Sabo: 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.
Sabo
Largest movements
- Cash +€32,084
up €32,084 (+171.9%), from €18,660 to €50,744
mainly Tax, wage and social debts (+€56,979) and Depreciation (+€18,139)
- Tangible fixed assets -€17,031
down €17,031 (-22.4%), from €75,873 to €58,842
of which Other tangible fixed assets: -€12,287
- Financial fixed assets +€7,419
up €7,419 (+57.2%), from €12,960 to €20,379
- Stocks and contracts +€1,713
up €1,713 (+15.2%), from €11,277 to €12,991
- Tax, wage and social debts +€56,979
up €56,979 (+86.9%), from €65,579 to €122,558
of which Remuneration and social security: +€32,775
- Profit (loss) carried forward -€35,690
down €35,690 (-38.4%), from -€92,837 to -€128,527
- Trade debts +€10,785
up €10,785 (+109.5%), from €9,847 to €20,632
- Debts after one year -€5,286
down €5,286 (-7.0%), from €75,286 to €70,000
- Current portion of long-term debt -€3,285
down €3,285 (-38.3%), from €8,570 to €5,286
- Staff costs +€73,001
up €73,001 (+14.6%), from €499,571 to €572,572
- Gross operating margin +€45,731
up €45,731 (+8.7%), from €525,648 to €571,379
- Other operating charges -€8,035
down €8,035 (-62.6%), from €12,825 to €4,791
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 | €120,496 | €144,622 | +€24,126 | +20.0% |
| Fixed assets | 21/28 | €88,833 | €79,221 | -€9,612 | -10.8% |
| Tangible fixed assets | 22/27 | €75,873 | €58,842 | -€17,031 | -22.4% |
| Plant, machinery and equipment | 23 | €9,193 | €4,275 | -€4,918 | -53.5% |
| Furniture and vehicles | 24 | €2,342 | €2,516 | +€174 | +7.4% |
| Other tangible fixed assets | 26 | €64,339 | €52,052 | -€12,287 | -19.1% |
| Financial fixed assets | 28 | €12,960 | €20,379 | +€7,419 | +57.2% |
| Current assets | 29/58 | €31,662 | €65,401 | +€33,738 | +106.6% |
| Stocks and contracts in progress | 3 | €11,277 | €12,991 | +€1,713 | +15.2% |
| Stocks | 30/36 | €11,277 | €12,991 | +€1,713 | +15.2% |
| Amounts receivable within one year | 40/41 | €250 | €191 | -€59 | -23.6% |
| Trade receivables | 40 | €250 | €136 | -€114 | -45.7% |
| Other amounts receivable | 41 | - | €55 | +€55 | |
| Cash at bank and in hand | 54/58 | €18,660 | €50,744 | +€32,084 | +171.9% |
| Deferred charges and accrued income | 490/1 | €1,475 | €1,475 | = | 0.0% |
| Total equity and liabilities | 10/49 | €120,496 | €144,622 | +€24,126 | +20.0% |
| Equity | 10/15 | -€65,037 | -€100,727 | -€35,690 | -54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,200 | €9,200 | = | 0.0% |
| Distributable reserves | 133 | €9,200 | €9,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,837 | -€128,527 | -€35,690 | -38.4% |
| Amounts payable | 17/49 | €185,532 | €245,349 | +€59,816 | +32.2% |
| Amounts payable after more than one year | 17 | €75,286 | €70,000 | -€5,286 | -7.0% |
| Financial debts | 170/4 | €75,286 | €70,000 | -€5,286 | -7.0% |
| Amounts payable within one year | 42/48 | €110,247 | €175,349 | +€65,102 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €8,570 | €5,286 | -€3,285 | -38.3% |
| Trade debts | 44 | €9,847 | €20,632 | +€10,785 | +109.5% |
| Suppliers | 440/4 | €9,847 | €20,632 | +€10,785 | +109.5% |
| Advances received on contracts in progress | 46 | €358 | €343 | -€16 | -4.4% |
| Taxes, remuneration and social security | 45 | €65,579 | €122,558 | +€56,979 | +86.9% |
| Taxes | 450/3 | €3,195 | €27,400 | +€24,204 | +757.5% |
| Remuneration and social security | 454/9 | €62,384 | €95,158 | +€32,775 | +52.5% |
| Other amounts payable | 47/48 | €25,892 | €26,531 | +€639 | +2.5% |
| Remuneration, social security and pensions | 62 | €499,571 | €572,572 | +€73,001 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,862 | €18,139 | +€277 | +1.5% |
| Other operating charges | 640/8 | €12,825 | €4,791 | -€8,035 | -62.6% |
| Gross operating margin | 9900 | €525,648 | €571,379 | +€45,731 | +8.7% |
| Operating profit (loss) | 9901 | -€4,610 | -€24,122 | -€19,512 | -423.3% |
| Financial income | 75/76B | €809 | €258 | -€551 | -68.2% |
| Recurring financial income | 75 | €809 | €258 | -€551 | -68.2% |
| Financial charges | 65/66B | €12,920 | €11,261 | -€1,659 | -12.8% |
| Recurring financial charges | 65 | €12,920 | €11,261 | -€1,659 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,721 | -€35,126 | -€18,405 | -110.1% |
| Income taxes | 67/77 | €478 | €564 | +€86 | +18.0% |
| Profit (loss) for the period | 9904 | -€17,199 | -€35,690 | -€18,491 | -107.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,199 | -€35,690 | -€18,491 | -107.5% |
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.