SAP MGT: 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 MGT
Largest movements
- Cash -€47,468
down €47,468 (-69.5%), from €68,251 to €20,783
mainly Contributions, distributions and other (-€95,000) and Investment in fixed assets (net) (-€1,346)
- Receivables within one year -€898
down €898 (-10.5%), from €8,521 to €7,623
of which Other amounts receivable: -€1,200
- Profit (loss) carried forward -€72,887
down €72,887 (-99.0%), from €73,612 to €725
- Other debts +€23,028
up €23,028 (+4,006%), from €575 to €23,603
- Trade debts +€2,062
up €2,062 (+1,705%), from €121 to €2,183
- Gross operating margin +€30,558
up €30,558 (+825%), from €3,705 to €34,263
- Financial income -€26,178
down €26,178 (-100.0%), from €26,178 to €0
of which Non-recurring financial income: -€26,178
- Taxes +€8,399
up €8,399 (+1,639%), from €512 to €8,911
- Financial charges -€1,471
down €1,471 (-51.7%), from €2,843 to €1,373
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 | €80,089 | €32,421 | -€47,668 | -59.5% |
| Formation expenses | 20 | €653 | €378 | -€275 | -42.1% |
| Fixed assets | 21/28 | €853 | €1,465 | +€612 | +71.7% |
| Tangible fixed assets | 22/27 | €853 | €1,465 | +€612 | +71.7% |
| Furniture and vehicles | 24 | €853 | €1,465 | +€612 | +71.7% |
| Current assets | 29/58 | €78,583 | €30,578 | -€48,005 | -61.1% |
| Amounts receivable within one year | 40/41 | €8,521 | €7,623 | -€898 | -10.5% |
| Trade receivables | 40 | €7,321 | €7,623 | +€303 | +4.1% |
| Other amounts receivable | 41 | €1,200 | - | -€1,200 | |
| Cash at bank and in hand | 54/58 | €68,251 | €20,783 | -€47,468 | -69.5% |
| Deferred charges and accrued income | 490/1 | €1,812 | €2,172 | +€360 | +19.9% |
| Total equity and liabilities | 10/49 | €80,089 | €32,421 | -€47,668 | -59.5% |
| Equity | 10/15 | €75,612 | €2,725 | -€72,887 | -96.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,612 | €725 | -€72,887 | -99.0% |
| Amounts payable | 17/49 | €4,477 | €29,696 | +€25,219 | +563% |
| Amounts payable within one year | 42/48 | €4,477 | €29,696 | +€25,219 | +563% |
| Trade debts | 44 | €121 | €2,183 | +€2,062 | +1,705% |
| Suppliers | 440/4 | €121 | €2,183 | +€2,062 | +1,705% |
| Taxes, remuneration and social security | 45 | €3,781 | €3,910 | +€128 | +3.4% |
| Taxes | 450/3 | €3,781 | €3,910 | +€128 | +3.4% |
| Other amounts payable | 47/48 | €575 | €23,603 | +€23,028 | +4,006% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €746 | €1,009 | +€263 | +35.3% |
| Other operating charges | 640/8 | €734 | €857 | +€123 | +16.7% |
| Gross operating margin | 9900 | €3,705 | €34,263 | +€30,558 | +825% |
| Operating profit (loss) | 9901 | €2,225 | €32,397 | +€30,172 | +1,356% |
| Financial income | 75/76B | €26,178 | €0 | -€26,178 | -100.0% |
| Recurring financial income | 75 | €26,178 | €0 | -€26,178 | -100.0% |
| Non-recurring financial income | 76B | €26,178 | - | -€26,178 | |
| Financial charges | 65/66B | €2,843 | €1,373 | -€1,471 | -51.7% |
| Recurring financial charges | 65 | €2,843 | €1,373 | -€1,471 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €25,560 | €31,025 | +€5,465 | +21.4% |
| Income taxes | 67/77 | €512 | €8,911 | +€8,399 | +1,639% |
| Profit (loss) for the period | 9904 | €25,048 | €22,113 | -€2,934 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,048 | €22,113 | -€2,934 | -11.7% |
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.