SADENO: 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.
SADENO
Largest movements
- Cash +€46,705
up €46,705 (+65.2%), from €71,634 to €118,339
mainly Net result for the year (+€35,433) and Tax, wage and social debts (+€8,573)
- Receivables within one year -€4,558
down €4,558 (-41.3%), from €11,044 to €6,486
of which Trade receivables: -€4,404
- Tangible fixed assets +€1,974
up €1,974 (+379%), from €521 to €2,495
- Profit (loss) carried forward +€35,433
up €35,433 (+50.6%), from €70,040 to €105,473
- Tax, wage and social debts +€8,573
up €8,573 (+72.1%), from €11,893 to €20,465
- Gross operating margin -€2,664
down €2,664 (-5.5%), from €48,487 to €45,823
- Taxes -€725
down €725 (-7.2%), from €10,129 to €9,404
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 | €84,805 | €129,031 | +€44,227 | +52.2% |
| Fixed assets | 21/28 | €521 | €2,495 | +€1,974 | +379% |
| Tangible fixed assets | 22/27 | €521 | €2,495 | +€1,974 | +379% |
| Furniture and vehicles | 24 | €521 | €2,495 | +€1,974 | +379% |
| Current assets | 29/58 | €84,284 | €126,537 | +€42,253 | +50.1% |
| Amounts receivable within one year | 40/41 | €11,044 | €6,486 | -€4,558 | -41.3% |
| Trade receivables | 40 | €10,890 | €6,486 | -€4,404 | -40.4% |
| Other amounts receivable | 41 | €154 | - | -€154 | |
| Cash at bank and in hand | 54/58 | €71,634 | €118,339 | +€46,705 | +65.2% |
| Deferred charges and accrued income | 490/1 | €1,606 | €1,712 | +€106 | +6.6% |
| Total equity and liabilities | 10/49 | €84,805 | €129,031 | +€44,227 | +52.2% |
| Equity | 10/15 | €72,040 | €107,473 | +€35,433 | +49.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,040 | €105,473 | +€35,433 | +50.6% |
| Amounts payable | 17/49 | €12,765 | €21,558 | +€8,793 | +68.9% |
| Amounts payable within one year | 42/48 | €12,765 | €21,558 | +€8,793 | +68.9% |
| Trade debts | 44 | €872 | €872 | -€1 | -0.1% |
| Suppliers | 440/4 | €872 | €872 | -€1 | -0.1% |
| Taxes, remuneration and social security | 45 | €11,893 | €20,465 | +€8,573 | +72.1% |
| Taxes | 450/3 | €11,893 | €20,465 | +€8,573 | +72.1% |
| Other amounts payable | 47/48 | - | €221 | +€221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €796 | +€296 | +59.2% |
| Gross operating margin | 9900 | €48,487 | €45,823 | -€2,664 | -5.5% |
| Operating profit (loss) | 9901 | €47,987 | €45,027 | -€2,960 | -6.2% |
| Financial charges | 65/66B | €161 | €190 | +€29 | +18.0% |
| Recurring financial charges | 65 | €161 | €190 | +€29 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €47,826 | €44,837 | -€2,989 | -6.2% |
| Income taxes | 67/77 | €10,129 | €9,404 | -€725 | -7.2% |
| Profit (loss) for the period | 9904 | €37,696 | €35,433 | -€2,263 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,696 | €35,433 | -€2,263 | -6.0% |
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.