SADEL TRADE: 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.
SADEL TRADE
Largest movements
- Receivables within one year +€376,089
up €376,089 (+251%), from €150,010 to €526,099
of which Other amounts receivable: +€345,705
- Cash -€187,066
down €187,066 (-49.8%), from €375,959 to €188,893
mainly Receivables within one year (-€376,089) and Net result for the year (-€256,326)
- Receivables after one year -€167,750
no longer reported in 2025 (was €167,750)
- Tangible fixed assets -€97,111
down €97,111 (-15.7%), from €617,482 to €520,371
of which Plant, machinery and equipment: -€68,339
- Stocks and contracts -€69,165
down €69,165 (-10.0%), from €690,749 to €621,584
- Profit (loss) carried forward -€256,326
down €256,326, from €92,686 to -€163,640
- Other debts +€204,183
up €204,183 (+579%), from €35,262 to €239,445
- Debts after one year -€127,410
down €127,410 (-29.7%), from €428,756 to €301,346
- Short-term financial debts +€90,087
up €90,087 (+491%), from €18,359 to €108,446
- Tax, wage and social debts -€33,408
down €33,408 (-23.4%), from €142,716 to €109,307
of which Taxes: -€25,482
- Gross operating margin -€325,898
down €325,898 (-31.0%), from €1.1m to €726,311
- Staff costs +€54,428
up €54,428 (+7.0%), from €780,819 to €835,247
- Taxes -€23,968
down €23,968 (-86.1%), from €27,843 to €3,875
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 | €2,014,016 | €1,889,890 | -€124,126 | -6.2% |
| Fixed assets | 21/28 | €617,528 | €528,972 | -€88,555 | -14.3% |
| Intangible fixed assets | 21 | - | €8,556 | +€8,556 | |
| Tangible fixed assets | 22/27 | €617,482 | €520,371 | -€97,111 | -15.7% |
| Land and buildings | 22 | €32,350 | €24,852 | -€7,497 | -23.2% |
| Plant, machinery and equipment | 23 | €409,000 | €340,661 | -€68,339 | -16.7% |
| Furniture and vehicles | 24 | €80,791 | €117,854 | +€37,062 | +45.9% |
| Leasing and similar rights | 25 | €88,672 | €30,985 | -€57,687 | -65.1% |
| Other tangible fixed assets | 26 | €5,342 | €4,692 | -€650 | -12.2% |
| Assets under construction and advance payments | 27 | €1,327 | €1,327 | = | 0.0% |
| Financial fixed assets | 28 | €46 | €46 | = | 0.0% |
| Current assets | 29/58 | €1,396,488 | €1,360,918 | -€35,570 | -2.5% |
| Amounts receivable after more than one year | 29 | €167,750 | - | -€167,750 | |
| Other amounts receivable | 291 | €167,750 | - | -€167,750 | |
| Stocks and contracts in progress | 3 | €690,749 | €621,584 | -€69,165 | -10.0% |
| Stocks | 30/36 | €690,749 | €621,584 | -€69,165 | -10.0% |
| Amounts receivable within one year | 40/41 | €150,010 | €526,099 | +€376,089 | +251% |
| Trade receivables | 40 | €49,726 | €80,110 | +€30,384 | +61.1% |
| Other amounts receivable | 41 | €100,284 | €445,989 | +€345,705 | +345% |
| Cash at bank and in hand | 54/58 | €375,959 | €188,893 | -€187,066 | -49.8% |
| Deferred charges and accrued income | 490/1 | €12,021 | €24,342 | +€12,322 | +103% |
| Total equity and liabilities | 10/49 | €2,014,016 | €1,889,890 | -€124,126 | -6.2% |
| Equity | 10/15 | €361,741 | €105,415 | -€256,326 | -70.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €19,054 | €19,054 | = | 0.0% |
| Distributable reserves | 133 | €19,054 | €19,054 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,686 | -€163,640 | -€256,326 | |
| Amounts payable | 17/49 | €1,652,275 | €1,784,475 | +€132,200 | +8.0% |
| Amounts payable after more than one year | 17 | €428,756 | €301,346 | -€127,410 | -29.7% |
| Financial debts | 170/4 | €428,756 | €301,346 | -€127,410 | -29.7% |
| Amounts payable within one year | 42/48 | €1,223,519 | €1,483,129 | +€259,610 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €171,644 | €153,877 | -€17,767 | -10.4% |
| Financial debts | 43 | €18,359 | €108,446 | +€90,087 | +491% |
| Credit institutions | 430/8 | €18,359 | €108,446 | +€90,087 | +491% |
| Trade debts | 44 | €855,538 | €872,053 | +€16,515 | +1.9% |
| Suppliers | 440/4 | €855,538 | €872,053 | +€16,515 | +1.9% |
| Taxes, remuneration and social security | 45 | €142,716 | €109,307 | -€33,408 | -23.4% |
| Taxes | 450/3 | €38,769 | €13,287 | -€25,482 | -65.7% |
| Remuneration and social security | 454/9 | €103,947 | €96,020 | -€7,926 | -7.6% |
| Other amounts payable | 47/48 | €35,262 | €239,445 | +€204,183 | +579% |
| Remuneration, social security and pensions | 62 | €780,819 | €835,247 | +€54,428 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,903 | €123,059 | +€3,156 | +2.6% |
| Other operating charges | 640/8 | €9,657 | €7,940 | -€1,718 | -17.8% |
| Non-recurring operating charges | 66A | €2,172 | €807 | -€1,365 | -62.9% |
| Gross operating margin | 9900 | €1,052,209 | €726,311 | -€325,898 | -31.0% |
| Operating profit (loss) | 9901 | €139,658 | -€240,742 | -€380,400 | |
| Financial income | 75/76B | €9,076 | €16,153 | +€7,077 | +78.0% |
| Recurring financial income | 75 | €9,076 | €16,153 | +€7,077 | +78.0% |
| Financial charges | 65/66B | €38,117 | €27,862 | -€10,255 | -26.9% |
| Recurring financial charges | 65 | €38,117 | €27,862 | -€10,255 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €110,617 | -€252,451 | -€363,068 | |
| Income taxes | 67/77 | €27,843 | €3,875 | -€23,968 | -86.1% |
| Profit (loss) for the period | 9904 | €82,774 | -€256,326 | -€339,099 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,774 | -€256,326 | -€339,099 |
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 25 October 2026 via checked.be.