SANDER CLAES DEVELOPMENT: 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 CLAES DEVELOPMENT
Largest movements
- Cash +€123,712
up €123,712 (+185%), from €66,863 to €190,576
mainly Net result for the year (+€78,283) and Tax, wage and social debts (+€27,627)
- Receivables within one year -€8,420
down €8,420 (-100%), from €8,420 to €0
- Tangible fixed assets -€8,193
down €8,193 (-11.7%), from €70,075 to €61,882
of which Furniture and vehicles: -€15,806
- Reserves +€78,280
up €78,280 (+93.5%), from €83,710 to €161,990
- Tax, wage and social debts +€27,627
up €27,627 (+90.7%), from €30,450 to €58,077
- Other debts +€10,146
up €10,146 (+273%), from €3,716 to €13,862
- Debts after one year -€6,540
down €6,540 (-18.9%), from €34,530 to €27,991
- Trade debts -€3,636
down €3,636 (-65.3%), from €5,566 to €1,931
- Gross operating margin +€57,333
up €57,333 (+74.7%), from €76,743 to €134,076
- Taxes +€26,111
up €26,111 (+191%), from €13,685 to €39,796
- Other operating charges -€1,694
down €1,694 (-48.2%), from €3,510 to €1,817
- Financial charges -€1,352
down €1,352, from €1,109 to -€244
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 | €192,400 | €298,236 | +€105,837 | +55.0% |
| Fixed assets | 21/28 | €70,075 | €61,882 | -€8,193 | -11.7% |
| Tangible fixed assets | 22/27 | €70,075 | €61,882 | -€8,193 | -11.7% |
| Land and buildings | 22 | €49,757 | €50,494 | +€736 | +1.5% |
| Plant, machinery and equipment | 23 | €1,049 | €7,925 | +€6,876 | +656% |
| Furniture and vehicles | 24 | €19,269 | €3,463 | -€15,806 | -82.0% |
| Current assets | 29/58 | €122,324 | €236,354 | +€114,030 | +93.2% |
| Amounts receivable within one year | 40/41 | €8,420 | €0 | -€8,420 | -100% |
| Trade receivables | 40 | €8,420 | €0 | -€8,420 | -100% |
| Cash at bank and in hand | 54/58 | €66,863 | €190,576 | +€123,712 | +185% |
| Deferred charges and accrued income | 490/1 | €47,041 | €45,778 | -€1,262 | -2.7% |
| Total equity and liabilities | 10/49 | €192,400 | €298,236 | +€105,837 | +55.0% |
| Equity | 10/15 | €102,378 | €180,661 | +€78,283 | +76.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,710 | €161,990 | +€78,280 | +93.5% |
| Distributable reserves | 133 | €83,710 | €161,990 | +€78,280 | +93.5% |
| Profit (loss) carried forward | 14 | €68 | €71 | +€3 | +4.0% |
| Amounts payable | 17/49 | €90,022 | €117,576 | +€27,554 | +30.6% |
| Amounts payable after more than one year | 17 | €34,530 | €27,991 | -€6,540 | -18.9% |
| Financial debts | 170/4 | €34,530 | €27,991 | -€6,540 | -18.9% |
| Amounts payable within one year | 42/48 | €44,794 | €79,153 | +€34,358 | +76.7% |
| Current portion of amounts payable after more than one year | 42 | €5,063 | €5,283 | +€220 | +4.4% |
| Trade debts | 44 | €5,566 | €1,931 | -€3,636 | -65.3% |
| Suppliers | 440/4 | €5,566 | €1,931 | -€3,636 | -65.3% |
| Taxes, remuneration and social security | 45 | €30,450 | €58,077 | +€27,627 | +90.7% |
| Taxes | 450/3 | €30,450 | €58,077 | +€27,627 | +90.7% |
| Other amounts payable | 47/48 | €3,716 | €13,862 | +€10,146 | +273% |
| Accrued charges and deferred income | 492/3 | €10,697 | €10,433 | -€265 | -2.5% |
| Remuneration, social security and pensions | 62 | - | €476 | +€476 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,757 | €13,960 | +€203 | +1.5% |
| Other operating charges | 640/8 | €3,510 | €1,817 | -€1,694 | -48.2% |
| Gross operating margin | 9900 | €76,743 | €134,076 | +€57,333 | +74.7% |
| Operating profit (loss) | 9901 | €59,475 | €117,824 | +€58,348 | +98.1% |
| Financial income | 75/76B | €0 | €11 | +€11 | |
| Recurring financial income | 75 | €0 | €11 | +€11 | |
| Financial charges | 65/66B | €1,109 | -€244 | -€1,352 | |
| Recurring financial charges | 65 | €1,109 | -€244 | -€1,352 | |
| Profit (loss) for the period before taxes | 9903 | €58,367 | €118,078 | +€59,712 | +102% |
| Income taxes | 67/77 | €13,685 | €39,796 | +€26,111 | +191% |
| Profit (loss) for the period | 9904 | €44,682 | €78,283 | +€33,601 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,682 | €78,283 | +€33,601 | +75.2% |
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 16 October 2026 via checked.be.