SNAPAJO: 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.
SNAPAJO
Largest movements
- Stocks and contracts +€216,376
up €216,376 (+30.7%), from €705,043 to €921,419
- Receivables within one year +€201,382
up €201,382 (+715%), from €28,159 to €229,541
of which Trade receivables: +€167,058
- Cash -€146,917
down €146,917 (-57.6%), from €254,968 to €108,051
mainly Stocks and contracts (-€216,376) and Receivables within one year (-€201,382)
- Tangible fixed assets -€78,898
down €78,898 (-3.7%), from €2.1m to €2.1m
of which Land and buildings: -€64,455
- Current investments -€77,108
down €77,108 (-9.3%), from €828,742 to €751,634
- Trade debts +€197,220
up €197,220 (+399%), from €49,437 to €246,656
- Tax, wage and social debts -€102,234
down €102,234 (-88.8%), from €115,088 to €12,853
of which Taxes: -€102,294
- Reserves +€101,441
up €101,441 (+4.9%), from €2.1m to €2.2m
of which Distributable reserves: +€61,562
- Gross operating margin -€706,953
down €706,953 (-68.6%), from €1.0m to €323,793
- Taxes -€74,536
down €74,536 (-59.9%), from €124,452 to €49,916
- Other operating charges -€43,087
down €43,087 (-59.3%), from €72,709 to €29,623
- Staff costs -€25,218
down €25,218 (-28.3%), from €89,131 to €63,913
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 | €3,978,966 | €4,071,166 | +€92,199 | +2.3% |
| Fixed assets | 21/28 | €2,131,585 | €2,052,686 | -€78,898 | -3.7% |
| Tangible fixed assets | 22/27 | €2,131,185 | €2,052,286 | -€78,898 | -3.7% |
| Land and buildings | 22 | €2,014,390 | €1,949,935 | -€64,455 | -3.2% |
| Plant, machinery and equipment | 23 | €115,558 | €101,998 | -€13,560 | -11.7% |
| Furniture and vehicles | 24 | €1,237 | €353 | -€884 | -71.5% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €1,847,382 | €2,018,479 | +€171,098 | +9.3% |
| Stocks and contracts in progress | 3 | €705,043 | €921,419 | +€216,376 | +30.7% |
| Stocks | 30/36 | €705,043 | €921,419 | +€216,376 | +30.7% |
| Amounts receivable within one year | 40/41 | €28,159 | €229,541 | +€201,382 | +715% |
| Trade receivables | 40 | €28,159 | €195,218 | +€167,058 | +593% |
| Other amounts receivable | 41 | - | €34,323 | +€34,323 | |
| Current investments | 50/53 | €828,742 | €751,634 | -€77,108 | -9.3% |
| Cash at bank and in hand | 54/58 | €254,968 | €108,051 | -€146,917 | -57.6% |
| Deferred charges and accrued income | 490/1 | €30,470 | €7,835 | -€22,635 | -74.3% |
| Total equity and liabilities | 10/49 | €3,978,966 | €4,071,166 | +€92,199 | +2.3% |
| Equity | 10/15 | €3,545,670 | €3,653,350 | +€107,679 | +3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €57,808 | €46,247 | -€11,562 | -20.0% |
| Reserves | 13 | €2,090,680 | €2,192,121 | +€101,441 | +4.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €293,210 | €333,089 | +€39,879 | +13.6% |
| Distributable reserves | 133 | €1,791,270 | €1,852,832 | +€61,562 | +3.4% |
| Profit (loss) carried forward | 14 | €1,335,182 | €1,352,982 | +€17,800 | +1.3% |
| Provisions and deferred taxes | 16 | €85,237 | €77,480 | -€7,757 | -9.1% |
| Deferred taxes | 168 | €85,237 | €77,480 | -€7,757 | -9.1% |
| Amounts payable | 17/49 | €348,059 | €340,337 | -€7,723 | -2.2% |
| Amounts payable after more than one year | 17 | €47,278 | €44,587 | -€2,691 | -5.7% |
| Financial debts | 170/4 | €4,778 | €2,087 | -€2,691 | -56.3% |
| Other amounts payable | 178/9 | €42,500 | €42,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €292,523 | €284,482 | -€8,041 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €43,047 | €2,691 | -€40,356 | -93.7% |
| Trade debts | 44 | €49,437 | €246,656 | +€197,220 | +399% |
| Suppliers | 440/4 | €49,437 | €246,656 | +€197,220 | +399% |
| Advances received on contracts in progress | 46 | €29,485 | - | -€29,485 | |
| Taxes, remuneration and social security | 45 | €115,088 | €12,853 | -€102,234 | -88.8% |
| Taxes | 450/3 | €103,095 | €800 | -€102,294 | -99.2% |
| Remuneration and social security | 454/9 | €11,993 | €12,053 | +€60 | +0.5% |
| Other amounts payable | 47/48 | €55,467 | €22,282 | -€33,185 | -59.8% |
| Accrued charges and deferred income | 492/3 | €8,259 | €11,268 | +€3,009 | +36.4% |
| Non-recurring operating income | 76A | €314,584 | €1,000 | -€313,584 | -99.7% |
| Remuneration, social security and pensions | 62 | €89,131 | €63,913 | -€25,218 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,555 | €96,142 | -€7,412 | -7.2% |
| Other operating charges | 640/8 | €72,709 | €29,623 | -€43,087 | -59.3% |
| Gross operating margin | 9900 | €1,030,746 | €323,793 | -€706,953 | -68.6% |
| Operating profit (loss) | 9901 | €765,351 | €134,115 | -€631,236 | -82.5% |
| Financial income | 75/76B | €26,245 | €24,188 | -€2,057 | -7.8% |
| Recurring financial income | 75 | €26,245 | €24,188 | -€2,057 | -7.8% |
| Financial charges | 65/66B | €9,994 | €8,465 | -€1,529 | -15.3% |
| Recurring financial charges | 65 | €9,994 | €8,465 | -€1,529 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €781,602 | €149,838 | -€631,763 | -80.8% |
| Transfer from deferred taxes | 780 | €7,757 | €7,757 | = | 0.0% |
| Transfer to deferred taxes | 680 | €78,646 | - | -€78,646 | |
| Income taxes | 67/77 | €124,452 | €49,916 | -€74,536 | -59.9% |
| Profit (loss) for the period | 9904 | €586,261 | €107,679 | -€478,582 | -81.6% |
| Transfer from tax-exempt reserves | 789 | €23,271 | €23,271 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €235,938 | €63,150 | -€172,788 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €373,595 | €67,800 | -€305,794 | -81.9% |
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 15 October 2026 via checked.be.