S. SABLON: 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.
What changed
S. SABLON
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024not consecutivefiled annual accounts (NBB)
Net result for the year
€3.0m
2024 · €947,190+€2.0m
Equity
€16.3m
2024 · €13.3m+€3.0m
Cash
€161,062
2024 · €50,305+€110,758
Balance sheet total
€21.2m
2024 · €15.9m+€5.2m
Largest movements
Assets
- Financial fixed assets +€5.1m
up €5.1m (+59.4%), from €8.7m to €13.8m
Equity and liabilities
- Reserves +€3.0m
up €3.0m (+22.5%), from €13.3m to €16.3m
of which Distributable reserves: +€3.0m
- Short-term financial debts +€2.4m
up €2.4m (+1,900%), from €125,000 to €2.5m
- Debts after one year -€560,000
down €560,000 (-38.4%), from €1.5m to €900,000
- Other debts +€529,479
up €529,479 (+126%), from €419,541 to €949,020
Income statement
- Gross operating margin +€2.3m
up €2.3m (+281%), from €814,525 to €3.1m
- Financial income +€790,681
up €790,681 (+108%), from €733,706 to €1.5m
- Taxes +€715,251
up €715,251 (+450%), from €158,920 to €874,171
- Financial charges +€90,698
up €90,698 (+81.1%), from €111,868 to €202,567
- Depreciation +€71,893
up €71,893 (+26.0%), from €276,378 to €348,270
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.
Result 2024
€947,190
Gross operating margin
+€2.3m
Staff costs
-€15,016
Depreciation
-€71,893
Other operating charges
-€17,120
Other operating items
-€130,022
Financial income
+€790,681
Financial charges
-€90,698
Taxes
-€715,251
Result 2025
€3.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,927,278 | €21,168,411 | +€5.2m | +32.9% |
| Fixed assets | 21/28 | €13,844,401 | €19,043,093 | +€5.2m | +37.6% |
| Tangible fixed assets | 22/27 | €5,177,403 | €5,226,276 | +€48,873 | +0.9% |
| Land and buildings | 22 | €4,446,077 | €4,565,606 | +€119,530 | +2.7% |
| Furniture and vehicles | 24 | €110,450 | €90,350 | -€20,100 | -18.2% |
| Other tangible fixed assets | 26 | €620,876 | €570,320 | -€50,556 | -8.1% |
| Financial fixed assets | 28 | €8,666,998 | €13,816,817 | +€5.1m | +59.4% |
| Current assets | 29/58 | €2,082,877 | €2,125,318 | +€42,441 | +2.0% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Trade receivables | 290 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,497,520 | €1,500,771 | +€3,251 | +0.2% |
| Trade receivables | 40 | €360 | €2,418 | +€2,058 | +572% |
| Other amounts receivable | 41 | €1,497,160 | €1,498,353 | +€1,193 | +0.1% |
| Current investments | 50/53 | €438,549 | €394,579 | -€43,969 | -10.0% |
| Cash at bank and in hand | 54/58 | €50,305 | €161,062 | +€110,758 | +220% |
| Deferred charges and accrued income | 490/1 | €36,503 | €8,905 | -€27,598 | -75.6% |
| Total equity and liabilities | 10/49 | €15,927,278 | €21,168,411 | +€5.2m | +32.9% |
| Equity | 10/15 | €13,337,814 | €16,328,514 | +€3.0m | +22.4% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €13,313,025 | €16,303,725 | +€3.0m | +22.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €83,791 | €80,863 | -€2,928 | -3.5% |
| Distributable reserves | 133 | €13,229,234 | €16,222,862 | +€3.0m | +22.6% |
| Provisions and deferred taxes | 16 | €34,947 | €33,717 | -€1,230 | -3.5% |
| Deferred taxes | 168 | €34,947 | €33,717 | -€1,230 | -3.5% |
| Amounts payable | 17/49 | €2,554,517 | €4,806,180 | +€2.3m | +88.1% |
| Amounts payable after more than one year | 17 | €1,460,000 | €900,000 | -€560,000 | -38.4% |
| Financial debts | 170/4 | €1,460,000 | €900,000 | -€560,000 | -38.4% |
| Amounts payable within one year | 42/48 | €1,088,670 | €3,903,960 | +€2.8m | +259% |
| Current portion of amounts payable after more than one year | 42 | €510,000 | €410,000 | -€100,000 | -19.6% |
| Financial debts | 43 | €125,000 | €2,500,000 | +€2.4m | +1,900% |
| Credit institutions | 430/8 | €125,000 | €2,500,000 | +€2.4m | +1,900% |
| Trade debts | 44 | €4,706 | €32,726 | +€28,020 | +595% |
| Suppliers | 440/4 | €4,706 | €32,726 | +€28,020 | +595% |
| Taxes, remuneration and social security | 45 | €29,423 | €12,213 | -€17,209 | -58.5% |
| Taxes | 450/3 | €26,409 | €7,565 | -€18,844 | -71.4% |
| Remuneration and social security | 454/9 | €3,013 | €4,648 | +€1,635 | +54.3% |
| Other amounts payable | 47/48 | €419,541 | €949,020 | +€529,479 | +126% |
| Accrued charges and deferred income | 492/3 | €5,847 | €2,220 | -€3,627 | -62.0% |
| Non-recurring operating income | 76A | €23,636 | €2,381,320 | +€2.4m | +9,975% |
| Remuneration, social security and pensions | 62 | €32,980 | €47,995 | +€15,016 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276,378 | €348,270 | +€71,893 | +26.0% |
| Other operating charges | 640/8 | €22,125 | €39,245 | +€17,120 | +77.4% |
| Non-recurring operating charges | 66A | - | €130,022 | +€130,022 | |
| Gross operating margin | 9900 | €814,525 | €3,107,352 | +€2.3m | +281% |
| Operating profit (loss) | 9901 | €483,043 | €2,541,820 | +€2.1m | +426% |
| Financial income | 75/76B | €733,706 | €1,524,387 | +€790,681 | +108% |
| Recurring financial income | 75 | €733,706 | €1,524,387 | +€790,681 | +108% |
| Financial charges | 65/66B | €111,868 | €202,567 | +€90,698 | +81.1% |
| Recurring financial charges | 65 | €111,868 | €202,567 | +€90,698 | +81.1% |
| Profit (loss) for the period before taxes | 9903 | €1,104,881 | €3,863,641 | +€2.8m | +250% |
| Transfer from deferred taxes | 780 | €1,230 | €1,230 | -€0 | 0.0% |
| Income taxes | 67/77 | €158,920 | €874,171 | +€715,251 | +450% |
| Profit (loss) for the period | 9904 | €947,190 | €2,990,700 | +€2.0m | +216% |
| Transfer from tax-exempt reserves | 789 | €2,928 | €2,928 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €950,118 | €2,993,627 | +€2.0m | +215% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.