SAS A.P.: 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.
SAS A.P.
Largest movements
- Receivables within one year +€849,634
up €849,634 (+20.6%), from €4.1m to €5.0m
- Other debts +€906,000
up €906,000 (+19.5%), from €4.7m to €5.6m
- Financial charges -€23,760
no longer reported in 2025 (was €23,760)
- Gross operating margin -€9,070
down €9,070 (-16.2%), from -€55,988 to -€65,057
- Other operating charges -€1,053
no longer reported in 2025 (was €1,053)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,967,436 | €9,793,161 | +€825,724 | +9.2% |
| Fixed assets | 21/28 | €4,527,576 | €4,527,576 | = | 0.0% |
| Financial fixed assets | 28 | €4,527,576 | €4,527,576 | = | 0.0% |
| Current assets | 29/58 | €4,439,861 | €5,265,585 | +€825,724 | +18.6% |
| Amounts receivable within one year | 40/41 | €4,133,464 | €4,983,097 | +€849,634 | +20.6% |
| Other amounts receivable | 41 | €4,133,464 | €4,983,097 | +€849,634 | +20.6% |
| Current investments | 50/53 | €306,397 | €282,488 | -€23,909 | -7.8% |
| Total equity and liabilities | 10/49 | €8,967,436 | €9,793,161 | +€825,724 | +9.2% |
| Equity | 10/15 | €3,305,361 | €3,240,304 | -€65,057 | -2.0% |
| Contributions | 10/11 | €5,000,245 | €5,000,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,694,884 | -€1,759,941 | -€65,057 | -3.8% |
| Amounts payable | 17/49 | €5,662,075 | €6,552,857 | +€890,782 | +15.7% |
| Amounts payable within one year | 42/48 | €5,662,075 | €6,552,857 | +€890,782 | +15.7% |
| Financial debts | 43 | €1,006,210 | €990,991 | -€15,218 | -1.5% |
| Credit institutions | 430/8 | €1,006,210 | €990,991 | -€15,218 | -1.5% |
| Other amounts payable | 47/48 | €4,655,866 | €5,561,866 | +€906,000 | +19.5% |
| Other operating charges | 640/8 | €1,053 | - | -€1,053 | |
| Gross operating margin | 9900 | -€55,988 | -€65,057 | -€9,070 | -16.2% |
| Operating profit (loss) | 9901 | -€57,040 | -€65,057 | -€8,017 | -14.1% |
| Financial charges | 65/66B | €23,760 | - | -€23,760 | |
| Recurring financial charges | 65 | €23,760 | - | -€23,760 | |
| Profit (loss) for the period before taxes | 9903 | -€80,801 | -€65,057 | +€15,743 | +19.5% |
| Profit (loss) for the period | 9904 | -€80,801 | -€65,057 | +€15,743 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,801 | -€65,057 | +€15,743 | +19.5% |
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 21 October 2026 via checked.be.