SAND DUCHESSE: 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.
SAND DUCHESSE
Largest movements
- Receivables within one year +€10,648
up €10,648 (+11,402%), from €93 to €10,741
of which Other amounts receivable: +€9,139
- Stocks and contracts +€9,186
up €9,186 (+207%), from €4,438 to €13,624
- Cash -€8,529
down €8,529 (-49.6%), from €17,202 to €8,673
mainly Net result for the year (-€23,485) and Receivables within one year (-€10,648)
- Deferred charges and accrued income -€8,284
no longer reported in 2025 (was €8,284)
- Tangible fixed assets -€1,351
no longer reported in 2025 (was €1,351)
of which Furniture and vehicles: -€1,000
- Trade debts +€27,197
up €27,197 (+65.8%), from €41,360 to €68,557
- Profit (loss) carried forward -€23,485
down €23,485 (-67.8%), from -€34,616 to -€58,101
- Accrued charges and deferred income -€5,807
no longer reported in 2025 (was €5,807)
- Tax, wage and social debts +€3,764
up €3,764 (+44.7%), from €8,421 to €12,185
of which Taxes: +€2,042
- Staff costs +€36,417
up €36,417 (+44.2%), from €82,392 to €118,809
- Other operating charges -€16,858
down €16,858 (-87.0%), from €19,372 to €2,514
- Gross operating margin +€14,566
up €14,566 (+15.9%), from €91,884 to €106,449
- Depreciation -€10,570
down €10,570 (-88.7%), from €11,921 to €1,351
- Taxes +€7,166
new in 2025: €7,166
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 | €40,907 | €42,576 | +€1,669 | +4.1% |
| Fixed assets | 21/28 | €10,889 | €9,538 | -€1,351 | -12.4% |
| Tangible fixed assets | 22/27 | €1,351 | - | -€1,351 | |
| Furniture and vehicles | 24 | €1,000 | - | -€1,000 | |
| Other tangible fixed assets | 26 | €351 | - | -€351 | |
| Financial fixed assets | 28 | €9,538 | €9,538 | = | 0.0% |
| Current assets | 29/58 | €30,018 | €33,038 | +€3,020 | +10.1% |
| Stocks and contracts in progress | 3 | €4,438 | €13,624 | +€9,186 | +207% |
| Stocks | 30/36 | €4,438 | €13,624 | +€9,186 | +207% |
| Amounts receivable within one year | 40/41 | €93 | €10,741 | +€10,648 | +11,402% |
| Trade receivables | 40 | - | €1,508 | +€1,508 | |
| Other amounts receivable | 41 | €93 | €9,233 | +€9,139 | +9,787% |
| Cash at bank and in hand | 54/58 | €17,202 | €8,673 | -€8,529 | -49.6% |
| Deferred charges and accrued income | 490/1 | €8,284 | - | -€8,284 | |
| Total equity and liabilities | 10/49 | €40,907 | €42,576 | +€1,669 | +4.1% |
| Equity | 10/15 | -€14,681 | -€38,166 | -€23,485 | -160% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €935 | €935 | = | 0.0% |
| Non-distributable reserves | 130/1 | €935 | €935 | = | 0.0% |
| Reserves not available under the articles | 1311 | €935 | €935 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,616 | -€58,101 | -€23,485 | -67.8% |
| Amounts payable | 17/49 | €55,588 | €80,742 | +€25,154 | +45.3% |
| Amounts payable within one year | 42/48 | €49,781 | €80,742 | +€30,961 | +62.2% |
| Trade debts | 44 | €41,360 | €68,557 | +€27,197 | +65.8% |
| Suppliers | 440/4 | €41,360 | €68,557 | +€27,197 | +65.8% |
| Taxes, remuneration and social security | 45 | €8,421 | €12,185 | +€3,764 | +44.7% |
| Taxes | 450/3 | €5,438 | €7,480 | +€2,042 | +37.6% |
| Remuneration and social security | 454/9 | €2,984 | €4,705 | +€1,722 | +57.7% |
| Accrued charges and deferred income | 492/3 | €5,807 | - | -€5,807 | |
| Remuneration, social security and pensions | 62 | €82,392 | €118,809 | +€36,417 | +44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,921 | €1,351 | -€10,570 | -88.7% |
| Other operating charges | 640/8 | €19,372 | €2,514 | -€16,858 | -87.0% |
| Gross operating margin | 9900 | €91,884 | €106,449 | +€14,566 | +15.9% |
| Operating profit (loss) | 9901 | -€21,802 | -€16,225 | +€5,577 | +25.6% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €117 | €94 | -€23 | -19.3% |
| Recurring financial charges | 65 | €117 | €94 | -€23 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,884 | -€16,319 | +€5,565 | +25.4% |
| Income taxes | 67/77 | - | €7,166 | +€7,166 | |
| Profit (loss) for the period | 9904 | -€21,884 | -€23,485 | -€1,602 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,884 | -€23,485 | -€1,602 | -7.3% |
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 31 October 2026 via checked.be.