SABEMA: 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.
What changed
SABEMA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€741
2024 · €4,201-€3,459
Equity
€1.8m
2024 · €1.8m-€3,759
Cash
€327,525
2024 · €386,771-€59,246
Balance sheet total
€2.3m
2024 · €2.5m-€184,890
Largest movements
Assets
- Tangible fixed assets -€125,088
down €125,088 (-6.9%), from €1.8m to €1.7m
of which Land and buildings: -€111,934
- Cash -€59,246
down €59,246 (-15.3%), from €386,771 to €327,525
mainly Debts after one year (-€174,750) and Investment in fixed assets (net) (-€27,981)
Equity and liabilities
- Debts after one year -€174,750
down €174,750 (-43.7%), from €400,122 to €225,371
Income statement
- Gross operating margin -€5,566
down €5,566 (-2.6%), from €217,895 to €212,329
- Depreciation -€2,466
down €2,466 (-1.6%), from €155,535 to €153,069
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.
Result 2024
€4,201
Gross operating margin
-€5,566
Staff costs
-€2,000
Depreciation
+€2,466
Other operating charges
-€489
Financial charges
+€2,130
Result 2025
€741
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.
From operations
+€145,749
Investment
-€27,981
Financing
-€177,013
Cash 2024
€386,771
From operations (derived)
+€145,749
Net result for the year
+€741
Depreciation
+€153,069
Receivables within one year
-€1,089
Deferred charges and accrued income
+€1,645
Trade debts
-€9,784
Tax, wage and social debts
+€1,167
Investment (derived)
-€27,981
Investment in fixed assets (net)
-€27,981
Financing
-€177,013
Debts after one year
-€174,750
Current portion of long-term debt
+€2,237
Contributions, distributions and other
-€4,500
Cash 2025
€327,525
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,481,623 | €2,296,733 | -€184,890 | -7.5% |
| Fixed assets | 21/28 | €2,043,386 | €1,918,299 | -€125,088 | -6.1% |
| Tangible fixed assets | 22/27 | €1,803,475 | €1,678,387 | -€125,088 | -6.9% |
| Land and buildings | 22 | €1,749,427 | €1,637,492 | -€111,934 | -6.4% |
| Plant, machinery and equipment | 23 | €776 | €1,555 | +€779 | +100.4% |
| Furniture and vehicles | 24 | €53,273 | €39,340 | -€13,933 | -26.2% |
| Financial fixed assets | 28 | €239,911 | €239,911 | = | 0.0% |
| Current assets | 29/58 | €438,236 | €378,434 | -€59,802 | -13.6% |
| Amounts receivable within one year | 40/41 | €38,477 | €39,566 | +€1,089 | +2.8% |
| Trade receivables | 40 | €38,477 | €39,566 | +€1,089 | +2.8% |
| Cash at bank and in hand | 54/58 | €386,771 | €327,525 | -€59,246 | -15.3% |
| Deferred charges and accrued income | 490/1 | €12,989 | €11,343 | -€1,645 | -12.7% |
| Total equity and liabilities | 10/49 | €2,481,623 | €2,296,733 | -€184,890 | -7.5% |
| Equity | 10/15 | €1,845,166 | €1,841,408 | -€3,759 | -0.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Revaluation surpluses | 12 | €4,563 | €4,563 | = | 0.0% |
| Reserves | 13 | €774,874 | €774,874 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,000 | €60,000 | = | 0.0% |
| Distributable reserves | 133 | €700,000 | €700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €851,535 | €852,276 | +€741 | +0.1% |
| Investment grants | 15 | €65,459 | €60,959 | -€4,500 | -6.9% |
| Amounts payable | 17/49 | €636,456 | €455,325 | -€181,131 | -28.5% |
| Amounts payable after more than one year | 17 | €400,122 | €225,371 | -€174,750 | -43.7% |
| Financial debts | 170/4 | €400,122 | €225,371 | -€174,750 | -43.7% |
| Amounts payable within one year | 42/48 | €236,334 | €229,954 | -€6,381 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €172,513 | €174,750 | +€2,237 | +1.3% |
| Trade debts | 44 | €43,409 | €33,625 | -€9,784 | -22.5% |
| Suppliers | 440/4 | €43,409 | €33,625 | -€9,784 | -22.5% |
| Taxes, remuneration and social security | 45 | €20,412 | €21,579 | +€1,167 | +5.7% |
| Taxes | 450/3 | €12,876 | €13,587 | +€711 | +5.5% |
| Remuneration and social security | 454/9 | €7,536 | €7,992 | +€456 | +6.1% |
| Remuneration, social security and pensions | 62 | €37,744 | €39,744 | +€2,000 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,535 | €153,069 | -€2,466 | -1.6% |
| Other operating charges | 640/8 | €15,578 | €16,067 | +€489 | +3.1% |
| Gross operating margin | 9900 | €217,895 | €212,329 | -€5,566 | -2.6% |
| Operating profit (loss) | 9901 | €9,038 | €3,449 | -€5,589 | -61.8% |
| Financial income | 75/76B | €4,500 | €4,500 | = | 0.0% |
| Recurring financial income | 75 | €4,500 | €4,500 | = | 0.0% |
| Financial charges | 65/66B | €9,338 | €7,208 | -€2,130 | -22.8% |
| Recurring financial charges | 65 | €9,338 | €7,208 | -€2,130 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €4,201 | €741 | -€3,459 | -82.4% |
| Profit (loss) for the period | 9904 | €4,201 | €741 | -€3,459 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,201 | €741 | -€3,459 | -82.4% |
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 8 October 2026 via checked.be.