SARE: 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.
SARE
Largest movements
- Tangible fixed assets -€2,975
down €2,975 (-56.7%), from €5,252 to €2,277
of which Other tangible fixed assets: -€1,576
- Stocks and contracts -€1,775
no longer reported in 2025 (was €1,775)
- Receivables within one year -€1,327
down €1,327 (-72.4%), from €1,832 to €505
of which Trade receivables: -€1,743
- Cash +€418
up €418 (+1.9%), from €21,706 to €22,124
mainly Depreciation (+€2,975) and Stocks and contracts (+€1,775)
- Deferred charges and accrued income -€339
down €339 (-15.4%), from €2,205 to €1,866
- Profit (loss) carried forward -€3,743
down €3,743 (-17.1%), from -€21,823 to -€25,565
- Trade debts -€2,986
down €2,986 (-68.4%), from €4,368 to €1,381
- Other debts +€1,135
up €1,135 (+4.8%), from €23,549 to €24,684
- Tax, wage and social debts -€406
down €406 (-59.9%), from €677 to €272
of which Remuneration and social security: -€549
- Gross operating margin -€2,811
down €2,811 (-45.6%), from €6,167 to €3,355
- Staff costs -€2,273
down €2,273 (-65.6%), from €3,464 to €1,191
- Other operating charges -€1,439
down €1,439 (-46.4%), from €3,102 to €1,663
- Financial charges +€897
up €897 (+373.9%), from €240 to €1,137
- Depreciation -€530
down €530 (-15.1%), from €3,506 to €2,975
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 | €32,771 | €26,772 | -€5,999 | -18.3% |
| Fixed assets | 21/28 | €5,252 | €2,277 | -€2,975 | -56.7% |
| Tangible fixed assets | 22/27 | €5,252 | €2,277 | -€2,975 | -56.7% |
| Plant, machinery and equipment | 23 | €2,795 | €1,396 | -€1,399 | -50.1% |
| Other tangible fixed assets | 26 | €2,457 | €881 | -€1,576 | -64.1% |
| Current assets | 29/58 | €27,519 | €24,495 | -€3,024 | -11.0% |
| Stocks and contracts in progress | 3 | €1,775 | - | -€1,775 | |
| Stocks | 30/36 | €1,775 | - | -€1,775 | |
| Amounts receivable within one year | 40/41 | €1,832 | €505 | -€1,327 | -72.4% |
| Trade receivables | 40 | €1,743 | - | -€1,743 | |
| Other amounts receivable | 41 | €89 | €505 | +€416 | +467.2% |
| Cash at bank and in hand | 54/58 | €21,706 | €22,124 | +€418 | +1.9% |
| Deferred charges and accrued income | 490/1 | €2,205 | €1,866 | -€339 | -15.4% |
| Total equity and liabilities | 10/49 | €32,771 | €26,772 | -€5,999 | -18.3% |
| Equity | 10/15 | €4,177 | €435 | -€3,743 | -89.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,823 | -€25,565 | -€3,743 | -17.1% |
| Amounts payable | 17/49 | €28,594 | €26,337 | -€2,257 | -7.9% |
| Amounts payable within one year | 42/48 | €28,594 | €26,337 | -€2,257 | -7.9% |
| Trade debts | 44 | €4,368 | €1,381 | -€2,986 | -68.4% |
| Suppliers | 440/4 | €4,368 | €1,381 | -€2,986 | -68.4% |
| Taxes, remuneration and social security | 45 | €677 | €272 | -€406 | -59.9% |
| Taxes | 450/3 | €128 | €272 | +€144 | +112.1% |
| Remuneration and social security | 454/9 | €549 | - | -€549 | |
| Other amounts payable | 47/48 | €23,549 | €24,684 | +€1,135 | +4.8% |
| Remuneration, social security and pensions | 62 | €3,464 | €1,191 | -€2,273 | -65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,506 | €2,975 | -€530 | -15.1% |
| Other operating charges | 640/8 | €3,102 | €1,663 | -€1,439 | -46.4% |
| Gross operating margin | 9900 | €6,167 | €3,355 | -€2,811 | -45.6% |
| Operating profit (loss) | 9901 | -€3,905 | -€2,474 | +€1,431 | +36.7% |
| Financial charges | 65/66B | €240 | €1,137 | +€897 | +373.9% |
| Recurring financial charges | 65 | €240 | €1,137 | +€897 | +373.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,145 | -€3,611 | +€534 | +12.9% |
| Income taxes | 67/77 | €136 | €132 | -€4 | -3.2% |
| Profit (loss) for the period | 9904 | -€4,281 | -€3,743 | +€539 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,281 | -€3,743 | +€539 | +12.6% |
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.