SABOT D'OR: 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.
SABOT D'OR
Largest movements
- Tangible fixed assets +€100,616
up €100,616 (+6.1%), from €1.6m to €1.7m
of which Other tangible fixed assets: +€111,619
- Receivables within one year +€66,465
up €66,465 (+126%), from €52,821 to €119,287
- Cash -€57,686
down €57,686 (-13.7%), from €421,049 to €363,363
mainly Investment in fixed assets (net) (-€243,915) and Other debts (-€98,091)
- Reserves +€299,286
up €299,286 (+31.3%), from €956,338 to €1.3m
- Other debts -€98,091
down €98,091 (-99.4%), from €98,724 to €633
- Debts after one year -€75,797
down €75,797 (-9.0%), from €839,511 to €763,714
- Gross operating margin +€179,911
up €179,911 (+22.5%), from €797,840 to €977,750
- Other operating charges -€129,691
down €129,691 (-75.3%), from €172,334 to €42,643
- Depreciation +€66,476
up €66,476 (+86.5%), from €76,823 to €143,299
- Taxes +€63,016
up €63,016 (+96.1%), from €65,590 to €128,606
- Staff costs +€13,900
up €13,900 (+4.3%), from €326,655 to €340,555
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.
Derived cash bridge
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 | €2,154,255 | €2,264,825 | +€110,570 | +5.1% |
| Fixed assets | 21/28 | €1,640,411 | €1,741,027 | +€100,616 | +6.1% |
| Tangible fixed assets | 22/27 | €1,640,411 | €1,741,027 | +€100,616 | +6.1% |
| Land and buildings | 22 | €1,143,177 | €1,085,776 | -€57,401 | -5.0% |
| Plant, machinery and equipment | 23 | €22,439 | €47,790 | +€25,351 | +113% |
| Furniture and vehicles | 24 | €836 | €21,883 | +€21,047 | +2,518% |
| Other tangible fixed assets | 26 | €473,959 | €585,578 | +€111,619 | +23.6% |
| Current assets | 29/58 | €513,844 | €523,798 | +€9,954 | +1.9% |
| Stocks and contracts in progress | 3 | €7,796 | €7,382 | -€414 | -5.3% |
| Stocks | 30/36 | €7,796 | €7,382 | -€414 | -5.3% |
| Amounts receivable within one year | 40/41 | €52,821 | €119,287 | +€66,465 | +126% |
| Other amounts receivable | 41 | €52,821 | €119,287 | +€66,465 | +126% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €421,049 | €363,363 | -€57,686 | -13.7% |
| Deferred charges and accrued income | 490/1 | €32,177 | €33,766 | +€1,590 | +4.9% |
| Total equity and liabilities | 10/49 | €2,154,255 | €2,264,825 | +€110,570 | +5.1% |
| Equity | 10/15 | €1,023,510 | €1,322,797 | +€299,286 | +29.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €956,338 | €1,255,624 | +€299,286 | +31.3% |
| Distributable reserves | 133 | €956,338 | €1,255,624 | +€299,286 | +31.3% |
| Profit (loss) carried forward | 14 | €5,173 | €5,173 | = | 0.0% |
| Amounts payable | 17/49 | €1,130,745 | €942,029 | -€188,716 | -16.7% |
| Amounts payable after more than one year | 17 | €839,511 | €763,714 | -€75,797 | -9.0% |
| Financial debts | 170/4 | €839,511 | €763,714 | -€75,797 | -9.0% |
| Amounts payable within one year | 42/48 | €274,820 | €168,970 | -€105,850 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €73,377 | €75,797 | +€2,420 | +3.3% |
| Trade debts | 44 | €48,061 | €31,037 | -€17,023 | -35.4% |
| Suppliers | 440/4 | €48,061 | €31,037 | -€17,023 | -35.4% |
| Advances received on contracts in progress | 46 | €16,933 | €13,862 | -€3,071 | -18.1% |
| Taxes, remuneration and social security | 45 | €37,726 | €47,642 | +€9,915 | +26.3% |
| Taxes | 450/3 | €3,737 | €12,383 | +€8,646 | +231% |
| Remuneration and social security | 454/9 | €33,989 | €35,259 | +€1,270 | +3.7% |
| Other amounts payable | 47/48 | €98,724 | €633 | -€98,091 | -99.4% |
| Accrued charges and deferred income | 492/3 | €16,414 | €9,345 | -€7,069 | -43.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €326,655 | €340,555 | +€13,900 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,823 | €143,299 | +€66,476 | +86.5% |
| Other operating charges | 640/8 | €172,334 | €42,643 | -€129,691 | -75.3% |
| Gross operating margin | 9900 | €797,840 | €977,750 | +€179,911 | +22.5% |
| Operating profit (loss) | 9901 | €222,028 | €451,254 | +€229,226 | +103% |
| Financial income | 75/76B | €9,568 | €3,950 | -€5,618 | -58.7% |
| Recurring financial income | 75 | €9,568 | €3,950 | -€5,618 | -58.7% |
| Financial charges | 65/66B | €13,633 | €27,312 | +€13,678 | +100% |
| Recurring financial charges | 65 | €13,633 | €27,312 | +€13,678 | +100% |
| Profit (loss) for the period before taxes | 9903 | €217,962 | €427,892 | +€209,930 | +96.3% |
| Income taxes | 67/77 | €65,590 | €128,606 | +€63,016 | +96.1% |
| Profit (loss) for the period | 9904 | €152,372 | €299,286 | +€146,914 | +96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €152,372 | €299,286 | +€146,914 | +96.4% |
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 25 October 2026 via checked.be.