CINDY & SANDY: 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.
CINDY & SANDY
Largest movements
- Cash -€24,508
down €24,508 (-91.0%), from €26,927 to €2,419
mainly Contributions, distributions and other (-€130,000) and Investment in fixed assets (net) (-€41,771)
- Tangible fixed assets +€8,713
up €8,713 (+2.0%), from €446,025 to €454,738
of which Plant, machinery and equipment: +€24,329
- Debts after one year -€22,840
down €22,840 (-7.9%), from €289,283 to €266,443
- Other debts +€17,205
up €17,205 (+18.3%), from €93,916 to €111,121
- Tax, wage and social debts -€12,275
down €12,275 (-26.1%), from €47,001 to €34,726
of which Taxes: -€13,428
- Gross operating margin +€44,867
up €44,867 (+17.8%), from €251,527 to €296,394
- Staff costs +€14,066
up €14,066 (+21.2%), from €66,338 to €80,404
- Depreciation +€8,321
up €8,321 (+32.3%), from €25,738 to €34,058
- Taxes +€5,265
up €5,265 (+16.1%), from €32,662 to €37,927
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 | €485,987 | €469,376 | -€16,610 | -3.4% |
| Fixed assets | 21/28 | €448,214 | €455,927 | +€7,713 | +1.7% |
| Intangible fixed assets | 21 | €2,188 | €1,188 | -€1,000 | -45.7% |
| Tangible fixed assets | 22/27 | €446,025 | €454,738 | +€8,713 | +2.0% |
| Land and buildings | 22 | €392,082 | €382,170 | -€9,912 | -2.5% |
| Plant, machinery and equipment | 23 | €33,243 | €57,572 | +€24,329 | +73.2% |
| Furniture and vehicles | 24 | €20,701 | €14,996 | -€5,704 | -27.6% |
| Current assets | 29/58 | €37,773 | €13,450 | -€24,323 | -64.4% |
| Stocks and contracts in progress | 3 | €7,562 | €6,778 | -€784 | -10.4% |
| Stocks | 30/36 | €7,562 | €6,778 | -€784 | -10.4% |
| Amounts receivable within one year | 40/41 | €294 | €436 | +€142 | +48.5% |
| Trade receivables | 40 | €49 | €220 | +€171 | +352% |
| Other amounts receivable | 41 | €245 | €216 | -€29 | -11.7% |
| Cash at bank and in hand | 54/58 | €26,927 | €2,419 | -€24,508 | -91.0% |
| Deferred charges and accrued income | 490/1 | €2,990 | €3,816 | +€826 | +27.6% |
| Total equity and liabilities | 10/49 | €485,987 | €469,376 | -€16,610 | -3.4% |
| Equity | 10/15 | €29,525 | €29,258 | -€268 | -0.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,104 | €1,104 | = | 0.0% |
| Distributable reserves | 133 | €1,104 | €1,104 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,421 | €8,154 | -€268 | -3.2% |
| Amounts payable | 17/49 | €456,462 | €440,119 | -€16,343 | -3.6% |
| Amounts payable after more than one year | 17 | €289,283 | €266,443 | -€22,840 | -7.9% |
| Financial debts | 170/4 | €289,283 | €266,443 | -€22,840 | -7.9% |
| Amounts payable within one year | 42/48 | €167,178 | €173,676 | +€6,498 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €22,364 | €22,840 | +€476 | +2.1% |
| Trade debts | 44 | €3,898 | €4,988 | +€1,090 | +28.0% |
| Suppliers | 440/4 | €3,898 | €4,988 | +€1,090 | +28.0% |
| Taxes, remuneration and social security | 45 | €47,001 | €34,726 | -€12,275 | -26.1% |
| Taxes | 450/3 | €45,917 | €32,489 | -€13,428 | -29.2% |
| Remuneration and social security | 454/9 | €1,084 | €2,237 | +€1,153 | +106% |
| Other amounts payable | 47/48 | €93,916 | €111,121 | +€17,205 | +18.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €66,338 | €80,404 | +€14,066 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,738 | €34,058 | +€8,321 | +32.3% |
| Other operating charges | 640/8 | €5,187 | €5,328 | +€141 | +2.7% |
| Gross operating margin | 9900 | €251,527 | €296,394 | +€44,867 | +17.8% |
| Operating profit (loss) | 9901 | €154,265 | €176,604 | +€22,339 | +14.5% |
| Financial income | 75/76B | €59 | €0 | -€58 | -99.6% |
| Recurring financial income | 75 | €59 | €0 | -€58 | -99.6% |
| Financial charges | 65/66B | €9,640 | €8,945 | -€695 | -7.2% |
| Recurring financial charges | 65 | €9,640 | €8,945 | -€695 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €144,683 | €167,660 | +€22,976 | +15.9% |
| Income taxes | 67/77 | €32,662 | €37,927 | +€5,265 | +16.1% |
| Profit (loss) for the period | 9904 | €112,021 | €129,732 | +€17,711 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €112,021 | €129,732 | +€17,711 | +15.8% |
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 18 October 2026 via checked.be.