SAPHIRA: 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.
SAPHIRA
Largest movements
- Stocks and contracts -€20,300
down €20,300 (-70.5%), from €28,800 to €8,500
of which Contracts in progress: -€20,300
- Receivables within one year -€13,633
down €13,633 (-38.5%), from €35,432 to €21,799
of which Other amounts receivable: -€27,549
- Tangible fixed assets +€9,253
up €9,253 (+26.1%), from €35,395 to €44,648
of which Furniture and vehicles: +€16,540
- Reserves -€61,264
down €61,264 (-21.4%), from €286,350 to €225,086
- Other debts +€33,374
new in 2025: €33,374
- Debts after one year +€18,841
up €18,841 (+306%), from €6,158 to €24,999
- Tax, wage and social debts -€4,750
down €4,750 (-36.6%), from €12,964 to €8,214
- Trade debts -€4,413
down €4,413 (-36.7%), from €12,026 to €7,613
- Gross operating margin -€22,585
down €22,585 (-41.9%), from €53,845 to €31,259
- Financial income +€16,800
up €16,800 (+851%), from €1,975 to €18,774
of which Non-recurring financial income: +€16,529
- Depreciation +€4,446
up €4,446 (+17.5%), from €25,415 to €29,861
- Taxes -€3,754
down €3,754 (-47.3%), from €7,932 to €4,178
- Financial charges +€797
up €797 (+69.9%), from €1,140 to €1,937
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 | €368,262 | €346,874 | -€21,388 | -5.8% |
| Fixed assets | 21/28 | €35,395 | €44,648 | +€9,253 | +26.1% |
| Tangible fixed assets | 22/27 | €35,395 | €44,648 | +€9,253 | +26.1% |
| Land and buildings | 22 | €1,904 | €1,506 | -€398 | -20.9% |
| Plant, machinery and equipment | 23 | €14,887 | €7,998 | -€6,889 | -46.3% |
| Furniture and vehicles | 24 | €18,604 | €35,145 | +€16,540 | +88.9% |
| Current assets | 29/58 | €332,867 | €302,226 | -€30,641 | -9.2% |
| Stocks and contracts in progress | 3 | €28,800 | €8,500 | -€20,300 | -70.5% |
| Stocks | 30/36 | €7,500 | €7,500 | = | 0.0% |
| Contracts in progress | 37 | €21,300 | €1,000 | -€20,300 | -95.3% |
| Amounts receivable within one year | 40/41 | €35,432 | €21,799 | -€13,633 | -38.5% |
| Trade receivables | 40 | €691 | €14,607 | +€13,917 | +2,015% |
| Other amounts receivable | 41 | €34,741 | €7,192 | -€27,549 | -79.3% |
| Cash at bank and in hand | 54/58 | €266,615 | €270,130 | +€3,515 | +1.3% |
| Deferred charges and accrued income | 490/1 | €2,021 | €1,797 | -€224 | -11.1% |
| Total equity and liabilities | 10/49 | €368,262 | €346,874 | -€21,388 | -5.8% |
| Equity | 10/15 | €320,837 | €259,573 | -€61,264 | -19.1% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €286,350 | €225,086 | -€61,264 | -21.4% |
| Distributable reserves | 133 | €286,350 | €225,086 | -€61,264 | -21.4% |
| Profit (loss) carried forward | 14 | €10,487 | €10,487 | = | 0.0% |
| Amounts payable | 17/49 | €47,425 | €87,301 | +€39,877 | +84.1% |
| Amounts payable after more than one year | 17 | €6,158 | €24,999 | +€18,841 | +306% |
| Financial debts | 170/4 | €6,158 | €24,999 | +€18,841 | +306% |
| Amounts payable within one year | 42/48 | €41,267 | €62,302 | +€21,035 | +51.0% |
| Current portion of amounts payable after more than one year | 42 | €16,276 | €13,101 | -€3,175 | -19.5% |
| Trade debts | 44 | €12,026 | €7,613 | -€4,413 | -36.7% |
| Suppliers | 440/4 | €12,026 | €7,613 | -€4,413 | -36.7% |
| Taxes, remuneration and social security | 45 | €12,964 | €8,214 | -€4,750 | -36.6% |
| Taxes | 450/3 | €12,964 | €8,214 | -€4,750 | -36.6% |
| Other amounts payable | 47/48 | - | €33,374 | +€33,374 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,415 | €29,861 | +€4,446 | +17.5% |
| Other operating charges | 640/8 | €1,953 | €1,684 | -€270 | -13.8% |
| Gross operating margin | 9900 | €53,845 | €31,259 | -€22,585 | -41.9% |
| Operating profit (loss) | 9901 | €26,477 | -€285 | -€26,762 | |
| Financial income | 75/76B | €1,975 | €18,774 | +€16,800 | +851% |
| Recurring financial income | 75 | €1,975 | €2,246 | +€271 | +13.7% |
| Non-recurring financial income | 76B | - | €16,529 | +€16,529 | |
| Financial charges | 65/66B | €1,140 | €1,937 | +€797 | +69.9% |
| Recurring financial charges | 65 | €1,140 | €1,937 | +€797 | +69.9% |
| Profit (loss) for the period before taxes | 9903 | €27,312 | €16,552 | -€10,760 | -39.4% |
| Income taxes | 67/77 | €7,932 | €4,178 | -€3,754 | -47.3% |
| Profit (loss) for the period | 9904 | €19,379 | €12,373 | -€7,006 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,379 | €12,373 | -€7,006 | -36.2% |
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 27 October 2026 via checked.be.