SADMAN: what changed
Two fiscal 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.
SADMAN
Largest movements
- Tangible fixed assets -€6,296
down €6,296 (-63.2%), from €9,968 to €3,673
- Receivables within one year -€1,193
down €1,193 (-51.7%), from €2,307 to €1,114
- Debts after one year -€4,461
no longer reported in 2025 (was €4,461)
- Other debts -€3,872
no longer reported in 2025 (was €3,872)
- Financial charges +€1,482
up €1,482 (+157.7%), from €939 to €2,421
- Other operating charges -€996
down €996 (-44.6%), from €2,232 to €1,236
- Gross operating margin -€304
down €304 (-2.5%), from €12,161 to €11,857
- Taxes +€289
up €289 (+29.4%), from €983 to €1,272
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.
Cash bridge derived
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 | €66,198 | €57,950 | -€8,248 | -12.5% |
| Fixed assets | 21/28 | €13,468 | €6,673 | -€6,796 | -50.5% |
| Intangible fixed assets | 21 | €3,500 | €3,000 | -€500 | -14.3% |
| Tangible fixed assets | 22/27 | €9,968 | €3,673 | -€6,296 | -63.2% |
| Furniture and vehicles | 24 | €9,968 | €3,673 | -€6,296 | -63.2% |
| Current assets | 29/58 | €52,730 | €51,278 | -€1,452 | -2.8% |
| Stocks and contracts in progress | 3 | €45,300 | €45,100 | -€200 | -0.4% |
| Stocks | 30/36 | €45,300 | €45,100 | -€200 | -0.4% |
| Amounts receivable within one year | 40/41 | €2,307 | €1,114 | -€1,193 | -51.7% |
| Other amounts receivable | 41 | €2,307 | €1,114 | -€1,193 | -51.7% |
| Cash at bank and in hand | 54/58 | €4,107 | €4,055 | -€52 | -1.3% |
| Deferred charges and accrued income | 490/1 | €1,017 | €1,009 | -€8 | -0.8% |
| Total equity and liabilities | 10/49 | €66,198 | €57,950 | -€8,248 | -12.5% |
| Equity | 10/15 | €37,275 | €37,407 | +€132 | +0.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,215 | €29,347 | +€132 | +0.5% |
| Amounts payable | 17/49 | €28,923 | €20,543 | -€8,380 | -29.0% |
| Amounts payable after more than one year | 17 | €4,461 | - | -€4,461 | |
| Financial debts | 170/4 | €4,461 | - | -€4,461 | |
| Amounts payable within one year | 42/48 | €24,462 | €20,543 | -€3,919 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €4,270 | €4,461 | +€192 | +4.5% |
| Trade debts | 44 | €12,204 | €12,326 | +€123 | +1.0% |
| Suppliers | 440/4 | €12,204 | €12,326 | +€123 | +1.0% |
| Taxes, remuneration and social security | 45 | €4,116 | €3,755 | -€361 | -8.8% |
| Taxes | 450/3 | €4,116 | €3,755 | -€361 | -8.8% |
| Other amounts payable | 47/48 | €3,872 | - | -€3,872 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,796 | €6,796 | = | 0.0% |
| Other operating charges | 640/8 | €2,232 | €1,236 | -€996 | -44.6% |
| Gross operating margin | 9900 | €12,161 | €11,857 | -€304 | -2.5% |
| Operating profit (loss) | 9901 | €3,133 | €3,825 | +€692 | +22.1% |
| Financial charges | 65/66B | €939 | €2,421 | +€1,482 | +157.7% |
| Recurring financial charges | 65 | €939 | €2,421 | +€1,482 | +157.7% |
| Profit (loss) for the period before taxes | 9903 | €2,194 | €1,404 | -€789 | -36.0% |
| Income taxes | 67/77 | €983 | €1,272 | +€289 | +29.4% |
| Profit (loss) for the period | 9904 | €1,211 | €132 | -€1,078 | -89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,211 | €132 | -€1,078 | -89.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.