Saron: 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.
What changed
Saron
NACE 64.910, Financial service activities, except insurance and pension funding
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · -€1.9m+€4.2m
Equity
€30.9m
2024 · €29.2m+€1.8m
Cash
€480,915
2024 · €861,406-€380,490
Balance sheet total
€86.9m
2024 · €84.6m+€2.3m
Largest movements
Assets
- Receivables after one year +€3.2m
up €3.2m (+72.6%), from €4.4m to €7.6m
- Financial fixed assets +€1.8m
up €1.8m (+4.1%), from €43.1m to €44.8m
of which Affiliated companies: +€1.8m
- Receivables within one year -€1.4m
down €1.4m (-27.7%), from €4.9m to €3.6m
of which Other amounts receivable: -€2.4m
Equity and liabilities
- Debts after one year -€13.3m
down €13.3m (-29.4%), from €45.2m to €31.9m
of which Other amounts payable: -€9.0m
- Current portion of long-term debt +€8.3m
up €8.3m (+197.2%), from €4.2m to €12.5m
- Other debts +€5.8m
up €5.8m (+623.6%), from €937,433 to €6.8m
- Profit (loss) carried forward +€1.8m
up €1.8m (+7.7%), from €23.9m to €25.7m
Income statement
- Financial charges -€12.7m
down €12.7m (-80.5%), from €15.7m to €3.1m
of which Financial charges: -€12.7m
- Other operating income -€9.4m
down €9.4m (-92.8%), from €10.1m to €729,078
- Turnover +€399,496
up €399,496 (+6.0%), from €6.6m to €7.0m
- Taxes -€376,787
down €376,787 (-49.0%), from €769,022 to €392,235
of which Taxes: -€412,803
- Write-downs -€239,754
no longer reported in 2025 (was €239,754)
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.
Result 2024
-€1.9m
Turnover
+€399,496
Other operating income
-€9.4m
Services and other goods
-€32,566
Depreciation
-€20,354
Write-downs
+€239,754
Other operating charges
+€57,889
Financial income
-€171,328
Financial charges
+€12.7m
Taxes
+€376,787
Deferred taxes and other
+€673
Result 2025
€2.3m
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.
From operations
+€6.7m
Investment
-€2.4m
Financing
-€4.7m
Cash 2024
€861,406
From operations (derived)
+€6.7m
Net result for the year
+€2.3m
Depreciation
+€1.2m
Receivables after one year
-€3.2m
Receivables within one year
+€1.4m
Deferred charges and accrued income
+€278,733
Provisions
-€25,156
Trade debts
-€476,035
Tax, wage and social debts
+€199,647
Other debts
+€5.8m
Accrued charges and deferred income
-€756,392
Investment (derived)
-€2.4m
Investment in fixed assets (net)
-€2.4m
Financing
-€4.7m
Debts after one year
-€13.3m
Current portion of long-term debt
+€8.3m
Short-term financial debts
+€777,578
Contributions, distributions and other
-€500,000
Cash 2025
€480,915
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,563,757 | €86,872,714 | +€2.3m | +2.7% |
| Fixed assets | 21/28 | €69,659,504 | €70,785,818 | +€1.1m | +1.6% |
| Intangible fixed assets | 21 | €56,989 | €16,761 | -€40,227 | -70.6% |
| Tangible fixed assets | 22/27 | €26,552,148 | €25,942,067 | -€610,081 | -2.3% |
| Land and buildings | 22 | €26,222,987 | €25,466,481 | -€756,506 | -2.9% |
| Plant, machinery and equipment | 23 | €308,080 | €299,232 | -€8,848 | -2.9% |
| Furniture and vehicles | 24 | €21,081 | €18,938 | -€2,144 | -10.2% |
| Assets under construction and advance payments | 27 | - | €157,417 | +€157,417 | |
| Financial fixed assets | 28 | €43,050,367 | €44,826,990 | +€1.8m | +4.1% |
| Affiliated companies | 280/1 | €2,247,650 | €4,024,273 | +€1.8m | +79.0% |
| Participating interests | 280 | €2,247,650 | €4,024,273 | +€1.8m | +79.0% |
| Companies linked by participating interests | 282/3 | €40,575,842 | €40,575,842 | = | 0.0% |
| Participating interests | 282 | €40,575,842 | €40,575,842 | = | 0.0% |
| Other financial fixed assets | 284/8 | €226,875 | €226,875 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €226,875 | €226,875 | = | 0.0% |
| Current assets | 29/58 | €14,904,253 | €16,086,896 | +€1.2m | +7.9% |
| Amounts receivable after more than one year | 29 | €4,417,958 | €7,623,777 | +€3.2m | +72.6% |
| Other amounts receivable | 291 | €4,417,958 | €7,623,777 | +€3.2m | +72.6% |
| Amounts receivable within one year | 40/41 | €4,923,318 | €3,559,366 | -€1.4m | -27.7% |
| Trade receivables | 40 | €471,130 | €1,491,499 | +€1.0m | +216.6% |
| Other amounts receivable | 41 | €4,452,188 | €2,067,867 | -€2.4m | -53.6% |
| Cash at bank and in hand | 54/58 | €861,406 | €480,915 | -€380,490 | -44.2% |
| Deferred charges and accrued income | 490/1 | €4,701,571 | €4,422,838 | -€278,733 | -5.9% |
| Total equity and liabilities | 10/49 | €84,563,757 | €86,872,714 | +€2.3m | +2.7% |
