SABELCO: 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.
SABELCO
Largest movements
- Current investments +€410,993
up €410,993 (+7.8%), from €5.2m to €5.6m
- Tangible fixed assets -€320,340
down €320,340 (-32.5%), from €986,179 to €665,839
- Cash -€135,576
down €135,576 (-84.9%), from €159,605 to €24,029
mainly Current investments (-€410,993) and Other debts (-€142,970)
- Reserves +€158,680
up €158,680 (+29.2%), from €544,070 to €702,751
- Other debts -€142,970
down €142,970 (-23.4%), from €611,849 to €468,879
- Gross operating margin -€580,979
down €580,979 (-93.9%), from €618,689 to €37,710
- Taxes -€178,968
down €178,968 (-70.7%), from €253,031 to €74,064
- Financial income +€20,810
up €20,810 (+9.7%), from €214,588 to €235,398
- Financial charges +€10,029
up €10,029 (+3,833%), from €262 to €10,291
- Depreciation -€9,431
down €9,431 (-30.5%), from €30,895 to €21,463
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 | €6,895,320 | €6,836,253 | -€59,067 | -0.9% |
| Fixed assets | 21/28 | €1,460,390 | €1,140,050 | -€320,340 | -21.9% |
| Tangible fixed assets | 22/27 | €986,179 | €665,839 | -€320,340 | -32.5% |
| Land and buildings | 22 | €986,179 | €665,839 | -€320,340 | -32.5% |
| Financial fixed assets | 28 | €474,211 | €474,211 | = | 0.0% |
| Current assets | 29/58 | €5,434,929 | €5,696,203 | +€261,274 | +4.8% |
| Amounts receivable within one year | 40/41 | €38,875 | €24,731 | -€14,143 | -36.4% |
| Trade receivables | 40 | €38,875 | €21,564 | -€17,310 | -44.5% |
| Other amounts receivable | 41 | - | €3,167 | +€3,167 | |
| Current investments | 50/53 | €5,236,450 | €5,647,443 | +€410,993 | +7.8% |
| Cash at bank and in hand | 54/58 | €159,605 | €24,029 | -€135,576 | -84.9% |
| Total equity and liabilities | 10/49 | €6,895,320 | €6,836,253 | -€59,067 | -0.9% |
| Equity | 10/15 | €6,173,690 | €6,332,370 | +€158,680 | +2.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €544,070 | €702,751 | +€158,680 | +29.2% |
| Distributable reserves | 133 | €544,070 | €702,751 | +€158,680 | +29.2% |
| Profit (loss) carried forward | 14 | €5,617,220 | €5,617,220 | = | 0.0% |
| Amounts payable | 17/49 | €721,630 | €503,883 | -€217,747 | -30.2% |
| Amounts payable within one year | 42/48 | €721,630 | €503,883 | -€217,747 | -30.2% |
| Trade debts | 44 | €49,858 | €16,803 | -€33,055 | -66.3% |
| Suppliers | 440/4 | €49,858 | €16,803 | -€33,055 | -66.3% |
| Taxes, remuneration and social security | 45 | €59,923 | €18,201 | -€41,722 | -69.6% |
| Taxes | 450/3 | €59,923 | €18,201 | -€41,722 | -69.6% |
| Other amounts payable | 47/48 | €611,849 | €468,879 | -€142,970 | -23.4% |
| Non-recurring operating income | 76A | €531,420 | €8,023 | -€523,398 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,895 | €21,463 | -€9,431 | -30.5% |
| Other operating charges | 640/8 | €6,879 | €8,610 | +€1,731 | +25.2% |
| Gross operating margin | 9900 | €618,689 | €37,710 | -€580,979 | -93.9% |
| Operating profit (loss) | 9901 | €580,916 | €7,637 | -€573,278 | -98.7% |
| Financial income | 75/76B | €214,588 | €235,398 | +€20,810 | +9.7% |
| Recurring financial income | 75 | €214,588 | €235,398 | +€20,810 | +9.7% |
| Financial charges | 65/66B | €262 | €10,291 | +€10,029 | +3,833% |
| Recurring financial charges | 65 | €262 | €10,291 | +€10,029 | +3,833% |
| Profit (loss) for the period before taxes | 9903 | €795,242 | €232,744 | -€562,498 | -70.7% |
| Income taxes | 67/77 | €253,031 | €74,064 | -€178,968 | -70.7% |
| Profit (loss) for the period | 9904 | €542,210 | €158,680 | -€383,530 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €542,210 | €158,680 | -€383,530 | -70.7% |
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 14 October 2026 via checked.be.