SAND26: 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.
SAND26
Largest movements
- Cash +€287,066
up €287,066 (+245.7%), from €116,815 to €403,880
mainly Net result for the year (+€177,192) and Investment in fixed assets (net) (+€145,098)
- Financial fixed assets -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Receivables after one year +€100,000
new in 2025: €100,000
- Deferred charges and accrued income +€15,284
up €15,284 (+56.8%), from €26,887 to €42,171
- Tangible fixed assets -€12,344
down €12,344 (-24.8%), from €49,824 to €37,480
of which Furniture and vehicles: -€8,988
- Reserves +€177,192
up €177,192 (+86.6%), from €204,606 to €381,798
- Tax, wage and social debts +€84,508
up €84,508 (+81.1%), from €104,211 to €188,718
of which Taxes: +€88,107
- Debts after one year -€17,506
down €17,506 (-100.0%), from €17,506 to €0
- Gross operating margin +€30,795
up €30,795 (+9.4%), from €327,415 to €358,210
- Other operating charges +€29,768
up €29,768 (+478.6%), from €6,220 to €35,988
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.
Cash bridge derived
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 | €347,749 | €592,924 | +€245,174 | +70.5% |
| Fixed assets | 21/28 | €199,824 | €37,480 | -€162,344 | -81.2% |
| Tangible fixed assets | 22/27 | €49,824 | €37,480 | -€12,344 | -24.8% |
| Plant, machinery and equipment | 23 | €2,825 | €317 | -€2,508 | -88.8% |
| Furniture and vehicles | 24 | €41,270 | €32,282 | -€8,988 | -21.8% |
| Other tangible fixed assets | 26 | €5,729 | €4,881 | -€848 | -14.8% |
| Financial fixed assets | 28 | €150,000 | €0 | -€150,000 | -100.0% |
| Current assets | 29/58 | €147,925 | €555,443 | +€407,518 | +275.5% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €4,224 | €9,392 | +€5,168 | +122.4% |
| Other amounts receivable | 41 | €4,224 | €9,392 | +€5,168 | +122.4% |
| Cash at bank and in hand | 54/58 | €116,815 | €403,880 | +€287,066 | +245.7% |
| Deferred charges and accrued income | 490/1 | €26,887 | €42,171 | +€15,284 | +56.8% |
| Total equity and liabilities | 10/49 | €347,749 | €592,924 | +€245,174 | +70.5% |
| Equity | 10/15 | €204,606 | €381,798 | +€177,192 | +86.6% |
| Reserves | 13 | €204,606 | €381,798 | +€177,192 | +86.6% |
| Distributable reserves | 133 | €204,606 | €381,798 | +€177,192 | +86.6% |
| Amounts payable | 17/49 | €143,143 | €211,126 | +€67,983 | +47.5% |
| Amounts payable after more than one year | 17 | €17,506 | €0 | -€17,506 | -100.0% |
| Financial debts | 170/4 | €17,506 | €0 | -€17,506 | -100.0% |
| Amounts payable within one year | 42/48 | €125,636 | €208,284 | +€82,647 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €20,142 | €17,506 | -€2,636 | -13.1% |
| Financial debts | 43 | €111 | €131 | +€20 | +18.4% |
| Credit institutions | 430/8 | €111 | €131 | +€20 | +18.4% |
| Trade debts | 44 | €1,173 | €1,928 | +€755 | +64.3% |
| Suppliers | 440/4 | €1,173 | €1,928 | +€755 | +64.3% |
| Taxes, remuneration and social security | 45 | €104,211 | €188,718 | +€84,508 | +81.1% |
| Taxes | 450/3 | €97,611 | €185,718 | +€88,107 | +90.3% |
| Remuneration and social security | 454/9 | €6,600 | €3,000 | -€3,600 | -54.5% |
| Accrued charges and deferred income | 492/3 | - | €2,842 | +€2,842 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,146 | €17,246 | -€2,899 | -14.4% |
| Other operating charges | 640/8 | €6,220 | €35,988 | +€29,768 | +478.6% |
| Non-recurring operating charges | 66A | - | €35,300 | +€35,300 | |
| Gross operating margin | 9900 | €327,415 | €358,210 | +€30,795 | +9.4% |
| Operating profit (loss) | 9901 | €301,049 | €269,676 | -€31,374 | -10.4% |
| Financial income | 75/76B | - | €309 | +€309 | |
| Recurring financial income | 75 | - | €309 | +€309 | |
| Financial charges | 65/66B | €2,982 | €1,536 | -€1,447 | -48.5% |
| Recurring financial charges | 65 | €2,982 | €1,536 | -€1,447 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €298,067 | €268,449 | -€29,617 | -9.9% |
| Income taxes | 67/77 | €93,461 | €91,258 | -€2,203 | -2.4% |
| Profit (loss) for the period | 9904 | €204,606 | €177,192 | -€27,415 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €204,606 | €177,192 | -€27,415 | -13.4% |
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 11 October 2026 via checked.be.