SAVAL: 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.
SAVAL
Largest movements
- Cash +€377,762
up €377,762 (+95.5%), from €395,536 to €773,298
mainly Net result for the year (+€393,639) and Depreciation (+€114,130)
- Receivables within one year +€85,948
up €85,948 (+8.0%), from €1.1m to €1.2m
of which Trade receivables: +€100,255
- Intangible fixed assets -€79,547
down €79,547 (-11.1%), from €718,900 to €639,354
- Reserves +€393,639
up €393,639 (+23.9%), from €1.6m to €2.0m
of which Distributable reserves: +€473,185
- Gross operating margin +€267,878
up €267,878 (+9.8%), from €2.7m to €3.0m
- Taxes +€165,894
up €165,894 (+247.3%), from €67,078 to €232,972
- Staff costs +€138,322
up €138,322 (+7.1%), from €2.0m to €2.1m
- Other operating charges -€127,939
down €127,939 (-55.7%), from €229,876 to €101,937
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,963,044 | €3,305,836 | +€342,792 | +11.6% |
| Fixed assets | 21/28 | €789,294 | €678,762 | -€110,532 | -14.0% |
| Intangible fixed assets | 21 | €718,900 | €639,354 | -€79,547 | -11.1% |
| Tangible fixed assets | 22/27 | €48,006 | €15,160 | -€32,846 | -68.4% |
| Plant, machinery and equipment | 23 | €4,170 | €400 | -€3,770 | -90.4% |
| Furniture and vehicles | 24 | €877 | €386 | -€491 | -56.0% |
| Other tangible fixed assets | 26 | €42,958 | €14,374 | -€28,584 | -66.5% |
| Financial fixed assets | 28 | €22,389 | €24,249 | +€1,860 | +8.3% |
| Current assets | 29/58 | €2,173,750 | €2,627,074 | +€453,324 | +20.9% |
| Stocks and contracts in progress | 3 | €703,629 | €693,243 | -€10,386 | -1.5% |
| Stocks | 30/36 | €703,629 | €593,860 | -€109,769 | -15.6% |
| Contracts in progress | 37 | - | €99,383 | +€99,383 | |
| Amounts receivable within one year | 40/41 | €1,074,586 | €1,160,534 | +€85,948 | +8.0% |
| Trade receivables | 40 | €1,060,279 | €1,160,534 | +€100,255 | +9.5% |
| Other amounts receivable | 41 | €14,307 | - | -€14,307 | |
| Cash at bank and in hand | 54/58 | €395,536 | €773,298 | +€377,762 | +95.5% |
| Total equity and liabilities | 10/49 | €2,963,044 | €3,305,836 | +€342,792 | +11.6% |
| Equity | 10/15 | €1,710,657 | €2,104,296 | +€393,639 | +23.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,648,657 | €2,042,296 | +€393,639 | +23.9% |
| Non-distributable reserves | 130/1 | €6,675 | €6,675 | = | 0.0% |
| Legal reserve | 130 | €6,675 | €6,675 | = | 0.0% |
| Tax-exempt reserves | 132 | €715,919 | €636,372 | -€79,547 | -11.1% |
| Distributable reserves | 133 | €926,064 | €1,399,250 | +€473,185 | +51.1% |
| Amounts payable | 17/49 | €1,252,387 | €1,201,540 | -€50,847 | -4.1% |
| Amounts payable after more than one year | 17 | €0 | - | -€0 | |
| Financial debts | 170/4 | €0 | - | -€0 | |
| Amounts payable within one year | 42/48 | €1,252,386 | €1,201,540 | -€50,846 | -4.1% |
| Trade debts | 44 | €871,380 | €848,607 | -€22,773 | -2.6% |
| Suppliers | 440/4 | €871,380 | €848,607 | -€22,773 | -2.6% |
| Taxes, remuneration and social security | 45 | €381,006 | €352,933 | -€28,073 | -7.4% |
| Taxes | 450/3 | €185,272 | €163,730 | -€21,542 | -11.6% |
| Remuneration and social security | 454/9 | €195,734 | €189,203 | -€6,531 | -3.3% |
| Remuneration, social security and pensions | 62 | €1,953,344 | €2,091,665 | +€138,322 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,410 | €114,130 | -€8,280 | -6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,609 | €19,871 | +€14,262 | +254.3% |
| Other operating charges | 640/8 | €229,876 | €101,937 | -€127,939 | -55.7% |
| Non-recurring operating charges | 66A | €172,800 | €17,450 | -€155,350 | -89.9% |
| Gross operating margin | 9900 | €2,740,410 | €3,008,288 | +€267,878 | +9.8% |
| Operating profit (loss) | 9901 | €256,372 | €663,234 | +€406,863 | +158.7% |
| Financial income | 75/76B | €5,093 | €2,467 | -€2,626 | -51.6% |
| Recurring financial income | 75 | €5,093 | €2,467 | -€2,626 | -51.6% |
| Financial charges | 65/66B | €26,955 | €39,090 | +€12,135 | +45.0% |
| Recurring financial charges | 65 | €26,955 | €39,090 | +€12,135 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €234,510 | €626,611 | +€392,101 | +167.2% |
| Income taxes | 67/77 | €67,078 | €232,972 | +€165,894 | +247.3% |
| Profit (loss) for the period | 9904 | €167,432 | €393,639 | +€226,207 | +135.1% |
| Transfer from tax-exempt reserves | 789 | €79,547 | €79,547 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €795,465 | - | -€795,465 | |
| Profit (loss) for the period to be appropriated | 9905 | -€548,487 | €473,185 | +€1.0m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.