Sava Projects: 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.
Sava Projects
Largest movements
- Current investments +€15,000
up €15,000 (+37.5%), from €40,000 to €55,000
- Cash +€12,999
up €12,999 (+22330.6%), from €58 to €13,057
mainly Net result for the year (+€37,510) and Depreciation (+€12,750)
- Tangible fixed assets -€12,750
down €12,750 (-25.9%), from €49,245 to €36,495
of which Furniture and vehicles: -€12,070
- Stocks and contracts +€2,170
up €2,170 (+21.2%), from €10,217 to €12,387
- Reserves +€37,510
up €37,510 (+38.7%), from €96,900 to €134,410
- Current portion of long-term debt -€20,400
no longer reported in 2025 (was €20,400)
- Tax, wage and social debts -€7,635
down €7,635 (-59.3%), from €12,879 to €5,245
- Other debts +€3,939
up €3,939 (+469.9%), from €838 to €4,777
- Trade debts +€2,797
up €2,797 (+53.6%), from €5,218 to €8,015
- Gross operating margin -€7,823
down €7,823 (-11.3%), from €69,415 to €61,591
- Taxes -€5,230
down €5,230 (-33.2%), from €15,756 to €10,526
- Financial charges -€1,281
down €1,281 (-81.1%), from €1,579 to €298
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 | €142,944 | €157,917 | +€14,972 | +10.5% |
| Fixed assets | 21/28 | €49,245 | €36,495 | -€12,750 | -25.9% |
| Tangible fixed assets | 22/27 | €49,245 | €36,495 | -€12,750 | -25.9% |
| Plant, machinery and equipment | 23 | €2,040 | €1,360 | -€680 | -33.3% |
| Furniture and vehicles | 24 | €47,205 | €35,135 | -€12,070 | -25.6% |
| Current assets | 29/58 | €93,700 | €121,422 | +€27,722 | +29.6% |
| Stocks and contracts in progress | 3 | €10,217 | €12,387 | +€2,170 | +21.2% |
| Stocks | 30/36 | €10,217 | €12,387 | +€2,170 | +21.2% |
| Amounts receivable within one year | 40/41 | €37,878 | €36,478 | -€1,400 | -3.7% |
| Trade receivables | 40 | €37,878 | €29,905 | -€7,973 | -21.0% |
| Other amounts receivable | 41 | - | €6,573 | +€6,573 | |
| Current investments | 50/53 | €40,000 | €55,000 | +€15,000 | +37.5% |
| Cash at bank and in hand | 54/58 | €58 | €13,057 | +€12,999 | +22330.6% |
| Deferred charges and accrued income | 490/1 | €5,547 | €4,501 | -€1,046 | -18.9% |
| Total equity and liabilities | 10/49 | €142,944 | €157,917 | +€14,972 | +10.5% |
| Equity | 10/15 | €97,000 | €134,510 | +€37,510 | +38.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €96,900 | €134,410 | +€37,510 | +38.7% |
| Distributable reserves | 133 | €96,900 | €134,410 | +€37,510 | +38.7% |
| Amounts payable | 17/49 | €45,944 | €23,406 | -€22,538 | -49.1% |
| Amounts payable after more than one year | 17 | €5,210 | €5,210 | = | 0.0% |
| Financial debts | 170/4 | €5,210 | €5,210 | = | 0.0% |
| Amounts payable within one year | 42/48 | €39,336 | €18,036 | -€21,299 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €20,400 | - | -€20,400 | |
| Trade debts | 44 | €5,218 | €8,015 | +€2,797 | +53.6% |
| Suppliers | 440/4 | €5,218 | €8,015 | +€2,797 | +53.6% |
| Taxes, remuneration and social security | 45 | €12,879 | €5,245 | -€7,635 | -59.3% |
| Taxes | 450/3 | €12,879 | €5,245 | -€7,635 | -59.3% |
| Other amounts payable | 47/48 | €838 | €4,777 | +€3,939 | +469.9% |
| Accrued charges and deferred income | 492/3 | €1,398 | €160 | -€1,238 | -88.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,750 | €12,750 | = | 0.0% |
| Other operating charges | 640/8 | €445 | €949 | +€503 | +113.0% |
| Gross operating margin | 9900 | €69,415 | €61,591 | -€7,823 | -11.3% |
| Operating profit (loss) | 9901 | €56,220 | €47,893 | -€8,326 | -14.8% |
| Financial income | 75/76B | €406 | €441 | +€35 | +8.6% |
| Recurring financial income | 75 | €406 | €441 | +€35 | +8.6% |
| Financial charges | 65/66B | €1,579 | €298 | -€1,281 | -81.1% |
| Recurring financial charges | 65 | €1,579 | €298 | -€1,281 | -81.1% |
| Profit (loss) for the period before taxes | 9903 | €55,047 | €48,036 | -€7,011 | -12.7% |
| Income taxes | 67/77 | €15,756 | €10,526 | -€5,230 | -33.2% |
| Profit (loss) for the period | 9904 | €39,290 | €37,510 | -€1,780 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,290 | €37,510 | -€1,780 | -4.5% |
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.