SANDERS: 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.
What changed
SANDERS
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€111,791
2025 · €15,110-€126,901
Equity
€4.1m
2025 · €4.2m-€111,791
Cash
€17,894
2025 · €10,129+€7,766
Balance sheet total
€7.1m
2025 · €8.6m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-36.2%), from €5.4m to €3.4m
of which Other amounts receivable: -€2.0m
- Stocks and contracts +€240,515
up €240,515 (+63.4%), from €379,419 to €619,934
- Tangible fixed assets +€166,212
up €166,212 (+6.0%), from €2.8m to €2.9m
of which Other tangible fixed assets: +€101,910
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-52.6%), from €2.2m to €1.1m
- Debts after one year -€250,977
down €250,977 (-14.5%), from €1.7m to €1.5m
- Reserves -€111,791
down €111,791 (-2.7%), from €4.1m to €4.0m
of which Distributable reserves: -€111,791
Income statement
- Staff costs -€1.5m
down €1.5m (-58.1%), from €2.6m to €1.1m
- Gross operating margin -€1.3m
down €1.3m (-50.7%), from €2.6m to €1.3m
- Financial income -€227,250
down €227,250 (-73.8%), from €307,935 to €80,685
- Depreciation +€187,611
up €187,611 (+107%), from €175,242 to €362,853
- Financial charges +€37,662
up €37,662 (+351%), from €10,722 to €48,384
From the 2025 result to the 2026 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.
Result 2025
€15,110
Gross operating margin
-€1.3m
Staff costs
+€1.5m
Depreciation
-€187,611
Other operating charges
+€2,927
Other operating items
+€158,763
Financial income
-€227,250
Financial charges
-€37,662
Taxes
+€6,653
Result 2026
-€111,791
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€756,682
Investment
-€528,565
Financing
-€220,351
Cash 2025
€10,129
From operations (derived)
+€756,682
Net result for the year
-€111,791
Depreciation
+€362,853
Stocks and contracts
-€240,515
Receivables within one year
+€1.9m
Deferred charges and accrued income
-€50,710
Trade debts
-€1.2m
Tax, wage and social debts
+€26,126
Accrued charges and deferred income
+€705
Investment (derived)
-€528,565
Investment in fixed assets (net)
-€528,565
Financing
-€220,351
Debts after one year
-€250,977
Current portion of long-term debt
+€30,626
Cash 2026
€17,894
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,554,783 | €7,069,831 | -€1.5m | -17.4% |
| Fixed assets | 21/28 | €2,770,961 | €2,936,673 | +€165,712 | +6.0% |
| Tangible fixed assets | 22/27 | €2,770,461 | €2,936,673 | +€166,212 | +6.0% |
| Land and buildings | 22 | €5,704 | €4,503 | -€1,201 | -21.1% |
| Plant, machinery and equipment | 23 | €2,521,427 | €2,559,533 | +€38,105 | +1.5% |
| Furniture and vehicles | 24 | €7,540 | €34,938 | +€27,398 | +363% |
| Other tangible fixed assets | 26 | €235,789 | €337,699 | +€101,910 | +43.2% |
| Financial fixed assets | 28 | €500 | €0 | -€500 | -100% |
| Current assets | 29/58 | €5,783,822 | €4,133,158 | -€1.7m | -28.5% |
| Stocks and contracts in progress | 3 | €379,419 | €619,934 | +€240,515 | +63.4% |
| Stocks | 30/36 | €379,419 | €619,934 | +€240,515 | +63.4% |
| Amounts receivable within one year | 40/41 | €5,386,471 | €3,436,816 | -€1.9m | -36.2% |
| Trade receivables | 40 | €249,088 | €324,523 | +€75,435 | +30.3% |
| Other amounts receivable | 41 | €5,137,383 | €3,112,293 | -€2.0m | -39.4% |
| Cash at bank and in hand | 54/58 | €10,129 | €17,894 | +€7,766 | +76.7% |
| Deferred charges and accrued income | 490/1 | €7,804 | €58,514 | +€50,710 | +650% |
| Total equity and liabilities | 10/49 | €8,554,783 | €7,069,831 | -€1.5m | -17.4% |
| Equity | 10/15 | €4,187,086 | €4,075,295 | -€111,791 | -2.7% |
| Contributions | 10/11 | €65,008 | €65,008 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Contributions outside capital | 11 | €8 | €8 | = | 0.0% |
| Share premium | 1100/10 | €8 | €8 | = | 0.0% |
| Reserves | 13 | €4,122,078 | €4,010,287 | -€111,791 | -2.7% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €156,735 | €156,735 | = | 0.0% |
| Distributable reserves | 133 | €3,958,843 | €3,847,052 | -€111,791 | -2.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €4,367,697 | €2,994,536 | -€1.4m | -31.4% |
| Amounts payable after more than one year | 17 | €1,728,649 | €1,477,673 | -€250,977 | -14.5% |
| Financial debts | 170/4 | €1,728,649 | €1,477,673 | -€250,977 | -14.5% |
| Amounts payable within one year | 42/48 | €2,636,984 | €1,514,095 | -€1.1m | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €220,351 | €250,977 | +€30,626 | +13.9% |
| Trade debts | 44 | €2,242,879 | €1,063,238 | -€1.2m | -52.6% |
| Suppliers | 440/4 | €2,242,879 | €1,063,238 | -€1.2m | -52.6% |
| Taxes, remuneration and social security | 45 | €173,755 | €199,880 | +€26,126 | +15.0% |
| Taxes | 450/3 | €5,990 | €7,021 | +€1,031 | +17.2% |
| Remuneration and social security | 454/9 | €167,765 | €192,860 | +€25,095 | +15.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,063 | €2,768 | +€705 | +34.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,575,596 | €1,078,916 | -€1.5m | -58.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,242 | €362,853 | +€187,611 | +107% |
| Other operating charges | 640/8 | €6,508 | €3,581 | -€2,927 | -45.0% |
| Non-recurring operating charges | 66A | €158,763 | €0 | -€158,763 | -100% |
| Gross operating margin | 9900 | €2,640,659 | €1,301,258 | -€1.3m | -50.7% |
| Operating profit (loss) | 9901 | -€275,451 | -€144,093 | +€131,358 | +47.7% |
| Financial income | 75/76B | €307,935 | €80,685 | -€227,250 | -73.8% |
| Recurring financial income | 75 | €307,935 | €80,685 | -€227,250 | -73.8% |
| Financial charges | 65/66B | €10,722 | €48,384 | +€37,662 | +351% |
| Recurring financial charges | 65 | €10,722 | €48,384 | +€37,662 | +351% |
| Profit (loss) for the period before taxes | 9903 | €21,762 | -€111,791 | -€133,554 | |
| Income taxes | 67/77 | €6,653 | €0 | -€6,653 | -100% |
| Profit (loss) for the period | 9904 | €15,110 | -€111,791 | -€126,901 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,110 | -€111,791 | -€126,901 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.