SANAE: 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.
SANAE
Largest movements
- Cash +€14,361
up €14,361 (+26.7%), from €53,725 to €68,086
mainly Net result for the year (+€30,777) and Other debts (+€17,662)
- Receivables within one year +€12,356
up €12,356 (+76.9%), from €16,060 to €28,416
of which Other amounts receivable: +€11,192
- Tangible fixed assets +€8,589
up €8,589 (+14.4%), from €59,831 to €68,420
of which Furniture and vehicles: +€6,389
- Other debts +€17,662
up €17,662 (+258.3%), from €6,838 to €24,500
- Tax, wage and social debts +€16,869
up €16,869 (+612.2%), from €2,756 to €19,625
- Current portion of long-term debt +€5,024
up €5,024 (+86.9%), from €5,783 to €10,807
- Reserves -€4,223
down €4,223 (-5.5%), from €76,400 to €72,178
of which Distributable reserves: -€4,223
- Gross operating margin -€5,031
down €5,031 (-7.3%), from €69,116 to €64,084
- Taxes +€1,374
up €1,374 (+12.3%), from €11,188 to €12,562
- Depreciation +€974
up €974 (+8.3%), from €11,679 to €12,653
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 | €135,733 | €171,237 | +€35,503 | +26.2% |
| Fixed assets | 21/28 | €59,831 | €68,420 | +€8,589 | +14.4% |
| Tangible fixed assets | 22/27 | €59,831 | €68,420 | +€8,589 | +14.4% |
| Plant, machinery and equipment | 23 | €1,649 | €3,849 | +€2,199 | +133.4% |
| Furniture and vehicles | 24 | €58,182 | €64,571 | +€6,389 | +11.0% |
| Current assets | 29/58 | €75,902 | €102,817 | +€26,915 | +35.5% |
| Amounts receivable within one year | 40/41 | €16,060 | €28,416 | +€12,356 | +76.9% |
| Trade receivables | 40 | €16,060 | €17,224 | +€1,164 | +7.2% |
| Other amounts receivable | 41 | €0 | €11,192 | +€11,192 | |
| Current investments | 50/53 | €4,920 | €4,920 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,725 | €68,086 | +€14,361 | +26.7% |
| Deferred charges and accrued income | 490/1 | €1,196 | €1,394 | +€197 | +16.5% |
| Total equity and liabilities | 10/49 | €135,733 | €171,237 | +€35,503 | +26.2% |
| Equity | 10/15 | €95,000 | €90,778 | -€4,223 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,400 | €72,178 | -€4,223 | -5.5% |
| Tax-exempt reserves | 132 | €2,405 | €2,405 | = | 0.0% |
| Distributable reserves | 133 | €73,995 | €69,773 | -€4,223 | -5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,733 | €80,459 | +€39,726 | +97.5% |
| Amounts payable after more than one year | 17 | €24,422 | €22,966 | -€1,457 | -6.0% |
| Financial debts | 170/4 | €24,422 | €22,966 | -€1,457 | -6.0% |
| Amounts payable within one year | 42/48 | €16,311 | €57,493 | +€41,183 | +252.5% |
| Current portion of amounts payable after more than one year | 42 | €5,783 | €10,807 | +€5,024 | +86.9% |
| Trade debts | 44 | €934 | €2,561 | +€1,628 | +174.3% |
| Suppliers | 440/4 | €934 | €2,561 | +€1,628 | +174.3% |
| Taxes, remuneration and social security | 45 | €2,756 | €19,625 | +€16,869 | +612.2% |
| Taxes | 450/3 | €2,756 | €19,625 | +€16,869 | +612.2% |
| Other amounts payable | 47/48 | €6,838 | €24,500 | +€17,662 | +258.3% |
| Non-recurring operating income | 76A | €324 | €6,763 | +€6,439 | +1989.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,679 | €12,653 | +€974 | +8.3% |
| Other operating charges | 640/8 | €1,732 | €1,483 | -€249 | -14.4% |
| Non-recurring operating charges | 66A | €0 | €4,866 | +€4,866 | |
| Gross operating margin | 9900 | €69,116 | €64,084 | -€5,031 | -7.3% |
| Operating profit (loss) | 9901 | €55,704 | €45,082 | -€10,622 | -19.1% |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €1,748 | €1,746 | -€2 | -0.1% |
| Recurring financial charges | 65 | €1,748 | €1,746 | -€2 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €53,956 | €43,339 | -€10,617 | -19.7% |
| Income taxes | 67/77 | €11,188 | €12,562 | +€1,374 | +12.3% |
| Profit (loss) for the period | 9904 | €42,769 | €30,777 | -€11,991 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,769 | €30,777 | -€11,991 | -28.0% |
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 12 October 2026 via checked.be.