SanDess Management: 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.
SanDess Management
Largest movements
- Cash +€110,600
up €110,600 (+52.4%), from €211,106 to €321,706
mainly Other debts (+€492,865) and Net result for the year (+€178,998)
- Receivables within one year +€20,425
up €20,425 (+7.9%), from €258,962 to €279,388
of which Other amounts receivable: +€18,913
- Other debts +€492,865
up €492,865 (+365,085%), from €135 to €493,000
- Profit (loss) carried forward -€401,002
down €401,002 (-99.6%), from €402,544 to €1,542
- Tax, wage and social debts +€40,395
up €40,395 (+61.7%), from €65,500 to €105,895
- Gross operating margin +€11,062
up €11,062 (+5.2%), from €211,420 to €222,482
- Financial income -€2,534
down €2,534 (-17.0%), from €14,928 to €12,394
- Taxes +€2,312
up €2,312 (+4.5%), from €51,688 to €54,000
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 | €472,508 | €605,072 | +€132,564 | +28.1% |
| Fixed assets | 21/28 | €947 | €2,413 | +€1,465 | +155% |
| Tangible fixed assets | 22/27 | €947 | €2,413 | +€1,465 | +155% |
| Furniture and vehicles | 24 | €947 | €2,413 | +€1,465 | +155% |
| Current assets | 29/58 | €471,561 | €602,660 | +€131,099 | +27.8% |
| Amounts receivable within one year | 40/41 | €258,962 | €279,388 | +€20,425 | +7.9% |
| Trade receivables | 40 | €24,704 | €26,217 | +€1,513 | +6.1% |
| Other amounts receivable | 41 | €234,258 | €253,171 | +€18,913 | +8.1% |
| Cash at bank and in hand | 54/58 | €211,106 | €321,706 | +€110,600 | +52.4% |
| Deferred charges and accrued income | 490/1 | €1,493 | €1,566 | +€73 | +4.9% |
| Total equity and liabilities | 10/49 | €472,508 | €605,072 | +€132,564 | +28.1% |
| Equity | 10/15 | €405,544 | €4,542 | -€401,002 | -98.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,544 | €1,542 | -€401,002 | -99.6% |
| Amounts payable | 17/49 | €66,964 | €600,530 | +€533,567 | +797% |
| Amounts payable within one year | 42/48 | €66,964 | €600,530 | +€533,567 | +797% |
| Trade debts | 44 | €1,329 | €1,635 | +€306 | +23.1% |
| Suppliers | 440/4 | €1,329 | €1,635 | +€306 | +23.1% |
| Taxes, remuneration and social security | 45 | €65,500 | €105,895 | +€40,395 | +61.7% |
| Taxes | 450/3 | €65,500 | €105,895 | +€40,395 | +61.7% |
| Other amounts payable | 47/48 | €135 | €493,000 | +€492,865 | +365,085% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168 | €492 | +€324 | +194% |
| Other operating charges | 640/8 | €1,397 | €1,008 | -€389 | -27.8% |
| Gross operating margin | 9900 | €211,420 | €222,482 | +€11,062 | +5.2% |
| Operating profit (loss) | 9901 | €209,856 | €220,982 | +€11,126 | +5.3% |
| Financial income | 75/76B | €14,928 | €12,394 | -€2,534 | -17.0% |
| Recurring financial income | 75 | €14,928 | €12,394 | -€2,534 | -17.0% |
| Financial charges | 65/66B | €853 | €379 | -€474 | -55.6% |
| Recurring financial charges | 65 | €853 | €379 | -€474 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €223,931 | €232,998 | +€9,066 | +4.0% |
| Income taxes | 67/77 | €51,688 | €54,000 | +€2,312 | +4.5% |
| Profit (loss) for the period | 9904 | €172,243 | €178,998 | +€6,754 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €172,243 | €178,998 | +€6,754 | +3.9% |
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 24 October 2026 via checked.be.