| Equity | 10/15 | €29,188,443 | €30,942,746 | +€1.8m | +6.0% |
| Contributions | 10/11 | €380,691 | €380,691 | = | 0.0% |
| Capital | 10 | €380,691 | €380,691 | = | 0.0% |
| Issued capital | 100 | €380,691 | €380,691 | = | 0.0% |
| Reserves | 13 | €4,922,166 | €4,846,697 | -€75,469 | -1.5% |
| Non-distributable reserves | 130/1 | €38,112 | €38,112 | = | 0.0% |
| Legal reserve | 130 | €38,069 | €38,069 | = | 0.0% |
| Reserves not available under the articles | 1311 | €43 | €43 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,921,248 | €1,845,779 | -€75,469 | -3.9% |
| Distributable reserves | 133 | €2,962,807 | €2,962,807 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,885,585 | €25,715,357 | +€1.8m | +7.7% |
| Provisions and deferred taxes | 16 | €1,467,043 | €1,441,886 | -€25,156 | -1.7% |
| Provisions for liabilities and charges | 160/5 | €983,474 | €983,474 | = | 0.0% |
| Other liabilities and charges | 164/5 | €983,474 | €983,474 | = | 0.0% |
| Deferred taxes | 168 | €483,569 | €458,413 | -€25,156 | -5.2% |
| Amounts payable | 17/49 | €53,908,271 | €54,488,082 | +€579,811 | +1.1% |
| Amounts payable after more than one year | 17 | €45,231,535 | €31,926,818 | -€13.3m | -29.4% |
| Financial debts | 170/4 | €36,132,087 | €31,814,061 | -€4.3m | -12.0% |
| Credit institutions | 173 | €30,735,007 | €28,062,744 | -€2.7m | -8.7% |
| Other loans | 174 | €5,397,079 | €3,751,317 | -€1.6m | -30.5% |
| Other amounts payable | 178/9 | €9,099,448 | €112,758 | -€9.0m | -98.8% |
| Amounts payable within one year | 42/48 | €7,346,126 | €21,987,046 | +€14.6m | +199.3% |
| Current portion of amounts payable after more than one year | 42 | €4,206,013 | €12,499,706 | +€8.3m | +197.2% |
| Financial debts | 43 | - | €777,578 | +€777,578 | |
| Credit institutions | 430/8 | - | €777,578 | +€777,578 | |
| Trade debts | 44 | €886,434 | €410,399 | -€476,035 | -53.7% |
| Suppliers | 440/4 | €886,434 | €410,399 | -€476,035 | -53.7% |
| Taxes, remuneration and social security | 45 | €1,316,246 | €1,515,893 | +€199,647 | +15.2% |
| Taxes | 450/3 | €1,316,246 | €1,515,893 | +€199,647 | +15.2% |
| Other amounts payable | 47/48 | €937,433 | €6,783,470 | +€5.8m | +623.6% |
| Accrued charges and deferred income | 492/3 | €1,330,610 | €574,218 | -€756,392 | -56.8% |
| Operating income | 70/76A | €16,759,181 | €7,778,160 | -€9.0m | -53.6% |
| Turnover | 70 | €6,649,585 | €7,049,081 | +€399,496 | +6.0% |
| Other operating income | 74 | €10,109,596 | €729,078 | -€9.4m | -92.8% |
| Operating charges | 60/66A | €3,382,837 | €3,138,114 | -€244,723 | -7.2% |
| Services and other goods | 61 | €1,385,835 | €1,418,402 | +€32,566 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,225,373 | €1,245,727 | +€20,354 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €239,754 | - | -€239,754 | |
| Other operating charges | 640/8 | €531,874 | €473,985 | -€57,889 | -10.9% |
| Operating profit (loss) | 9901 | €13,376,344 | €4,640,046 | -€8.7m | -65.3% |
| Financial income | 75/76B | €1,217,688 | €1,046,359 | -€171,328 | -14.1% |
| Recurring financial income | 75 | €1,217,688 | €726,272 | -€491,416 | -40.4% |
| Income from current assets | 751 | €578,078 | €675,836 | +€97,758 | +16.9% |
| Other financial income | 752/9 | €639,610 | €50,436 | -€589,174 | -92.1% |
| Non-recurring financial income | 76B | - | €320,087 | +€320,087 | |
| Financial charges | 65/66B | €15,749,102 | €3,065,023 | -€12.7m | -80.5% |
| Recurring financial charges | 65 | €15,743,907 | €3,065,023 | -€12.7m | -80.5% |
| Debt charges | 650 | €2,634,745 | €2,138,977 | -€495,767 | -18.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €12,808,460 | €334,708 | -€12.5m | -97.4% |
| Other financial charges | 652/9 | €300,702 | €591,339 | +€290,637 | +96.7% |
| Non-recurring financial charges | 66B | €5,195 | - | -€5,195 | |
| Profit (loss) for the period before taxes | 9903 | -€1,155,070 | €2,621,382 | +€3.8m | |
| Transfer from deferred taxes | 780 | €24,483 | €25,156 | +€673 | +2.8% |
| Income taxes | 67/77 | €769,022 | €392,235 | -€376,787 | -49.0% |
| Taxes | 670/3 | €949,533 | €536,730 | -€412,803 | -43.5% |
| Tax adjustments and reversals of tax provisions | 77 | €180,511 | €144,495 | -€36,016 | -20.0% |
| Profit (loss) for the period | 9904 | -€1,899,609 | €2,254,303 | +€4.2m | |
| Transfer from tax-exempt reserves | 789 | €73,449 | €75,469 | +€2,020 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,826,160 | €2,329,771 | +€4.2m |
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 12 October 2026 via checked.be.