SARRI: 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.
SARRI
Largest movements
- Receivables within one year -€160,499
down €160,499 (-39.6%), from €405,787 to €245,288
of which Trade receivables: -€158,572
- Tangible fixed assets +€127,255
up €127,255 (+13.4%), from €947,449 to €1.1m
of which Plant, machinery and equipment: +€229,724
- Stocks and contracts -€24,218
down €24,218 (-7.7%), from €313,274 to €289,056
- Cash +€19,727
up €19,727 (+16.7%), from €117,818 to €137,545
mainly Receivables within one year (+€160,499) and Depreciation (+€113,059)
- Debts after one year -€90,189
down €90,189 (-9.4%), from €955,229 to €865,040
- Profit (loss) carried forward +€36,221
up €36,221, from -€19,336 to €16,885
- Trade debts +€35,487
up €35,487 (+46.1%), from €77,030 to €112,517
- Gross operating margin +€137,216
up €137,216 (+51.4%), from €267,059 to €404,275
- Staff costs +€39,215
up €39,215 (+19.7%), from €199,068 to €238,283
- Write-downs -€8,211
no longer reported in 2025 (was €8,211)
- Depreciation +€7,843
up €7,843 (+7.5%), from €105,216 to €113,059
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 | €1,790,329 | €1,752,855 | -€37,474 | -2.1% |
| Formation expenses | 20 | - | €254 | +€254 | |
| Fixed assets | 21/28 | €947,945 | €1,075,200 | +€127,255 | +13.4% |
| Tangible fixed assets | 22/27 | €947,449 | €1,074,704 | +€127,255 | +13.4% |
| Land and buildings | 22 | €947,449 | €842,233 | -€105,216 | -11.1% |
| Plant, machinery and equipment | 23 | - | €229,724 | +€229,724 | |
| Furniture and vehicles | 24 | - | €2,747 | +€2,747 | |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €842,384 | €677,401 | -€164,983 | -19.6% |
| Stocks and contracts in progress | 3 | €313,274 | €289,056 | -€24,218 | -7.7% |
| Stocks | 30/36 | €313,274 | €289,056 | -€24,218 | -7.7% |
| Amounts receivable within one year | 40/41 | €405,787 | €245,288 | -€160,499 | -39.6% |
| Trade receivables | 40 | €403,813 | €245,241 | -€158,572 | -39.3% |
| Other amounts receivable | 41 | €1,974 | €47 | -€1,927 | -97.6% |
| Current investments | 50/53 | €5,505 | €5,512 | +€7 | +0.1% |
| Cash at bank and in hand | 54/58 | €117,818 | €137,545 | +€19,727 | +16.7% |
| Total equity and liabilities | 10/49 | €1,790,329 | €1,752,855 | -€37,474 | -2.1% |
| Equity | 10/15 | €539,928 | €576,149 | +€36,221 | +6.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €359,264 | €359,264 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Other | 1319 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €339,264 | €339,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,336 | €16,885 | +€36,221 | |
| Amounts payable | 17/49 | €1,250,401 | €1,176,706 | -€73,695 | -5.9% |
| Amounts payable after more than one year | 17 | €955,229 | €865,040 | -€90,189 | -9.4% |
| Financial debts | 170/4 | €955,229 | €865,040 | -€90,189 | -9.4% |
| Amounts payable within one year | 42/48 | €293,224 | €311,653 | +€18,429 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €89,301 | €90,189 | +€888 | +1.0% |
| Trade debts | 44 | €77,030 | €112,517 | +€35,487 | +46.1% |
| Suppliers | 440/4 | €77,030 | €112,517 | +€35,487 | +46.1% |
| Taxes, remuneration and social security | 45 | €56,724 | €49,513 | -€7,211 | -12.7% |
| Taxes | 450/3 | €33,476 | €17,059 | -€16,417 | -49.0% |
| Remuneration and social security | 454/9 | €23,248 | €32,454 | +€9,206 | +39.6% |
| Other amounts payable | 47/48 | €70,169 | €59,434 | -€10,735 | -15.3% |
| Accrued charges and deferred income | 492/3 | €1,948 | €13 | -€1,935 | -99.3% |
| Remuneration, social security and pensions | 62 | €199,068 | €238,283 | +€39,215 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,216 | €113,059 | +€7,843 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,211 | - | -€8,211 | |
| Other operating charges | 640/8 | €11,819 | €11,737 | -€82 | -0.7% |
| Gross operating margin | 9900 | €267,059 | €404,275 | +€137,216 | +51.4% |
| Operating profit (loss) | 9901 | -€57,255 | €41,196 | +€98,451 | |
| Financial income | 75/76B | €2,752 | €5,109 | +€2,357 | +85.6% |
| Recurring financial income | 75 | €2,752 | €5,109 | +€2,357 | +85.6% |
| Financial charges | 65/66B | €10,556 | €10,035 | -€521 | -4.9% |
| Recurring financial charges | 65 | €10,556 | €10,035 | -€521 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€65,059 | €36,270 | +€101,329 | |
| Income taxes | 67/77 | -€146 | €49 | +€195 | |
| Profit (loss) for the period | 9904 | -€64,913 | €36,221 | +€101,134 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,913 | €36,221 | +€101,134 |
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.