SABLO: 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.
SABLO
Largest movements
- Receivables within one year +€118,907
up €118,907 (+73.4%), from €161,923 to €280,830
of which Trade receivables: +€76,746
- Tangible fixed assets -€48,850
down €48,850 (-34.3%), from €142,280 to €93,431
of which Leasing and similar rights: -€25,321
- Stocks and contracts +€23,874
up €23,874 (+6.2%), from €386,074 to €409,948
of which Stocks: +€46,754
- Trade debts +€123,136
up €123,136 (+167.6%), from €73,464 to €196,600
- Other debts -€117,767
down €117,767 (-56.5%), from €208,586 to €90,819
- Debts after one year +€77,354
up €77,354 (+101.2%), from €76,407 to €153,761
- Current portion of long-term debt -€15,149
down €15,149 (-27.1%), from €55,963 to €40,814
- Tax, wage and social debts +€8,824
up €8,824 (+22.8%), from €38,777 to €47,602
of which Taxes: +€6,088
- Gross operating margin +€104,016
up €104,016 (+14.6%), from €714,308 to €818,324
- Staff costs +€88,847
up €88,847 (+14.8%), from €599,958 to €688,805
- Write-downs +€45,000
new in 2025: €45,000
- Depreciation -€9,640
down €9,640 (-13.7%), from €70,208 to €60,568
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 | €745,933 | €830,168 | +€84,235 | +11.3% |
| Fixed assets | 21/28 | €142,280 | €93,431 | -€48,850 | -34.3% |
| Tangible fixed assets | 22/27 | €142,280 | €93,431 | -€48,850 | -34.3% |
| Plant, machinery and equipment | 23 | €45,670 | €29,568 | -€16,102 | -35.3% |
| Furniture and vehicles | 24 | €16,198 | €8,770 | -€7,427 | -45.9% |
| Leasing and similar rights | 25 | €80,413 | €55,092 | -€25,321 | -31.5% |
| Current assets | 29/58 | €603,652 | €736,737 | +€133,085 | +22.0% |
| Stocks and contracts in progress | 3 | €386,074 | €409,948 | +€23,874 | +6.2% |
| Stocks | 30/36 | €201,594 | €248,348 | +€46,754 | +23.2% |
| Contracts in progress | 37 | €184,480 | €161,600 | -€22,880 | -12.4% |
| Amounts receivable within one year | 40/41 | €161,923 | €280,830 | +€118,907 | +73.4% |
| Trade receivables | 40 | €148,936 | €225,682 | +€76,746 | +51.5% |
| Other amounts receivable | 41 | €12,987 | €55,148 | +€42,161 | +324.6% |
| Cash at bank and in hand | 54/58 | €42,589 | €35,501 | -€7,088 | -16.6% |
| Deferred charges and accrued income | 490/1 | €13,066 | €10,458 | -€2,608 | -20.0% |
| Total equity and liabilities | 10/49 | €745,933 | €830,168 | +€84,235 | +11.3% |
| Equity | 10/15 | €170,204 | €172,220 | +€2,016 | +1.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €120,204 | €122,220 | +€2,016 | +1.7% |
| Distributable reserves | 133 | €120,204 | €122,220 | +€2,016 | +1.7% |
| Amounts payable | 17/49 | €575,729 | €657,948 | +€82,219 | +14.3% |
| Amounts payable after more than one year | 17 | €76,407 | €153,761 | +€77,354 | +101.2% |
| Financial debts | 170/4 | €76,407 | €153,761 | +€77,354 | +101.2% |
| Amounts payable within one year | 42/48 | €499,322 | €504,187 | +€4,866 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €55,963 | €40,814 | -€15,149 | -27.1% |
| Financial debts | 43 | €122,532 | €128,353 | +€5,821 | +4.8% |
| Credit institutions | 430/8 | €122,532 | €128,353 | +€5,821 | +4.8% |
| Trade debts | 44 | €73,464 | €196,600 | +€123,136 | +167.6% |
| Suppliers | 440/4 | €73,464 | €196,600 | +€123,136 | +167.6% |
| Taxes, remuneration and social security | 45 | €38,777 | €47,602 | +€8,824 | +22.8% |
| Taxes | 450/3 | €6,356 | €12,444 | +€6,088 | +95.8% |
| Remuneration and social security | 454/9 | €32,421 | €35,157 | +€2,736 | +8.4% |
| Other amounts payable | 47/48 | €208,586 | €90,819 | -€117,767 | -56.5% |
| Non-recurring operating income | 76A | - | €7,563 | +€7,563 | |
| Remuneration, social security and pensions | 62 | €599,958 | €688,805 | +€88,847 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,208 | €60,568 | -€9,640 | -13.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €45,000 | +€45,000 | |
| Other operating charges | 640/8 | €4,712 | €4,138 | -€574 | -12.2% |
| Gross operating margin | 9900 | €714,308 | €818,324 | +€104,016 | +14.6% |
| Operating profit (loss) | 9901 | €39,430 | €19,813 | -€19,617 | -49.8% |
| Financial income | 75/76B | €540 | €815 | +€275 | +51.0% |
| Recurring financial income | 75 | €540 | €815 | +€275 | +51.0% |
| Financial charges | 65/66B | €17,457 | €14,297 | -€3,160 | -18.1% |
| Recurring financial charges | 65 | €17,457 | €14,297 | -€3,160 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €22,513 | €6,330 | -€16,182 | -71.9% |
| Income taxes | 67/77 | €5,075 | €4,315 | -€761 | -15.0% |
| Profit (loss) for the period | 9904 | €17,437 | €2,016 | -€15,421 | -88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,437 | €2,016 | -€15,421 | -88.4% |
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.