SAVOS: 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.
What changed
SAVOS
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€53,655
2024 · €79,306-€25,651
Equity
€342,816
2024 · €339,161+€3,655
Cash
€12,355
2024 · €11,077+€1,278
Balance sheet total
€1.4m
2024 · €1.2m+€216,529
Largest movements
Assets
- Stocks and contracts +€160,000
up €160,000 (+128%), from €125,000 to €285,000
- Receivables within one year +€88,358
up €88,358 (+11.5%), from €768,806 to €857,163
of which Other amounts receivable: +€174,199
- Tangible fixed assets -€34,655
down €34,655 (-24.2%), from €142,958 to €108,303
Equity and liabilities
- Trade debts +€335,561
up €335,561 (+57.0%), from €589,204 to €924,765
- Short-term financial debts -€90,000
down €90,000 (-47.4%), from €190,000 to €100,000
Income statement
- Gross operating margin -€39,737
down €39,737 (-13.8%), from €288,758 to €249,022
- Staff costs -€10,750
down €10,750 (-8.7%), from €123,594 to €112,844
- Taxes -€4,606
down €4,606 (-15.0%), from €30,712 to €26,105
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.
Result 2024
€79,306
Gross operating margin
-€39,737
Staff costs
+€10,750
Depreciation
+€2,614
Other operating charges
-€250
Financial income
-€1,606
Financial charges
-€2,029
Taxes
+€4,606
Result 2025
€53,655
raises the resultlowers the result
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.
From operations
+€159,126
Investment
€0
Financing
-€157,848
Cash 2024
€11,077
From operations (derived)
+€159,126
Net result for the year
+€53,655
Depreciation
+€34,655
Receivables after one year
-€1,741
Stocks and contracts
-€160,000
Receivables within one year
-€88,358
Deferred charges and accrued income
+€193
Trade debts
+€335,561
Tax, wage and social debts
-€9,549
Other debts
-€4,048
Accrued charges and deferred income
-€1,243
Financing
-€157,848
Debts after one year
-€6,693
Current portion of long-term debt
-€11,155
Short-term financial debts
-€90,000
Contributions, distributions and other
-€50,000
Cash 2025
€12,355
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,225,289 | €1,441,818 | +€216,529 | +17.7% |
| Fixed assets | 21/28 | €143,813 | €109,158 | -€34,655 | -24.1% |
| Tangible fixed assets | 22/27 | €142,958 | €108,303 | -€34,655 | -24.2% |
| Land and buildings | 22 | €27,255 | €19,546 | -€7,709 | -28.3% |
| Plant, machinery and equipment | 23 | €58,024 | €45,474 | -€12,550 | -21.6% |
| Furniture and vehicles | 24 | €57,679 | €43,283 | -€14,396 | -25.0% |
| Financial fixed assets | 28 | €855 | €855 | = | 0.0% |
| Current assets | 29/58 | €1,081,476 | €1,332,660 | +€251,184 | +23.2% |
| Amounts receivable after more than one year | 29 | €174,063 | €175,804 | +€1,741 | +1.0% |
| Other amounts receivable | 291 | €174,063 | €175,804 | +€1,741 | +1.0% |
| Stocks and contracts in progress | 3 | €125,000 | €285,000 | +€160,000 | +128% |
| Stocks | 30/36 | €125,000 | €285,000 | +€160,000 | +128% |
| Amounts receivable within one year | 40/41 | €768,806 | €857,163 | +€88,358 | +11.5% |
| Trade receivables | 40 | €717,698 | €631,857 | -€85,841 | -12.0% |
| Other amounts receivable | 41 | €51,107 | €225,306 | +€174,199 | +341% |
| Cash at bank and in hand | 54/58 | €11,077 | €12,355 | +€1,278 | +11.5% |
| Deferred charges and accrued income | 490/1 | €2,530 | €2,337 | -€193 | -7.6% |
| Total equity and liabilities | 10/49 | €1,225,289 | €1,441,818 | +€216,529 | +17.7% |
| Equity | 10/15 | €339,161 | €342,816 | +€3,655 | +1.1% |
| Contributions | 10/11 | €24,792 | €24,792 | = | 0.0% |
| Reserves | 13 | €226,920 | €230,575 | +€3,655 | +1.6% |
| Distributable reserves | 133 | €226,920 | €230,575 | +€3,655 | +1.6% |
| Profit (loss) carried forward | 14 | €87,449 | €87,449 | = | 0.0% |
| Amounts payable | 17/49 | €886,128 | €1,099,001 | +€212,873 | +24.0% |
| Amounts payable after more than one year | 17 | €23,916 | €17,223 | -€6,693 | -28.0% |
| Financial debts | 170/4 | €23,916 | €17,223 | -€6,693 | -28.0% |
| Amounts payable within one year | 42/48 | €860,969 | €1,081,779 | +€220,809 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €35,134 | €23,979 | -€11,155 | -31.7% |
| Financial debts | 43 | €190,000 | €100,000 | -€90,000 | -47.4% |
| Credit institutions | 430/8 | €190,000 | €100,000 | -€90,000 | -47.4% |
| Trade debts | 44 | €589,204 | €924,765 | +€335,561 | +57.0% |
| Suppliers | 440/4 | €589,204 | €924,765 | +€335,561 | +57.0% |
| Taxes, remuneration and social security | 45 | €42,584 | €33,034 | -€9,549 | -22.4% |
| Taxes | 450/3 | €42,584 | €33,034 | -€9,549 | -22.4% |
| Other amounts payable | 47/48 | €4,048 | - | -€4,048 | |
| Accrued charges and deferred income | 492/3 | €1,243 | - | -€1,243 | |
| Remuneration, social security and pensions | 62 | €123,594 | €112,844 | -€10,750 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,270 | €34,655 | -€2,614 | -7.0% |
| Other operating charges | 640/8 | €1,167 | €1,417 | +€250 | +21.4% |
| Gross operating margin | 9900 | €288,758 | €249,022 | -€39,737 | -13.8% |
| Operating profit (loss) | 9901 | €126,728 | €100,106 | -€26,622 | -21.0% |
| Financial income | 75/76B | €5,152 | €3,547 | -€1,606 | -31.2% |
| Recurring financial income | 75 | €5,152 | €3,547 | -€1,606 | -31.2% |
| Financial charges | 65/66B | €21,862 | €23,891 | +€2,029 | +9.3% |
| Recurring financial charges | 65 | €21,862 | €23,891 | +€2,029 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €110,018 | €79,761 | -€30,257 | -27.5% |
| Income taxes | 67/77 | €30,712 | €26,105 | -€4,606 | -15.0% |
| Profit (loss) for the period | 9904 | €79,306 | €53,655 | -€25,651 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,306 | €53,655 | -€25,651 | -32.3% |
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 27 October 2026 via checked.be.