SADECAU: 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.
SADECAU
Largest movements
- Receivables within one year +€82,300
up €82,300 (+75.0%), from €109,723 to €192,023
of which Trade receivables: +€77,381
- Cash +€15,690
up €15,690 (+96.1%), from €16,329 to €32,019
mainly Accrued charges and deferred income (+€92,760) and Net result for the year (+€48,536)
- Deferred charges and accrued income +€6,209
up €6,209 (+7,065%), from €88 to €6,297
- Tangible fixed assets +€3,434
up €3,434 (+294%), from €1,170 to €4,604
of which Furniture and vehicles: +€4,131
- Accrued charges and deferred income +€92,760
new in 2025: €92,760
- Profit (loss) carried forward +€48,536
up €48,536, from -€12,622 to €35,914
- Trade debts -€34,164
down €34,164 (-23.0%), from €148,366 to €114,202
- Gross operating margin +€76,632
up €76,632, from -€11,201 to €65,432
- Taxes +€12,575
new in 2025: €12,575
- Financial income +€1,704
up €1,704 (+913%), from €187 to €1,891
- Financial charges +€1,555
up €1,555 (+591%), from €263 to €1,819
- Staff costs +€1,465
new in 2025: €1,465
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 | €158,300 | €265,933 | +€107,633 | +68.0% |
| Fixed assets | 21/28 | €1,170 | €4,604 | +€3,434 | +294% |
| Tangible fixed assets | 22/27 | €1,170 | €4,604 | +€3,434 | +294% |
| Plant, machinery and equipment | 23 | €1,170 | €473 | -€696 | -59.5% |
| Furniture and vehicles | 24 | - | €4,131 | +€4,131 | |
| Current assets | 29/58 | €157,130 | €261,329 | +€104,199 | +66.3% |
| Stocks and contracts in progress | 3 | €30,991 | €30,991 | = | 0.0% |
| Stocks | 30/36 | €30,991 | €30,991 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €109,723 | €192,023 | +€82,300 | +75.0% |
| Trade receivables | 40 | €95,021 | €172,402 | +€77,381 | +81.4% |
| Other amounts receivable | 41 | €14,702 | €19,621 | +€4,919 | +33.5% |
| Cash at bank and in hand | 54/58 | €16,329 | €32,019 | +€15,690 | +96.1% |
| Deferred charges and accrued income | 490/1 | €88 | €6,297 | +€6,209 | +7,065% |
| Total equity and liabilities | 10/49 | €158,300 | €265,933 | +€107,633 | +68.0% |
| Equity | 10/15 | €3,168 | €51,704 | +€48,536 | +1,532% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €11,790 | €11,790 | = | 0.0% |
| Distributable reserves | 133 | €11,790 | €11,790 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,622 | €35,914 | +€48,536 | |
| Amounts payable | 17/49 | €155,132 | €214,229 | +€59,098 | +38.1% |
| Amounts payable within one year | 42/48 | €155,132 | €121,470 | -€33,662 | -21.7% |
| Trade debts | 44 | €148,366 | €114,202 | -€34,164 | -23.0% |
| Suppliers | 440/4 | €148,366 | €114,202 | -€34,164 | -23.0% |
| Taxes, remuneration and social security | 45 | €5,138 | €5,137 | -€2 | 0.0% |
| Taxes | 450/3 | €5,138 | €4,573 | -€565 | -11.0% |
| Remuneration and social security | 454/9 | - | €563 | +€563 | |
| Other amounts payable | 47/48 | €1,627 | €2,131 | +€503 | +30.9% |
| Accrued charges and deferred income | 492/3 | - | €92,760 | +€92,760 | |
| Remuneration, social security and pensions | 62 | - | €1,465 | +€1,465 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €696 | €1,172 | +€475 | +68.3% |
| Other operating charges | 640/8 | €648 | €1,756 | +€1,108 | +171% |
| Gross operating margin | 9900 | -€11,201 | €65,432 | +€76,632 | |
| Operating profit (loss) | 9901 | -€12,545 | €61,039 | +€73,584 | |
| Financial income | 75/76B | €187 | €1,891 | +€1,704 | +913% |
| Recurring financial income | 75 | €187 | €1,891 | +€1,704 | +913% |
| Financial charges | 65/66B | €263 | €1,819 | +€1,555 | +591% |
| Recurring financial charges | 65 | €263 | €1,819 | +€1,555 | +591% |
| Profit (loss) for the period before taxes | 9903 | -€12,622 | €61,111 | +€73,732 | |
| Income taxes | 67/77 | - | €12,575 | +€12,575 | |
| Profit (loss) for the period | 9904 | -€12,622 | €48,536 | +€61,157 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,622 | €48,536 | +€61,157 |
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 18 October 2026 via checked.be.