SADe: 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.
SADe
Largest movements
- Receivables within one year +€31,327
up €31,327 (+291%), from €10,781 to €42,108
- Deferred charges and accrued income -€27,515
no longer reported in 2025 (was €27,515)
- Cash +€14,414
new in 2025: €14,414
mainly Deferred charges and accrued income (+€27,515) and Other debts (+€18,761)
- Other debts +€18,761
up €18,761 (+1,162%), from €1,615 to €20,376
- Trade debts -€10,890
down €10,890 (-95.4%), from €11,417 to €526
- Profit (loss) carried forward +€10,451
up €10,451 (+35.3%), from -€29,632 to -€19,181
- Gross operating margin +€6,926
up €6,926 (+115%), from €5,998 to €12,924
- Taxes +€1,539
up €1,539 (+64.6%), from €2,382 to €3,921
- Other operating charges -€1,414
down €1,414 (-67.8%), from €2,085 to €672
- Financial income -€190
down €190 (-7.7%), from €2,475 to €2,285
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 | €38,954 | €57,016 | +€18,062 | +46.4% |
| Fixed assets | 21/28 | €657 | €493 | -€164 | -25.0% |
| Tangible fixed assets | 22/27 | €657 | €493 | -€164 | -25.0% |
| Furniture and vehicles | 24 | €657 | €493 | -€164 | -25.0% |
| Current assets | 29/58 | €38,296 | €56,522 | +€18,226 | +47.6% |
| Amounts receivable within one year | 40/41 | €10,781 | €42,108 | +€31,327 | +291% |
| Trade receivables | 40 | €10,781 | €42,108 | +€31,327 | +291% |
| Cash at bank and in hand | 54/58 | - | €14,414 | +€14,414 | |
| Deferred charges and accrued income | 490/1 | €27,515 | - | -€27,515 | |
| Total equity and liabilities | 10/49 | €38,954 | €57,016 | +€18,062 | +46.4% |
| Equity | 10/15 | €15,561 | €26,012 | +€10,451 | +67.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,593 | €26,593 | = | 0.0% |
| Distributable reserves | 133 | €26,593 | €26,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,632 | -€19,181 | +€10,451 | +35.3% |
| Amounts payable | 17/49 | €23,393 | €31,004 | +€7,611 | +32.5% |
| Amounts payable within one year | 42/48 | €23,393 | €31,004 | +€7,611 | +32.5% |
| Financial debts | 43 | €1,000 | €1,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000 | €1,000 | = | 0.0% |
| Trade debts | 44 | €11,417 | €526 | -€10,890 | -95.4% |
| Suppliers | 440/4 | €11,417 | €526 | -€10,890 | -95.4% |
| Taxes, remuneration and social security | 45 | €9,361 | €9,102 | -€260 | -2.8% |
| Taxes | 450/3 | €9,361 | €9,102 | -€260 | -2.8% |
| Other amounts payable | 47/48 | €1,615 | €20,376 | +€18,761 | +1,162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164 | €164 | = | 0.0% |
| Other operating charges | 640/8 | €2,085 | €672 | -€1,414 | -67.8% |
| Gross operating margin | 9900 | €5,998 | €12,924 | +€6,926 | +115% |
| Operating profit (loss) | 9901 | €3,748 | €12,088 | +€8,340 | +223% |
| Financial income | 75/76B | €2,475 | €2,285 | -€190 | -7.7% |
| Recurring financial income | 75 | €2,475 | €2,285 | -€190 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €6,223 | €14,372 | +€8,150 | +131% |
| Income taxes | 67/77 | €2,382 | €3,921 | +€1,539 | +64.6% |
| Profit (loss) for the period | 9904 | €3,841 | €10,451 | +€6,610 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €3,841 | €10,451 | +€6,610 | +172% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.