SABEPA: 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.
SABEPA
Largest movements
- Receivables within one year -€17,916
down €17,916 (-60.4%), from €29,643 to €11,727
of which Trade receivables: -€14,521
- Cash +€456
up €456 (+15.2%), from €3,009 to €3,465
mainly Receivables within one year (+€17,916) and Other debts (+€5,675)
- Trade debts -€11,929
down €11,929 (-58.1%), from €20,548 to €8,619
- Profit (loss) carried forward -€8,019
down €8,019 (-3.2%), from -€248,370 to -€256,389
- Other debts +€5,675
up €5,675 (+2.3%), from €249,675 to €255,350
- Tax, wage and social debts -€5,497
down €5,497 (-94.0%), from €5,850 to €352
- Short-term financial debts +€2,000
new in 2025: €2,000
- Gross operating margin +€4,549
up €4,549 (+40.5%), from -€11,245 to -€6,696
- Depreciation -€980
down €980 (-74.4%), from €1,316 to €336
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 | €34,620 | €16,850 | -€17,771 | -51.3% |
| Fixed assets | 21/28 | €336 | - | -€336 | |
| Tangible fixed assets | 22/27 | €336 | - | -€336 | |
| Plant, machinery and equipment | 23 | €336 | - | -€336 | |
| Current assets | 29/58 | €34,284 | €16,850 | -€17,434 | -50.9% |
| Amounts receivable within one year | 40/41 | €29,643 | €11,727 | -€17,916 | -60.4% |
| Trade receivables | 40 | €22,555 | €8,034 | -€14,521 | -64.4% |
| Other amounts receivable | 41 | €7,088 | €3,692 | -€3,395 | -47.9% |
| Cash at bank and in hand | 54/58 | €3,009 | €3,465 | +€456 | +15.2% |
| Deferred charges and accrued income | 490/1 | €1,632 | €1,658 | +€25 | +1.6% |
| Total equity and liabilities | 10/49 | €34,620 | €16,850 | -€17,771 | -51.3% |
| Equity | 10/15 | -€241,452 | -€249,471 | -€8,019 | -3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €717 | €717 | = | 0.0% |
| Distributable reserves | 133 | €717 | €717 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,370 | -€256,389 | -€8,019 | -3.2% |
| Amounts payable | 17/49 | €276,073 | €266,321 | -€9,752 | -3.5% |
| Amounts payable within one year | 42/48 | €276,073 | €266,321 | -€9,752 | -3.5% |
| Financial debts | 43 | - | €2,000 | +€2,000 | |
| Credit institutions | 430/8 | - | €2,000 | +€2,000 | |
| Trade debts | 44 | €20,548 | €8,619 | -€11,929 | -58.1% |
| Suppliers | 440/4 | €20,548 | €8,619 | -€11,929 | -58.1% |
| Taxes, remuneration and social security | 45 | €5,850 | €352 | -€5,497 | -94.0% |
| Taxes | 450/3 | €5,850 | €352 | -€5,497 | -94.0% |
| Other amounts payable | 47/48 | €249,675 | €255,350 | +€5,675 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,316 | €336 | -€980 | -74.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €47 | +€47 | |
| Gross operating margin | 9900 | -€11,245 | -€6,696 | +€4,549 | +40.5% |
| Operating profit (loss) | 9901 | -€12,948 | -€7,479 | +€5,469 | +42.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €442 | €540 | +€97 | +22.0% |
| Recurring financial charges | 65 | €442 | €540 | +€97 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,391 | -€8,019 | +€5,372 | +40.1% |
| Profit (loss) for the period | 9904 | -€13,391 | -€8,019 | +€5,372 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,391 | -€8,019 | +€5,372 | +40.1% |
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 1 October 2026 via checked.be.