SADENSO: 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.
SADENSO
Largest movements
- Financial fixed assets +€5.4m
up €5.4m (+25.3%), from €21.3m to €26.7m
- Receivables within one year -€5.0m
down €5.0m (-83.3%), from €5.9m to €991,017
of which Other amounts receivable: -€4.9m
- Cash -€1.5m
down €1.5m (-88.5%), from €1.7m to €192,645
mainly Investment in fixed assets (net) (-€5.4m) and Other debts (-€1.3m)
- Current investments +€1.3m
up €1.3m (+15.0%), from €8.4m to €9.6m
- Other debts -€1.3m
down €1.3m (-41.0%), from €3.2m to €1.9m
- Reserves +€1.1m
new in 2024: €1.1m
- Financial charges -€22.4m
down €22.4m (-98.2%), from €22.9m to €410,216
- Financial income -€20.8m
down €20.8m (-91.8%), from €22.6m to €1.9m
- Taxes +€222,287
up €222,287 (+137,835%), from €161 to €222,448
- Gross operating margin -€26,015
down €26,015 (-664%), from -€3,918 to -€29,932
- Other operating charges -€5,781
down €5,781 (-100%), from €5,781 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,846,704 | €43,763,227 | -€83,477 | -0.2% |
| Fixed assets | 21/28 | €23,918,413 | €29,272,487 | +€5.4m | +22.4% |
| Tangible fixed assets | 22/27 | €2,581,973 | €2,532,970 | -€49,003 | -1.9% |
| Land and buildings | 22 | €2,581,973 | €2,506,520 | -€75,453 | -2.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €26,450 | +€26,450 | |
| Financial fixed assets | 28 | €21,336,440 | €26,739,517 | +€5.4m | +25.3% |
| Current assets | 29/58 | €19,928,291 | €14,490,740 | -€5.4m | -27.3% |
| Amounts receivable after more than one year | 29 | €3,947,769 | €3,704,269 | -€243,500 | -6.2% |
| Other amounts receivable | 291 | €3,947,769 | €3,704,269 | -€243,500 | -6.2% |
| Amounts receivable within one year | 40/41 | €5,942,415 | €991,017 | -€5.0m | -83.3% |
| Trade receivables | 40 | €82,974 | €58,414 | -€24,560 | -29.6% |
| Other amounts receivable | 41 | €5,859,441 | €932,603 | -€4.9m | -84.1% |
| Current investments | 50/53 | €8,352,513 | €9,602,795 | +€1.3m | +15.0% |
| Cash at bank and in hand | 54/58 | €1,668,357 | €192,645 | -€1.5m | -88.5% |
| Deferred charges and accrued income | 490/1 | €17,238 | €14 | -€17,223 | -99.9% |
| Total equity and liabilities | 10/49 | €43,846,704 | €43,763,227 | -€83,477 | -0.2% |
| Equity | 10/15 | €38,266,522 | €39,379,670 | +€1.1m | +2.9% |
| Contributions | 10/11 | €39,086,855 | €39,086,855 | = | 0.0% |
| Reserves | 13 | - | €1,113,148 | +€1.1m | |
| Distributable reserves | 133 | - | €1,113,148 | +€1.1m | |
| Profit (loss) carried forward | 14 | -€820,333 | -€820,333 | = | 0.0% |
| Amounts payable | 17/49 | €5,580,182 | €4,383,557 | -€1.2m | -21.4% |
| Amounts payable after more than one year | 17 | €2,271,347 | €2,271,347 | = | 0.0% |
| Financial debts | 170/4 | €2,271,347 | €2,271,347 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,308,835 | €2,112,210 | -€1.2m | -36.2% |
| Trade debts | 44 | €64,188 | €26,372 | -€37,816 | -58.9% |
| Suppliers | 440/4 | €64,188 | €26,372 | -€37,816 | -58.9% |
| Taxes, remuneration and social security | 45 | €2,451 | €172,643 | +€170,192 | +6,944% |
| Taxes | 450/3 | €2,451 | €172,643 | +€170,192 | +6,944% |
| Other amounts payable | 47/48 | €3,242,196 | €1,913,195 | -€1.3m | -41.0% |
| Non-recurring operating income | 76A | €28,951 | €0 | -€28,951 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,169 | €84,357 | -€2,812 | -3.2% |
| Other operating charges | 640/8 | €5,781 | €0 | -€5,781 | -100% |
| Gross operating margin | 9900 | -€3,918 | -€29,932 | -€26,015 | -664% |
| Operating profit (loss) | 9901 | -€96,867 | -€114,289 | -€17,422 | -18.0% |
| Financial income | 75/76B | €22,640,259 | €1,860,101 | -€20.8m | -91.8% |
| Recurring financial income | 75 | €22,640,259 | €1,860,101 | -€20.8m | -91.8% |
| Financial charges | 65/66B | €22,854,225 | €410,216 | -€22.4m | -98.2% |
| Recurring financial charges | 65 | €22,854,225 | €410,216 | -€22.4m | -98.2% |
| Profit (loss) for the period before taxes | 9903 | -€310,834 | €1,335,597 | +€1.6m | |
| Income taxes | 67/77 | €161 | €222,448 | +€222,287 | +137,835% |
| Profit (loss) for the period | 9904 | -€310,995 | €1,113,148 | +€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€310,995 | €1,113,148 | +€1.4m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.