SAVOY GERALD: 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.
SAVOY GERALD
Largest movements
- Deferred charges and accrued income +€17,696
up €17,696 (+62.1%), from €28,504 to €46,201
- Receivables within one year +€3,917
up €3,917 (+98.5%), from €3,976 to €7,893
- Stocks and contracts -€3,247
down €3,247 (-27.5%), from €11,789 to €8,541
- Cash -€1,375
down €1,375 (-42.4%), from €3,241 to €1,867
mainly Deferred charges and accrued income (-€17,696) and Trade debts (-€9,061)
- Advances received +€28,500
up €28,500 (+112%), from €25,500 to €54,000
- Trade debts -€9,061
down €9,061 (-44.5%), from €20,342 to €11,281
- Profit (loss) carried forward -€2,223
down €2,223 (-8.3%), from -€26,679 to -€28,903
- Accrued charges and deferred income -€2,000
no longer reported in 2025 (was €2,000)
- Other debts +€902
up €902 (+5.2%), from €17,505 to €18,406
- Gross operating margin +€3,147
up €3,147, from -€973 to €2,173
- Other operating charges -€472
down €472 (-61.2%), from €771 to €300
- Financial charges -€312
down €312 (-58.9%), from €529 to €217
- Depreciation -€218
no longer reported in 2025 (was €218)
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 | €47,510 | €64,501 | +€16,992 | +35.8% |
| Current assets | 29/58 | €47,510 | €64,501 | +€16,992 | +35.8% |
| Stocks and contracts in progress | 3 | €11,789 | €8,541 | -€3,247 | -27.5% |
| Stocks | 30/36 | €11,789 | €8,541 | -€3,247 | -27.5% |
| Amounts receivable within one year | 40/41 | €3,976 | €7,893 | +€3,917 | +98.5% |
| Trade receivables | 40 | €3,976 | €7,893 | +€3,917 | +98.5% |
| Cash at bank and in hand | 54/58 | €3,241 | €1,867 | -€1,375 | -42.4% |
| Deferred charges and accrued income | 490/1 | €28,504 | €46,201 | +€17,696 | +62.1% |
| Total equity and liabilities | 10/49 | €47,510 | €64,501 | +€16,992 | +35.8% |
| Equity | 10/15 | -€20,459 | -€22,683 | -€2,223 | -10.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20 | €20 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20 | €20 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20 | €20 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,679 | -€28,903 | -€2,223 | -8.3% |
| Amounts payable | 17/49 | €67,969 | €87,184 | +€19,215 | +28.3% |
| Amounts payable within one year | 42/48 | €65,969 | €87,184 | +€21,215 | +32.2% |
| Trade debts | 44 | €20,342 | €11,281 | -€9,061 | -44.5% |
| Suppliers | 440/4 | €20,342 | €11,281 | -€9,061 | -44.5% |
| Advances received on contracts in progress | 46 | €25,500 | €54,000 | +€28,500 | +112% |
| Taxes, remuneration and social security | 45 | €2,622 | €3,497 | +€874 | +33.3% |
| Taxes | 450/3 | €2,622 | €3,497 | +€874 | +33.3% |
| Other amounts payable | 47/48 | €17,505 | €18,406 | +€902 | +5.2% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218 | - | -€218 | |
| Other operating charges | 640/8 | €771 | €300 | -€472 | -61.2% |
| Non-recurring operating charges | 66A | - | €3,883 | +€3,883 | |
| Gross operating margin | 9900 | -€973 | €2,173 | +€3,147 | |
| Operating profit (loss) | 9901 | -€1,963 | -€2,010 | -€47 | -2.4% |
| Financial income | 75/76B | €1 | €4 | +€3 | +511% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +511% |
| Financial charges | 65/66B | €529 | €217 | -€312 | -58.9% |
| Recurring financial charges | 65 | €529 | €217 | -€312 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,491 | -€2,223 | +€268 | +10.8% |
| Profit (loss) for the period | 9904 | -€2,491 | -€2,223 | +€268 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,491 | -€2,223 | +€268 | +10.8% |
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 17 October 2026 via checked.be.