SAS ELECTRO PROJECTS: 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 ELECTRO PROJECTS
Largest movements
- Receivables within one year -€18,973
down €18,973 (-59.8%), from €31,747 to €12,774
of which Trade receivables: -€23,607
- Stocks and contracts +€14,973
up €14,973 (+52.4%), from €28,563 to €43,536
of which Contracts in progress: +€14,319
- Tangible fixed assets -€6,197
down €6,197 (-15.3%), from €40,485 to €34,288
of which Furniture and vehicles: -€6,119
- Profit (loss) carried forward -€14,574
down €14,574 (-68.6%), from -€21,255 to -€35,829
- Other debts +€12,837
up €12,837 (+29.4%), from €43,675 to €56,512
- Debts after one year -€4,860
down €4,860 (-70.4%), from €6,899 to €2,039
- Tax, wage and social debts -€2,310
down €2,310 (-77.3%), from €2,988 to €678
- Gross operating margin -€9,659
down €9,659 (-59.3%), from €16,279 to €6,620
- Depreciation +€5,283
up €5,283 (+45.0%), from €11,734 to €17,016
- Staff costs +€349
new in 2025: €349
- Financial charges +€336
up €336 (+24.8%), from €1,359 to €1,696
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 | €108,009 | €97,553 | -€10,456 | -9.7% |
| Fixed assets | 21/28 | €40,485 | €34,288 | -€6,197 | -15.3% |
| Tangible fixed assets | 22/27 | €40,485 | €34,288 | -€6,197 | -15.3% |
| Land and buildings | 22 | - | €3,159 | +€3,159 | |
| Plant, machinery and equipment | 23 | €22,113 | €18,877 | -€3,237 | -14.6% |
| Furniture and vehicles | 24 | €18,371 | €12,252 | -€6,119 | -33.3% |
| Current assets | 29/58 | €67,524 | €63,265 | -€4,259 | -6.3% |
| Stocks and contracts in progress | 3 | €28,563 | €43,536 | +€14,973 | +52.4% |
| Stocks | 30/36 | €25,127 | €25,780 | +€654 | +2.6% |
| Contracts in progress | 37 | €3,436 | €17,755 | +€14,319 | +416.7% |
| Amounts receivable within one year | 40/41 | €31,747 | €12,774 | -€18,973 | -59.8% |
| Trade receivables | 40 | €31,747 | €8,140 | -€23,607 | -74.4% |
| Other amounts receivable | 41 | - | €4,634 | +€4,634 | |
| Cash at bank and in hand | 54/58 | €7,002 | €6,705 | -€296 | -4.2% |
| Deferred charges and accrued income | 490/1 | €212 | €250 | +€37 | +17.5% |
| Total equity and liabilities | 10/49 | €108,009 | €97,553 | -€10,456 | -9.7% |
| Equity | 10/15 | €37,346 | €22,773 | -€14,574 | -39.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €48,601 | €48,601 | = | 0.0% |
| Distributable reserves | 133 | €48,601 | €48,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,255 | -€35,829 | -€14,574 | -68.6% |
| Amounts payable | 17/49 | €70,662 | €74,780 | +€4,118 | +5.8% |
| Amounts payable after more than one year | 17 | €6,899 | €2,039 | -€4,860 | -70.4% |
| Financial debts | 170/4 | €6,899 | €2,039 | -€4,860 | -70.4% |
| Amounts payable within one year | 42/48 | €63,763 | €72,741 | +€8,978 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €6,577 | €5,885 | -€692 | -10.5% |
| Trade debts | 44 | €10,523 | €9,665 | -€857 | -8.1% |
| Suppliers | 440/4 | €10,523 | €9,665 | -€857 | -8.1% |
| Taxes, remuneration and social security | 45 | €2,988 | €678 | -€2,310 | -77.3% |
| Taxes | 450/3 | €2,988 | €678 | -€2,310 | -77.3% |
| Other amounts payable | 47/48 | €43,675 | €56,512 | +€12,837 | +29.4% |
| Remuneration, social security and pensions | 62 | - | €349 | +€349 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,734 | €17,016 | +€5,283 | +45.0% |
| Other operating charges | 640/8 | €2,072 | €1,992 | -€81 | -3.9% |
| Gross operating margin | 9900 | €16,279 | €6,620 | -€9,659 | -59.3% |
| Operating profit (loss) | 9901 | €2,473 | -€12,737 | -€15,210 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,359 | €1,696 | +€336 | +24.8% |
| Recurring financial charges | 65 | €1,359 | €1,696 | +€336 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €1,114 | -€14,433 | -€15,547 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €975 | -€14,574 | -€15,549 | |
| Profit (loss) for the period to be appropriated | 9905 | €975 | -€14,574 | -€15,549 |
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 11 October 2026 via checked.be.