SAB IMMO: 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.
SAB IMMO
Largest movements
- Tangible fixed assets +€521,468
up €521,468 (+83.3%), from €626,194 to €1.1m
- Cash +€81,422
up €81,422 (+349.2%), from €23,315 to €104,736
mainly Debts after one year (+€795,516) and Net result for the year (+€92,386)
- Current investments +€57,906
up €57,906 (+180.7%), from €32,042 to €89,948
- Debts after one year +€795,516
up €795,516 (+447.3%), from €177,861 to €973,377
of which Financial debts: +€796,544
- Other debts -€237,493
down €237,493 (-70.6%), from €336,560 to €99,067
- Reserves +€62,386
up €62,386 (+30.2%), from €206,918 to €269,304
- Current portion of long-term debt +€21,013
up €21,013 (+76.7%), from €27,397 to €48,410
- Tax, wage and social debts +€16,345
up €16,345 (+208.6%), from €7,834 to €24,179
- Gross operating margin +€90,326
up €90,326 (+108.1%), from €83,577 to €173,904
- Financial charges +€35,682
up €35,682 (+1263.7%), from €2,824 to €38,506
- Taxes +€13,903
up €13,903 (+294.6%), from €4,719 to €18,621
- Depreciation -€7,649
down €7,649 (-26.9%), from €28,428 to €20,779
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 | €683,795 | €1,344,818 | +€661,024 | +96.7% |
| Fixed assets | 21/28 | €627,094 | €1,148,563 | +€521,468 | +83.2% |
| Tangible fixed assets | 22/27 | €626,194 | €1,147,663 | +€521,468 | +83.3% |
| Land and buildings | 22 | €626,194 | €1,147,663 | +€521,468 | +83.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €56,700 | €196,256 | +€139,556 | +246.1% |
| Amounts receivable within one year | 40/41 | €196 | - | -€196 | |
| Trade receivables | 40 | €172 | - | -€172 | |
| Other amounts receivable | 41 | €24 | - | -€24 | |
| Current investments | 50/53 | €32,042 | €89,948 | +€57,906 | +180.7% |
| Cash at bank and in hand | 54/58 | €23,315 | €104,736 | +€81,422 | +349.2% |
| Deferred charges and accrued income | 490/1 | €1,147 | €1,572 | +€425 | +37.0% |
| Total equity and liabilities | 10/49 | €683,795 | €1,344,818 | +€661,024 | +96.7% |
| Equity | 10/15 | €134,142 | €196,528 | +€62,386 | +46.5% |
| Contributions | 10/11 | €249,600 | €249,600 | = | 0.0% |
| Reserves | 13 | €206,918 | €269,304 | +€62,386 | +30.2% |
| Distributable reserves | 133 | €206,918 | €269,304 | +€62,386 | +30.2% |
| Profit (loss) carried forward | 14 | -€322,376 | -€322,376 | = | 0.0% |
| Amounts payable | 17/49 | €549,653 | €1,148,290 | +€598,638 | +108.9% |
| Amounts payable after more than one year | 17 | €177,861 | €973,377 | +€795,516 | +447.3% |
| Financial debts | 170/4 | €176,833 | €973,377 | +€796,544 | +450.5% |
| Other amounts payable | 178/9 | €1,029 | - | -€1,029 | |
| Amounts payable within one year | 42/48 | €371,791 | €174,913 | -€196,878 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €27,397 | €48,410 | +€21,013 | +76.7% |
| Trade debts | 44 | - | €3,256 | +€3,256 | |
| Suppliers | 440/4 | - | €3,256 | +€3,256 | |
| Taxes, remuneration and social security | 45 | €7,834 | €24,179 | +€16,345 | +208.6% |
| Taxes | 450/3 | €7,834 | €24,179 | +€16,345 | +208.6% |
| Other amounts payable | 47/48 | €336,560 | €99,067 | -€237,493 | -70.6% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,428 | €20,779 | -€7,649 | -26.9% |
| Other operating charges | 640/8 | €3,971 | €3,985 | +€14 | +0.3% |
| Gross operating margin | 9900 | €83,577 | €173,904 | +€90,326 | +108.1% |
| Operating profit (loss) | 9901 | €51,178 | €149,140 | +€97,962 | +191.4% |
| Financial income | 75/76B | €42 | €373 | +€331 | +781.2% |
| Recurring financial income | 75 | €42 | €373 | +€331 | +781.2% |
| Financial charges | 65/66B | €2,824 | €38,506 | +€35,682 | +1263.7% |
| Recurring financial charges | 65 | €2,824 | €38,506 | +€35,682 | +1263.7% |
| Profit (loss) for the period before taxes | 9903 | €48,397 | €111,007 | +€62,611 | +129.4% |
| Income taxes | 67/77 | €4,719 | €18,621 | +€13,903 | +294.6% |
| Profit (loss) for the period | 9904 | €43,678 | €92,386 | +€48,708 | +111.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,678 | €92,386 | +€48,708 | +111.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.