SANAS: 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.
SANAS
Largest movements
- Receivables within one year +€208,415
up €208,415 (+550%), from €37,888 to €246,303
of which Trade receivables: +€205,346
- Cash -€162,851
down €162,851 (-76.3%), from €213,305 to €50,454
mainly Receivables within one year (-€208,415) and Stocks and contracts (-€137,231)
- Stocks and contracts +€137,231
up €137,231 (+91.5%), from €149,994 to €287,226
- Intangible fixed assets -€24,193
down €24,193 (-19.9%), from €121,480 to €97,287
- Trade debts +€159,098
up €159,098 (+188%), from €84,498 to €243,596
- Reserves -€70,000
down €70,000 (-26.7%), from €261,842 to €191,842
of which Distributable reserves: -€70,000
- Other debts +€55,544
up €55,544 (+166%), from €33,469 to €89,014
- Staff costs -€89,376
down €89,376 (-99.9%), from €89,446 to €70
- Financial charges -€22,391
down €22,391 (-60.3%), from €37,108 to €14,718
- Depreciation -€14,611
down €14,611 (-30.7%), from €47,591 to €32,980
- Financial income +€9,492
up €9,492 (+27,698%), from €34 to €9,526
- Gross operating margin -€7,316
down €7,316 (-13.2%), from €55,484 to €48,168
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 | €550,328 | €698,330 | +€148,002 | +26.9% |
| Fixed assets | 21/28 | €143,543 | €114,163 | -€29,380 | -20.5% |
| Intangible fixed assets | 21 | €121,480 | €97,287 | -€24,193 | -19.9% |
| Tangible fixed assets | 22/27 | €21,309 | €16,122 | -€5,187 | -24.3% |
| Plant, machinery and equipment | 23 | €2,958 | €1,977 | -€982 | -33.2% |
| Furniture and vehicles | 24 | €6,618 | €3,912 | -€2,707 | -40.9% |
| Other tangible fixed assets | 26 | €11,732 | €10,233 | -€1,499 | -12.8% |
| Financial fixed assets | 28 | €755 | €755 | = | 0.0% |
| Current assets | 29/58 | €406,785 | €584,167 | +€177,382 | +43.6% |
| Stocks and contracts in progress | 3 | €149,994 | €287,226 | +€137,231 | +91.5% |
| Stocks | 30/36 | €149,994 | €287,226 | +€137,231 | +91.5% |
| Amounts receivable within one year | 40/41 | €37,888 | €246,303 | +€208,415 | +550% |
| Trade receivables | 40 | €22,732 | €228,079 | +€205,346 | +903% |
| Other amounts receivable | 41 | €15,156 | €18,224 | +€3,068 | +20.2% |
| Cash at bank and in hand | 54/58 | €213,305 | €50,454 | -€162,851 | -76.3% |
| Deferred charges and accrued income | 490/1 | €5,597 | €183 | -€5,414 | -96.7% |
| Total equity and liabilities | 10/49 | €550,328 | €698,330 | +€148,002 | +26.9% |
| Equity | 10/15 | €432,221 | €362,620 | -€69,601 | -16.1% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €261,842 | €191,842 | -€70,000 | -26.7% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €241,842 | €171,842 | -€70,000 | -28.9% |
| Profit (loss) carried forward | 14 | €379 | €778 | +€399 | +105% |
| Amounts payable | 17/49 | €118,107 | €335,710 | +€217,603 | +184% |
| Amounts payable within one year | 42/48 | €118,107 | €334,810 | +€216,703 | +183% |
| Trade debts | 44 | €84,498 | €243,596 | +€159,098 | +188% |
| Suppliers | 440/4 | €84,498 | €243,596 | +€159,098 | +188% |
| Taxes, remuneration and social security | 45 | €140 | €2,200 | +€2,061 | +1,476% |
| Taxes | 450/3 | €140 | €2,200 | +€2,061 | +1,476% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €33,469 | €89,014 | +€55,544 | +166% |
| Accrued charges and deferred income | 492/3 | - | €900 | +€900 | |
| Remuneration, social security and pensions | 62 | €89,446 | €70 | -€89,376 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,591 | €32,980 | -€14,611 | -30.7% |
| Other operating charges | 640/8 | €7,605 | €4,845 | -€2,760 | -36.3% |
| Non-recurring operating charges | 66A | €4,583 | €70,068 | +€65,485 | +1,429% |
| Gross operating margin | 9900 | €55,484 | €48,168 | -€7,316 | -13.2% |
| Operating profit (loss) | 9901 | -€93,741 | -€59,796 | +€33,946 | +36.2% |
| Financial income | 75/76B | €34 | €9,526 | +€9,492 | +27,698% |
| Recurring financial income | 75 | €34 | €9,526 | +€9,492 | +27,698% |
| Financial charges | 65/66B | €37,108 | €14,718 | -€22,391 | -60.3% |
| Recurring financial charges | 65 | €37,108 | €14,718 | -€22,391 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | -€130,815 | -€64,987 | +€65,828 | +50.3% |
| Income taxes | 67/77 | €0 | €4,615 | +€4,615 | |
| Profit (loss) for the period | 9904 | -€130,815 | -€69,601 | +€61,214 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€130,815 | -€69,601 | +€61,214 | +46.8% |
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 14 October 2026 via checked.be.