SANDER BREINE: 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.
SANDER BREINE
Largest movements
- Receivables within one year +€42,497
up €42,497 (+56.5%), from €75,161 to €117,658
of which Other amounts receivable: +€41,135
- Cash -€28,565
down €28,565 (-68.3%), from €41,851 to €13,286
mainly Receivables within one year (-€42,497) and Trade debts (-€7,733)
- Tangible fixed assets -€5,385
down €5,385 (-52.0%), from €10,357 to €4,972
of which Furniture and vehicles: -€5,173
- Reserves +€25,000
up €25,000 (+30.1%), from €83,000 to €108,000
- Trade debts -€7,733
down €7,733 (-59.9%), from €12,910 to €5,177
- Short-term financial debts -€4,183
down €4,183 (-50.8%), from €8,243 to €4,060
- Debts after one year -€3,944
down €3,944 (-100%), from €3,944 to €0
- Current portion of long-term debt -€1,587
down €1,587 (-28.7%), from €5,531 to €3,944
- Gross operating margin -€54,305
down €54,305 (-57.3%), from €94,720 to €40,415
- Taxes -€9,468
down €9,468 (-56.5%), from €16,772 to €7,304
- Depreciation -€4,028
down €4,028 (-42.8%), from €9,413 to €5,385
- Other operating charges -€2,373
down €2,373 (-50.4%), from €4,703 to €2,331
- Financial income +€1,782
up €1,782 (+109%), from €1,636 to €3,419
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 | €127,916 | €136,756 | +€8,840 | +6.9% |
| Fixed assets | 21/28 | €10,357 | €4,972 | -€5,385 | -52.0% |
| Tangible fixed assets | 22/27 | €10,357 | €4,972 | -€5,385 | -52.0% |
| Plant, machinery and equipment | 23 | €436 | €224 | -€212 | -48.7% |
| Furniture and vehicles | 24 | €9,921 | €4,748 | -€5,173 | -52.1% |
| Current assets | 29/58 | €117,559 | €131,785 | +€14,226 | +12.1% |
| Amounts receivable within one year | 40/41 | €75,161 | €117,658 | +€42,497 | +56.5% |
| Trade receivables | 40 | €24,728 | €26,090 | +€1,362 | +5.5% |
| Other amounts receivable | 41 | €50,434 | €91,568 | +€41,135 | +81.6% |
| Cash at bank and in hand | 54/58 | €41,851 | €13,286 | -€28,565 | -68.3% |
| Deferred charges and accrued income | 490/1 | €547 | €841 | +€294 | +53.7% |
| Total equity and liabilities | 10/49 | €127,916 | €136,756 | +€8,840 | +6.9% |
| Equity | 10/15 | €93,488 | €118,804 | +€25,316 | +27.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €83,000 | €108,000 | +€25,000 | +30.1% |
| Distributable reserves | 133 | €83,000 | €108,000 | +€25,000 | +30.1% |
| Profit (loss) carried forward | 14 | €488 | €804 | +€316 | +64.6% |
| Amounts payable | 17/49 | €34,428 | €17,953 | -€16,475 | -47.9% |
| Amounts payable after more than one year | 17 | €3,944 | €0 | -€3,944 | -100% |
| Financial debts | 170/4 | €3,944 | €0 | -€3,944 | -100% |
| Amounts payable within one year | 42/48 | €30,484 | €17,953 | -€12,531 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €5,531 | €3,944 | -€1,587 | -28.7% |
| Financial debts | 43 | €8,243 | €4,060 | -€4,183 | -50.8% |
| Other loans | 439 | €8,243 | €4,060 | -€4,183 | -50.8% |
| Trade debts | 44 | €12,910 | €5,177 | -€7,733 | -59.9% |
| Suppliers | 440/4 | €12,910 | €5,177 | -€7,733 | -59.9% |
| Taxes, remuneration and social security | 45 | €3,240 | €3,272 | +€32 | +1.0% |
| Taxes | 450/3 | €3,240 | €3,272 | +€32 | +1.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €560 | €1,500 | +€940 | +168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,413 | €5,385 | -€4,028 | -42.8% |
| Other operating charges | 640/8 | €4,703 | €2,331 | -€2,373 | -50.4% |
| Gross operating margin | 9900 | €94,720 | €40,415 | -€54,305 | -57.3% |
| Operating profit (loss) | 9901 | €80,604 | €32,699 | -€47,905 | -59.4% |
| Financial income | 75/76B | €1,636 | €3,419 | +€1,782 | +109% |
| Recurring financial income | 75 | €1,636 | €3,419 | +€1,782 | +109% |
| Financial charges | 65/66B | €3,338 | €3,498 | +€161 | +4.8% |
| Recurring financial charges | 65 | €3,338 | €3,498 | +€161 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €78,902 | €32,619 | -€46,283 | -58.7% |
| Income taxes | 67/77 | €16,772 | €7,304 | -€9,468 | -56.5% |
| Profit (loss) for the period | 9904 | €62,131 | €25,316 | -€36,815 | -59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,131 | €25,316 | -€36,815 | -59.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.