SANDERSHOF: 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.
SANDERSHOF
Largest movements
- Receivables after one year +€450,000
up €450,000 (+32.7%), from €1.4m to €1.8m
- Tangible fixed assets -€236,163
down €236,163 (-56.6%), from €417,529 to €181,366
of which Land and buildings: -€233,663
- Cash +€217,913
up €217,913 (+4,086%), from €5,333 to €223,246
mainly Net result for the year (+€341,604) and Investment in fixed assets (net) (+€229,000)
- Reserves +€341,604
up €341,604 (+32.3%), from €1.1m to €1.4m
of which Distributable reserves: +€217,140
- Tax, wage and social debts +€55,669
up €55,669 (+217%), from €25,665 to €81,334
- Provisions +€41,488
up €41,488 (+20.6%), from €201,758 to €243,246
- Gross operating margin +€396,071
up €396,071 (+438%), from €90,379 to €486,450
- Taxes +€57,402
up €57,402 (+224%), from €25,665 to €83,067
- Depreciation -€30,574
down €30,574 (-81.0%), from €37,736 to €7,163
- Financial income -€30,332
no longer reported in 2025 (was €30,332)
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 | €1,807,459 | €2,239,453 | +€431,994 | +23.9% |
| Fixed assets | 21/28 | €417,529 | €181,366 | -€236,163 | -56.6% |
| Tangible fixed assets | 22/27 | €417,529 | €181,366 | -€236,163 | -56.6% |
| Land and buildings | 22 | €415,029 | €181,366 | -€233,663 | -56.3% |
| Furniture and vehicles | 24 | €2,500 | - | -€2,500 | |
| Current assets | 29/58 | €1,389,930 | €2,058,087 | +€668,157 | +48.1% |
| Amounts receivable after more than one year | 29 | €1,377,644 | €1,827,644 | +€450,000 | +32.7% |
| Trade receivables | 290 | €1,377,644 | €1,827,644 | +€450,000 | +32.7% |
| Amounts receivable within one year | 40/41 | €3,100 | - | -€3,100 | |
| Trade receivables | 40 | €3,022 | - | -€3,022 | |
| Other amounts receivable | 41 | €78 | - | -€78 | |
| Cash at bank and in hand | 54/58 | €5,333 | €223,246 | +€217,913 | +4,086% |
| Deferred charges and accrued income | 490/1 | €3,854 | €7,197 | +€3,343 | +86.8% |
| Total equity and liabilities | 10/49 | €1,807,459 | €2,239,453 | +€431,994 | +23.9% |
| Equity | 10/15 | €1,565,018 | €1,906,622 | +€341,604 | +21.8% |
| Contributions | 10/11 | €508,000 | €508,000 | = | 0.0% |
| Contributions outside capital | 11 | €508,000 | €508,000 | = | 0.0% |
| Other | 1109/19 | €508,000 | €508,000 | = | 0.0% |
| Reserves | 13 | €1,057,018 | €1,398,622 | +€341,604 | +32.3% |
| Tax-exempt reserves | 132 | €605,275 | €729,739 | +€124,464 | +20.6% |
| Distributable reserves | 133 | €451,743 | €668,883 | +€217,140 | +48.1% |
| Provisions and deferred taxes | 16 | €201,758 | €243,246 | +€41,488 | +20.6% |
| Deferred taxes | 168 | €201,758 | €243,246 | +€41,488 | +20.6% |
| Amounts payable | 17/49 | €40,683 | €89,584 | +€48,902 | +120% |
| Amounts payable after more than one year | 17 | - | €4,500 | +€4,500 | |
| Other amounts payable | 178/9 | - | €4,500 | +€4,500 | |
| Amounts payable within one year | 42/48 | €40,683 | €82,321 | +€41,638 | +102% |
| Trade debts | 44 | €15,018 | €987 | -€14,031 | -93.4% |
| Suppliers | 440/4 | €15,018 | €987 | -€14,031 | -93.4% |
| Taxes, remuneration and social security | 45 | €25,665 | €81,334 | +€55,669 | +217% |
| Taxes | 450/3 | €25,665 | €81,334 | +€55,669 | +217% |
| Accrued charges and deferred income | 492/3 | - | €2,764 | +€2,764 | |
| Non-recurring operating income | 76A | - | €353,105 | +€353,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,736 | €7,163 | -€30,574 | -81.0% |
| Other operating charges | 640/8 | €15,962 | €11,862 | -€4,100 | -25.7% |
| Gross operating margin | 9900 | €90,379 | €486,450 | +€396,071 | +438% |
| Operating profit (loss) | 9901 | €36,681 | €467,425 | +€430,744 | +1,174% |
| Financial income | 75/76B | €30,332 | - | -€30,332 | |
| Recurring financial income | 75 | €30,332 | - | -€30,332 | |
| Financial charges | 65/66B | €4,003 | €1,265 | -€2,738 | -68.4% |
| Recurring financial charges | 65 | €4,003 | €1,265 | -€2,738 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €63,010 | €466,160 | +€403,150 | +640% |
| Transfer from deferred taxes | 780 | €9,913 | €46,788 | +€36,875 | +372% |
| Transfer to deferred taxes | 680 | - | €88,276 | +€88,276 | |
| Income taxes | 67/77 | €25,665 | €83,067 | +€57,402 | +224% |
| Profit (loss) for the period | 9904 | €47,258 | €341,604 | +€294,346 | +623% |
| Transfer from tax-exempt reserves | 789 | €29,740 | €140,364 | +€110,624 | +372% |
| Transfer to tax-exempt reserves | 689 | - | €264,829 | +€264,829 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,998 | €217,140 | +€140,142 | +182% |
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 25 October 2026 via checked.be.