Den Sack: 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.
Den Sack
Largest movements
- Tangible fixed assets -€46,206
down €46,206 (-6.2%), from €742,167 to €695,961
of which Land and buildings: -€44,141
- Receivables within one year +€32,018
up €32,018 (+71.0%), from €45,082 to €77,100
of which Trade receivables: +€20,000
- Debts after one year -€55,476
down €55,476 (-25.9%), from €214,093 to €158,618
- Other debts +€32,823
up €32,823 (+13.1%), from €249,745 to €282,568
- Profit (loss) carried forward +€23,850
up €23,850 (+122.6%), from €19,459 to €43,310
- Trade debts -€9,803
down €9,803 (-87.0%), from €11,270 to €1,467
- Gross operating margin +€3,058
up €3,058 (+3.3%), from €92,643 to €95,701
- Financial charges -€2,968
down €2,968 (-16.7%), from €17,764 to €14,796
- Taxes +€1,587
up €1,587 (+22.4%), from €7,096 to €8,682
- Depreciation -€1,024
down €1,024 (-2.2%), from €47,230 to €46,206
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 | €788,353 | €773,128 | -€15,225 | -1.9% |
| Fixed assets | 21/28 | €742,167 | €695,961 | -€46,206 | -6.2% |
| Tangible fixed assets | 22/27 | €742,167 | €695,961 | -€46,206 | -6.2% |
| Land and buildings | 22 | €728,552 | €684,411 | -€44,141 | -6.1% |
| Plant, machinery and equipment | 23 | €13,615 | €11,550 | -€2,065 | -15.2% |
| Current assets | 29/58 | €46,186 | €77,167 | +€30,981 | +67.1% |
| Amounts receivable within one year | 40/41 | €45,082 | €77,100 | +€32,018 | +71.0% |
| Trade receivables | 40 | €2,600 | €22,600 | +€20,000 | +769.2% |
| Other amounts receivable | 41 | €42,482 | €54,500 | +€12,018 | +28.3% |
| Cash at bank and in hand | 54/58 | €1,104 | €67 | -€1,037 | -93.9% |
| Total equity and liabilities | 10/49 | €788,353 | €773,128 | -€15,225 | -1.9% |
| Equity | 10/15 | €230,919 | €254,770 | +€23,850 | +10.3% |
| Contributions | 10/11 | €158,600 | €158,600 | = | 0.0% |
| Reserves | 13 | €52,860 | €52,860 | = | 0.0% |
| Distributable reserves | 133 | €52,860 | €52,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,459 | €43,310 | +€23,850 | +122.6% |
| Amounts payable | 17/49 | €557,434 | €518,359 | -€39,075 | -7.0% |
| Amounts payable after more than one year | 17 | €214,093 | €158,618 | -€55,476 | -25.9% |
| Financial debts | 170/4 | €214,093 | €158,618 | -€55,476 | -25.9% |
| Amounts payable within one year | 42/48 | €343,340 | €359,741 | +€16,400 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €52,211 | €55,476 | +€3,264 | +6.3% |
| Trade debts | 44 | €11,270 | €1,467 | -€9,803 | -87.0% |
| Suppliers | 440/4 | €11,270 | €1,467 | -€9,803 | -87.0% |
| Advances received on contracts in progress | 46 | €4,840 | - | -€4,840 | |
| Taxes, remuneration and social security | 45 | €25,273 | €20,230 | -€5,043 | -20.0% |
| Taxes | 450/3 | €25,273 | €20,230 | -€5,043 | -20.0% |
| Other amounts payable | 47/48 | €249,745 | €282,568 | +€32,823 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,230 | €46,206 | -€1,024 | -2.2% |
| Other operating charges | 640/8 | €2,069 | €2,168 | +€98 | +4.8% |
| Gross operating margin | 9900 | €92,643 | €95,701 | +€3,058 | +3.3% |
| Operating profit (loss) | 9901 | €43,344 | €47,327 | +€3,983 | +9.2% |
| Financial income | 75/76B | €458 | €1 | -€458 | -99.9% |
| Recurring financial income | 75 | €458 | €1 | -€458 | -99.9% |
| Financial charges | 65/66B | €17,764 | €14,796 | -€2,968 | -16.7% |
| Recurring financial charges | 65 | €17,764 | €14,796 | -€2,968 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €26,039 | €32,532 | +€6,494 | +24.9% |
| Income taxes | 67/77 | €7,096 | €8,682 | +€1,587 | +22.4% |
| Profit (loss) for the period | 9904 | €18,943 | €23,850 | +€4,907 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,943 | €23,850 | +€4,907 | +25.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.