SAPHIRE: what changed
Two fiscal 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.
SAPHIRE
Largest movements
- Cash -€16,309
down €16,309 (-9.1%), from €178,801 to €162,492
mainly Tax, wage and social debts (-€15,955) and Contributions, distributions and other (-€10,000)
- Tangible fixed assets -€12,161
down €12,161 (-13.6%), from €89,203 to €77,043
of which Furniture and vehicles: -€9,142
- Tax, wage and social debts -€15,955
down €15,955 (-91.0%), from €17,529 to €1,574
- Reserves -€7,459
down €7,459 (-3.2%), from €232,722 to €225,264
- Trade debts -€4,067
down €4,067 (-61.1%), from €6,658 to €2,591
- Gross operating margin -€85,706
down €85,706 (-82.5%), from €103,873 to €18,167
- Taxes -€26,518
down €26,518 (-89.9%), from €29,498 to €2,981
- Depreciation +€3,044
up €3,044 (+30.7%), from €9,918 to €12,962
- Financial income +€1,754
up €1,754 (+99.0%), from €1,772 to €3,527
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 | €278,851 | €252,314 | -€26,537 | -9.5% |
| Fixed assets | 21/28 | €89,203 | €77,043 | -€12,161 | -13.6% |
| Tangible fixed assets | 22/27 | €89,203 | €77,043 | -€12,161 | -13.6% |
| Land and buildings | 22 | €36,768 | €36,630 | -€138 | -0.4% |
| Plant, machinery and equipment | 23 | €5,809 | €4,586 | -€1,222 | -21.0% |
| Furniture and vehicles | 24 | €32,005 | €22,863 | -€9,142 | -28.6% |
| Other tangible fixed assets | 26 | €14,622 | €12,964 | -€1,658 | -11.3% |
| Current assets | 29/58 | €189,647 | €175,271 | -€14,377 | -7.6% |
| Amounts receivable within one year | 40/41 | €9,198 | €10,827 | +€1,629 | +17.7% |
| Trade receivables | 40 | €9,198 | €4,599 | -€4,599 | -50.0% |
| Other amounts receivable | 41 | - | €6,228 | +€6,228 | |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €178,801 | €162,492 | -€16,309 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,648 | €1,951 | +€303 | +18.4% |
| Total equity and liabilities | 10/49 | €278,851 | €252,314 | -€26,537 | -9.5% |
| Equity | 10/15 | €253,182 | €245,724 | -€7,459 | -2.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €232,722 | €225,264 | -€7,459 | -3.2% |
| Distributable reserves | 133 | €232,722 | €225,264 | -€7,459 | -3.2% |
| Amounts payable | 17/49 | €25,668 | €6,590 | -€19,078 | -74.3% |
| Amounts payable within one year | 42/48 | €25,668 | €6,590 | -€19,078 | -74.3% |
| Trade debts | 44 | €6,658 | €2,591 | -€4,067 | -61.1% |
| Suppliers | 440/4 | €6,658 | €2,591 | -€4,067 | -61.1% |
| Taxes, remuneration and social security | 45 | €17,529 | €1,574 | -€15,955 | -91.0% |
| Taxes | 450/3 | €17,529 | €1,574 | -€15,955 | -91.0% |
| Other amounts payable | 47/48 | €1,481 | €2,425 | +€944 | +63.7% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,918 | €12,962 | +€3,044 | +30.7% |
| Other operating charges | 640/8 | €2,311 | €1,743 | -€568 | -24.6% |
| Gross operating margin | 9900 | €103,873 | €18,167 | -€85,706 | -82.5% |
| Operating profit (loss) | 9901 | €91,644 | €3,462 | -€88,181 | -96.2% |
| Financial income | 75/76B | €1,772 | €3,527 | +€1,754 | +99.0% |
| Recurring financial income | 75 | €1,772 | €3,527 | +€1,754 | +99.0% |
| Financial charges | 65/66B | €2,488 | €1,467 | -€1,020 | -41.0% |
| Recurring financial charges | 65 | €2,488 | €1,467 | -€1,020 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €90,928 | €5,522 | -€85,406 | -93.9% |
| Income taxes | 67/77 | €29,498 | €2,981 | -€26,518 | -89.9% |
| Profit (loss) for the period | 9904 | €61,430 | €2,541 | -€58,889 | -95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,430 | €2,541 | -€58,889 | -95.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.