SARAO: 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.
SARAO
Largest movements
- Cash -€12,243
down €12,243 (-60.9%), from €20,116 to €7,873
mainly Tax, wage and social debts (-€10,898) and Stocks and contracts (-€10,183)
- Stocks and contracts +€10,183
up €10,183 (+73.7%), from €13,818 to €24,001
- Intangible fixed assets -€2,000
down €2,000 (-10.7%), from €18,658 to €16,658
- Receivables within one year +€1,464
new in 2025: €1,464
of which Other amounts receivable: +€1,344
- Tax, wage and social debts -€10,898
down €10,898 (-78.8%), from €13,829 to €2,932
of which Remuneration and social security: -€9,282
- Trade debts +€5,802
up €5,802 (+106%), from €5,487 to €11,290
- Profit (loss) carried forward +€2,284
up €2,284 (+36.5%), from €6,255 to €8,540
- Turnover +€132,073
up €132,073 (+49.4%), from €267,276 to €399,349
- Purchases and services +€123,532
up €123,532 (+47.9%), from €257,628 to €381,160
- Staff costs +€16,640
new in 2025: €16,640
- Gross operating margin +€11,943
up €11,943 (+102%), from €11,692 to €23,635
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 | €54,167 | €51,496 | -€2,671 | -4.9% |
| Fixed assets | 21/28 | €20,158 | €18,158 | -€2,000 | -9.9% |
| Intangible fixed assets | 21 | €18,658 | €16,658 | -€2,000 | -10.7% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €34,009 | €33,338 | -€671 | -2.0% |
| Stocks and contracts in progress | 3 | €13,818 | €24,001 | +€10,183 | +73.7% |
| Stocks | 30/36 | €13,818 | €24,001 | +€10,183 | +73.7% |
| Amounts receivable within one year | 40/41 | - | €1,464 | +€1,464 | |
| Trade receivables | 40 | - | €120 | +€120 | |
| Other amounts receivable | 41 | - | €1,344 | +€1,344 | |
| Cash at bank and in hand | 54/58 | €20,116 | €7,873 | -€12,243 | -60.9% |
| Deferred charges and accrued income | 490/1 | €75 | - | -€75 | |
| Total equity and liabilities | 10/49 | €54,167 | €51,496 | -€2,671 | -4.9% |
| Equity | 10/15 | €34,850 | €37,135 | +€2,284 | +6.6% |
| Contributions | 10/11 | €28,595 | €28,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,255 | €8,540 | +€2,284 | +36.5% |
| Amounts payable | 17/49 | €19,317 | €14,361 | -€4,956 | -25.7% |
| Amounts payable within one year | 42/48 | €19,317 | €14,361 | -€4,956 | -25.7% |
| Trade debts | 44 | €5,487 | €11,290 | +€5,802 | +106% |
| Suppliers | 440/4 | €5,487 | €11,290 | +€5,802 | +106% |
| Taxes, remuneration and social security | 45 | €13,829 | €2,932 | -€10,898 | -78.8% |
| Taxes | 450/3 | €4,329 | €2,714 | -€1,616 | -37.3% |
| Remuneration and social security | 454/9 | €9,500 | €218 | -€9,282 | -97.7% |
| Other amounts payable | 47/48 | - | €140 | +€140 | |
| Turnover | 70 | €267,276 | €399,349 | +€132,073 | +49.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €257,628 | €381,160 | +€123,532 | +47.9% |
| Remuneration, social security and pensions | 62 | - | €16,640 | +€16,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,342 | €2,000 | +€658 | +49.0% |
| Other operating charges | 640/8 | €194 | €816 | +€622 | +320% |
| Gross operating margin | 9900 | €11,692 | €23,635 | +€11,943 | +102% |
| Operating profit (loss) | 9901 | €10,155 | €4,179 | -€5,976 | -58.8% |
| Financial income | 75/76B | €13 | €0 | -€13 | -99.9% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -99.9% |
| Financial charges | 65/66B | €361 | €1,959 | +€1,598 | +443% |
| Recurring financial charges | 65 | €361 | €1,959 | +€1,598 | +443% |
| Profit (loss) for the period before taxes | 9903 | €9,807 | €2,220 | -€7,587 | -77.4% |
| Income taxes | 67/77 | €2,400 | -€64 | -€2,464 | |
| Profit (loss) for the period | 9904 | €7,407 | €2,284 | -€5,123 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,407 | €2,284 | -€5,123 | -69.2% |
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 13 October 2026 via checked.be.