SANAM KHATIBI: 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.
SANAM KHATIBI
Largest movements
- Cash +€187,667
up €187,667 (+52.6%), from €356,616 to €544,283
mainly Net result for the year (+€276,174) and Other debts (+€192,500)
- Tangible fixed assets -€19,130
down €19,130 (-25.8%), from €74,276 to €55,145
of which Land and buildings: -€19,049
- Other debts +€192,500
up €192,500 (+51.5%), from €373,698 to €566,198
- Tax, wage and social debts +€101,541
up €101,541 (+995%), from €10,209 to €111,750
- Profit (loss) carried forward -€87,158
down €87,158 (-64.7%), from €134,716 to €47,558
- Trade debts -€31,266
down €31,266 (-81.0%), from €38,604 to €7,338
- Gross operating margin +€204,848
up €204,848 (+104%), from €196,431 to €401,279
- Taxes +€60,042
up €60,042 (+142%), from €42,209 to €102,250
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 | €562,227 | €737,843 | +€175,617 | +31.2% |
| Fixed assets | 21/28 | €113,893 | €94,763 | -€19,130 | -16.8% |
| Intangible fixed assets | 21 | €35,587 | €35,587 | = | 0.0% |
| Tangible fixed assets | 22/27 | €74,276 | €55,145 | -€19,130 | -25.8% |
| Land and buildings | 22 | €71,983 | €52,934 | -€19,049 | -26.5% |
| Furniture and vehicles | 24 | €2,292 | €2,211 | -€81 | -3.5% |
| Financial fixed assets | 28 | €4,031 | €4,031 | = | 0.0% |
| Current assets | 29/58 | €448,333 | €643,081 | +€194,747 | +43.4% |
| Amounts receivable within one year | 40/41 | €91,717 | €98,798 | +€7,081 | +7.7% |
| Trade receivables | 40 | €57,419 | €98,430 | +€41,011 | +71.4% |
| Other amounts receivable | 41 | €34,298 | €368 | -€33,931 | -98.9% |
| Cash at bank and in hand | 54/58 | €356,616 | €544,283 | +€187,667 | +52.6% |
| Total equity and liabilities | 10/49 | €562,227 | €737,843 | +€175,617 | +31.2% |
| Equity | 10/15 | €139,716 | €52,558 | -€87,158 | -62.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,716 | €47,558 | -€87,158 | -64.7% |
| Amounts payable | 17/49 | €422,510 | €685,285 | +€262,775 | +62.2% |
| Amounts payable within one year | 42/48 | €422,510 | €685,285 | +€262,775 | +62.2% |
| Trade debts | 44 | €38,604 | €7,338 | -€31,266 | -81.0% |
| Suppliers | 440/4 | €38,604 | €7,338 | -€31,266 | -81.0% |
| Taxes, remuneration and social security | 45 | €10,209 | €111,750 | +€101,541 | +995% |
| Taxes | 450/3 | €10,209 | €111,750 | +€101,541 | +995% |
| Other amounts payable | 47/48 | €373,698 | €566,198 | +€192,500 | +51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,426 | €20,543 | +€1,117 | +5.7% |
| Other operating charges | 640/8 | €1,393 | €1,523 | +€130 | +9.3% |
| Gross operating margin | 9900 | €196,431 | €401,279 | +€204,848 | +104% |
| Operating profit (loss) | 9901 | €175,611 | €379,213 | +€203,602 | +116% |
| Financial charges | 65/66B | €511 | €789 | +€278 | +54.4% |
| Recurring financial charges | 65 | €511 | €789 | +€278 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | €175,100 | €378,424 | +€203,324 | +116% |
| Income taxes | 67/77 | €42,209 | €102,250 | +€60,042 | +142% |
| Profit (loss) for the period | 9904 | €132,892 | €276,174 | +€143,282 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €132,892 | €276,174 | +€143,282 | +108% |
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 23 October 2026 via checked.be.