SAVEN: 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.
SAVEN
Largest movements
- Receivables within one year +€75,395
up €75,395 (+91.5%), from €82,383 to €157,778
- Cash +€4,553
up €4,553 (+5.3%), from €85,553 to €90,107
mainly Net result for the year (+€95,809) and Deferred charges and accrued income (+€1,703)
- Tangible fixed assets +€2,648
new in 2025: €2,648
- Profit (loss) carried forward +€95,809
up €95,809 (+79.0%), from €121,318 to €217,127
- Tax, wage and social debts -€15,673
down €15,673 (-31.0%), from €50,633 to €34,960
- Gross operating margin -€43,485
down €43,485 (-26.4%), from €164,473 to €120,988
- Taxes -€9,946
down €9,946 (-25.1%), from €39,623 to €29,678
- Financial income +€3,946
up €3,946 (+124.7%), from €3,164 to €7,110
- Depreciation -€2,325
down €2,325 (-76.9%), from €3,025 to €700
- Staff costs -€2,024
no longer reported in 2025 (was €2,024)
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 | €172,285 | €253,179 | +€80,894 | +47.0% |
| Fixed assets | 21/28 | €1,200 | €3,848 | +€2,648 | +220.7% |
| Tangible fixed assets | 22/27 | - | €2,648 | +€2,648 | |
| Furniture and vehicles | 24 | - | €2,648 | +€2,648 | |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €171,085 | €249,331 | +€78,246 | +45.7% |
| Amounts receivable within one year | 40/41 | €82,383 | €157,778 | +€75,395 | +91.5% |
| Other amounts receivable | 41 | €82,383 | €157,778 | +€75,395 | +91.5% |
| Cash at bank and in hand | 54/58 | €85,553 | €90,107 | +€4,553 | +5.3% |
| Deferred charges and accrued income | 490/1 | €3,149 | €1,446 | -€1,703 | -54.1% |
| Total equity and liabilities | 10/49 | €172,285 | €253,179 | +€80,894 | +47.0% |
| Equity | 10/15 | €121,318 | €217,127 | +€95,809 | +79.0% |
| Profit (loss) carried forward | 14 | €121,318 | €217,127 | +€95,809 | +79.0% |
| Amounts payable | 17/49 | €50,966 | €36,051 | -€14,915 | -29.3% |
| Amounts payable within one year | 42/48 | €50,966 | €36,051 | -€14,915 | -29.3% |
| Trade debts | 44 | €333 | €1,091 | +€758 | +227.8% |
| Suppliers | 440/4 | €333 | €1,091 | +€758 | +227.8% |
| Taxes, remuneration and social security | 45 | €50,633 | €34,960 | -€15,673 | -31.0% |
| Taxes | 450/3 | €50,633 | €34,960 | -€15,673 | -31.0% |
| Remuneration, social security and pensions | 62 | €2,024 | - | -€2,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,025 | €700 | -€2,325 | -76.9% |
| Other operating charges | 640/8 | €1,634 | €1,810 | +€176 | +10.8% |
| Gross operating margin | 9900 | €164,473 | €120,988 | -€43,485 | -26.4% |
| Operating profit (loss) | 9901 | €157,790 | €118,478 | -€39,312 | -24.9% |
| Financial income | 75/76B | €3,164 | €7,110 | +€3,946 | +124.7% |
| Recurring financial income | 75 | €3,164 | €7,110 | +€3,946 | +124.7% |
| Financial charges | 65/66B | €12 | €102 | +€89 | +739.0% |
| Recurring financial charges | 65 | €12 | €102 | +€89 | +739.0% |
| Profit (loss) for the period before taxes | 9903 | €160,942 | €125,486 | -€35,455 | -22.0% |
| Income taxes | 67/77 | €39,623 | €29,678 | -€9,946 | -25.1% |
| Profit (loss) for the period | 9904 | €121,318 | €95,809 | -€25,510 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €121,318 | €95,809 | -€25,510 | -21.0% |
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 8 October 2026 via checked.be.