SANDA: what changed
Two fiscal 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.
SANDA
Largest movements
- Receivables within one year +€26,642
up €26,642 (+2411.5%), from €1,105 to €27,747
of which Trade receivables: +€26,969
- Cash +€14,556
up €14,556 (+191.1%), from €7,615 to €22,170
mainly Net result for the year (+€24,931) and Other debts (+€24,499)
- Deferred charges and accrued income -€966
no longer reported in 2025 (was €966)
- Tangible fixed assets -€708
down €708 (-11.8%), from €5,979 to €5,271
- Profit (loss) carried forward +€24,931
up €24,931 (+56.9%), from -€43,814 to -€18,883
- Other debts +€24,499
up €24,499 (+72.2%), from €33,952 to €58,451
- Trade debts -€9,457
down €9,457 (-42.8%), from €22,095 to €12,638
- Gross operating margin +€37,392
up €37,392, from -€7,468 to €29,925
- Other operating charges +€1,884
up €1,884 (+1341.1%), from €141 to €2,025
- Financial charges -€1,448
down €1,448 (-74.6%), from €1,942 to €494
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 | €19,283 | €58,806 | +€39,524 | +205.0% |
| Fixed assets | 21/28 | €9,597 | €8,889 | -€708 | -7.4% |
| Tangible fixed assets | 22/27 | €5,979 | €5,271 | -€708 | -11.8% |
| Plant, machinery and equipment | 23 | €5,979 | €5,271 | -€708 | -11.8% |
| Financial fixed assets | 28 | €3,618 | €3,618 | = | 0.0% |
| Current assets | 29/58 | €9,686 | €49,917 | +€40,232 | +415.4% |
| Amounts receivable within one year | 40/41 | €1,105 | €27,747 | +€26,642 | +2411.5% |
| Trade receivables | 40 | €155 | €27,124 | +€26,969 | +17372.2% |
| Other amounts receivable | 41 | €950 | €623 | -€327 | -34.4% |
| Cash at bank and in hand | 54/58 | €7,615 | €22,170 | +€14,556 | +191.1% |
| Deferred charges and accrued income | 490/1 | €966 | - | -€966 | |
| Total equity and liabilities | 10/49 | €19,283 | €58,806 | +€39,524 | +205.0% |
| Equity | 10/15 | -€37,214 | -€12,283 | +€24,931 | +67.0% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,814 | -€18,883 | +€24,931 | +56.9% |
| Amounts payable | 17/49 | €56,497 | €71,090 | +€14,593 | +25.8% |
| Amounts payable within one year | 42/48 | €56,497 | €71,090 | +€14,593 | +25.8% |
| Trade debts | 44 | €22,095 | €12,638 | -€9,457 | -42.8% |
| Suppliers | 440/4 | €22,095 | €12,638 | -€9,457 | -42.8% |
| Taxes, remuneration and social security | 45 | €450 | - | -€450 | |
| Taxes | 450/3 | €450 | - | -€450 | |
| Other amounts payable | 47/48 | €33,952 | €58,451 | +€24,499 | +72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,414 | €2,485 | +€71 | +3.0% |
| Other operating charges | 640/8 | €141 | €2,025 | +€1,884 | +1341.1% |
| Gross operating margin | 9900 | -€7,468 | €29,925 | +€37,392 | |
| Operating profit (loss) | 9901 | -€10,022 | €25,415 | +€35,437 | |
| Financial income | 75/76B | €36 | €10 | -€26 | -72.1% |
| Recurring financial income | 75 | €36 | €10 | -€26 | -72.1% |
| Financial charges | 65/66B | €1,942 | €494 | -€1,448 | -74.6% |
| Recurring financial charges | 65 | €1,942 | €494 | -€1,448 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,928 | €24,931 | +€36,859 | |
| Profit (loss) for the period | 9904 | -€11,928 | €24,931 | +€36,859 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,928 | €24,931 | +€36,859 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.