SABU: 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.
SABU
Largest movements
- Receivables within one year -€159,839
down €159,839 (-89.1%), from €179,462 to €19,623
- Tangible fixed assets +€85,665
up €85,665 (+16.0%), from €533,998 to €619,663
of which Plant, machinery and equipment: +€59,336
- Cash +€84,843
up €84,843 (+39.8%), from €213,140 to €297,983
mainly Net result for the year (+€191,764) and Receivables within one year (+€159,839)
- Reserves +€191,763
up €191,763 (+4455.5%), from €4,304 to €196,067
of which Distributable reserves: +€193,197
- Other debts -€177,712
down €177,712 (-77.1%), from €230,530 to €52,818
- Trade debts -€74,726
down €74,726 (-94.9%), from €78,713 to €3,987
- Debts after one year +€46,315
up €46,315 (+16.5%), from €279,984 to €326,299
- Advances received +€10,762
new in 2025: €10,762
- Gross operating margin -€145,314
down €145,314 (-26.0%), from €559,009 to €413,695
- Staff costs -€49,537
down €49,537 (-39.7%), from €124,747 to €75,210
- Taxes +€23,862
up €23,862 (+84.4%), from €28,285 to €52,147
- Depreciation -€20,682
down €20,682 (-24.1%), from €85,917 to €65,235
- Other operating charges -€7,691
down €7,691 (-54.0%), from €14,249 to €6,558
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 | €928,860 | €938,019 | +€9,159 | +1.0% |
| Fixed assets | 21/28 | €534,748 | €620,413 | +€85,665 | +16.0% |
| Tangible fixed assets | 22/27 | €533,998 | €619,663 | +€85,665 | +16.0% |
| Land and buildings | 22 | €494,705 | €523,189 | +€28,484 | +5.8% |
| Plant, machinery and equipment | 23 | €34,491 | €93,827 | +€59,336 | +172.0% |
| Furniture and vehicles | 24 | €4,802 | €2,647 | -€2,155 | -44.9% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €394,112 | €317,606 | -€76,506 | -19.4% |
| Amounts receivable within one year | 40/41 | €179,462 | €19,623 | -€159,839 | -89.1% |
| Other amounts receivable | 41 | €179,462 | €19,623 | -€159,839 | -89.1% |
| Cash at bank and in hand | 54/58 | €213,140 | €297,983 | +€84,843 | +39.8% |
| Deferred charges and accrued income | 490/1 | €1,511 | €0 | -€1,511 | -100.0% |
| Total equity and liabilities | 10/49 | €928,860 | €938,019 | +€9,159 | +1.0% |
| Equity | 10/15 | €310,013 | €501,776 | +€191,763 | +61.9% |
| Contributions | 10/11 | €14,341 | €14,341 | -€0 | 0.0% |
| Reserves | 13 | €4,304 | €196,067 | +€191,763 | +4455.5% |
| Non-distributable reserves | 130/1 | €1,434 | €0 | -€1,434 | -100.0% |
| Reserves not available under the articles | 1311 | €1,434 | €0 | -€1,434 | -100.0% |
| Distributable reserves | 133 | €2,870 | €196,067 | +€193,197 | +6731.6% |
| Profit (loss) carried forward | 14 | €291,369 | €291,369 | -€0 | 0.0% |
| Amounts payable | 17/49 | €618,847 | €436,243 | -€182,604 | -29.5% |
| Amounts payable after more than one year | 17 | €279,984 | €326,299 | +€46,315 | +16.5% |
| Financial debts | 170/4 | €279,984 | €326,299 | +€46,315 | +16.5% |
| Amounts payable within one year | 42/48 | €338,863 | €109,944 | -€228,919 | -67.6% |
| Current portion of amounts payable after more than one year | 42 | €29,611 | €38,033 | +€8,422 | +28.4% |
| Trade debts | 44 | €78,713 | €3,987 | -€74,726 | -94.9% |
| Suppliers | 440/4 | €78,713 | €3,987 | -€74,726 | -94.9% |
| Advances received on contracts in progress | 46 | - | €10,762 | +€10,762 | |
| Taxes, remuneration and social security | 45 | €9 | €4,344 | +€4,335 | +48170.4% |
| Taxes | 450/3 | €9 | €9 | -€0 | -4.0% |
| Remuneration and social security | 454/9 | €0 | €4,336 | +€4,336 | |
| Other amounts payable | 47/48 | €230,530 | €52,818 | -€177,712 | -77.1% |
| Non-recurring operating income | 76A | €33,128 | - | -€33,128 | |
| Remuneration, social security and pensions | 62 | €124,747 | €75,210 | -€49,537 | -39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,917 | €65,235 | -€20,682 | -24.1% |
| Other operating charges | 640/8 | €14,249 | €6,558 | -€7,691 | -54.0% |
| Gross operating margin | 9900 | €559,009 | €413,695 | -€145,314 | -26.0% |
| Operating profit (loss) | 9901 | €334,097 | €266,692 | -€67,405 | -20.2% |
| Financial income | 75/76B | €1 | €9 | +€8 | +775.0% |
| Recurring financial income | 75 | €1 | €9 | +€8 | +775.0% |
| Financial charges | 65/66B | €19,913 | €22,790 | +€2,877 | +14.4% |
| Recurring financial charges | 65 | €19,913 | €22,790 | +€2,877 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €314,184 | €243,910 | -€70,274 | -22.4% |
| Income taxes | 67/77 | €28,285 | €52,147 | +€23,862 | +84.4% |
| Profit (loss) for the period | 9904 | €285,899 | €191,764 | -€94,135 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €285,899 | €191,764 | -€94,135 | -32.9% |
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 6 October 2026 via checked.be.