SARACO: 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.
SARACO
Largest movements
- Stocks and contracts +€37,912
up €37,912 (+19.1%), from €198,786 to €236,698
- Receivables within one year -€18,731
down €18,731 (-27.1%), from €69,181 to €50,449
of which Other amounts receivable: -€10,324
- Cash -€11,097
down €11,097 (-9.5%), from €117,248 to €106,151
mainly Short-term financial debts (-€48,126) and Stocks and contracts (-€37,912)
- Tangible fixed assets -€7,005
down €7,005 (-13.7%), from €51,080 to €44,075
of which Other tangible fixed assets: -€5,007
- Profit (loss) carried forward +€84,634
new in 2025: €84,634
- Short-term financial debts -€48,126
down €48,126 (-100.0%), from €48,126 to €0
- Tax, wage and social debts -€26,377
down €26,377 (-48.3%), from €54,598 to €28,220
of which Taxes: -€24,788
- Other debts -€18,555
down €18,555 (-36.0%), from €51,500 to €32,945
- Trade debts +€12,156
up €12,156 (+8.7%), from €139,882 to €152,038
- Gross operating margin +€22,641
up €22,641 (+11.0%), from €205,715 to €228,356
- Taxes +€11,845
up €11,845 (+63.0%), from €18,810 to €30,655
- Financial charges -€2,607
down €2,607 (-17.0%), from €15,343 to €12,737
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 | €440,716 | €440,220 | -€496 | -0.1% |
| Fixed assets | 21/28 | €51,330 | €44,325 | -€7,005 | -13.6% |
| Tangible fixed assets | 22/27 | €51,080 | €44,075 | -€7,005 | -13.7% |
| Furniture and vehicles | 24 | €1,997 | €0 | -€1,997 | -100.0% |
| Other tangible fixed assets | 26 | €49,083 | €44,075 | -€5,007 | -10.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €389,386 | €395,895 | +€6,509 | +1.7% |
| Stocks and contracts in progress | 3 | €198,786 | €236,698 | +€37,912 | +19.1% |
| Stocks | 30/36 | €198,786 | €236,698 | +€37,912 | +19.1% |
| Amounts receivable within one year | 40/41 | €69,181 | €50,449 | -€18,731 | -27.1% |
| Trade receivables | 40 | €57,667 | €49,259 | -€8,407 | -14.6% |
| Other amounts receivable | 41 | €11,514 | €1,190 | -€10,324 | -89.7% |
| Cash at bank and in hand | 54/58 | €117,248 | €106,151 | -€11,097 | -9.5% |
| Deferred charges and accrued income | 490/1 | €4,170 | €2,596 | -€1,574 | -37.7% |
| Total equity and liabilities | 10/49 | €440,716 | €440,220 | -€496 | -0.1% |
| Equity | 10/15 | €136,445 | €221,080 | +€84,634 | +62.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €117,853 | €117,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €117,853 | €115,993 | -€1,860 | -1.6% |
| Profit (loss) carried forward | 14 | - | €84,634 | +€84,634 | |
| Amounts payable | 17/49 | €304,270 | €219,141 | -€85,130 | -28.0% |
| Amounts payable within one year | 42/48 | €304,270 | €219,141 | -€85,130 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €10,165 | €0 | -€10,165 | -100.0% |
| Financial debts | 43 | €48,126 | €0 | -€48,126 | -100.0% |
| Credit institutions | 430/8 | €48,126 | €0 | -€48,126 | -100.0% |
| Trade debts | 44 | €139,882 | €152,038 | +€12,156 | +8.7% |
| Suppliers | 440/4 | €139,882 | €152,038 | +€12,156 | +8.7% |
| Advances received on contracts in progress | 46 | - | €5,937 | +€5,937 | |
| Taxes, remuneration and social security | 45 | €54,598 | €28,220 | -€26,377 | -48.3% |
| Taxes | 450/3 | €49,450 | €24,662 | -€24,788 | -50.1% |
| Remuneration and social security | 454/9 | €5,148 | €3,559 | -€1,589 | -30.9% |
| Other amounts payable | 47/48 | €51,500 | €32,945 | -€18,555 | -36.0% |
| Non-recurring operating income | 76A | - | €4,572 | +€4,572 | |
| Remuneration, social security and pensions | 62 | €83,287 | €81,613 | -€1,675 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,603 | €7,607 | +€1,004 | +15.2% |
| Other operating charges | 640/8 | €430 | €883 | +€453 | +105.3% |
| Non-recurring operating charges | 66A | €23,050 | €10 | -€23,040 | -100.0% |
| Gross operating margin | 9900 | €205,715 | €228,356 | +€22,641 | +11.0% |
| Operating profit (loss) | 9901 | €92,345 | €138,244 | +€45,899 | +49.7% |
| Financial income | 75/76B | €621 | €1,184 | +€563 | +90.6% |
| Recurring financial income | 75 | €621 | €1,184 | +€563 | +90.6% |
| Financial charges | 65/66B | €15,343 | €12,737 | -€2,607 | -17.0% |
| Recurring financial charges | 65 | €15,343 | €12,737 | -€2,607 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €77,623 | €126,691 | +€49,069 | +63.2% |
| Income taxes | 67/77 | €18,810 | €30,655 | +€11,845 | +63.0% |
| Profit (loss) for the period | 9904 | €58,812 | €96,036 | +€37,224 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,812 | €96,036 | +€37,224 | +63.3% |
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 5 October 2026 via checked.be.