SANDDOC: 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.
SANDDOC
Largest movements
- Cash +€85,964
up €85,964 (+48.1%), from €178,903 to €264,868
mainly Net result for the year (+€68,707) and Depreciation (+€12,638)
- Tangible fixed assets -€10,910
down €10,910 (-27.5%), from €39,645 to €28,735
of which Furniture and vehicles: -€9,369
- Deferred charges and accrued income -€5,249
down €5,249 (-8.4%), from €62,706 to €57,458
- Reserves +€68,500
up €68,500 (+29.5%), from €232,090 to €300,590
- Debts after one year -€6,972
no longer reported in 2025 (was €6,972)
- Tax, wage and social debts +€4,749
up €4,749 (+43.3%), from €10,980 to €15,729
- Current portion of long-term debt -€3,783
down €3,783 (-35.2%), from €10,755 to €6,972
- Depreciation -€1,174
down €1,174 (-8.5%), from €13,811 to €12,638
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 | €283,043 | €351,260 | +€68,217 | +24.1% |
| Fixed assets | 21/28 | €39,645 | €28,735 | -€10,910 | -27.5% |
| Tangible fixed assets | 22/27 | €39,645 | €28,735 | -€10,910 | -27.5% |
| Plant, machinery and equipment | 23 | €10,028 | €8,751 | -€1,277 | -12.7% |
| Furniture and vehicles | 24 | €29,177 | €19,808 | -€9,369 | -32.1% |
| Other tangible fixed assets | 26 | €440 | €176 | -€264 | -60.0% |
| Current assets | 29/58 | €243,398 | €322,526 | +€79,127 | +32.5% |
| Amounts receivable within one year | 40/41 | €1,789 | €200 | -€1,588 | -88.8% |
| Trade receivables | 40 | €123 | €200 | +€78 | +63.0% |
| Other amounts receivable | 41 | €1,666 | - | -€1,666 | |
| Cash at bank and in hand | 54/58 | €178,903 | €264,868 | +€85,964 | +48.1% |
| Deferred charges and accrued income | 490/1 | €62,706 | €57,458 | -€5,249 | -8.4% |
| Total equity and liabilities | 10/49 | €283,043 | €351,260 | +€68,217 | +24.1% |
| Equity | 10/15 | €244,605 | €313,312 | +€68,707 | +28.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €232,090 | €300,590 | +€68,500 | +29.5% |
| Distributable reserves | 133 | €232,090 | €300,590 | +€68,500 | +29.5% |
| Profit (loss) carried forward | 14 | €115 | €322 | +€207 | +180.6% |
| Amounts payable | 17/49 | €38,439 | €37,948 | -€490 | -1.3% |
| Amounts payable after more than one year | 17 | €6,972 | - | -€6,972 | |
| Financial debts | 170/4 | €6,972 | - | -€6,972 | |
| Amounts payable within one year | 42/48 | €31,466 | €37,948 | +€6,482 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €10,755 | €6,972 | -€3,783 | -35.2% |
| Financial debts | 43 | €260 | €1,737 | +€1,477 | +568.5% |
| Credit institutions | 430/8 | €260 | €1,737 | +€1,477 | +568.5% |
| Trade debts | 44 | €9,471 | €12,003 | +€2,532 | +26.7% |
| Suppliers | 440/4 | €9,471 | €12,003 | +€2,532 | +26.7% |
| Taxes, remuneration and social security | 45 | €10,980 | €15,729 | +€4,749 | +43.3% |
| Taxes | 450/3 | €10,980 | €15,729 | +€4,749 | +43.3% |
| Other amounts payable | 47/48 | - | €1,507 | +€1,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,811 | €12,638 | -€1,174 | -8.5% |
| Other operating charges | 640/8 | €433 | €444 | +€10 | +2.4% |
| Gross operating margin | 9900 | €108,238 | €108,692 | +€454 | +0.4% |
| Operating profit (loss) | 9901 | €93,993 | €95,610 | +€1,617 | +1.7% |
| Financial income | 75/76B | €601 | €603 | +€2 | +0.3% |
| Recurring financial income | 75 | €601 | €603 | +€2 | +0.3% |
| Financial charges | 65/66B | €344 | €771 | +€427 | +124.1% |
| Recurring financial charges | 65 | €344 | €771 | +€427 | +124.1% |
| Profit (loss) for the period before taxes | 9903 | €94,250 | €95,442 | +€1,192 | +1.3% |
| Income taxes | 67/77 | €26,730 | €26,735 | +€5 | 0.0% |
| Profit (loss) for the period | 9904 | €67,520 | €68,707 | +€1,187 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,520 | €68,707 | +€1,187 | +1.8% |
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 4 October 2026 via checked.be.