Bernard Sacré: what changed
Two fiscal 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.
Bernard Sacré
Largest movements
- Cash -€321,374
down €321,374 (-57.5%), from €558,621 to €237,247
mainly Investment in fixed assets (net) (-€367,150) and Receivables within one year (-€112,729)
- Tangible fixed assets +€318,101
up €318,101 (+34.3%), from €927,026 to €1.2m
of which Plant, machinery and equipment: +€339,863
- Receivables within one year +€112,729
up €112,729 (+98.8%), from €114,142 to €226,871
of which Trade receivables: +€113,757
- Reserves +€154,280
up €154,280 (+11.7%), from €1.3m to €1.5m
- Debts after one year -€32,267
down €32,267 (-10.3%), from €313,657 to €281,390
- Gross operating margin -€419,219
down €419,219 (-53.7%), from €780,820 to €361,600
- Taxes -€137,440
down €137,440 (-58.3%), from €235,759 to €98,320
- Depreciation +€21,668
up €21,668 (+79.1%), from €27,382 to €49,050
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.
Cash bridge derived
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 | €1,687,668 | €1,794,070 | +€106,402 | +6.3% |
| Fixed assets | 21/28 | €927,026 | €1,245,126 | +€318,101 | +34.3% |
| Tangible fixed assets | 22/27 | €927,026 | €1,245,126 | +€318,101 | +34.3% |
| Land and buildings | 22 | €204,836 | €200,122 | -€4,715 | -2.3% |
| Plant, machinery and equipment | 23 | €682,365 | €1,022,228 | +€339,863 | +49.8% |
| Furniture and vehicles | 24 | €39,824 | €22,777 | -€17,048 | -42.8% |
| Current assets | 29/58 | €760,642 | €548,944 | -€211,699 | -27.8% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €114,142 | €226,871 | +€112,729 | +98.8% |
| Trade receivables | 40 | €109,185 | €222,941 | +€113,757 | +104.2% |
| Other amounts receivable | 41 | €4,957 | €3,930 | -€1,027 | -20.7% |
| Cash at bank and in hand | 54/58 | €558,621 | €237,247 | -€321,374 | -57.5% |
| Deferred charges and accrued income | 490/1 | €12,880 | €9,826 | -€3,054 | -23.7% |
| Total equity and liabilities | 10/49 | €1,687,668 | €1,794,070 | +€106,402 | +6.3% |
| Equity | 10/15 | €1,318,482 | €1,472,762 | +€154,280 | +11.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,317,482 | €1,471,762 | +€154,280 | +11.7% |
| Distributable reserves | 133 | €1,317,482 | €1,471,762 | +€154,280 | +11.7% |
| Amounts payable | 17/49 | €369,186 | €321,308 | -€47,878 | -13.0% |
| Amounts payable after more than one year | 17 | €313,657 | €281,390 | -€32,267 | -10.3% |
| Financial debts | 170/4 | €313,657 | €281,390 | -€32,267 | -10.3% |
| Amounts payable within one year | 42/48 | €55,529 | €39,918 | -€15,611 | -28.1% |
| Current portion of amounts payable after more than one year | 42 | €31,163 | €32,267 | +€1,104 | +3.5% |
| Trade debts | 44 | €13,068 | €1,941 | -€11,127 | -85.1% |
| Suppliers | 440/4 | €13,068 | €1,941 | -€11,127 | -85.1% |
| Taxes, remuneration and social security | 45 | €11,297 | €5,710 | -€5,588 | -49.5% |
| Taxes | 450/3 | €11,297 | €5,710 | -€5,588 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,382 | €49,050 | +€21,668 | +79.1% |
| Non-recurring operating charges | 66A | €7,647 | - | -€7,647 | |
| Gross operating margin | 9900 | €780,820 | €361,600 | -€419,219 | -53.7% |
| Operating profit (loss) | 9901 | €745,791 | €312,551 | -€433,241 | -58.1% |
| Financial income | 75/76B | €2,101 | €2,100 | -€1 | 0.0% |
| Recurring financial income | 75 | €2,101 | €2,100 | -€1 | 0.0% |
| Financial charges | 65/66B | €12,223 | €12,126 | -€96 | -0.8% |
| Recurring financial charges | 65 | €12,223 | €12,126 | -€96 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €735,669 | €302,524 | -€433,145 | -58.9% |
| Income taxes | 67/77 | €235,759 | €98,320 | -€137,440 | -58.3% |
| Profit (loss) for the period | 9904 | €499,910 | €204,204 | -€295,706 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €499,910 | €204,204 | -€295,706 | -59.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.