SABOND: 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.
SABOND
Largest movements
- Tangible fixed assets +€27,903
up €27,903 (+60.4%), from €46,229 to €74,132
of which Furniture and vehicles: +€24,567
- Cash +€17,771
up €17,771 (+118.3%), from €15,023 to €32,794
mainly Trade debts (+€32,822) and Depreciation (+€15,022)
- Receivables within one year +€5,946
up €5,946 (+17.3%), from €34,276 to €40,222
of which Other amounts receivable: +€10,559
- Stocks and contracts +€5,479
up €5,479 (+94.7%), from €5,785 to €11,265
- Deferred charges and accrued income -€2,334
down €2,334 (-5.2%), from €44,847 to €42,514
- Trade debts +€32,822
up €32,822 (+162.5%), from €20,202 to €53,024
- Debts after one year +€10,299
up €10,299 (+130.5%), from €7,891 to €18,190
- Reserves +€8,771
up €8,771 (+10.9%), from €80,388 to €89,159
- Current portion of long-term debt +€6,269
up €6,269 (+89.9%), from €6,972 to €13,241
- Other debts -€3,410
no longer reported in 2025 (was €3,410)
- Staff costs +€8,803
up €8,803 (+17.5%), from €50,302 to €59,105
- Gross operating margin +€4,476
up €4,476 (+5.1%), from €88,145 to €92,621
- Depreciation +€3,260
up €3,260 (+27.7%), from €11,761 to €15,022
- Taxes -€2,120
down €2,120 (-28.7%), from €7,381 to €5,261
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 | €146,161 | €200,926 | +€54,765 | +37.5% |
| Fixed assets | 21/28 | €46,229 | €74,132 | +€27,903 | +60.4% |
| Tangible fixed assets | 22/27 | €46,229 | €74,132 | +€27,903 | +60.4% |
| Land and buildings | 22 | €335 | €24 | -€311 | -92.8% |
| Plant, machinery and equipment | 23 | €12,272 | €15,918 | +€3,647 | +29.7% |
| Furniture and vehicles | 24 | €33,622 | €58,189 | +€24,567 | +73.1% |
| Current assets | 29/58 | €99,932 | €126,794 | +€26,863 | +26.9% |
| Stocks and contracts in progress | 3 | €5,785 | €11,265 | +€5,479 | +94.7% |
| Stocks | 30/36 | €5,785 | €11,265 | +€5,479 | +94.7% |
| Amounts receivable within one year | 40/41 | €34,276 | €40,222 | +€5,946 | +17.3% |
| Trade receivables | 40 | €15,777 | €11,163 | -€4,613 | -29.2% |
| Other amounts receivable | 41 | €18,500 | €29,059 | +€10,559 | +57.1% |
| Cash at bank and in hand | 54/58 | €15,023 | €32,794 | +€17,771 | +118.3% |
| Deferred charges and accrued income | 490/1 | €44,847 | €42,514 | -€2,334 | -5.2% |
| Total equity and liabilities | 10/49 | €146,161 | €200,926 | +€54,765 | +37.5% |
| Equity | 10/15 | €98,988 | €107,759 | +€8,771 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €80,388 | €89,159 | +€8,771 | +10.9% |
| Distributable reserves | 133 | €80,388 | €89,159 | +€8,771 | +10.9% |
| Amounts payable | 17/49 | €47,173 | €93,167 | +€45,994 | +97.5% |
| Amounts payable after more than one year | 17 | €7,891 | €18,190 | +€10,299 | +130.5% |
| Financial debts | 170/4 | €7,891 | €18,190 | +€10,299 | +130.5% |
| Amounts payable within one year | 42/48 | €38,232 | €74,039 | +€35,808 | +93.7% |
| Current portion of amounts payable after more than one year | 42 | €6,972 | €13,241 | +€6,269 | +89.9% |
| Trade debts | 44 | €20,202 | €53,024 | +€32,822 | +162.5% |
| Suppliers | 440/4 | €20,202 | €53,024 | +€32,822 | +162.5% |
| Taxes, remuneration and social security | 45 | €7,648 | €7,774 | +€126 | +1.6% |
| Taxes | 450/3 | €1,788 | €1,101 | -€686 | -38.4% |
| Remuneration and social security | 454/9 | €5,860 | €6,673 | +€813 | +13.9% |
| Other amounts payable | 47/48 | €3,410 | - | -€3,410 | |
| Accrued charges and deferred income | 492/3 | €1,050 | €937 | -€112 | -10.7% |
| Non-recurring operating income | 76A | €3,046 | €1,600 | -€1,447 | -47.5% |
| Remuneration, social security and pensions | 62 | €50,302 | €59,105 | +€8,803 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,761 | €15,022 | +€3,260 | +27.7% |
| Other operating charges | 640/8 | €2,209 | €2,278 | +€70 | +3.1% |
| Gross operating margin | 9900 | €88,145 | €92,621 | +€4,476 | +5.1% |
| Operating profit (loss) | 9901 | €23,874 | €16,217 | -€7,657 | -32.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +700.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +700.0% |
| Financial charges | 65/66B | €2,402 | €2,185 | -€216 | -9.0% |
| Recurring financial charges | 65 | €2,402 | €2,185 | -€216 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €21,472 | €14,032 | -€7,440 | -34.7% |
| Income taxes | 67/77 | €7,381 | €5,261 | -€2,120 | -28.7% |
| Profit (loss) for the period | 9904 | €14,091 | €8,771 | -€5,321 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,091 | €8,771 | -€5,321 | -37.8% |
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 29 September 2026 via checked.be.