SABELPHINE: 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.
SABELPHINE
Largest movements
- Tangible fixed assets -€14,056
down €14,056 (-50.4%), from €27,905 to €13,849
- Stocks and contracts +€3,239
up €3,239 (+49.8%), from €6,500 to €9,739
- Receivables within one year -€2,272
down €2,272 (-66.7%), from €3,408 to €1,135
- Trade debts -€21,832
down €21,832 (-49.6%), from €44,040 to €22,208
- Short-term financial debts +€14,954
up €14,954 (+394.4%), from €3,792 to €18,746
- Other debts -€6,273
down €6,273 (-23.3%), from €26,889 to €20,616
- Profit (loss) carried forward +€2,119
up €2,119 (+3.0%), from -€70,137 to -€68,017
- Debts after one year -€1,231
no longer reported in 2025 (was €1,231)
- Staff costs +€15,857
up €15,857 (+91.1%), from €17,409 to €33,266
- Gross operating margin -€10,929
down €10,929 (-15.7%), from €69,426 to €58,497
- Financial charges -€1,145
down €1,145 (-19.6%), from €5,839 to €4,694
- Depreciation +€796
up €796 (+4.6%), from €17,309 to €18,106
- Financial income +€750
up €750 (+125.5%), from €598 to €1,348
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 | €38,644 | €25,282 | -€13,362 | -34.6% |
| Fixed assets | 21/28 | €27,995 | €13,939 | -€14,056 | -50.2% |
| Tangible fixed assets | 22/27 | €27,905 | €13,849 | -€14,056 | -50.4% |
| Plant, machinery and equipment | 23 | €16,688 | €10,266 | -€6,423 | -38.5% |
| Furniture and vehicles | 24 | €3,731 | €1,946 | -€1,785 | -47.8% |
| Leasing and similar rights | 25 | €7,486 | €1,638 | -€5,848 | -78.1% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €10,649 | €11,342 | +€694 | +6.5% |
| Stocks and contracts in progress | 3 | €6,500 | €9,739 | +€3,239 | +49.8% |
| Stocks | 30/36 | €6,500 | €9,739 | +€3,239 | +49.8% |
| Amounts receivable within one year | 40/41 | €3,408 | €1,135 | -€2,272 | -66.7% |
| Trade receivables | 40 | €3,408 | €1,135 | -€2,272 | -66.7% |
| Cash at bank and in hand | 54/58 | €741 | €469 | -€273 | -36.8% |
| Total equity and liabilities | 10/49 | €38,644 | €25,282 | -€13,362 | -34.6% |
| Equity | 10/15 | -€63,937 | -€61,817 | +€2,119 | +3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,137 | -€68,017 | +€2,119 | +3.0% |
| Amounts payable | 17/49 | €102,581 | €87,099 | -€15,482 | -15.1% |
| Amounts payable after more than one year | 17 | €1,231 | - | -€1,231 | |
| Financial debts | 170/4 | €1,231 | - | -€1,231 | |
| Amounts payable within one year | 42/48 | €101,350 | €87,099 | -€14,251 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €3,345 | €2,313 | -€1,032 | -30.9% |
| Financial debts | 43 | €3,792 | €18,746 | +€14,954 | +394.4% |
| Credit institutions | 430/8 | €3,792 | €18,746 | +€14,954 | +394.4% |
| Trade debts | 44 | €44,040 | €22,208 | -€21,832 | -49.6% |
| Suppliers | 440/4 | €44,040 | €22,208 | -€21,832 | -49.6% |
| Taxes, remuneration and social security | 45 | €23,283 | €23,215 | -€68 | -0.3% |
| Taxes | 450/3 | €12,865 | €10,154 | -€2,712 | -21.1% |
| Remuneration and social security | 454/9 | €10,418 | €13,062 | +€2,644 | +25.4% |
| Other amounts payable | 47/48 | €26,889 | €20,616 | -€6,273 | -23.3% |
| Remuneration, social security and pensions | 62 | €17,409 | €33,266 | +€15,857 | +91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,309 | €18,106 | +€796 | +4.6% |
| Other operating charges | 640/8 | €678 | €810 | +€132 | +19.4% |
| Gross operating margin | 9900 | €69,426 | €58,497 | -€10,929 | -15.7% |
| Operating profit (loss) | 9901 | €34,029 | €6,315 | -€27,714 | -81.4% |
| Financial income | 75/76B | €598 | €1,348 | +€750 | +125.5% |
| Recurring financial income | 75 | €598 | €1,348 | +€750 | +125.5% |
| Financial charges | 65/66B | €5,839 | €4,694 | -€1,145 | -19.6% |
| Recurring financial charges | 65 | €5,839 | €4,694 | -€1,145 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €28,788 | €2,969 | -€25,818 | -89.7% |
| Income taxes | 67/77 | €845 | €850 | +€5 | +0.6% |
| Profit (loss) for the period | 9904 | €27,943 | €2,119 | -€25,824 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,943 | €2,119 | -€25,824 | -92.4% |
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 4 October 2026 via checked.be.