Sand Witch: 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 Witch
Largest movements
- Cash +€22,418
up €22,418 (+61.8%), from €36,299 to €58,717
mainly Depreciation (+€21,799) and Net result for the year (+€12,784)
- Tangible fixed assets -€8,295
down €8,295 (-3.4%), from €243,337 to €235,041
of which Land and buildings: -€15,405
- Reserves +€19,499
up €19,499 (+31.4%), from €62,069 to €81,568
- Profit (loss) carried forward -€6,715
down €6,715 (-100%), from €6,715 to €0
- Debts after one year -€3,989
down €3,989 (-2.8%), from €144,054 to €140,065
- Accrued charges and deferred income +€3,014
up €3,014, from €0 to €3,014
- Financial charges +€3,062
up €3,062 (+60.9%), from €5,029 to €8,091
- Gross operating margin -€2,826
down €2,826 (-5.4%), from €52,047 to €49,221
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 | €281,784 | €296,803 | +€15,018 | +5.3% |
| Fixed assets | 21/28 | €243,337 | €235,041 | -€8,295 | -3.4% |
| Tangible fixed assets | 22/27 | €243,337 | €235,041 | -€8,295 | -3.4% |
| Land and buildings | 22 | €236,758 | €221,353 | -€15,405 | -6.5% |
| Plant, machinery and equipment | 23 | €6,202 | €13,492 | +€7,291 | +118% |
| Furniture and vehicles | 24 | €377 | €196 | -€182 | -48.2% |
| Current assets | 29/58 | €38,448 | €61,761 | +€23,314 | +60.6% |
| Amounts receivable within one year | 40/41 | €2,020 | €3,044 | +€1,024 | +50.7% |
| Trade receivables | 40 | €258 | €248 | -€9 | -3.6% |
| Other amounts receivable | 41 | €1,762 | €2,796 | +€1,033 | +58.6% |
| Cash at bank and in hand | 54/58 | €36,299 | €58,717 | +€22,418 | +61.8% |
| Deferred charges and accrued income | 490/1 | €129 | €0 | -€129 | -100% |
| Total equity and liabilities | 10/49 | €281,784 | €296,803 | +€15,018 | +5.3% |
| Equity | 10/15 | €74,984 | €87,768 | +€12,784 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €62,069 | €81,568 | +€19,499 | +31.4% |
| Distributable reserves | 133 | €62,069 | €81,568 | +€19,499 | +31.4% |
| Profit (loss) carried forward | 14 | €6,715 | €0 | -€6,715 | -100% |
| Amounts payable | 17/49 | €206,800 | €209,034 | +€2,234 | +1.1% |
| Amounts payable after more than one year | 17 | €144,054 | €140,065 | -€3,989 | -2.8% |
| Financial debts | 170/4 | €144,054 | €140,065 | -€3,989 | -2.8% |
| Amounts payable within one year | 42/48 | €62,746 | €65,955 | +€3,209 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €14,358 | €15,492 | +€1,134 | +7.9% |
| Trade debts | 44 | €5,196 | €4,410 | -€786 | -15.1% |
| Suppliers | 440/4 | €5,196 | €4,410 | -€786 | -15.1% |
| Taxes, remuneration and social security | 45 | €0 | €1,694 | +€1,694 | |
| Taxes | 450/3 | €0 | €1,694 | +€1,694 | |
| Other amounts payable | 47/48 | €43,191 | €44,358 | +€1,167 | +2.7% |
| Accrued charges and deferred income | 492/3 | €0 | €3,014 | +€3,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,304 | €21,799 | -€505 | -2.3% |
| Other operating charges | 640/8 | €1,062 | €1,090 | +€28 | +2.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €52,047 | €49,221 | -€2,826 | -5.4% |
| Operating profit (loss) | 9901 | €28,681 | €26,332 | -€2,350 | -8.2% |
| Financial income | 75/76B | €0 | €126 | +€125 | +37,991% |
| Recurring financial income | 75 | €0 | €126 | +€125 | +37,991% |
| Financial charges | 65/66B | €5,029 | €8,091 | +€3,062 | +60.9% |
| Recurring financial charges | 65 | €5,029 | €8,091 | +€3,062 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €23,653 | €18,367 | -€5,286 | -22.3% |
| Income taxes | 67/77 | €5,774 | €5,583 | -€192 | -3.3% |
| Profit (loss) for the period | 9904 | €17,878 | €12,784 | -€5,094 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,878 | €12,784 | -€5,094 | -28.5% |
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 26 October 2026 via checked.be.