S.A.N.E.L.E.C.: 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.
S.A.N.E.L.E.C.
Largest movements
- Receivables within one year -€109,618
down €109,618 (-54.7%), from €200,567 to €90,949
of which Trade receivables: -€113,161
- Tangible fixed assets +€19,982
up €19,982 (+6.7%), from €296,662 to €316,644
of which Furniture and vehicles: +€38,034
- Cash -€8,513
down €8,513 (-24.4%), from €34,920 to €26,407
mainly Trade debts (-€103,649) and Investment in fixed assets (net) (-€38,591)
- Trade debts -€103,649
no longer reported in 2025 (was €103,649)
- Other debts +€37,771
up €37,771 (+76.8%), from €49,178 to €86,949
- Debts after one year -€26,151
down €26,151 (-19.9%), from €131,201 to €105,050
- Gross operating margin -€65,165
down €65,165 (-47.6%), from €136,980 to €71,814
- Taxes -€17,165
no longer reported in 2025 (was €17,165)
- Staff costs +€16,727
up €16,727 (+63.3%), from €26,429 to €43,156
- Depreciation +€4,362
up €4,362 (+30.6%), from €14,247 to €18,608
- Financial charges -€1,747
down €1,747 (-27.9%), from €6,250 to €4,503
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 | €537,682 | €443,297 | -€94,385 | -17.6% |
| Fixed assets | 21/28 | €296,662 | €316,644 | +€19,982 | +6.7% |
| Tangible fixed assets | 22/27 | €296,662 | €316,644 | +€19,982 | +6.7% |
| Land and buildings | 22 | €292,606 | €278,610 | -€13,996 | -4.8% |
| Plant, machinery and equipment | 23 | €4,055 | - | -€4,055 | |
| Furniture and vehicles | 24 | - | €38,034 | +€38,034 | |
| Current assets | 29/58 | €241,020 | €126,653 | -€114,368 | -47.5% |
| Stocks and contracts in progress | 3 | €2,423 | €3,544 | +€1,122 | +46.3% |
| Stocks | 30/36 | €2,423 | €3,544 | +€1,122 | +46.3% |
| Amounts receivable within one year | 40/41 | €200,567 | €90,949 | -€109,618 | -54.7% |
| Trade receivables | 40 | €192,827 | €79,666 | -€113,161 | -58.7% |
| Other amounts receivable | 41 | €7,741 | €11,283 | +€3,542 | +45.8% |
| Cash at bank and in hand | 54/58 | €34,920 | €26,407 | -€8,513 | -24.4% |
| Deferred charges and accrued income | 490/1 | €3,110 | €5,752 | +€2,642 | +84.9% |
| Total equity and liabilities | 10/49 | €537,682 | €443,297 | -€94,385 | -17.6% |
| Equity | 10/15 | €174,364 | €176,952 | +€2,588 | +1.5% |
| Contributions | 10/11 | €13,386 | €13,386 | = | 0.0% |
| Reserves | 13 | €101,359 | €101,359 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €99,500 | €99,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,619 | €62,207 | +€2,588 | +4.3% |
| Amounts payable | 17/49 | €363,318 | €266,344 | -€96,973 | -26.7% |
| Amounts payable after more than one year | 17 | €131,201 | €105,050 | -€26,151 | -19.9% |
| Financial debts | 170/4 | €131,201 | €105,050 | -€26,151 | -19.9% |
| Amounts payable within one year | 42/48 | €228,682 | €161,294 | -€67,388 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €25,409 | €26,151 | +€742 | +2.9% |
| Trade debts | 44 | €103,649 | - | -€103,649 | |
| Suppliers | 440/4 | €103,649 | - | -€103,649 | |
| Taxes, remuneration and social security | 45 | €50,446 | €48,195 | -€2,251 | -4.5% |
| Taxes | 450/3 | €40,244 | €23,390 | -€16,854 | -41.9% |
| Remuneration and social security | 454/9 | €10,202 | €24,805 | +€14,603 | +143% |
| Other amounts payable | 47/48 | €49,178 | €86,949 | +€37,771 | +76.8% |
| Accrued charges and deferred income | 492/3 | €3,435 | - | -€3,435 | |
| Non-recurring operating income | 76A | €909 | - | -€909 | |
| Remuneration, social security and pensions | 62 | €26,429 | €43,156 | +€16,727 | +63.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,247 | €18,608 | +€4,362 | +30.6% |
| Other operating charges | 640/8 | €3,126 | €2,959 | -€167 | -5.3% |
| Non-recurring operating charges | 66A | €351 | - | -€351 | |
| Gross operating margin | 9900 | €136,980 | €71,814 | -€65,165 | -47.6% |
| Operating profit (loss) | 9901 | €92,827 | €7,091 | -€85,736 | -92.4% |
| Financial income | 75/76B | €870 | €0 | -€870 | -100.0% |
| Recurring financial income | 75 | €870 | €0 | -€870 | -100.0% |
| Financial charges | 65/66B | €6,250 | €4,503 | -€1,747 | -27.9% |
| Recurring financial charges | 65 | €6,250 | €4,503 | -€1,747 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €87,447 | €2,588 | -€84,859 | -97.0% |
| Income taxes | 67/77 | €17,165 | - | -€17,165 | |
| Profit (loss) for the period | 9904 | €70,281 | €2,588 | -€67,693 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,281 | €2,588 | -€67,693 | -96.3% |
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 14 October 2026 via checked.be.