SABEL PRINT: 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.
SABEL PRINT
Largest movements
- Cash -€44,332
down €44,332 (-65.4%), from €67,803 to €23,472
mainly Trade debts (-€25,063) and Receivables within one year (-€20,895)
- Stocks and contracts -€21,286
down €21,286 (-59.7%), from €35,646 to €14,361
- Receivables within one year +€20,895
up €20,895 (+9.4%), from €221,138 to €242,033
of which Trade receivables: +€21,402
- Trade debts -€25,063
down €25,063 (-35.6%), from €70,477 to €45,414
- Other debts -€19,109
down €19,109 (-7.7%), from €248,826 to €229,717
- Tax, wage and social debts -€12,816
down €12,816 (-10.0%), from €128,234 to €115,417
of which Taxes: -€17,156
- Profit (loss) carried forward +€10,524
up €10,524 (+5.6%), from -€187,463 to -€176,939
- Gross operating margin +€27,461
up €27,461 (+30.5%), from €90,175 to €117,635
- Staff costs -€4,306
down €4,306 (-4.4%), from €97,217 to €92,911
- Write-downs +€3,757
up €3,757, from -€3,757 to €0
- Financial charges -€1,873
down €1,873 (-33.9%), from €5,524 to €3,651
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 | €424,019 | €377,555 | -€46,464 | -11.0% |
| Fixed assets | 21/28 | €98,206 | €97,036 | -€1,169 | -1.2% |
| Tangible fixed assets | 22/27 | €98,084 | €96,915 | -€1,169 | -1.2% |
| Land and buildings | 22 | €98,084 | €96,915 | -€1,169 | -1.2% |
| Financial fixed assets | 28 | €121 | €121 | = | 0.0% |
| Current assets | 29/58 | €325,813 | €280,519 | -€45,294 | -13.9% |
| Stocks and contracts in progress | 3 | €35,646 | €14,361 | -€21,286 | -59.7% |
| Stocks | 30/36 | €35,646 | €14,361 | -€21,286 | -59.7% |
| Amounts receivable within one year | 40/41 | €221,138 | €242,033 | +€20,895 | +9.4% |
| Trade receivables | 40 | €207,168 | €228,570 | +€21,402 | +10.3% |
| Other amounts receivable | 41 | €13,970 | €13,464 | -€507 | -3.6% |
| Current investments | 50/53 | €29 | €29 | +€0 | +0.2% |
| Cash at bank and in hand | 54/58 | €67,803 | €23,472 | -€44,332 | -65.4% |
| Deferred charges and accrued income | 490/1 | €1,196 | €624 | -€572 | -47.8% |
| Total equity and liabilities | 10/49 | €424,019 | €377,555 | -€46,464 | -11.0% |
| Equity | 10/15 | -€27,235 | -€16,710 | +€10,524 | +38.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €85,861 | €85,861 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,861 | €73,861 | = | 0.0% |
| Distributable reserves | 133 | €4,563 | €4,563 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,463 | -€176,939 | +€10,524 | +5.6% |
| Amounts payable | 17/49 | €451,253 | €394,265 | -€56,988 | -12.6% |
| Amounts payable after more than one year | 17 | €3,717 | €3,717 | = | 0.0% |
| Other amounts payable | 178/9 | €3,717 | €3,717 | = | 0.0% |
| Amounts payable within one year | 42/48 | €447,536 | €390,548 | -€56,988 | -12.7% |
| Trade debts | 44 | €70,477 | €45,414 | -€25,063 | -35.6% |
| Suppliers | 440/4 | €70,477 | €45,414 | -€25,063 | -35.6% |
| Taxes, remuneration and social security | 45 | €128,234 | €115,417 | -€12,816 | -10.0% |
| Taxes | 450/3 | €27,354 | €10,198 | -€17,156 | -62.7% |
| Remuneration and social security | 454/9 | €100,879 | €105,219 | +€4,340 | +4.3% |
| Other amounts payable | 47/48 | €248,826 | €229,717 | -€19,109 | -7.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €97,217 | €92,911 | -€4,306 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €836 | €1,169 | +€333 | +39.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,757 | €0 | +€3,757 | |
| Other operating charges | 640/8 | €8,387 | €9,380 | +€993 | +11.8% |
| Gross operating margin | 9900 | €90,175 | €117,635 | +€27,461 | +30.5% |
| Operating profit (loss) | 9901 | -€12,508 | €14,175 | +€26,683 | |
| Financial income | 75/76B | €291 | €0 | -€291 | -100.0% |
| Recurring financial income | 75 | €291 | €0 | -€291 | -100.0% |
| Financial charges | 65/66B | €5,524 | €3,651 | -€1,873 | -33.9% |
| Recurring financial charges | 65 | €5,524 | €3,651 | -€1,873 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,741 | €10,524 | +€28,265 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -75.0% |
| Profit (loss) for the period | 9904 | -€17,741 | €10,524 | +€28,265 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,741 | €10,524 | +€28,265 |
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 10 October 2026 via checked.be.