S.A.N: 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.
S.A.N
Largest movements
- Financial fixed assets -€40,000
down €40,000 (-96.4%), from €41,500 to €1,500
- Tangible fixed assets -€27,734
down €27,734 (-13.2%), from €209,701 to €181,967
of which Land and buildings: -€28,052
- Receivables within one year -€13,618
down €13,618 (-28.5%), from €47,758 to €34,140
of which Trade receivables: -€13,674
- Cash +€4,328
up €4,328 (+11.6%), from €37,426 to €41,754
- Other debts -€49,381
down €49,381 (-70.9%), from €69,611 to €20,230
- Debts after one year -€25,136
down €25,136 (-16.3%), from €153,768 to €128,632
- Tax, wage and social debts +€7,913
up €7,913 (+38.4%), from €20,608 to €28,520
of which Remuneration and social security: +€6,208
- Trade debts -€6,903
down €6,903 (-100.0%), from €6,903 to €0
- Staff costs -€1,157
down €1,157 (-6.3%), from €18,327 to €17,170
- Financial charges -€628
down €628 (-15.1%), from €4,173 to €3,545
- Gross operating margin -€626
down €626 (-2.1%), from €29,669 to €29,043
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €338,616 | €263,943 | -€74,673 | -22.1% |
| Fixed assets | 21/28 | €251,201 | €183,467 | -€67,734 | -27.0% |
| Tangible fixed assets | 22/27 | €209,701 | €181,967 | -€27,734 | -13.2% |
| Land and buildings | 22 | €206,994 | €178,942 | -€28,052 | -13.6% |
| Plant, machinery and equipment | 23 | €473 | €0 | -€473 | -100.0% |
| Furniture and vehicles | 24 | €2,234 | €3,026 | +€791 | +35.4% |
| Financial fixed assets | 28 | €41,500 | €1,500 | -€40,000 | -96.4% |
| Current assets | 29/58 | €87,416 | €80,476 | -€6,940 | -7.9% |
| Stocks and contracts in progress | 3 | €2,232 | €4,582 | +€2,350 | +105.3% |
| Stocks | 30/36 | €2,232 | €4,582 | +€2,350 | +105.3% |
| Amounts receivable within one year | 40/41 | €47,758 | €34,140 | -€13,618 | -28.5% |
| Trade receivables | 40 | €46,684 | €33,009 | -€13,674 | -29.3% |
| Other amounts receivable | 41 | €1,074 | €1,131 | +€56 | +5.2% |
| Cash at bank and in hand | 54/58 | €37,426 | €41,754 | +€4,328 | +11.6% |
| Total equity and liabilities | 10/49 | €338,616 | €263,943 | -€74,673 | -22.1% |
| Equity | 10/15 | €75,554 | €73,859 | -€1,695 | -2.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,446 | -€11,141 | -€1,695 | -17.9% |
| Amounts payable | 17/49 | €263,063 | €190,084 | -€72,978 | -27.7% |
| Amounts payable after more than one year | 17 | €153,768 | €128,632 | -€25,136 | -16.3% |
| Financial debts | 170/4 | €153,768 | €128,632 | -€25,136 | -16.3% |
| Amounts payable within one year | 42/48 | €109,294 | €61,452 | -€47,842 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €12,173 | €12,702 | +€529 | +4.3% |
| Trade debts | 44 | €6,903 | €0 | -€6,903 | -100.0% |
| Suppliers | 440/4 | €6,903 | €0 | -€6,903 | -100.0% |
| Taxes, remuneration and social security | 45 | €20,608 | €28,520 | +€7,913 | +38.4% |
| Taxes | 450/3 | €13,493 | €15,198 | +€1,705 | +12.6% |
| Remuneration and social security | 454/9 | €7,115 | €13,322 | +€6,208 | +87.2% |
| Other amounts payable | 47/48 | €69,611 | €20,230 | -€49,381 | -70.9% |
| Remuneration, social security and pensions | 62 | €18,327 | €17,170 | -€1,157 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,236 | €15,515 | +€278 | +1.8% |
| Other operating charges | 640/8 | €2,172 | €2,205 | +€33 | +1.5% |
| Gross operating margin | 9900 | €29,669 | €29,043 | -€626 | -2.1% |
| Operating profit (loss) | 9901 | -€6,066 | -€5,846 | +€220 | +3.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,173 | €3,545 | -€628 | -15.1% |
| Recurring financial charges | 65 | €4,173 | €3,545 | -€628 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,238 | -€9,390 | +€848 | +8.3% |
| Profit (loss) for the period | 9904 | -€10,238 | -€9,390 | +€848 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,238 | -€9,390 | +€848 | +8.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.