SAXE & CO: 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.
SAXE & CO
Largest movements
- Cash +€227,861
up €227,861 (+652%), from €34,927 to €262,788
mainly Depreciation (+€85,163) and Net result for the year (+€79,557)
- Receivables within one year -€70,688
down €70,688 (-16.5%), from €429,694 to €359,005
of which Trade receivables: -€39,054
- Tangible fixed assets -€47,182
down €47,182 (-20.4%), from €231,580 to €184,398
- Reserves +€79,557
up €79,557 (+118%), from €67,437 to €146,994
of which Distributable reserves: +€79,557
- Debts after one year -€49,041
down €49,041 (-48.9%), from €100,249 to €51,208
- Accrued charges and deferred income +€47,426
up €47,426 (+143%), from €33,264 to €80,690
- Trade debts +€35,948
up €35,948 (+9.8%), from €365,459 to €401,407
- Gross operating margin +€39,233
up €39,233 (+23.9%), from €163,865 to €203,098
- Taxes +€23,904
up €23,904 (+1,477%), from €1,619 to €25,523
- Depreciation +€2,355
up €2,355 (+2.8%), from €82,808 to €85,163
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 | €705,965 | €818,582 | +€112,617 | +16.0% |
| Fixed assets | 21/28 | €231,580 | €184,398 | -€47,182 | -20.4% |
| Tangible fixed assets | 22/27 | €231,580 | €184,398 | -€47,182 | -20.4% |
| Plant, machinery and equipment | 23 | €119,942 | €99,344 | -€20,598 | -17.2% |
| Furniture and vehicles | 24 | €84,771 | €63,553 | -€21,218 | -25.0% |
| Other tangible fixed assets | 26 | €26,867 | €21,501 | -€5,366 | -20.0% |
| Current assets | 29/58 | €474,385 | €634,184 | +€159,799 | +33.7% |
| Amounts receivable within one year | 40/41 | €429,694 | €359,005 | -€70,688 | -16.5% |
| Trade receivables | 40 | €344,130 | €305,077 | -€39,054 | -11.3% |
| Other amounts receivable | 41 | €85,563 | €53,929 | -€31,635 | -37.0% |
| Cash at bank and in hand | 54/58 | €34,927 | €262,788 | +€227,861 | +652% |
| Deferred charges and accrued income | 490/1 | €9,765 | €12,391 | +€2,626 | +26.9% |
| Total equity and liabilities | 10/49 | €705,965 | €818,582 | +€112,617 | +16.0% |
| Equity | 10/15 | €142,169 | €221,726 | +€79,557 | +56.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €67,437 | €146,994 | +€79,557 | +118% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €139,557 | +€79,557 | +133% |
| Profit (loss) carried forward | 14 | €364 | €364 | = | 0.0% |
| Amounts payable | 17/49 | €563,797 | €596,857 | +€33,060 | +5.9% |
| Amounts payable after more than one year | 17 | €100,249 | €51,208 | -€49,041 | -48.9% |
| Financial debts | 170/4 | €100,249 | €51,208 | -€49,041 | -48.9% |
| Amounts payable within one year | 42/48 | €430,283 | €464,959 | +€34,675 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €57,330 | €50,911 | -€6,419 | -11.2% |
| Financial debts | 43 | €3,255 | €6,611 | +€3,356 | +103% |
| Credit institutions | 430/8 | €3,255 | €6,611 | +€3,356 | +103% |
| Trade debts | 44 | €365,459 | €401,407 | +€35,948 | +9.8% |
| Suppliers | 440/4 | €365,459 | €401,407 | +€35,948 | +9.8% |
| Taxes, remuneration and social security | 45 | €4,200 | €5,100 | +€900 | +21.4% |
| Taxes | 450/3 | €4,200 | €5,100 | +€900 | +21.4% |
| Other amounts payable | 47/48 | €39 | €930 | +€891 | +2,290% |
| Accrued charges and deferred income | 492/3 | €33,264 | €80,690 | +€47,426 | +143% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,808 | €85,163 | +€2,355 | +2.8% |
| Other operating charges | 640/8 | €1,900 | €3,663 | +€1,763 | +92.8% |
| Non-recurring operating charges | 66A | €2,817 | - | -€2,817 | |
| Gross operating margin | 9900 | €163,865 | €203,098 | +€39,233 | +23.9% |
| Operating profit (loss) | 9901 | €76,340 | €114,272 | +€37,932 | +49.7% |
| Financial income | 75/76B | €735 | €5 | -€731 | -99.4% |
| Recurring financial income | 75 | €735 | €5 | -€731 | -99.4% |
| Financial charges | 65/66B | €10,933 | €9,197 | -€1,736 | -15.9% |
| Recurring financial charges | 65 | €10,933 | €9,197 | -€1,736 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €66,143 | €105,080 | +€38,937 | +58.9% |
| Income taxes | 67/77 | €1,619 | €25,523 | +€23,904 | +1,477% |
| Profit (loss) for the period | 9904 | €64,524 | €79,557 | +€15,033 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,524 | €79,557 | +€15,033 | +23.3% |
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 14 October 2026 via checked.be.