SALE - RE: 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.
SALE - RE
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€76,416
up €76,416 (+11.9%), from €641,943 to €718,359
- Profit (loss) carried forward -€40,395
down €40,395 (-13.3%), from -€302,750 to -€343,146
- Debts after one year -€32,188
down €32,188 (-7.1%), from €456,145 to €423,956
- Gross operating margin +€8,013
up €8,013 (+14.2%), from €56,250 to €64,264
- Depreciation -€6,144
down €6,144 (-6.5%), from €94,713 to €88,569
- Financial charges +€2,171
up €2,171 (+16.5%), from €13,182 to €15,353
- Other operating charges +€1,332
up €1,332 (+11.5%), from €11,595 to €12,927
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 | €2,059,950 | €2,048,952 | -€10,999 | -0.5% |
| Fixed assets | 21/28 | €2,054,852 | €2,044,048 | -€10,804 | -0.5% |
| Tangible fixed assets | 22/27 | €2,054,852 | €2,044,048 | -€10,804 | -0.5% |
| Land and buildings | 22 | €2,054,852 | €2,044,048 | -€10,804 | -0.5% |
| Current assets | 29/58 | €5,098 | €4,903 | -€195 | -3.8% |
| Cash at bank and in hand | 54/58 | €2,576 | €1,425 | -€1,151 | -44.7% |
| Deferred charges and accrued income | 490/1 | €2,522 | €3,478 | +€957 | +37.9% |
| Total equity and liabilities | 10/49 | €2,059,950 | €2,048,952 | -€10,999 | -0.5% |
| Equity | 10/15 | €864,886 | €815,349 | -€49,537 | -5.7% |
| Contributions | 10/11 | €360,973 | €360,973 | = | 0.0% |
| Capital | 10 | €360,973 | €360,973 | = | 0.0% |
| Issued capital | 100 | €360,973 | €360,973 | = | 0.0% |
| Revaluation surpluses | 12 | €620,417 | €620,417 | = | 0.0% |
| Reserves | 13 | €186,247 | €177,105 | -€9,142 | -4.9% |
| Tax-exempt reserves | 132 | €186,247 | €177,105 | -€9,142 | -4.9% |
| Profit (loss) carried forward | 14 | -€302,750 | -€343,146 | -€40,395 | -13.3% |
| Provisions and deferred taxes | 16 | €62,082 | €59,035 | -€3,047 | -4.9% |
| Deferred taxes | 168 | €62,082 | €59,035 | -€3,047 | -4.9% |
| Amounts payable | 17/49 | €1,132,981 | €1,174,568 | +€41,586 | +3.7% |
| Amounts payable after more than one year | 17 | €456,145 | €423,956 | -€32,188 | -7.1% |
| Financial debts | 170/4 | €456,145 | €423,956 | -€32,188 | -7.1% |
| Amounts payable within one year | 42/48 | €676,837 | €750,612 | +€73,775 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €31,127 | €32,188 | +€1,061 | +3.4% |
| Trade debts | 44 | €1,998 | €64 | -€1,934 | -96.8% |
| Suppliers | 440/4 | €1,998 | €64 | -€1,934 | -96.8% |
| Advances received on contracts in progress | 46 | €1,769 | - | -€1,769 | |
| Other amounts payable | 47/48 | €641,943 | €718,359 | +€76,416 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,713 | €88,569 | -€6,144 | -6.5% |
| Other operating charges | 640/8 | €11,595 | €12,927 | +€1,332 | +11.5% |
| Gross operating margin | 9900 | €56,250 | €64,264 | +€8,013 | +14.2% |
| Operating profit (loss) | 9901 | -€50,058 | -€37,232 | +€12,825 | +25.6% |
| Financial charges | 65/66B | €13,182 | €15,353 | +€2,171 | +16.5% |
| Recurring financial charges | 65 | €13,182 | €15,353 | +€2,171 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | -€63,240 | -€52,585 | +€10,655 | +16.8% |
| Transfer from deferred taxes | 780 | €3,047 | €3,047 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€60,192 | -€49,537 | +€10,655 | +17.7% |
| Transfer from tax-exempt reserves | 789 | €9,142 | €9,142 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,050 | -€40,395 | +€10,655 | +20.9% |
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 30 October 2026 via checked.be.