SAR-LEASE: 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.
SAR-LEASE
Largest movements
- Receivables within one year +€75,198
up €75,198 (+85.4%), from €88,013 to €163,211
of which Trade receivables: +€75,115
- Cash -€59,328
down €59,328 (-90.6%), from €65,497 to €6,170
mainly Receivables within one year (-€75,198) and Trade debts (-€19,502)
- Tangible fixed assets -€14,906
down €14,906 (-42.2%), from €35,307 to €20,401
of which Furniture and vehicles: -€14,395
- Tax, wage and social debts +€21,518
up €21,518 (+40.6%), from €53,031 to €74,548
of which Remuneration and social security: +€30,723
- Trade debts -€19,502
down €19,502 (-53.0%), from €36,822 to €17,320
- Other debts -€2,791
down €2,791 (-87.6%), from €3,186 to €395
- Gross operating margin +€8,103
up €8,103 (+4.0%), from €200,798 to €208,901
- Depreciation -€6,902
down €6,902 (-29.9%), from €23,106 to €16,203
- Staff costs -€4,531
down €4,531 (-2.4%), from €190,449 to €185,917
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 | €224,966 | €225,388 | +€422 | +0.2% |
| Fixed assets | 21/28 | €65,387 | €50,481 | -€14,906 | -22.8% |
| Tangible fixed assets | 22/27 | €35,307 | €20,401 | -€14,906 | -42.2% |
| Plant, machinery and equipment | 23 | €4,379 | €4,305 | -€74 | -1.7% |
| Furniture and vehicles | 24 | €28,807 | €14,412 | -€14,395 | -50.0% |
| Other tangible fixed assets | 26 | €2,121 | €1,684 | -€437 | -20.6% |
| Financial fixed assets | 28 | €30,080 | €30,080 | = | 0.0% |
| Current assets | 29/58 | €159,579 | €174,906 | +€15,327 | +9.6% |
| Amounts receivable within one year | 40/41 | €88,013 | €163,211 | +€75,198 | +85.4% |
| Trade receivables | 40 | €83,013 | €158,128 | +€75,115 | +90.5% |
| Other amounts receivable | 41 | €5,000 | €5,083 | +€83 | +1.7% |
| Cash at bank and in hand | 54/58 | €65,497 | €6,170 | -€59,328 | -90.6% |
| Deferred charges and accrued income | 490/1 | €6,069 | €5,525 | -€543 | -9.0% |
| Total equity and liabilities | 10/49 | €224,966 | €225,388 | +€422 | +0.2% |
| Equity | 10/15 | €131,928 | €133,124 | +€1,197 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,860 | €44,860 | = | 0.0% |
| Distributable reserves | 133 | €44,860 | €44,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,468 | €69,664 | +€1,197 | +1.7% |
| Amounts payable | 17/49 | €93,038 | €92,263 | -€775 | -0.8% |
| Amounts payable within one year | 42/48 | €93,038 | €92,263 | -€775 | -0.8% |
| Trade debts | 44 | €36,822 | €17,320 | -€19,502 | -53.0% |
| Suppliers | 440/4 | €36,822 | €17,320 | -€19,502 | -53.0% |
| Taxes, remuneration and social security | 45 | €53,031 | €74,548 | +€21,518 | +40.6% |
| Taxes | 450/3 | €36,345 | €27,140 | -€9,206 | -25.3% |
| Remuneration and social security | 454/9 | €16,685 | €47,409 | +€30,723 | +184% |
| Other amounts payable | 47/48 | €3,186 | €395 | -€2,791 | -87.6% |
| Remuneration, social security and pensions | 62 | €190,449 | €185,917 | -€4,531 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,106 | €16,203 | -€6,902 | -29.9% |
| Other operating charges | 640/8 | €5,422 | €5,080 | -€342 | -6.3% |
| Gross operating margin | 9900 | €200,798 | €208,901 | +€8,103 | +4.0% |
| Operating profit (loss) | 9901 | -€18,178 | €1,701 | +€19,879 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,362 | €506 | -€857 | -62.9% |
| Recurring financial charges | 65 | €1,362 | €506 | -€857 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,540 | €1,197 | +€20,737 | |
| Income taxes | 67/77 | -€46 | - | +€46 | |
| Profit (loss) for the period | 9904 | -€19,494 | €1,197 | +€20,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,494 | €1,197 | +€20,691 |
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.