Sades: 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.
Sades
Largest movements
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€70,195
up €70,195 (+527%), from €13,328 to €83,523
mainly Current investments (+€75,000) and Net result for the year (+€22,548)
- Tangible fixed assets +€4,256
up €4,256 (+289%), from €1,475 to €5,730
of which Furniture and vehicles: +€4,288
- Receivables within one year +€4,103
up €4,103 (+36.5%), from €11,250 to €15,353
of which Other amounts receivable: +€3,687
- Reserves +€2,548
up €2,548 (+3.0%), from €83,634 to €86,182
- Gross operating margin +€9,177
up €9,177 (+42.0%), from €21,831 to €31,008
- Taxes +€2,245
up €2,245 (+52.0%), from €4,320 to €6,565
- Other operating charges -€1,067
no longer reported in 2025 (was €1,067)
- Financial income +€839
new in 2025: €839
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 | €102,700 | €105,539 | +€2,839 | +2.8% |
| Fixed assets | 21/28 | €1,480 | €5,735 | +€4,256 | +288% |
| Tangible fixed assets | 22/27 | €1,475 | €5,730 | +€4,256 | +289% |
| Plant, machinery and equipment | 23 | €1,358 | €1,326 | -€32 | -2.3% |
| Furniture and vehicles | 24 | €117 | €4,404 | +€4,288 | +3,679% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €101,220 | €99,804 | -€1,416 | -1.4% |
| Amounts receivable within one year | 40/41 | €11,250 | €15,353 | +€4,103 | +36.5% |
| Trade receivables | 40 | €11,250 | €11,667 | +€417 | +3.7% |
| Other amounts receivable | 41 | - | €3,687 | +€3,687 | |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €13,328 | €83,523 | +€70,195 | +527% |
| Deferred charges and accrued income | 490/1 | €1,642 | €927 | -€715 | -43.5% |
| Total equity and liabilities | 10/49 | €102,700 | €105,539 | +€2,839 | +2.8% |
| Equity | 10/15 | €85,634 | €88,182 | +€2,548 | +3.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €83,634 | €86,182 | +€2,548 | +3.0% |
| Distributable reserves | 133 | €83,634 | €86,182 | +€2,548 | +3.0% |
| Amounts payable | 17/49 | €17,066 | €17,357 | +€291 | +1.7% |
| Amounts payable within one year | 42/48 | €16,766 | €17,057 | +€291 | +1.7% |
| Trade debts | 44 | €3,957 | €3,864 | -€93 | -2.4% |
| Suppliers | 440/4 | €3,957 | €3,864 | -€93 | -2.4% |
| Taxes, remuneration and social security | 45 | €12,809 | €13,194 | +€385 | +3.0% |
| Taxes | 450/3 | €9,930 | €10,315 | +€385 | +3.9% |
| Remuneration and social security | 454/9 | €2,879 | €2,879 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Non-recurring operating income | 76A | €8,338 | - | -€8,338 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148 | €996 | -€152 | -13.2% |
| Other operating charges | 640/8 | €1,067 | - | -€1,067 | |
| Gross operating margin | 9900 | €21,831 | €31,008 | +€9,177 | +42.0% |
| Operating profit (loss) | 9901 | €19,615 | €30,012 | +€10,397 | +53.0% |
| Financial income | 75/76B | - | €839 | +€839 | |
| Recurring financial income | 75 | - | €839 | +€839 | |
| Financial charges | 65/66B | €1,558 | €1,738 | +€179 | +11.5% |
| Recurring financial charges | 65 | €1,558 | €1,738 | +€179 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €18,057 | €29,113 | +€11,056 | +61.2% |
| Income taxes | 67/77 | €4,320 | €6,565 | +€2,245 | +52.0% |
| Profit (loss) for the period | 9904 | €13,737 | €22,548 | +€8,811 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,737 | €22,548 | +€8,811 | +64.1% |
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 24 October 2026 via checked.be.