 | €4,600 | +€3,100 | +206.7% |
| Stocks | 30/36 | €1,500 | €4,600 | +€3,100 | +206.7% |
| Amounts receivable within one year | 40/41 | €4,848 | €7,181 | +€2,332 | +48.1% |
| Trade receivables | 40 | €2,742 | €4,775 | +€2,033 | +74.2% |
| Other amounts receivable | 41 | €2,107 | €2,406 | +€299 | +14.2% |
| Cash at bank and in hand | 54/58 | €7,513 | €7,298 | -€215 | -2.9% |
| Deferred charges and accrued income | 490/1 | €2,988 | €1,124 | -€1,864 | -62.4% |
| Total equity and liabilities | 10/49 | €65,516 | €62,202 | -€3,314 | -5.1% |
| Equity | 10/15 | €3,058 | €2,501 | -€556 | -18.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58 | -€499 | -€556 | |
| Amounts payable | 17/49 | €62,458 | €59,701 | -€2,757 | -4.4% |
| Amounts payable after more than one year | 17 | €37,516 | €29,013 | -€8,502 | -22.7% |
| Financial debts | 170/4 | €37,516 | €29,013 | -€8,502 | -22.7% |
| Amounts payable within one year | 42/48 | €24,943 | €30,688 | +€5,745 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €7,977 | €8,502 | +€525 | +6.6% |
| Trade debts | 44 | €12,752 | €18,919 | +€6,167 | +48.4% |
| Suppliers | 440/4 | €12,752 | €18,919 | +€6,167 | +48.4% |
| Taxes, remuneration and social security | 45 | €1,995 | €3,266 | +€1,271 | +63.7% |
| Taxes | 450/3 | €1,995 | €3,266 | +€1,271 | +63.7% |
| Other amounts payable | 47/48 | €2,218 | - | -€2,218 | |
| Remuneration, social security and pensions | 62 | €10,475 | €20,486 | +€10,010 | +95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,667 | €6,667 | -€0 | 0.0% |
| Other operating charges | 640/8 | €526 | €978 | +€451 | +85.8% |
| Non-recurring operating charges | 66A | - | €482 | +€482 | |
| Gross operating margin | 9900 | €26,290 | €32,448 | +€6,158 | +23.4% |
| Operating profit (loss) | 9901 | €8,622 | €3,835 | -€4,786 | -55.5% |
| Financial income | 75/76B | €1 | €6 | +€5 | +383.5% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +383.5% |
| Financial charges | 65/66B | €4,042 | €4,398 | +€356 | +8.8% |
| Recurring financial charges | 65 | €4,042 | €3,168 | -€874 | -21.6% |
| Non-recurring financial charges | 66B | - | €1,230 | +€1,230 | |
| Profit (loss) for the period before taxes | 9903 | €4,581 | -€556 | -€5,137 | |
| Income taxes | 67/77 | €1,993 | - | -€1,993 | |
| Profit (loss) for the period | 9904 | €2,588 | -€556 | -€3,144 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,588 | -€556 | -€3,144 |
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 10 October 2026 via checked.be.