SAVAT: 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.
SAVAT
Largest movements
- Receivables within one year -€60,010
down €60,010 (-48.6%), from €123,465 to €63,456
of which Trade receivables: -€60,976
- Stocks and contracts -€7,451
down €7,451 (-5.9%), from €127,300 to €119,849
- Intangible fixed assets +€7,178
new in 2025: €7,178
- Cash -€3,639
down €3,639 (-49.0%), from €7,432 to €3,793
mainly Trade debts (-€44,817) and Investment in fixed assets (net) (-€11,792)
- Trade debts -€44,817
down €44,817 (-62.4%), from €71,824 to €27,007
- Profit (loss) carried forward -€11,662
down €11,662, from €0 to -€11,662
- Tax, wage and social debts -€10,208
down €10,208 (-55.2%), from €18,502 to €8,294
of which Remuneration and social security: -€5,713
- Revaluation surpluses -€3,748
down €3,748 (-10.8%), from €34,777 to €31,030
- Reserves +€3,748
up €3,748 (+2.3%), from €163,604 to €167,351
of which Distributable reserves: +€3,748
- Gross operating margin -€27,493
down €27,493 (-31.9%), from €86,080 to €58,587
- Other operating charges -€4,829
down €4,829 (-41.3%), from €11,693 to €6,864
- Depreciation -€4,604
down €4,604 (-38.9%), from €11,831 to €7,227
- Taxes -€2,936
down €2,936 (-92.4%), from €3,178 to €242
- Financial charges -€1,181
down €1,181 (-13.4%), from €8,830 to €7,649
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 | €354,908 | €288,415 | -€66,493 | -18.7% |
| Fixed assets | 21/28 | €90,369 | €94,934 | +€4,566 | +5.1% |
| Intangible fixed assets | 21 | - | €7,178 | +€7,178 | |
| Tangible fixed assets | 22/27 | €90,369 | €87,756 | -€2,613 | -2.9% |
| Land and buildings | 22 | €71,025 | €74,432 | +€3,407 | +4.8% |
| Plant, machinery and equipment | 23 | €17,602 | €12,922 | -€4,680 | -26.6% |
| Furniture and vehicles | 24 | €1,741 | €401 | -€1,340 | -77.0% |
| Current assets | 29/58 | €264,540 | €193,481 | -€71,059 | -26.9% |
| Stocks and contracts in progress | 3 | €127,300 | €119,849 | -€7,451 | -5.9% |
| Stocks | 30/36 | €127,300 | €119,849 | -€7,451 | -5.9% |
| Amounts receivable within one year | 40/41 | €123,465 | €63,456 | -€60,010 | -48.6% |
| Trade receivables | 40 | €116,885 | €55,909 | -€60,976 | -52.2% |
| Other amounts receivable | 41 | €6,581 | €7,547 | +€967 | +14.7% |
| Cash at bank and in hand | 54/58 | €7,432 | €3,793 | -€3,639 | -49.0% |
| Deferred charges and accrued income | 490/1 | €6,343 | €6,383 | +€40 | +0.6% |
| Total equity and liabilities | 10/49 | €354,908 | €288,415 | -€66,493 | -18.7% |
| Equity | 10/15 | €216,981 | €205,319 | -€11,662 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €34,777 | €31,030 | -€3,748 | -10.8% |
| Reserves | 13 | €163,604 | €167,351 | +€3,748 | +2.3% |
| Tax-exempt reserves | 132 | €14,793 | €14,793 | = | 0.0% |
| Distributable reserves | 133 | €148,811 | €152,559 | +€3,748 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | -€11,662 | -€11,662 | |
| Amounts payable | 17/49 | €137,927 | €83,096 | -€54,832 | -39.8% |
| Amounts payable within one year | 42/48 | €136,663 | €82,624 | -€54,039 | -39.5% |
| Financial debts | 43 | €25,425 | €27,096 | +€1,672 | +6.6% |
| Credit institutions | 430/8 | €25,425 | €27,096 | +€1,672 | +6.6% |
| Trade debts | 44 | €71,824 | €27,007 | -€44,817 | -62.4% |
| Suppliers | 440/4 | €71,824 | €27,007 | -€44,817 | -62.4% |
| Taxes, remuneration and social security | 45 | €18,502 | €8,294 | -€10,208 | -55.2% |
| Taxes | 450/3 | €7,063 | €2,568 | -€4,494 | -63.6% |
| Remuneration and social security | 454/9 | €11,439 | €5,726 | -€5,713 | -49.9% |
| Other amounts payable | 47/48 | €20,912 | €20,226 | -€686 | -3.3% |
| Accrued charges and deferred income | 492/3 | €1,264 | €471 | -€793 | -62.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €49,060 | €48,493 | -€567 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,831 | €7,227 | -€4,604 | -38.9% |
| Other operating charges | 640/8 | €11,693 | €6,864 | -€4,829 | -41.3% |
| Gross operating margin | 9900 | €86,080 | €58,587 | -€27,493 | -31.9% |
| Operating profit (loss) | 9901 | €13,496 | -€3,997 | -€17,494 | |
| Financial income | 75/76B | €202 | €226 | +€24 | +11.9% |
| Recurring financial income | 75 | €202 | €226 | +€24 | +11.9% |
| Financial charges | 65/66B | €8,830 | €7,649 | -€1,181 | -13.4% |
| Recurring financial charges | 65 | €8,830 | €7,649 | -€1,181 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €4,868 | -€11,420 | -€16,288 | |
| Income taxes | 67/77 | €3,178 | €242 | -€2,936 | -92.4% |
| Profit (loss) for the period | 9904 | €1,691 | -€11,662 | -€13,352 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,691 | -€11,662 | -€13,352 |
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 3 October 2026 via checked.be.