SaVa: 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.
SaVa
Largest movements
- Intangible fixed assets -€30,000
down €30,000 (-20.0%), from €150,007 to €120,007
- Tangible fixed assets -€19,048
down €19,048 (-19.5%), from €97,700 to €78,651
of which Land and buildings: -€26,509
- Stocks and contracts -€6,898
down €6,898 (-55.2%), from €12,500 to €5,602
- Cash +€5,890
up €5,890 (+46.4%), from €12,694 to €18,584
mainly Depreciation (+€53,203) and Stocks and contracts (+€6,898)
- Current investments -€4,097
no longer reported in 2025 (was €4,097)
- Debts after one year -€22,553
down €22,553 (-46.0%), from €49,052 to €26,500
- Other debts -€13,260
down €13,260 (-5.4%), from €245,415 to €232,154
- Profit (loss) carried forward -€9,346
down €9,346 (-8.7%), from -€107,129 to -€116,475
- Trade debts -€7,036
down €7,036 (-25.5%), from €27,587 to €20,551
- Gross operating margin +€21,804
up €21,804 (+23.4%), from €93,026 to €114,829
- Depreciation -€11,807
down €11,807 (-18.2%), from €65,011 to €53,203
- Staff costs -€1,479
down €1,479 (-2.4%), from €62,588 to €61,110
- Other operating charges -€1,156
down €1,156 (-17.6%), from €6,578 to €5,422
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 | €282,163 | €225,376 | -€56,788 | -20.1% |
| Fixed assets | 21/28 | €247,706 | €198,658 | -€49,048 | -19.8% |
| Intangible fixed assets | 21 | €150,007 | €120,007 | -€30,000 | -20.0% |
| Tangible fixed assets | 22/27 | €97,700 | €78,651 | -€19,048 | -19.5% |
| Land and buildings | 22 | €26,509 | - | -€26,509 | |
| Plant, machinery and equipment | 23 | €19,337 | €16,670 | -€2,666 | -13.8% |
| Furniture and vehicles | 24 | €34,777 | €30,710 | -€4,067 | -11.7% |
| Leasing and similar rights | 25 | €17,078 | €8,168 | -€8,910 | -52.2% |
| Other tangible fixed assets | 26 | - | €23,103 | +€23,103 | |
| Current assets | 29/58 | €34,457 | €26,718 | -€7,739 | -22.5% |
| Stocks and contracts in progress | 3 | €12,500 | €5,602 | -€6,898 | -55.2% |
| Stocks | 30/36 | €12,500 | €5,602 | -€6,898 | -55.2% |
| Amounts receivable within one year | 40/41 | €842 | €1,277 | +€435 | +51.7% |
| Trade receivables | 40 | €842 | €827 | -€15 | -1.7% |
| Other amounts receivable | 41 | - | €450 | +€450 | |
| Current investments | 50/53 | €4,097 | - | -€4,097 | |
| Cash at bank and in hand | 54/58 | €12,694 | €18,584 | +€5,890 | +46.4% |
| Deferred charges and accrued income | 490/1 | €4,324 | €1,255 | -€3,070 | -71.0% |
| Total equity and liabilities | 10/49 | €282,163 | €225,376 | -€56,788 | -20.1% |
| Equity | 10/15 | -€78,017 | -€87,363 | -€9,346 | -12.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €10,563 | €10,563 | = | 0.0% |
| Distributable reserves | 133 | €10,563 | €10,563 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,129 | -€116,475 | -€9,346 | -8.7% |
| Amounts payable | 17/49 | €360,180 | €312,738 | -€47,442 | -13.2% |
| Amounts payable after more than one year | 17 | €49,052 | €26,500 | -€22,553 | -46.0% |
| Financial debts | 170/4 | €49,052 | €26,500 | -€22,553 | -46.0% |
| Amounts payable within one year | 42/48 | €311,128 | €286,239 | -€24,889 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €24,240 | €21,868 | -€2,372 | -9.8% |
| Financial debts | 43 | €266 | - | -€266 | |
| Credit institutions | 430/8 | €266 | - | -€266 | |
| Trade debts | 44 | €27,587 | €20,551 | -€7,036 | -25.5% |
| Suppliers | 440/4 | €27,587 | €20,551 | -€7,036 | -25.5% |
| Taxes, remuneration and social security | 45 | €13,620 | €11,665 | -€1,955 | -14.4% |
| Taxes | 450/3 | €5,958 | €3,022 | -€2,936 | -49.3% |
| Remuneration and social security | 454/9 | €7,662 | €8,643 | +€981 | +12.8% |
| Other amounts payable | 47/48 | €245,415 | €232,154 | -€13,260 | -5.4% |
| Remuneration, social security and pensions | 62 | €62,588 | €61,110 | -€1,479 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,011 | €53,203 | -€11,807 | -18.2% |
| Other operating charges | 640/8 | €6,578 | €5,422 | -€1,156 | -17.6% |
| Gross operating margin | 9900 | €93,026 | €114,829 | +€21,804 | +23.4% |
| Operating profit (loss) | 9901 | -€41,152 | -€4,906 | +€36,245 | +88.1% |
| Financial income | 75/76B | €90 | €33 | -€57 | -63.5% |
| Recurring financial income | 75 | €90 | €33 | -€57 | -63.5% |
| Financial charges | 65/66B | €3,524 | €3,992 | +€467 | +13.3% |
| Recurring financial charges | 65 | €3,524 | €3,992 | +€467 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | -€44,586 | -€8,865 | +€35,721 | +80.1% |
| Income taxes | 67/77 | €452 | €481 | +€29 | +6.4% |
| Profit (loss) for the period | 9904 | -€45,038 | -€9,346 | +€35,692 | +79.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,038 | -€9,346 | +€35,692 | +79.2% |
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.