SABCO: 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.
SABCO
Largest movements
- Receivables within one year +€123,339
up €123,339 (+69.6%), from €177,301 to €300,640
of which Trade receivables: +€119,510
- Stocks and contracts -€28,056
down €28,056 (-12.8%), from €218,496 to €190,440
- Cash -€7,504
down €7,504 (-39.1%), from €19,192 to €11,688
mainly Short-term financial debts (-€150,000) and Receivables within one year (-€123,339)
- Tangible fixed assets -€6,297
down €6,297 (-17.1%), from €36,792 to €30,495
of which Furniture and vehicles: -€3,769
- Other debts +€187,503
up €187,503 (+1,251%), from €14,987 to €202,490
- Short-term financial debts -€150,000
no longer reported in 2025 (was €150,000)
- Trade debts +€120,647
up €120,647 (+47.1%), from €256,334 to €376,981
- Profit (loss) carried forward -€56,826
down €56,826, from €1,497 to -€55,329
- Tax, wage and social debts -€17,461
down €17,461 (-75.4%), from €23,152 to €5,691
of which Remuneration and social security: -€14,995
- Gross operating margin -€78,067
down €78,067 (-79.0%), from €98,860 to €20,793
- Staff costs -€54,294
down €54,294 (-70.8%), from €76,732 to €22,438
- Other operating charges +€12,669
up €12,669 (+59.6%), from €21,270 to €33,939
- Financial charges -€12,080
down €12,080 (-54.4%), from €22,186 to €10,106
- Depreciation -€1,125
down €1,125 (-9.1%), from €12,422 to €11,297
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 | €458,984 | €542,847 | +€83,863 | +18.3% |
| Fixed assets | 21/28 | €41,177 | €34,880 | -€6,297 | -15.3% |
| Tangible fixed assets | 22/27 | €36,792 | €30,495 | -€6,297 | -17.1% |
| Plant, machinery and equipment | 23 | €28,434 | €25,906 | -€2,528 | -8.9% |
| Furniture and vehicles | 24 | €8,358 | €4,589 | -€3,769 | -45.1% |
| Financial fixed assets | 28 | €4,385 | €4,385 | = | 0.0% |
| Current assets | 29/58 | €417,807 | €507,967 | +€90,160 | +21.6% |
| Stocks and contracts in progress | 3 | €218,496 | €190,440 | -€28,056 | -12.8% |
| Stocks | 30/36 | €218,496 | €190,440 | -€28,056 | -12.8% |
| Amounts receivable within one year | 40/41 | €177,301 | €300,640 | +€123,339 | +69.6% |
| Trade receivables | 40 | €174,232 | €293,742 | +€119,510 | +68.6% |
| Other amounts receivable | 41 | €3,069 | €6,898 | +€3,829 | +125% |
| Cash at bank and in hand | 54/58 | €19,192 | €11,688 | -€7,504 | -39.1% |
| Deferred charges and accrued income | 490/1 | €2,818 | €5,199 | +€2,381 | +84.5% |
| Total equity and liabilities | 10/49 | €458,984 | €542,847 | +€83,863 | +18.3% |
| Equity | 10/15 | €14,511 | -€42,315 | -€56,826 | |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €4,338 | €4,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,338 | €4,338 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,497 | -€55,329 | -€56,826 | |
| Amounts payable | 17/49 | €444,473 | €585,162 | +€140,689 | +31.7% |
| Amounts payable within one year | 42/48 | €444,473 | €585,162 | +€140,689 | +31.7% |
| Financial debts | 43 | €150,000 | - | -€150,000 | |
| Credit institutions | 430/8 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €256,334 | €376,981 | +€120,647 | +47.1% |
| Suppliers | 440/4 | €256,334 | €376,981 | +€120,647 | +47.1% |
| Taxes, remuneration and social security | 45 | €23,152 | €5,691 | -€17,461 | -75.4% |
| Taxes | 450/3 | €3,224 | €758 | -€2,466 | -76.5% |
| Remuneration and social security | 454/9 | €19,928 | €4,933 | -€14,995 | -75.2% |
| Other amounts payable | 47/48 | €14,987 | €202,490 | +€187,503 | +1,251% |
| Remuneration, social security and pensions | 62 | €76,732 | €22,438 | -€54,294 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,422 | €11,297 | -€1,125 | -9.1% |
| Other operating charges | 640/8 | €21,270 | €33,939 | +€12,669 | +59.6% |
| Gross operating margin | 9900 | €98,860 | €20,793 | -€78,067 | -79.0% |
| Operating profit (loss) | 9901 | -€11,564 | -€46,881 | -€35,317 | -305% |
| Financial income | 75/76B | €8 | €7 | -€1 | -12.5% |
| Recurring financial income | 75 | €8 | €7 | -€1 | -12.5% |
| Financial charges | 65/66B | €22,186 | €10,106 | -€12,080 | -54.4% |
| Recurring financial charges | 65 | €22,186 | €10,106 | -€12,080 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,742 | -€56,980 | -€23,238 | -68.9% |
| Income taxes | 67/77 | €769 | -€154 | -€923 | |
| Profit (loss) for the period | 9904 | -€34,511 | -€56,826 | -€22,315 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,511 | -€56,826 | -€22,315 | -64.7% |
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 21 October 2026 via checked.be.