SARAC: 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.
SARAC
Largest movements
- Tangible fixed assets -€16,037
down €16,037 (-4.1%), from €394,313 to €378,276
- Reserves +€63,240
up €63,240 (+3,400%), from €1,860 to €65,100
of which Distributable reserves: +€65,100
- Profit (loss) carried forward -€51,730
no longer reported in 2025 (was €51,730)
- Debts after one year -€33,125
down €33,125 (-11.8%), from €280,809 to €247,684
of which Financial debts: -€29,125
No income-statement line moved by more than 1% of the activity.
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 | €408,986 | €393,557 | -€15,429 | -3.8% |
| Fixed assets | 21/28 | €394,313 | €378,276 | -€16,037 | -4.1% |
| Tangible fixed assets | 22/27 | €394,313 | €378,276 | -€16,037 | -4.1% |
| Land and buildings | 22 | €394,313 | €378,276 | -€16,037 | -4.1% |
| Current assets | 29/58 | €14,673 | €15,281 | +€608 | +4.1% |
| Amounts receivable within one year | 40/41 | €10,640 | €11,749 | +€1,108 | +10.4% |
| Trade receivables | 40 | €10,640 | €11,749 | +€1,108 | +10.4% |
| Cash at bank and in hand | 54/58 | €533 | €533 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €3,500 | €3,000 | -€500 | -14.3% |
| Total equity and liabilities | 10/49 | €408,986 | €393,557 | -€15,429 | -3.8% |
| Equity | 10/15 | €72,190 | €83,700 | +€11,510 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €65,100 | +€63,240 | +3,400% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €65,100 | +€65,100 | |
| Profit (loss) carried forward | 14 | €51,730 | - | -€51,730 | |
| Amounts payable | 17/49 | €336,796 | €309,857 | -€26,939 | -8.0% |
| Amounts payable after more than one year | 17 | €280,809 | €247,684 | -€33,125 | -11.8% |
| Financial debts | 170/4 | €203,151 | €174,026 | -€29,125 | -14.3% |
| Other amounts payable | 178/9 | €77,658 | €73,658 | -€4,000 | -5.2% |
| Amounts payable within one year | 42/48 | €55,987 | €62,173 | +€6,186 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €28,256 | €29,125 | +€869 | +3.1% |
| Financial debts | 43 | €2,250 | €4,663 | +€2,413 | +107% |
| Credit institutions | 430/8 | €2,250 | €4,663 | +€2,413 | +107% |
| Trade debts | 44 | €18,542 | €19,668 | +€1,125 | +6.1% |
| Suppliers | 440/4 | €18,542 | €19,668 | +€1,125 | +6.1% |
| Taxes, remuneration and social security | 45 | €6,939 | €8,718 | +€1,778 | +25.6% |
| Taxes | 450/3 | €6,939 | €8,718 | +€1,778 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,037 | €16,037 | = | 0.0% |
| Other operating charges | 640/8 | €6,640 | €6,449 | -€192 | -2.9% |
| Gross operating margin | 9900 | €46,151 | €46,307 | +€156 | +0.3% |
| Operating profit (loss) | 9901 | €23,473 | €23,821 | +€348 | +1.5% |
| Financial charges | 65/66B | €8,090 | €7,723 | -€367 | -4.5% |
| Recurring financial charges | 65 | €8,090 | €7,723 | -€367 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €15,383 | €16,098 | +€715 | +4.6% |
| Income taxes | 67/77 | €4,358 | €4,588 | +€230 | +5.3% |
| Profit (loss) for the period | 9904 | €11,025 | €11,510 | +€485 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,025 | €11,510 | +€485 | +4.4% |
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 14 October 2026 via checked.be.