SACODEL: 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.
SACODEL
Largest movements
- Cash -€28,233
down €28,233 (-96.2%), from €29,353 to €1,121
mainly Net result for the year (-€30,765) and Trade debts (-€10,676)
- Stocks and contracts -€20,317
no longer reported in 2025 (was €20,317)
- Receivables within one year +€7,562
up €7,562 (+59.5%), from €12,712 to €20,274
of which Other amounts receivable: +€8,675
- Deferred charges and accrued income -€5,092
down €5,092 (-82.7%), from €6,156 to €1,064
- Profit (loss) carried forward -€30,765
down €30,765 (-323.6%), from -€9,506 to -€40,271
- Trade debts -€10,676
down €10,676 (-99.5%), from €10,729 to €53
- Tax, wage and social debts -€5,291
no longer reported in 2025 (was €5,291)
- Gross operating margin -€30,561
down €30,561, from €1,594 to -€28,967
- Other operating charges +€588
up €588 (+123.4%), from €476 to €1,064
- Financial charges -€470
down €470 (-72.2%), from €651 to €181
- Taxes -€291
no longer reported in 2025 (was €291)
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 | €69,190 | €22,458 | -€46,732 | -67.5% |
| Fixed assets | 21/28 | €651 | - | -€651 | |
| Tangible fixed assets | 22/27 | €290 | - | -€290 | |
| Furniture and vehicles | 24 | €290 | - | -€290 | |
| Financial fixed assets | 28 | €362 | - | -€362 | |
| Current assets | 29/58 | €68,539 | €22,458 | -€46,080 | -67.2% |
| Stocks and contracts in progress | 3 | €20,317 | - | -€20,317 | |
| Stocks | 30/36 | €20,317 | - | -€20,317 | |
| Amounts receivable within one year | 40/41 | €12,712 | €20,274 | +€7,562 | +59.5% |
| Trade receivables | 40 | €4,463 | €3,349 | -€1,114 | -25.0% |
| Other amounts receivable | 41 | €8,250 | €16,925 | +€8,675 | +105.2% |
| Cash at bank and in hand | 54/58 | €29,353 | €1,121 | -€28,233 | -96.2% |
| Deferred charges and accrued income | 490/1 | €6,156 | €1,064 | -€5,092 | -82.7% |
| Total equity and liabilities | 10/49 | €69,190 | €22,458 | -€46,732 | -67.5% |
| Equity | 10/15 | €53,171 | €22,405 | -€30,765 | -57.9% |
| Contributions | 10/11 | €62,221 | €62,221 | = | 0.0% |
| Capital | 10 | €62,221 | €62,221 | = | 0.0% |
| Issued capital | 100 | €62,221 | €62,221 | = | 0.0% |
| Reserves | 13 | €455 | €455 | = | 0.0% |
| Non-distributable reserves | 130/1 | €455 | €455 | = | 0.0% |
| Legal reserve | 130 | €455 | €455 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,506 | -€40,271 | -€30,765 | -323.6% |
| Amounts payable | 17/49 | €16,019 | €53 | -€15,967 | -99.7% |
| Amounts payable within one year | 42/48 | €16,019 | €53 | -€15,967 | -99.7% |
| Trade debts | 44 | €10,729 | €53 | -€10,676 | -99.5% |
| Suppliers | 440/4 | €10,729 | €53 | -€10,676 | -99.5% |
| Taxes, remuneration and social security | 45 | €5,291 | - | -€5,291 | |
| Taxes | 450/3 | €5,291 | - | -€5,291 | |
| Non-recurring operating income | 76A | - | €145 | +€145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292 | €195 | -€97 | -33.3% |
| Other operating charges | 640/8 | €476 | €1,064 | +€588 | +123.4% |
| Non-recurring operating charges | 66A | - | €362 | +€362 | |
| Gross operating margin | 9900 | €1,594 | -€28,967 | -€30,561 | |
| Operating profit (loss) | 9901 | €826 | -€30,587 | -€31,413 | |
| Financial income | 75/76B | €1 | €3 | +€2 | +310.3% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +310.3% |
| Financial charges | 65/66B | €651 | €181 | -€470 | -72.2% |
| Recurring financial charges | 65 | €651 | €181 | -€470 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €176 | -€30,765 | -€30,941 | |
| Income taxes | 67/77 | €291 | - | -€291 | |
| Profit (loss) for the period | 9904 | -€115 | -€30,765 | -€30,650 | -26612.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€115 | -€30,765 | -€30,650 | -26612.8% |
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 6 October 2026 via checked.be.