M. SARDAR: 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.
M. SARDAR
Largest movements
- Cash +€16,360
up €16,360 (+121.4%), from €13,475 to €29,835
mainly Stocks and contracts (+€14,522) and Net result for the year (+€8,557)
- Stocks and contracts -€14,522
down €14,522 (-32.4%), from €44,753 to €30,231
- Receivables within one year +€1,009
new in 2025: €1,009
- Profit (loss) carried forward +€8,557
up €8,557 (+51.5%), from €16,617 to €25,173
- Tax, wage and social debts -€3,709
down €3,709 (-49.4%), from €7,513 to €3,803
of which Remuneration and social security: -€3,964
- Short-term financial debts -€1,781
no longer reported in 2025 (was €1,781)
- Turnover +€32,741
up €32,741 (+9.2%), from €356,382 to €389,123
- Purchases and services +€26,135
up €26,135 (+7.5%), from €348,364 to €374,499
- Gross operating margin +€6,039
up €6,039 (+49.9%), from €12,095 to €18,133
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 | €59,043 | €62,202 | +€3,159 | +5.4% |
| Fixed assets | 21/28 | €533 | €1,126 | +€593 | +111.4% |
| Tangible fixed assets | 22/27 | €533 | €1,126 | +€593 | +111.4% |
| Plant, machinery and equipment | 23 | €533 | €1,126 | +€593 | +111.4% |
| Current assets | 29/58 | €58,510 | €61,075 | +€2,565 | +4.4% |
| Stocks and contracts in progress | 3 | €44,753 | €30,231 | -€14,522 | -32.4% |
| Stocks | 30/36 | €44,753 | €30,231 | -€14,522 | -32.4% |
| Amounts receivable within one year | 40/41 | - | €1,009 | +€1,009 | |
| Trade receivables | 40 | - | €1,009 | +€1,009 | |
| Cash at bank and in hand | 54/58 | €13,475 | €29,835 | +€16,360 | +121.4% |
| Deferred charges and accrued income | 490/1 | €282 | - | -€282 | |
| Total equity and liabilities | 10/49 | €59,043 | €62,202 | +€3,159 | +5.4% |
| Equity | 10/15 | €38,917 | €47,473 | +€8,557 | +22.0% |
| Contributions | 10/11 | €9,585 | €9,585 | = | 0.0% |
| Reserves | 13 | €12,715 | €12,715 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €10,715 | €10,715 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,617 | €25,173 | +€8,557 | +51.5% |
| Amounts payable | 17/49 | €20,126 | €14,728 | -€5,398 | -26.8% |
| Amounts payable within one year | 42/48 | €20,126 | €14,728 | -€5,398 | -26.8% |
| Financial debts | 43 | €1,781 | - | -€1,781 | |
| Credit institutions | 430/8 | €1,781 | - | -€1,781 | |
| Trade debts | 44 | €10,772 | €10,925 | +€153 | +1.4% |
| Suppliers | 440/4 | €10,772 | €10,925 | +€153 | +1.4% |
| Taxes, remuneration and social security | 45 | €7,513 | €3,803 | -€3,709 | -49.4% |
| Taxes | 450/3 | €3,408 | €3,663 | +€255 | +7.5% |
| Remuneration and social security | 454/9 | €4,104 | €140 | -€3,964 | -96.6% |
| Other amounts payable | 47/48 | €60 | - | -€60 | |
| Turnover | 70 | €356,382 | €389,123 | +€32,741 | +9.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €348,364 | €374,499 | +€26,135 | +7.5% |
| Remuneration, social security and pensions | 62 | - | €3,014 | +€3,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €49 | +€49 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,100 | +€2,100 | |
| Other operating charges | 640/8 | €3,035 | €3,134 | +€100 | +3.3% |
| Gross operating margin | 9900 | €12,095 | €18,133 | +€6,039 | +49.9% |
| Operating profit (loss) | 9901 | €9,060 | €9,837 | +€777 | +8.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €590 | €605 | +€16 | +2.6% |
| Recurring financial charges | 65 | €590 | €605 | +€16 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €8,471 | €9,231 | +€761 | +9.0% |
| Income taxes | 67/77 | €2,397 | €675 | -€1,722 | -71.9% |
| Profit (loss) for the period | 9904 | €6,074 | €8,557 | +€2,482 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,074 | €8,557 | +€2,482 | +40.9% |
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 12 October 2026 via checked.be.