MD SABLAGE: 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.
MD SABLAGE
Largest movements
- Stocks and contracts +€16,800
up €16,800 (+102%), from €16,502 to €33,302
- Tangible fixed assets -€16,526
down €16,526 (-27.8%), from €59,477 to €42,951
of which Furniture and vehicles: -€16,147
- Receivables within one year -€11,136
down €11,136 (-22.6%), from €49,235 to €38,099
of which Trade receivables: -€10,376
- Cash -€2,783
down €2,783 (-60.2%), from €4,622 to €1,840
mainly Investment in fixed assets (net) (-€18,366) and Stocks and contracts (-€16,800)
- Deferred charges and accrued income -€2,778
down €2,778 (-25.0%), from €11,111 to €8,333
- Advances received +€10,083
new in 2025: €10,083
- Current portion of long-term debt -€8,967
down €8,967 (-46.1%), from €19,472 to €10,505
- Other debts -€8,500
no longer reported in 2025 (was €8,500)
- Debts after one year -€8,496
no longer reported in 2025 (was €8,496)
- Trade debts -€5,024
down €5,024 (-19.3%), from €25,984 to €20,960
- Gross operating margin +€11,673
up €11,673 (+23.5%), from €49,734 to €61,407
- Other operating charges +€7,336
up €7,336 (+449%), from €1,635 to €8,971
- Staff costs +€4,570
up €4,570 (+54.7%), from €8,357 to €12,927
- Depreciation +€922
up €922 (+2.7%), from €33,970 to €34,892
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 | €140,947 | €124,525 | -€16,422 | -11.7% |
| Fixed assets | 21/28 | €59,477 | €42,951 | -€16,526 | -27.8% |
| Tangible fixed assets | 22/27 | €59,477 | €42,951 | -€16,526 | -27.8% |
| Plant, machinery and equipment | 23 | €5,835 | €5,456 | -€379 | -6.5% |
| Furniture and vehicles | 24 | €53,642 | €37,495 | -€16,147 | -30.1% |
| Current assets | 29/58 | €81,470 | €81,574 | +€104 | +0.1% |
| Stocks and contracts in progress | 3 | €16,502 | €33,302 | +€16,800 | +102% |
| Stocks | 30/36 | €16,502 | €33,302 | +€16,800 | +102% |
| Amounts receivable within one year | 40/41 | €49,235 | €38,099 | -€11,136 | -22.6% |
| Trade receivables | 40 | €27,082 | €16,707 | -€10,376 | -38.3% |
| Other amounts receivable | 41 | €22,153 | €21,393 | -€760 | -3.4% |
| Cash at bank and in hand | 54/58 | €4,622 | €1,840 | -€2,783 | -60.2% |
| Deferred charges and accrued income | 490/1 | €11,111 | €8,333 | -€2,778 | -25.0% |
| Total equity and liabilities | 10/49 | €140,947 | €124,525 | -€16,422 | -11.7% |
| Equity | 10/15 | €77,838 | €79,342 | +€1,504 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,360 | €4,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,278 | €68,782 | +€1,504 | +2.2% |
| Amounts payable | 17/49 | €63,110 | €45,184 | -€17,926 | -28.4% |
| Amounts payable after more than one year | 17 | €8,496 | - | -€8,496 | |
| Financial debts | 170/4 | €8,496 | - | -€8,496 | |
| Amounts payable within one year | 42/48 | €54,614 | €45,184 | -€9,430 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €19,472 | €10,505 | -€8,967 | -46.1% |
| Trade debts | 44 | €25,984 | €20,960 | -€5,024 | -19.3% |
| Suppliers | 440/4 | €25,984 | €20,960 | -€5,024 | -19.3% |
| Advances received on contracts in progress | 46 | - | €10,083 | +€10,083 | |
| Taxes, remuneration and social security | 45 | €658 | €3,636 | +€2,978 | +452% |
| Taxes | 450/3 | - | €2,477 | +€2,477 | |
| Remuneration and social security | 454/9 | €658 | €1,159 | +€501 | +76.1% |
| Other amounts payable | 47/48 | €8,500 | - | -€8,500 | |
| Non-recurring operating income | 76A | €2,479 | - | -€2,479 | |
| Remuneration, social security and pensions | 62 | €8,357 | €12,927 | +€4,570 | +54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,970 | €34,892 | +€922 | +2.7% |
| Other operating charges | 640/8 | €1,635 | €8,971 | +€7,336 | +449% |
| Gross operating margin | 9900 | €49,734 | €61,407 | +€11,673 | +23.5% |
| Operating profit (loss) | 9901 | €5,771 | €4,617 | -€1,155 | -20.0% |
| Financial income | 75/76B | - | €80 | +€80 | |
| Recurring financial income | 75 | - | €80 | +€80 | |
| Financial charges | 65/66B | €997 | €715 | -€282 | -28.3% |
| Recurring financial charges | 65 | €997 | €715 | -€282 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €4,775 | €3,981 | -€793 | -16.6% |
| Income taxes | 67/77 | €2,178 | €2,477 | +€299 | +13.7% |
| Profit (loss) for the period | 9904 | €2,596 | €1,504 | -€1,092 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,596 | €1,504 | -€1,092 | -42.1% |
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 25 October 2026 via checked.be.