SADAC: 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.
SADAC
Largest movements
- Receivables within one year -€37,116
down €37,116 (-62.7%), from €59,228 to €22,112
- Cash -€14,187
down €14,187 (-47.0%), from €30,209 to €16,021
mainly Tax, wage and social debts (-€48,000) and Investment in fixed assets (net) (-€37,273)
- Tangible fixed assets +€12,885
up €12,885 (+3.1%), from €413,731 to €426,616
of which Furniture and vehicles: +€15,848
- Tax, wage and social debts -€48,000
no longer reported in 2025 (was €48,000)
- Profit (loss) carried forward +€34,513
up €34,513 (+206%), from €16,747 to €51,260
- Debts after one year -€32,080
down €32,080 (-9.8%), from €326,290 to €294,211
of which Financial debts: -€32,080
- Reserves -€6,729
down €6,729 (-28.6%), from €23,565 to €16,835
of which Tax-exempt reserves: -€6,729
- Trade debts +€6,196
up €6,196 (+21.9%), from €28,348 to €34,544
- Gross operating margin +€20,358
up €20,358 (+51.7%), from €39,395 to €59,753
- Depreciation +€3,873
up €3,873 (+18.9%), from €20,515 to €24,388
- Financial charges -€652
down €652 (-15.4%), from €4,223 to €3,572
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 | €507,672 | €464,748 | -€42,923 | -8.5% |
| Fixed assets | 21/28 | €413,731 | €426,616 | +€12,885 | +3.1% |
| Tangible fixed assets | 22/27 | €413,731 | €426,616 | +€12,885 | +3.1% |
| Land and buildings | 22 | €399,229 | €399,655 | +€426 | +0.1% |
| Plant, machinery and equipment | 23 | €14,502 | €11,113 | -€3,389 | -23.4% |
| Furniture and vehicles | 24 | - | €15,848 | +€15,848 | |
| Current assets | 29/58 | €93,941 | €38,133 | -€55,808 | -59.4% |
| Amounts receivable within one year | 40/41 | €59,228 | €22,112 | -€37,116 | -62.7% |
| Other amounts receivable | 41 | €59,228 | €22,112 | -€37,116 | -62.7% |
| Cash at bank and in hand | 54/58 | €30,209 | €16,021 | -€14,187 | -47.0% |
| Deferred charges and accrued income | 490/1 | €4,504 | - | -€4,504 | |
| Total equity and liabilities | 10/49 | €507,672 | €464,748 | -€42,923 | -8.5% |
| Equity | 10/15 | €56,535 | €84,319 | +€27,784 | +49.1% |
| Contributions | 10/11 | €16,224 | €16,224 | = | 0.0% |
| Reserves | 13 | €23,565 | €16,835 | -€6,729 | -28.6% |
| Non-distributable reserves | 130/1 | €804 | €804 | = | 0.0% |
| Other | 1319 | €804 | €804 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,760 | €16,031 | -€6,729 | -29.6% |
| Profit (loss) carried forward | 14 | €16,747 | €51,260 | +€34,513 | +206% |
| Provisions and deferred taxes | 16 | €7,587 | €5,344 | -€2,243 | -29.6% |
| Deferred taxes | 168 | €7,587 | €5,344 | -€2,243 | -29.6% |
| Amounts payable | 17/49 | €443,549 | €375,086 | -€68,464 | -15.4% |
| Amounts payable after more than one year | 17 | €326,290 | €294,211 | -€32,080 | -9.8% |
| Financial debts | 170/4 | €245,769 | €213,689 | -€32,080 | -13.1% |
| Other amounts payable | 178/9 | €80,521 | €80,521 | = | 0.0% |
| Amounts payable within one year | 42/48 | €117,259 | €80,875 | -€36,384 | -31.0% |
| Financial debts | 43 | €31,638 | €32,066 | +€428 | +1.4% |
| Credit institutions | 430/8 | €31,638 | €32,066 | +€428 | +1.4% |
| Trade debts | 44 | €28,348 | €34,544 | +€6,196 | +21.9% |
| Suppliers | 440/4 | €28,348 | €34,544 | +€6,196 | +21.9% |
| Taxes, remuneration and social security | 45 | €48,000 | - | -€48,000 | |
| Taxes | 450/3 | €48,000 | - | -€48,000 | |
| Other amounts payable | 47/48 | €9,273 | €14,265 | +€4,992 | +53.8% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,515 | €24,388 | +€3,873 | +18.9% |
| Other operating charges | 640/8 | €6,187 | €6,302 | +€115 | +1.9% |
| Non-recurring operating charges | 66A | €29,700 | - | -€29,700 | |
| Gross operating margin | 9900 | €39,395 | €59,753 | +€20,358 | +51.7% |
| Operating profit (loss) | 9901 | -€17,008 | €29,064 | +€46,071 | |
| Financial income | 75/76B | €125 | €149 | +€23 | +18.7% |
| Recurring financial income | 75 | €125 | €149 | +€23 | +18.7% |
| Financial charges | 65/66B | €4,223 | €3,572 | -€652 | -15.4% |
| Recurring financial charges | 65 | €4,223 | €3,572 | -€652 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€21,106 | €25,641 | +€46,747 | |
| Transfer from deferred taxes | 780 | €2,243 | €2,243 | = | 0.0% |
| Income taxes | 67/77 | - | €100 | +€100 | |
| Profit (loss) for the period | 9904 | -€18,863 | €27,784 | +€46,647 | |
| Transfer from tax-exempt reserves | 789 | €6,729 | €6,729 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,133 | €34,513 | +€46,647 |
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 16 October 2026 via checked.be.