SADEBO: 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.
SADEBO
Largest movements
- Receivables within one year +€26,362
up €26,362 (+15.5%), from €170,276 to €196,638
of which Other amounts receivable: +€19,229
- Cash +€20,497
new in 2025: €20,497
mainly Net result for the year (+€37,169) and Current investments (+€16,973)
- Current investments -€16,973
no longer reported in 2025 (was €16,973)
- Intangible fixed assets -€8,500
down €8,500 (-20.4%), from €41,721 to €33,221
- Tangible fixed assets -€3,490
down €3,490 (-32.9%), from €10,595 to €7,105
- Debts after one year -€21,145
down €21,145 (-48.5%), from €43,579 to €22,434
- Reserves +€18,793
up €18,793 (+217%), from €8,664 to €27,457
- Profit (loss) carried forward +€18,376
up €18,376, from -€18,376 to €0
- Accrued charges and deferred income -€9,767
down €9,767 (-99.7%), from €9,792 to €25
- Trade debts +€8,130
up €8,130 (+7,629%), from €107 to €8,237
- Gross operating margin +€39,720
up €39,720 (+25.5%), from €155,879 to €195,599
- Staff costs +€21,328
up €21,328 (+24.3%), from €87,639 to €108,967
- Taxes +€11,395
up €11,395 (+917%), from €1,242 to €12,637
- Other operating charges +€2,995
up €2,995 (+178%), from €1,681 to €4,675
- Financial charges +€2,562
up €2,562 (+14.6%), from €17,599 to €20,160
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 | €239,671 | €257,461 | +€17,790 | +7.4% |
| Fixed assets | 21/28 | €52,316 | €40,326 | -€11,990 | -22.9% |
| Intangible fixed assets | 21 | €41,721 | €33,221 | -€8,500 | -20.4% |
| Tangible fixed assets | 22/27 | €10,595 | €7,105 | -€3,490 | -32.9% |
| Plant, machinery and equipment | 23 | €10,595 | €7,105 | -€3,490 | -32.9% |
| Current assets | 29/58 | €187,355 | €217,135 | +€29,780 | +15.9% |
| Amounts receivable within one year | 40/41 | €170,276 | €196,638 | +€26,362 | +15.5% |
| Trade receivables | 40 | €131,751 | €138,885 | +€7,133 | +5.4% |
| Other amounts receivable | 41 | €38,525 | €57,753 | +€19,229 | +49.9% |
| Current investments | 50/53 | €16,973 | - | -€16,973 | |
| Cash at bank and in hand | 54/58 | - | €20,497 | +€20,497 | |
| Deferred charges and accrued income | 490/1 | €107 | €0 | -€107 | -100% |
| Total equity and liabilities | 10/49 | €239,671 | €257,461 | +€17,790 | +7.4% |
| Equity | 10/15 | €80,288 | €117,457 | +€37,169 | +46.3% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €8,664 | €27,457 | +€18,793 | +217% |
| Distributable reserves | 133 | €8,664 | €27,457 | +€18,793 | +217% |
| Profit (loss) carried forward | 14 | -€18,376 | €0 | +€18,376 | |
| Amounts payable | 17/49 | €159,383 | €140,004 | -€19,379 | -12.2% |
| Amounts payable after more than one year | 17 | €43,579 | €22,434 | -€21,145 | -48.5% |
| Financial debts | 170/4 | €43,579 | €22,434 | -€21,145 | -48.5% |
| Amounts payable within one year | 42/48 | €106,013 | €117,545 | +€11,533 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €16,722 | €21,145 | +€4,423 | +26.5% |
| Financial debts | 43 | €43,184 | €42,251 | -€934 | -2.2% |
| Credit institutions | 430/8 | €43,184 | €42,251 | -€934 | -2.2% |
| Trade debts | 44 | €107 | €8,237 | +€8,130 | +7,629% |
| Suppliers | 440/4 | €107 | €8,237 | +€8,130 | +7,629% |
| Taxes, remuneration and social security | 45 | €46,000 | €45,913 | -€87 | -0.2% |
| Taxes | 450/3 | €46,000 | €34,130 | -€11,870 | -25.8% |
| Remuneration and social security | 454/9 | €0 | €11,783 | +€11,783 | |
| Accrued charges and deferred income | 492/3 | €9,792 | €25 | -€9,767 | -99.7% |
| Remuneration, social security and pensions | 62 | €87,639 | €108,967 | +€21,328 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,417 | €11,990 | -€427 | -3.4% |
| Other operating charges | 640/8 | €1,681 | €4,675 | +€2,995 | +178% |
| Gross operating margin | 9900 | €155,879 | €195,599 | +€39,720 | +25.5% |
| Operating profit (loss) | 9901 | €54,142 | €69,966 | +€15,824 | +29.2% |
| Financial income | 75/76B | €27 | €0 | -€27 | -100% |
| Recurring financial income | 75 | €27 | €0 | -€27 | -100% |
| Financial charges | 65/66B | €17,599 | €20,160 | +€2,562 | +14.6% |
| Recurring financial charges | 65 | €17,599 | €20,160 | +€2,562 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €36,571 | €49,806 | +€13,235 | +36.2% |
| Income taxes | 67/77 | €1,242 | €12,637 | +€11,395 | +917% |
| Profit (loss) for the period | 9904 | €35,328 | €37,169 | +€1,841 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,328 | €37,169 | +€1,841 | +5.2% |
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 31 October 2026 via checked.be.