SAS Group: 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 Group
Largest movements
- Receivables within one year +€40,930
up €40,930 (+113%), from €36,237 to €77,167
of which Trade receivables: +€41,791
- Tangible fixed assets +€18,585
up €18,585 (+115%), from €16,205 to €34,790
of which Other tangible fixed assets: +€14,953
- Cash +€5,328
up €5,328 (+18.6%), from €28,692 to €34,019
mainly Net result for the year (+€41,640) and Trade debts (+€22,042)
- Intangible fixed assets -€4,780
down €4,780 (-12.1%), from €39,483 to €34,703
- Profit (loss) carried forward +€41,640
up €41,640, from -€29,325 to €12,315
- Trade debts +€22,042
up €22,042 (+38.4%), from €57,397 to €79,439
- Accrued charges and deferred income -€16,000
no longer reported in 2025 (was €16,000)
- Tax, wage and social debts +€10,860
up €10,860 (+48.4%), from €22,416 to €33,277
of which Remuneration and social security: +€10,445
- Gross operating margin +€61,400
up €61,400 (+49.2%), from €124,880 to €186,279
- Staff costs +€55,116
up €55,116 (+77.4%), from €71,178 to €126,294
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 | €134,867 | €191,923 | +€57,056 | +42.3% |
| Fixed assets | 21/28 | €62,293 | €76,098 | +€13,806 | +22.2% |
| Intangible fixed assets | 21 | €39,483 | €34,703 | -€4,780 | -12.1% |
| Tangible fixed assets | 22/27 | €16,205 | €34,790 | +€18,585 | +115% |
| Furniture and vehicles | 24 | - | €3,633 | +€3,633 | |
| Other tangible fixed assets | 26 | €16,205 | €31,158 | +€14,953 | +92.3% |
| Financial fixed assets | 28 | €6,605 | €6,605 | = | 0.0% |
| Current assets | 29/58 | €72,574 | €115,825 | +€43,251 | +59.6% |
| Stocks and contracts in progress | 3 | €5,908 | €4,639 | -€1,269 | -21.5% |
| Stocks | 30/36 | €5,908 | €4,639 | -€1,269 | -21.5% |
| Amounts receivable within one year | 40/41 | €36,237 | €77,167 | +€40,930 | +113% |
| Trade receivables | 40 | €34,760 | €76,551 | +€41,791 | +120% |
| Other amounts receivable | 41 | €1,477 | €616 | -€861 | -58.3% |
| Cash at bank and in hand | 54/58 | €28,692 | €34,019 | +€5,328 | +18.6% |
| Deferred charges and accrued income | 490/1 | €1,737 | - | -€1,737 | |
| Total equity and liabilities | 10/49 | €134,867 | €191,923 | +€57,056 | +42.3% |
| Equity | 10/15 | -€19,325 | €22,315 | +€41,640 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,325 | €12,315 | +€41,640 | |
| Amounts payable | 17/49 | €154,192 | €169,608 | +€15,416 | +10.0% |
| Amounts payable within one year | 42/48 | €138,192 | €169,608 | +€31,416 | +22.7% |
| Trade debts | 44 | €57,397 | €79,439 | +€22,042 | +38.4% |
| Suppliers | 440/4 | €57,397 | €79,439 | +€22,042 | +38.4% |
| Taxes, remuneration and social security | 45 | €22,416 | €33,277 | +€10,860 | +48.4% |
| Taxes | 450/3 | €5,495 | €5,909 | +€415 | +7.5% |
| Remuneration and social security | 454/9 | €16,922 | €27,367 | +€10,445 | +61.7% |
| Other amounts payable | 47/48 | €58,378 | €56,892 | -€1,486 | -2.5% |
| Accrued charges and deferred income | 492/3 | €16,000 | - | -€16,000 | |
| Remuneration, social security and pensions | 62 | €71,178 | €126,294 | +€55,116 | +77.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,550 | €10,349 | +€800 | +8.4% |
| Other operating charges | 640/8 | €6,243 | €6,418 | +€175 | +2.8% |
| Gross operating margin | 9900 | €124,880 | €186,279 | +€61,400 | +49.2% |
| Operating profit (loss) | 9901 | €37,909 | €43,219 | +€5,310 | +14.0% |
| Financial income | 75/76B | €31 | €6 | -€25 | -80.3% |
| Recurring financial income | 75 | €31 | €6 | -€25 | -80.3% |
| Financial charges | 65/66B | €920 | €1,584 | +€664 | +72.2% |
| Recurring financial charges | 65 | €920 | €1,584 | +€664 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €37,020 | €41,640 | +€4,621 | +12.5% |
| Profit (loss) for the period | 9904 | €37,020 | €41,640 | +€4,621 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,020 | €41,640 | +€4,621 | +12.5% |
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 14 October 2026 via checked.be.