SAND-PIERRE: 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-PIERRE
Largest movements
- Tangible fixed assets -€67,608
down €67,608 (-12.0%), from €561,397 to €493,789
of which Land and buildings: -€60,340
- Profit (loss) carried forward -€67,603
down €67,603 (-30.9%), from -€218,929 to -€286,532
- Depreciation -€987
down €987 (-1.4%), from €68,596 to €67,608
- Financial charges -€972
no longer reported in 2025 (was €972)
- Gross operating margin -€554
down €554 (-17.1%), from €3,237 to €2,683
- Other operating charges +€214
up €214 (+8.7%), from €2,464 to €2,678
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €561,397 | €493,789 | -€67,608 | -12.0% |
| Fixed assets | 21/28 | €561,397 | €493,789 | -€67,608 | -12.0% |
| Tangible fixed assets | 22/27 | €561,397 | €493,789 | -€67,608 | -12.0% |
| Land and buildings | 22 | €497,762 | €437,422 | -€60,340 | -12.1% |
| Plant, machinery and equipment | 23 | €63,635 | €56,368 | -€7,268 | -11.4% |
| Total equity and liabilities | 10/49 | €561,397 | €493,789 | -€67,608 | -12.0% |
| Equity | 10/15 | €395,128 | €327,525 | -€67,603 | -17.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Revaluation surpluses | 12 | €535,949 | €535,949 | = | 0.0% |
| Reserves | 13 | €71,911 | €71,911 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €70,051 | €70,051 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€218,929 | -€286,532 | -€67,603 | -30.9% |
| Amounts payable | 17/49 | €166,269 | €166,264 | -€5 | 0.0% |
| Amounts payable within one year | 42/48 | €166,269 | €166,264 | -€5 | 0.0% |
| Other amounts payable | 47/48 | €166,269 | €166,264 | -€5 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,596 | €67,608 | -€987 | -1.4% |
| Other operating charges | 640/8 | €2,464 | €2,678 | +€214 | +8.7% |
| Gross operating margin | 9900 | €3,237 | €2,683 | -€554 | -17.1% |
| Operating profit (loss) | 9901 | -€67,823 | -€67,603 | +€220 | +0.3% |
| Financial charges | 65/66B | €972 | - | -€972 | |
| Recurring financial charges | 65 | €972 | - | -€972 | |
| Profit (loss) for the period before taxes | 9903 | -€68,795 | -€67,603 | +€1,192 | +1.7% |
| Profit (loss) for the period | 9904 | -€68,795 | -€67,603 | +€1,192 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,795 | -€67,603 | +€1,192 | +1.7% |
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.