SARIO: 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.
SARIO
Largest movements
- Cash +€51,906
up €51,906 (+58.4%), from €88,841 to €140,748
mainly Net result for the year (+€52,082) and Depreciation (+€26,790)
- Tangible fixed assets -€16,490
down €16,490 (-5.9%), from €279,919 to €263,429
of which Land and buildings: -€19,719
- Receivables within one year -€13,830
down €13,830 (-11.9%), from €115,738 to €101,908
of which Trade receivables: -€9,219
- Reserves +€52,082
up €52,082 (+16.5%), from €316,259 to €368,341
- Debts after one year -€31,151
down €31,151 (-32.9%), from €94,641 to €63,490
- Trade debts +€10,955
up €10,955 (+26.1%), from €42,045 to €53,000
- Gross operating margin +€51,281
up €51,281 (+33.3%), from €154,210 to €205,490
- Taxes +€15,556
up €15,556 (+376%), from €4,142 to €19,698
- Staff costs -€5,059
down €5,059 (-5.2%), from €97,956 to €92,896
- Financial charges -€4,850
down €4,850 (-38.2%), from €12,711 to €7,860
- Depreciation +€2,240
up €2,240 (+9.1%), from €24,550 to €26,790
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 | €660,596 | €682,083 | +€21,487 | +3.3% |
| Fixed assets | 21/28 | €279,964 | €263,474 | -€16,490 | -5.9% |
| Tangible fixed assets | 22/27 | €279,919 | €263,429 | -€16,490 | -5.9% |
| Land and buildings | 22 | €269,018 | €249,299 | -€19,719 | -7.3% |
| Plant, machinery and equipment | 23 | €397 | €245 | -€152 | -38.3% |
| Furniture and vehicles | 24 | €10,503 | €13,885 | +€3,381 | +32.2% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €380,632 | €418,609 | +€37,977 | +10.0% |
| Stocks and contracts in progress | 3 | €174,269 | €173,261 | -€1,007 | -0.6% |
| Stocks | 30/36 | €174,269 | €173,261 | -€1,007 | -0.6% |
| Amounts receivable within one year | 40/41 | €115,738 | €101,908 | -€13,830 | -11.9% |
| Trade receivables | 40 | €28,112 | €18,893 | -€9,219 | -32.8% |
| Other amounts receivable | 41 | €87,625 | €83,015 | -€4,610 | -5.3% |
| Cash at bank and in hand | 54/58 | €88,841 | €140,748 | +€51,906 | +58.4% |
| Deferred charges and accrued income | 490/1 | €1,784 | €2,692 | +€908 | +50.9% |
| Total equity and liabilities | 10/49 | €660,596 | €682,083 | +€21,487 | +3.3% |
| Equity | 10/15 | €321,259 | €373,341 | +€52,082 | +16.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €316,259 | €368,341 | +€52,082 | +16.5% |
| Distributable reserves | 133 | €316,259 | €368,341 | +€52,082 | +16.5% |
| Amounts payable | 17/49 | €339,336 | €308,742 | -€30,595 | -9.0% |
| Amounts payable after more than one year | 17 | €94,641 | €63,490 | -€31,151 | -32.9% |
| Financial debts | 170/4 | €94,641 | €63,490 | -€31,151 | -32.9% |
| Amounts payable within one year | 42/48 | €244,695 | €245,252 | +€556 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €30,497 | €31,151 | +€654 | +2.1% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €42,045 | €53,000 | +€10,955 | +26.1% |
| Suppliers | 440/4 | €42,045 | €53,000 | +€10,955 | +26.1% |
| Taxes, remuneration and social security | 45 | €16,885 | €10,580 | -€6,305 | -37.3% |
| Taxes | 450/3 | €2,673 | €9,698 | +€7,025 | +263% |
| Remuneration and social security | 454/9 | €14,213 | €882 | -€13,331 | -93.8% |
| Other amounts payable | 47/48 | €55,268 | €50,521 | -€4,748 | -8.6% |
| Non-recurring operating income | 76A | - | €3,565 | +€3,565 | |
| Remuneration, social security and pensions | 62 | €97,956 | €92,896 | -€5,059 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,550 | €26,790 | +€2,240 | +9.1% |
| Other operating charges | 640/8 | €4,037 | €3,872 | -€165 | -4.1% |
| Non-recurring operating charges | 66A | €370 | €2,478 | +€2,108 | +571% |
| Gross operating margin | 9900 | €154,210 | €205,490 | +€51,281 | +33.3% |
| Operating profit (loss) | 9901 | €27,298 | €79,454 | +€52,156 | +191% |
| Financial income | 75/76B | €246 | €187 | -€59 | -24.1% |
| Recurring financial income | 75 | €246 | €187 | -€59 | -24.1% |
| Financial charges | 65/66B | €12,711 | €7,860 | -€4,850 | -38.2% |
| Recurring financial charges | 65 | €12,711 | €7,860 | -€4,850 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €14,833 | €71,780 | +€56,947 | +384% |
| Income taxes | 67/77 | €4,142 | €19,698 | +€15,556 | +376% |
| Profit (loss) for the period | 9904 | €10,691 | €52,082 | +€41,391 | +387% |
| Profit (loss) for the period to be appropriated | 9905 | €10,691 | €52,082 | +€41,391 | +387% |
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 15 October 2026 via checked.be.