SANDAKO: 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.
SANDAKO
Largest movements
- Tangible fixed assets -€10,476
down €10,476 (-9.7%), from €107,685 to €97,208
of which Leasing and similar rights: -€10,550
- Cash +€2,163
up €2,163 (+8.6%), from €25,239 to €27,403
mainly Depreciation (+€12,880) and Net result for the year (+€10,681)
- Receivables within one year -€1,669
down €1,669 (-12.9%), from €12,909 to €11,240
of which Other amounts receivable: -€2,479
- Trade debts -€10,728
down €10,728 (-78.4%), from €13,692 to €2,964
- Reserves +€10,681
up €10,681 (+85.9%), from €12,437 to €23,118
- Debts after one year -€9,032
down €9,032 (-9.4%), from €96,065 to €87,033
- Other debts -€5,897
down €5,897 (-44.1%), from €13,357 to €7,460
- Tax, wage and social debts +€4,675
up €4,675 (+134%), from €3,499 to €8,173
of which Taxes: +€4,475
- Gross operating margin +€14,219
up €14,219 (+72.9%), from €19,511 to €33,730
- Depreciation +€11,140
up €11,140 (+640%), from €1,740 to €12,880
- Financial charges +€3,108
up €3,108 (+98.0%), from €3,171 to €6,279
- Taxes +€2,061
up €2,061 (+160%), from €1,289 to €3,350
- Other operating charges -€348
down €348 (-38.1%), from €913 to €565
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 | €153,262 | €143,433 | -€9,829 | -6.4% |
| Formation expenses | 20 | €2,457 | €1,374 | -€1,083 | -44.1% |
| Fixed assets | 21/28 | €107,685 | €97,208 | -€10,476 | -9.7% |
| Tangible fixed assets | 22/27 | €107,685 | €97,208 | -€10,476 | -9.7% |
| Plant, machinery and equipment | 23 | €2,763 | €1,949 | -€814 | -29.5% |
| Furniture and vehicles | 24 | - | €888 | +€888 | |
| Leasing and similar rights | 25 | €104,922 | €94,372 | -€10,550 | -10.1% |
| Current assets | 29/58 | €43,120 | €44,851 | +€1,731 | +4.0% |
| Amounts receivable within one year | 40/41 | €12,909 | €11,240 | -€1,669 | -12.9% |
| Trade receivables | 40 | €7,267 | €8,078 | +€810 | +11.1% |
| Other amounts receivable | 41 | €5,641 | €3,162 | -€2,479 | -43.9% |
| Cash at bank and in hand | 54/58 | €25,239 | €27,403 | +€2,163 | +8.6% |
| Deferred charges and accrued income | 490/1 | €4,972 | €6,209 | +€1,236 | +24.9% |
| Total equity and liabilities | 10/49 | €153,262 | €143,433 | -€9,829 | -6.4% |
| Equity | 10/15 | €17,437 | €28,118 | +€10,681 | +61.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €12,437 | €23,118 | +€10,681 | +85.9% |
| Distributable reserves | 133 | €12,437 | €23,118 | +€10,681 | +85.9% |
| Amounts payable | 17/49 | €135,824 | €115,315 | -€20,509 | -15.1% |
| Amounts payable after more than one year | 17 | €96,065 | €87,033 | -€9,032 | -9.4% |
| Financial debts | 170/4 | €96,065 | €87,033 | -€9,032 | -9.4% |
| Amounts payable within one year | 42/48 | €39,269 | €27,629 | -€11,640 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €8,722 | €9,032 | +€310 | +3.6% |
| Trade debts | 44 | €13,692 | €2,964 | -€10,728 | -78.4% |
| Suppliers | 440/4 | €13,692 | €2,964 | -€10,728 | -78.4% |
| Taxes, remuneration and social security | 45 | €3,499 | €8,173 | +€4,675 | +134% |
| Taxes | 450/3 | €1,499 | €5,973 | +€4,475 | +299% |
| Remuneration and social security | 454/9 | €2,000 | €2,200 | +€200 | +10.0% |
| Other amounts payable | 47/48 | €13,357 | €7,460 | -€5,897 | -44.1% |
| Accrued charges and deferred income | 492/3 | €490 | €653 | +€163 | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,740 | €12,880 | +€11,140 | +640% |
| Other operating charges | 640/8 | €913 | €565 | -€348 | -38.1% |
| Gross operating margin | 9900 | €19,511 | €33,730 | +€14,219 | +72.9% |
| Operating profit (loss) | 9901 | €16,858 | €20,284 | +€3,426 | +20.3% |
| Financial income | 75/76B | €39 | €25 | -€14 | -35.6% |
| Recurring financial income | 75 | €39 | €25 | -€14 | -35.6% |
| Financial charges | 65/66B | €3,171 | €6,279 | +€3,108 | +98.0% |
| Recurring financial charges | 65 | €3,171 | €6,279 | +€3,108 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | €13,726 | €14,030 | +€305 | +2.2% |
| Income taxes | 67/77 | €1,289 | €3,350 | +€2,061 | +160% |
| Profit (loss) for the period | 9904 | €12,437 | €10,681 | -€1,757 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,437 | €10,681 | -€1,757 | -14.1% |
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 20 October 2026 via checked.be.