Sawhorse: what changed
Sawhorse
Largest movements
- Current investments -€80,000
no longer reported in 2025 (was €80,000)
- Cash +€45,281
up €45,281 (+55.7%), from €81,367 to €126,648
mainly Current investments (+€80,000) and Net result for the year (+€73,788)
- Tangible fixed assets +€21,763
up €21,763 (+6,454%), from €337 to €22,100
of which Furniture and vehicles: +€19,750
- Profit (loss) carried forward -€76,212
down €76,212 (-45.0%), from €169,275 to €93,063
- Other debts +€61,453
new in 2025: €61,453
- Gross operating margin +€19,497
up €19,497 (+24.0%), from €81,210 to €100,707
- Depreciation +€8,828
up €8,828 (+2,707%), from €326 to €9,154
- Taxes +€2,798
up €2,798 (+16.5%), from €16,961 to €19,759
- Financial income +€2,480
up €2,480 (+24,799,900%), from €0 to €2,480
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,092 | €168,736 | -€14,356 | -7.8% |
| Fixed assets | 21/28 | €337 | €22,100 | +€21,763 | +6,454% |
| Tangible fixed assets | 22/27 | €337 | €22,100 | +€21,763 | +6,454% |
| Land and buildings | 22 | - | €2,085 | +€2,085 | |
| Plant, machinery and equipment | 23 | €153 | €81 | -€73 | -47.4% |
| Furniture and vehicles | 24 | €184 | €19,934 | +€19,750 | +10,735% |
| Current assets | 29/58 | €182,755 | €146,636 | -€36,119 | -19.8% |
| Amounts receivable within one year | 40/41 | €21,388 | €19,988 | -€1,400 | -6.5% |
| Trade receivables | 40 | €17,090 | €17,004 | -€86 | -0.5% |
| Other amounts receivable | 41 | €4,298 | €2,985 | -€1,313 | -30.6% |
| Current investments | 50/53 | €80,000 | - | -€80,000 | |
| Cash at bank and in hand | 54/58 | €81,367 | €126,648 | +€45,281 | +55.7% |
| Total equity and liabilities | 10/49 | €183,092 | €168,736 | -€14,356 | -7.8% |
| Equity | 10/15 | €171,275 | €95,063 | -€76,212 | -44.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,275 | €93,063 | -€76,212 | -45.0% |
| Amounts payable | 17/49 | €11,817 | €73,673 | +€61,856 | +523% |
| Amounts payable within one year | 42/48 | €11,817 | €73,673 | +€61,856 | +523% |
| Trade debts | 44 | €18 | €830 | +€813 | +4,587% |
| Suppliers | 440/4 | €18 | €830 | +€813 | +4,587% |
| Taxes, remuneration and social security | 45 | €11,799 | €11,389 | -€411 | -3.5% |
| Taxes | 450/3 | €11,799 | €11,389 | -€411 | -3.5% |
| Other amounts payable | 47/48 | - | €61,453 | +€61,453 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326 | €9,154 | +€8,828 | +2,707% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €81,210 | €100,707 | +€19,497 | +24.0% |
| Operating profit (loss) | 9901 | €80,497 | €91,153 | +€10,656 | +13.2% |
| Financial income | 75/76B | €0 | €2,480 | +€2,480 | +24,799,900% |
| Recurring financial income | 75 | €0 | €2,480 | +€2,480 | +24,799,900% |
| Financial charges | 65/66B | €137 | €86 | -€51 | -37.4% |
| Recurring financial charges | 65 | €137 | €86 | -€51 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €80,360 | €93,548 | +€13,188 | +16.4% |
| Income taxes | 67/77 | €16,961 | €19,759 | +€2,798 | +16.5% |
| Profit (loss) for the period | 9904 | €63,399 | €73,788 | +€10,389 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,399 | €73,788 | +€10,389 | +16.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.