SACHEL: 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.
SACHEL
Largest movements
- Tangible fixed assets -€5,745
down €5,745 (-1.1%), from €546,917 to €541,172
of which Land and buildings: -€5,388
- Debts after one year -€38,586
down €38,586 (-14.6%), from €264,752 to €226,167
of which Financial debts: -€38,586
- Other debts +€36,374
up €36,374 (+661.3%), from €5,500 to €41,874
- Reserves +€28,766
up €28,766 (+15.1%), from €189,945 to €218,712
- Current portion of long-term debt -€21,291
down €21,291 (-35.6%), from €59,877 to €38,586
- Short-term financial debts -€13,000
no longer reported in 2025 (was €13,000)
- Gross operating margin -€4,203
down €4,203 (-5.4%), from €78,490 to €74,287
- Financial charges -€2,618
down €2,618 (-20.0%), from €13,113 to €10,495
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 | €553,448 | €546,003 | -€7,444 | -1.3% |
| Fixed assets | 21/28 | €546,917 | €541,172 | -€5,745 | -1.1% |
| Tangible fixed assets | 22/27 | €546,917 | €541,172 | -€5,745 | -1.1% |
| Land and buildings | 22 | €542,860 | €537,472 | -€5,388 | -1.0% |
| Plant, machinery and equipment | 23 | €1,798 | €2,967 | +€1,168 | +65.0% |
| Furniture and vehicles | 24 | €2,258 | €733 | -€1,525 | -67.5% |
| Current assets | 29/58 | €6,531 | €4,832 | -€1,699 | -26.0% |
| Amounts receivable within one year | 40/41 | €2,949 | €160 | -€2,790 | -94.6% |
| Other amounts receivable | 41 | €2,949 | €160 | -€2,790 | -94.6% |
| Cash at bank and in hand | 54/58 | €1,629 | €2,700 | +€1,071 | +65.8% |
| Deferred charges and accrued income | 490/1 | €1,953 | €1,972 | +€20 | +1.0% |
| Total equity and liabilities | 10/49 | €553,448 | €546,003 | -€7,444 | -1.3% |
| Equity | 10/15 | €208,545 | €237,312 | +€28,766 | +13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,945 | €218,712 | +€28,766 | +15.1% |
| Distributable reserves | 133 | €189,945 | €218,712 | +€28,766 | +15.1% |
| Amounts payable | 17/49 | €344,902 | €308,692 | -€36,211 | -10.5% |
| Amounts payable after more than one year | 17 | €264,752 | €226,167 | -€38,586 | -14.6% |
| Financial debts | 170/4 | €214,752 | €176,167 | -€38,586 | -18.0% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,150 | €82,525 | +€2,375 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €59,877 | €38,586 | -€21,291 | -35.6% |
| Financial debts | 43 | €13,000 | - | -€13,000 | |
| Credit institutions | 430/8 | €13,000 | - | -€13,000 | |
| Trade debts | 44 | €1,773 | €2,065 | +€292 | +16.5% |
| Suppliers | 440/4 | €1,773 | €2,065 | +€292 | +16.5% |
| Other amounts payable | 47/48 | €5,500 | €41,874 | +€36,374 | +661.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,829 | €20,790 | -€39 | -0.2% |
| Other operating charges | 640/8 | €3,287 | €3,395 | +€109 | +3.3% |
| Gross operating margin | 9900 | €78,490 | €74,287 | -€4,203 | -5.4% |
| Operating profit (loss) | 9901 | €54,374 | €50,102 | -€4,273 | -7.9% |
| Financial charges | 65/66B | €13,113 | €10,495 | -€2,618 | -20.0% |
| Recurring financial charges | 65 | €13,113 | €10,495 | -€2,618 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €41,261 | €39,607 | -€1,654 | -4.0% |
| Income taxes | 67/77 | €11,253 | €10,840 | -€413 | -3.7% |
| Profit (loss) for the period | 9904 | €30,008 | €28,766 | -€1,242 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,008 | €28,766 | -€1,242 | -4.1% |
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 9 October 2026 via checked.be.