SAPOA: 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.
SAPOA
Largest movements
- Cash -€25,491
down €25,491 (-72.0%), from €35,385 to €9,895
mainly Trade debts (-€40,749) and Tax, wage and social debts (-€17,444)
- Receivables within one year +€10,970
up €10,970 (+311.8%), from €3,518 to €14,488
- Tangible fixed assets -€5,629
down €5,629 (-50.0%), from €11,259 to €5,629
- Stocks and contracts +€5,096
up €5,096 (+38.1%), from €13,363 to €18,459
- Financial fixed assets +€844
up €844 (+97.4%), from €866 to €1,710
- Profit (loss) carried forward +€43,933
up €43,933 (+72.4%), from -€60,655 to -€16,722
- Trade debts -€40,749
down €40,749 (-57.8%), from €70,498 to €29,749
- Tax, wage and social debts -€17,444
down €17,444 (-47.0%), from €37,098 to €19,654
of which Taxes: -€12,648
- Staff costs -€35,601
down €35,601, from €30,554 to -€5,047
- Gross operating margin -€22,880
down €22,880 (-32.0%), from €71,412 to €48,532
- Financial charges -€4,209
down €4,209 (-89.0%), from €4,730 to €521
- Other operating charges -€1,582
down €1,582 (-31.2%), from €5,076 to €3,495
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 | €64,392 | €50,181 | -€14,210 | -22.1% |
| Fixed assets | 21/28 | €12,125 | €7,339 | -€4,786 | -39.5% |
| Tangible fixed assets | 22/27 | €11,259 | €5,629 | -€5,629 | -50.0% |
| Furniture and vehicles | 24 | €11,259 | €5,629 | -€5,629 | -50.0% |
| Financial fixed assets | 28 | €866 | €1,710 | +€844 | +97.4% |
| Current assets | 29/58 | €52,267 | €42,842 | -€9,424 | -18.0% |
| Stocks and contracts in progress | 3 | €13,363 | €18,459 | +€5,096 | +38.1% |
| Stocks | 30/36 | €13,363 | €18,459 | +€5,096 | +38.1% |
| Amounts receivable within one year | 40/41 | €3,518 | €14,488 | +€10,970 | +311.8% |
| Other amounts receivable | 41 | €3,518 | €14,488 | +€10,970 | +311.8% |
| Cash at bank and in hand | 54/58 | €35,385 | €9,895 | -€25,491 | -72.0% |
| Total equity and liabilities | 10/49 | €64,392 | €50,181 | -€14,210 | -22.1% |
| Equity | 10/15 | -€45,655 | -€1,722 | +€43,933 | +96.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,655 | -€16,722 | +€43,933 | +72.4% |
| Amounts payable | 17/49 | €110,046 | €51,903 | -€58,143 | -52.8% |
| Amounts payable within one year | 42/48 | €110,046 | €51,903 | -€58,143 | -52.8% |
| Trade debts | 44 | €70,498 | €29,749 | -€40,749 | -57.8% |
| Suppliers | 440/4 | €70,498 | €29,749 | -€40,749 | -57.8% |
| Taxes, remuneration and social security | 45 | €37,098 | €19,654 | -€17,444 | -47.0% |
| Taxes | 450/3 | €28,614 | €15,966 | -€12,648 | -44.2% |
| Remuneration and social security | 454/9 | €8,485 | €3,688 | -€4,796 | -56.5% |
| Other amounts payable | 47/48 | €2,450 | €2,500 | +€50 | +2.0% |
| Remuneration, social security and pensions | 62 | €30,554 | -€5,047 | -€35,601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,629 | €5,629 | = | 0.0% |
| Other operating charges | 640/8 | €5,076 | €3,495 | -€1,582 | -31.2% |
| Gross operating margin | 9900 | €71,412 | €48,532 | -€22,880 | -32.0% |
| Operating profit (loss) | 9901 | €30,152 | €44,454 | +€14,302 | +47.4% |
| Financial charges | 65/66B | €4,730 | €521 | -€4,209 | -89.0% |
| Recurring financial charges | 65 | €4,730 | €521 | -€4,209 | -89.0% |
| Profit (loss) for the period before taxes | 9903 | €25,422 | €43,933 | +€18,511 | +72.8% |
| Profit (loss) for the period | 9904 | €25,422 | €43,933 | +€18,511 | +72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,422 | €43,933 | +€18,511 | +72.8% |
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 2 October 2026 via checked.be.