SANDER SEGERS: 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 SEGERS
Largest movements
- Tangible fixed assets -€4,025
down €4,025 (-56.7%), from €7,102 to €3,077
of which Furniture and vehicles: -€3,316
- Deferred charges and accrued income -€1,400
down €1,400 (-19.1%), from €7,325 to €5,925
- Trade debts +€8,195
up €8,195 (+121%), from €6,787 to €14,982
- Current portion of long-term debt -€7,000
down €7,000 (-100%), from €7,000 to €0
- Profit (loss) carried forward -€5,713
down €5,713 (-23.0%), from €24,880 to €19,166
- Tax, wage and social debts -€1,986
down €1,986 (-93.9%), from €2,115 to €129
of which Remuneration and social security: -€1,803
- Short-term financial debts +€1,391
up €1,391 (+71.7%), from €1,940 to €3,331
- Gross operating margin -€46,594
down €46,594 (-80.2%), from €58,128 to €11,534
- Staff costs -€28,020
down €28,020 (-70.4%), from €39,782 to €11,762
- Taxes -€3,045
down €3,045 (-95.9%), from €3,173 to €129
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 | €45,324 | €40,108 | -€5,216 | -11.5% |
| Fixed assets | 21/28 | €7,465 | €3,440 | -€4,025 | -53.9% |
| Tangible fixed assets | 22/27 | €7,102 | €3,077 | -€4,025 | -56.7% |
| Land and buildings | 22 | €1,183 | €840 | -€343 | -29.0% |
| Plant, machinery and equipment | 23 | €524 | €158 | -€367 | -69.9% |
| Furniture and vehicles | 24 | €5,395 | €2,079 | -€3,316 | -61.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €37,859 | €36,668 | -€1,190 | -3.1% |
| Stocks and contracts in progress | 3 | €8,200 | €8,200 | = | 0.0% |
| Stocks | 30/36 | €8,200 | €8,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,753 | €21,963 | +€210 | +1.0% |
| Trade receivables | 40 | €10,356 | €19,894 | +€9,537 | +92.1% |
| Other amounts receivable | 41 | €11,397 | €2,069 | -€9,328 | -81.8% |
| Cash at bank and in hand | 54/58 | €581 | €581 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €7,325 | €5,925 | -€1,400 | -19.1% |
| Total equity and liabilities | 10/49 | €45,324 | €40,108 | -€5,216 | -11.5% |
| Equity | 10/15 | €27,380 | €21,666 | -€5,713 | -20.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,880 | €19,166 | -€5,713 | -23.0% |
| Amounts payable | 17/49 | €17,944 | €18,441 | +€497 | +2.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €17,841 | €18,441 | +€600 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €0 | -€7,000 | -100% |
| Financial debts | 43 | €1,940 | €3,331 | +€1,391 | +71.7% |
| Credit institutions | 430/8 | €1,940 | €3,331 | +€1,391 | +71.7% |
| Trade debts | 44 | €6,787 | €14,982 | +€8,195 | +121% |
| Suppliers | 440/4 | €6,787 | €14,982 | +€8,195 | +121% |
| Taxes, remuneration and social security | 45 | €2,115 | €129 | -€1,986 | -93.9% |
| Taxes | 450/3 | €312 | €129 | -€183 | -58.6% |
| Remuneration and social security | 454/9 | €1,803 | €0 | -€1,803 | -100% |
| Accrued charges and deferred income | 492/3 | €103 | €0 | -€103 | -100% |
| Remuneration, social security and pensions | 62 | €39,782 | €11,762 | -€28,020 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,541 | €4,025 | -€516 | -11.4% |
| Other operating charges | 640/8 | €1,320 | €826 | -€494 | -37.4% |
| Gross operating margin | 9900 | €58,128 | €11,534 | -€46,594 | -80.2% |
| Operating profit (loss) | 9901 | €12,485 | -€5,079 | -€17,564 | |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.5% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.5% |
| Financial charges | 65/66B | €662 | €505 | -€157 | -23.7% |
| Recurring financial charges | 65 | €662 | €505 | -€157 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €11,831 | -€5,584 | -€17,415 | |
| Income taxes | 67/77 | €3,173 | €129 | -€3,045 | -95.9% |
| Profit (loss) for the period | 9904 | €8,658 | -€5,713 | -€14,371 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,658 | -€5,713 | -€14,371 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.