SAVAN: 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.
SAVAN
Largest movements
- Cash -€121,542
down €121,542 (-71.5%), from €169,994 to €48,452
mainly Trade debts (-€119,819) and Stocks and contracts (-€55,677)
- Stocks and contracts +€55,677
up €55,677 (+25.3%), from €220,247 to €275,924
- Receivables within one year -€6,854
down €6,854 (-3.1%), from €224,191 to €217,337
of which Trade receivables: -€24,904
- Trade debts -€119,819
down €119,819 (-38.4%), from €312,363 to €192,544
- Debts after one year +€26,021
up €26,021 (+1145.4%), from €2,272 to €28,293
- Current portion of long-term debt +€9,052
up €9,052 (+94.5%), from €9,576 to €18,628
- Gross operating margin +€65,472
up €65,472 (+42.3%), from €154,678 to €220,151
- Staff costs +€52,119
up €52,119 (+35.5%), from €146,834 to €198,954
- Financial income -€5,960
down €5,960 (-86.9%), from €6,859 to €898
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 | €625,264 | €547,846 | -€77,418 | -12.4% |
| Fixed assets | 21/28 | €10,832 | €6,133 | -€4,699 | -43.4% |
| Tangible fixed assets | 22/27 | €10,832 | €6,133 | -€4,699 | -43.4% |
| Plant, machinery and equipment | 23 | €1,164 | €466 | -€698 | -60.0% |
| Furniture and vehicles | 24 | €9,668 | €5,667 | -€4,000 | -41.4% |
| Current assets | 29/58 | €614,432 | €541,713 | -€72,719 | -11.8% |
| Stocks and contracts in progress | 3 | €220,247 | €275,924 | +€55,677 | +25.3% |
| Stocks | 30/36 | €220,247 | €275,924 | +€55,677 | +25.3% |
| Amounts receivable within one year | 40/41 | €224,191 | €217,337 | -€6,854 | -3.1% |
| Trade receivables | 40 | €48,516 | €23,612 | -€24,904 | -51.3% |
| Other amounts receivable | 41 | €175,674 | €193,725 | +€18,051 | +10.3% |
| Cash at bank and in hand | 54/58 | €169,994 | €48,452 | -€121,542 | -71.5% |
| Total equity and liabilities | 10/49 | €625,264 | €547,846 | -€77,418 | -12.4% |
| Equity | 10/15 | €239,611 | €243,922 | +€4,311 | +1.8% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €2,100 | €2,100 | = | 0.0% |
| Distributable reserves | 133 | €2,100 | €2,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,511 | €220,822 | +€4,311 | +2.0% |
| Amounts payable | 17/49 | €385,653 | €303,925 | -€81,728 | -21.2% |
| Amounts payable after more than one year | 17 | €2,272 | €28,293 | +€26,021 | +1145.4% |
| Financial debts | 170/4 | €2,272 | €28,293 | +€26,021 | +1145.4% |
| Amounts payable within one year | 42/48 | €383,381 | €275,631 | -€107,750 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €9,576 | €18,628 | +€9,052 | +94.5% |
| Trade debts | 44 | €312,363 | €192,544 | -€119,819 | -38.4% |
| Suppliers | 440/4 | €312,363 | €192,544 | -€119,819 | -38.4% |
| Taxes, remuneration and social security | 45 | €61,411 | €64,429 | +€3,018 | +4.9% |
| Taxes | 450/3 | €37,992 | €53,189 | +€15,197 | +40.0% |
| Remuneration and social security | 454/9 | €23,419 | €11,240 | -€12,179 | -52.0% |
| Other amounts payable | 47/48 | €31 | €31 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €146,834 | €198,954 | +€52,119 | +35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,699 | €4,699 | = | 0.0% |
| Other operating charges | 640/8 | €1,101 | €923 | -€178 | -16.2% |
| Gross operating margin | 9900 | €154,678 | €220,151 | +€65,472 | +42.3% |
| Operating profit (loss) | 9901 | €2,044 | €15,576 | +€13,531 | +661.9% |
| Financial income | 75/76B | €6,859 | €898 | -€5,960 | -86.9% |
| Recurring financial income | 75 | €6,859 | €898 | -€5,960 | -86.9% |
| Financial charges | 65/66B | €7,763 | €9,187 | +€1,425 | +18.4% |
| Recurring financial charges | 65 | €7,763 | €9,187 | +€1,425 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €1,140 | €7,287 | +€6,146 | +539.1% |
| Income taxes | 67/77 | €1,330 | €2,976 | +€1,646 | +123.8% |
| Profit (loss) for the period | 9904 | -€189 | €4,311 | +€4,500 | |
| Profit (loss) for the period to be appropriated | 9905 | -€189 | €4,311 | +€4,500 |
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 29 September 2026 via checked.be.