Savels-VDB: what changed
Two financial 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.
Savels-VDB
Largest movements
- Tangible fixed assets +€569,055
up €569,055 (+1,102%), from €51,637 to €620,692
of which Land and buildings: +€526,803
- Stocks and contracts +€322,755
up €322,755 (+51.0%), from €632,712 to €955,467
- Receivables within one year -€126,756
down €126,756 (-18.0%), from €703,540 to €576,784
of which Trade receivables: -€195,958
- Cash +€63,314
up €63,314 (+288%), from €21,966 to €85,280
mainly Debts after one year (+€577,453) and Current portion of long-term debt (+€232,274)
- Debts after one year +€577,453
up €577,453 (+78.0%), from €740,000 to €1.3m
- Current portion of long-term debt +€232,274
up €232,274 (+664%), from €35,000 to €267,274
- Profit (loss) carried forward +€118,042
up €118,042 (+56.7%), from €208,304 to €326,346
- Other debts -€63,513
down €63,513 (-23.2%), from €273,659 to €210,147
- Tax, wage and social debts -€40,756
down €40,756 (-35.7%), from €114,107 to €73,351
of which Taxes: -€40,220
- Staff costs +€108,801
up €108,801 (+86.5%), from €125,725 to €234,527
- Gross operating margin +€35,076
up €35,076 (+7.7%), from €452,723 to €487,799
- Taxes -€28,267
down €28,267 (-46.1%), from €61,311 to €33,044
- Depreciation +€17,535
up €17,535 (+210%), from €8,353 to €25,887
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.
Derived cash bridge
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 | €1,435,289 | €2,269,671 | +€834,382 | +58.1% |
| Fixed assets | 21/28 | €63,437 | €636,917 | +€573,480 | +904% |
| Tangible fixed assets | 22/27 | €51,637 | €620,692 | +€569,055 | +1,102% |
| Land and buildings | 22 | - | €526,803 | +€526,803 | |
| Plant, machinery and equipment | 23 | €4,564 | €31,465 | +€26,901 | +589% |
| Furniture and vehicles | 24 | €47,072 | €62,424 | +€15,351 | +32.6% |
| Financial fixed assets | 28 | €11,800 | €16,225 | +€4,425 | +37.5% |
| Current assets | 29/58 | €1,371,852 | €1,632,754 | +€260,902 | +19.0% |
| Stocks and contracts in progress | 3 | €632,712 | €955,467 | +€322,755 | +51.0% |
| Stocks | 30/36 | €632,712 | €955,467 | +€322,755 | +51.0% |
| Amounts receivable within one year | 40/41 | €703,540 | €576,784 | -€126,756 | -18.0% |
| Trade receivables | 40 | €210,520 | €14,562 | -€195,958 | -93.1% |
| Other amounts receivable | 41 | €493,020 | €562,222 | +€69,202 | +14.0% |
| Cash at bank and in hand | 54/58 | €21,966 | €85,280 | +€63,314 | +288% |
| Deferred charges and accrued income | 490/1 | €13,634 | €15,222 | +€1,588 | +11.7% |
| Total equity and liabilities | 10/49 | €1,435,289 | €2,269,671 | +€834,382 | +58.1% |
| Equity | 10/15 | €212,304 | €330,346 | +€118,042 | +55.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,304 | €326,346 | +€118,042 | +56.7% |
| Amounts payable | 17/49 | €1,222,985 | €1,939,325 | +€716,340 | +58.6% |
| Amounts payable after more than one year | 17 | €740,000 | €1,317,453 | +€577,453 | +78.0% |
| Financial debts | 170/4 | €740,000 | €1,317,453 | +€577,453 | +78.0% |
| Amounts payable within one year | 42/48 | €482,985 | €621,872 | +€138,887 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | €267,274 | +€232,274 | +664% |
| Financial debts | 43 | - | €9,091 | +€9,091 | |
| Credit institutions | 430/8 | - | €9,091 | +€9,091 | |
| Trade debts | 44 | €60,219 | €62,009 | +€1,790 | +3.0% |
| Suppliers | 440/4 | €60,219 | €62,009 | +€1,790 | +3.0% |
| Taxes, remuneration and social security | 45 | €114,107 | €73,351 | -€40,756 | -35.7% |
| Taxes | 450/3 | €105,902 | €65,682 | -€40,220 | -38.0% |
| Remuneration and social security | 454/9 | €8,205 | €7,669 | -€536 | -6.5% |
| Other amounts payable | 47/48 | €273,659 | €210,147 | -€63,513 | -23.2% |
| Remuneration, social security and pensions | 62 | €125,725 | €234,527 | +€108,801 | +86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,353 | €25,887 | +€17,535 | +210% |
| Other operating charges | 640/8 | €1,125 | €2,892 | +€1,767 | +157% |
| Non-recurring operating charges | 66A | - | €20,817 | +€20,817 | |
| Gross operating margin | 9900 | €452,723 | €487,799 | +€35,076 | +7.7% |
| Operating profit (loss) | 9901 | €317,520 | €203,677 | -€113,843 | -35.9% |
| Financial income | 75/76B | €7,505 | €12,382 | +€4,877 | +65.0% |
| Recurring financial income | 75 | €7,505 | €12,382 | +€4,877 | +65.0% |
| Financial charges | 65/66B | €66,091 | €64,973 | -€1,118 | -1.7% |
| Recurring financial charges | 65 | €66,091 | €64,973 | -€1,118 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €258,934 | €151,086 | -€107,848 | -41.7% |
| Income taxes | 67/77 | €61,311 | €33,044 | -€28,267 | -46.1% |
| Profit (loss) for the period | 9904 | €197,623 | €118,042 | -€79,581 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €197,623 | €118,042 | -€79,581 | -40.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.