Emile SANGLIER: 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.
Emile SANGLIER
Largest movements
- Stocks and contracts +€586,953
up €586,953 (+341%), from €172,299 to €759,251
- Receivables within one year +€400,875
up €400,875 (+19.5%), from €2.1m to €2.5m
of which Other amounts receivable: +€393,020
- Cash -€63,969
down €63,969 (-52.4%), from €121,979 to €58,010
mainly Stocks and contracts (-€586,953) and Receivables within one year (-€400,875)
- Deferred charges and accrued income -€37,559
down €37,559 (-73.7%), from €50,942 to €13,383
- Profit (loss) carried forward +€626,403
up €626,403 (+31.1%), from €2.0m to €2.6m
- Trade debts +€223,542
up €223,542 (+56.7%), from €393,922 to €617,464
- Gross operating margin +€401,722
up €401,722 (+64.0%), from €627,779 to €1.0m
- Other operating charges -€44,753
down €44,753 (-53.2%), from €84,056 to €39,304
- Taxes +€16,812
new in 2025: €16,812
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 | €2,648,783 | €3,512,896 | +€864,113 | +32.6% |
| Fixed assets | 21/28 | €243,112 | €220,926 | -€22,186 | -9.1% |
| Tangible fixed assets | 22/27 | €240,187 | €218,001 | -€22,186 | -9.2% |
| Land and buildings | 22 | €71,753 | €68,807 | -€2,946 | -4.1% |
| Plant, machinery and equipment | 23 | €712 | €39,210 | +€38,497 | +5,404% |
| Furniture and vehicles | 24 | €167,721 | €109,984 | -€57,738 | -34.4% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €2,405,671 | €3,291,970 | +€886,299 | +36.8% |
| Stocks and contracts in progress | 3 | €172,299 | €759,251 | +€586,953 | +341% |
| Stocks | 30/36 | €172,299 | €759,251 | +€586,953 | +341% |
| Amounts receivable within one year | 40/41 | €2,060,451 | €2,461,326 | +€400,875 | +19.5% |
| Trade receivables | 40 | €61,359 | €69,214 | +€7,854 | +12.8% |
| Other amounts receivable | 41 | €1,999,092 | €2,392,112 | +€393,020 | +19.7% |
| Cash at bank and in hand | 54/58 | €121,979 | €58,010 | -€63,969 | -52.4% |
| Deferred charges and accrued income | 490/1 | €50,942 | €13,383 | -€37,559 | -73.7% |
| Total equity and liabilities | 10/49 | €2,648,783 | €3,512,896 | +€864,113 | +32.6% |
| Equity | 10/15 | €2,217,246 | €2,843,649 | +€626,403 | +28.3% |
| Contributions | 10/11 | €174,517 | €174,517 | = | 0.0% |
| Capital | 10 | €174,517 | €174,517 | = | 0.0% |
| Issued capital | 100 | €174,517 | €174,517 | = | 0.0% |
| Reserves | 13 | €27,367 | €27,367 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,452 | €17,452 | = | 0.0% |
| Legal reserve | 130 | €17,452 | €17,452 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,916 | €9,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,015,361 | €2,641,764 | +€626,403 | +31.1% |
| Amounts payable | 17/49 | €431,537 | €669,247 | +€237,710 | +55.1% |
| Amounts payable within one year | 42/48 | €431,537 | €669,247 | +€237,710 | +55.1% |
| Trade debts | 44 | €393,922 | €617,464 | +€223,542 | +56.7% |
| Suppliers | 440/4 | €393,922 | €617,464 | +€223,542 | +56.7% |
| Taxes, remuneration and social security | 45 | €37,615 | €51,783 | +€14,168 | +37.7% |
| Taxes | 450/3 | €8,079 | €17,409 | +€9,330 | +115% |
| Remuneration and social security | 454/9 | €29,536 | €34,374 | +€4,838 | +16.4% |
| Non-recurring operating income | 76A | €20,000 | €567,384 | +€547,384 | +2,737% |
| Remuneration, social security and pensions | 62 | €267,238 | €276,494 | +€9,255 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,198 | €67,768 | +€4,570 | +7.2% |
| Other operating charges | 640/8 | €84,056 | €39,304 | -€44,753 | -53.2% |
| Non-recurring operating charges | 66A | €356,068 | - | -€356,068 | |
| Gross operating margin | 9900 | €627,779 | €1,029,501 | +€401,722 | +64.0% |
| Operating profit (loss) | 9901 | -€142,781 | €645,936 | +€788,717 | |
| Financial income | 75/76B | - | €2,066 | +€2,066 | |
| Recurring financial income | 75 | - | €2,066 | +€2,066 | |
| Financial charges | 65/66B | €5,404 | €4,787 | -€616 | -11.4% |
| Recurring financial charges | 65 | €5,404 | €4,787 | -€616 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€148,185 | €643,215 | +€791,400 | |
| Income taxes | 67/77 | - | €16,812 | +€16,812 | |
| Profit (loss) for the period | 9904 | -€148,185 | €626,403 | +€774,588 | |
| Profit (loss) for the period to be appropriated | 9905 | -€148,185 | €626,403 | +€774,588 |
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 30 October 2026 via checked.be.