Saveguard: 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.
Saveguard
Largest movements
- Cash +€37,048
up €37,048 (+64.0%), from €57,869 to €94,917
mainly Net result for the year (+€37,407) and Depreciation (+€19,549)
- Reserves +€33,907
up €33,907 (+49.1%), from €69,007 to €102,915
of which Distributable reserves: +€33,907
- Trade debts +€17,762
up €17,762 (+127.5%), from €13,927 to €31,690
- Current portion of long-term debt -€16,462
no longer reported in 2025 (was €16,462)
- Other debts +€4,281
up €4,281 (+161.9%), from €2,644 to €6,925
- Gross operating margin +€22,362
up €22,362 (+52.1%), from €42,896 to €65,258
- Depreciation +€5,725
up €5,725 (+41.4%), from €13,824 to €19,549
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 | €117,624 | €157,095 | +€39,471 | +33.6% |
| Fixed assets | 21/28 | €28,154 | €29,024 | +€871 | +3.1% |
| Tangible fixed assets | 22/27 | €28,114 | €28,984 | +€871 | +3.1% |
| Plant, machinery and equipment | 23 | €3,306 | €2,235 | -€1,072 | -32.4% |
| Furniture and vehicles | 24 | - | €14,267 | +€14,267 | |
| Leasing and similar rights | 25 | €24,807 | €12,483 | -€12,325 | -49.7% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €89,470 | €128,070 | +€38,600 | +43.1% |
| Amounts receivable within one year | 40/41 | €31,601 | €32,780 | +€1,179 | +3.7% |
| Trade receivables | 40 | €13,282 | €22,996 | +€9,714 | +73.1% |
| Other amounts receivable | 41 | €18,319 | €9,784 | -€8,535 | -46.6% |
| Cash at bank and in hand | 54/58 | €57,869 | €94,917 | +€37,048 | +64.0% |
| Deferred charges and accrued income | 490/1 | - | €374 | +€374 | |
| Total equity and liabilities | 10/49 | €117,624 | €157,095 | +€39,471 | +33.6% |
| Equity | 10/15 | €79,007 | €112,915 | +€33,907 | +42.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €69,007 | €102,915 | +€33,907 | +49.1% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €68,007 | €101,915 | +€33,907 | +49.9% |
| Amounts payable | 17/49 | €38,616 | €44,180 | +€5,564 | +14.4% |
| Amounts payable within one year | 42/48 | €38,616 | €44,180 | +€5,564 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €16,462 | - | -€16,462 | |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €13,927 | €31,690 | +€17,762 | +127.5% |
| Suppliers | 440/4 | €13,927 | €31,690 | +€17,762 | +127.5% |
| Taxes, remuneration and social security | 45 | €583 | €565 | -€18 | -3.0% |
| Taxes | 450/3 | €583 | €565 | -€18 | -3.0% |
| Other amounts payable | 47/48 | €2,644 | €6,925 | +€4,281 | +161.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,824 | €19,549 | +€5,725 | +41.4% |
| Other operating charges | 640/8 | €2,460 | €2,013 | -€447 | -18.2% |
| Gross operating margin | 9900 | €42,896 | €65,258 | +€22,362 | +52.1% |
| Operating profit (loss) | 9901 | €26,613 | €43,696 | +€17,084 | +64.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,196 | €807 | -€389 | -32.5% |
| Recurring financial charges | 65 | €1,196 | €807 | -€389 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €25,417 | €42,889 | +€17,473 | +68.7% |
| Income taxes | 67/77 | €5,001 | €5,482 | +€481 | +9.6% |
| Profit (loss) for the period | 9904 | €20,416 | €37,407 | +€16,991 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,416 | €37,407 | +€16,991 | +83.2% |
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 28 September 2026 via checked.be.