SANDETY: 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.
SANDETY
Largest movements
- Tangible fixed assets -€7,482
down €7,482 (-27.1%), from €27,643 to €20,162
of which Plant, machinery and equipment: -€6,339
- Cash +€6,374
up €6,374 (+2.1%), from €299,964 to €306,338
mainly Net result for the year (+€38,284) and Depreciation (+€7,482)
- Reserves +€19,376
up €19,376 (+4.6%), from €424,026 to €443,402
of which Distributable reserves: +€19,376
- Trade debts -€10,552
down €10,552 (-54.7%), from €19,290 to €8,738
- Tax, wage and social debts -€7,024
down €7,024 (-29.9%), from €23,486 to €16,462
of which Taxes: -€7,386
- Gross operating margin +€25,354
up €25,354 (+21.6%), from €117,562 to €142,916
- Taxes +€7,758
up €7,758 (+59.0%), from €13,154 to €20,912
- Staff costs +€1,854
up €1,854 (+2.4%), from €75,820 to €77,674
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 | €487,526 | €488,119 | +€593 | +0.1% |
| Fixed assets | 21/28 | €27,643 | €20,162 | -€7,482 | -27.1% |
| Tangible fixed assets | 22/27 | €27,643 | €20,162 | -€7,482 | -27.1% |
| Plant, machinery and equipment | 23 | €25,116 | €18,777 | -€6,339 | -25.2% |
| Furniture and vehicles | 24 | €80 | - | -€80 | |
| Other tangible fixed assets | 26 | €2,447 | €1,384 | -€1,063 | -43.4% |
| Current assets | 29/58 | €459,883 | €467,957 | +€8,074 | +1.8% |
| Amounts receivable within one year | 40/41 | €58,534 | €60,016 | +€1,481 | +2.5% |
| Trade receivables | 40 | €37,848 | €48,894 | +€11,046 | +29.2% |
| Other amounts receivable | 41 | €20,687 | €11,121 | -€9,565 | -46.2% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €299,964 | €306,338 | +€6,374 | +2.1% |
| Deferred charges and accrued income | 490/1 | €1,385 | €1,604 | +€219 | +15.8% |
| Total equity and liabilities | 10/49 | €487,526 | €488,119 | +€593 | +0.1% |
| Equity | 10/15 | €442,626 | €462,002 | +€19,376 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €424,026 | €443,402 | +€19,376 | +4.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,000 | €19,000 | = | 0.0% |
| Distributable reserves | 133 | €403,166 | €422,542 | +€19,376 | +4.8% |
| Amounts payable | 17/49 | €44,901 | €26,117 | -€18,783 | -41.8% |
| Amounts payable within one year | 42/48 | €44,901 | €26,117 | -€18,783 | -41.8% |
| Trade debts | 44 | €19,290 | €8,738 | -€10,552 | -54.7% |
| Suppliers | 440/4 | €19,290 | €8,738 | -€10,552 | -54.7% |
| Taxes, remuneration and social security | 45 | €23,486 | €16,462 | -€7,024 | -29.9% |
| Taxes | 450/3 | €12,383 | €4,997 | -€7,386 | -59.6% |
| Remuneration and social security | 454/9 | €11,102 | €11,465 | +€363 | +3.3% |
| Other amounts payable | 47/48 | €2,125 | €918 | -€1,207 | -56.8% |
| Remuneration, social security and pensions | 62 | €75,820 | €77,674 | +€1,854 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,033 | €7,482 | -€552 | -6.9% |
| Other operating charges | 640/8 | €930 | €995 | +€65 | +7.0% |
| Gross operating margin | 9900 | €117,562 | €142,916 | +€25,354 | +21.6% |
| Operating profit (loss) | 9901 | €32,778 | €56,764 | +€23,986 | +73.2% |
| Financial income | 75/76B | €1,690 | €2,501 | +€812 | +48.0% |
| Recurring financial income | 75 | €1,690 | €2,501 | +€812 | +48.0% |
| Financial charges | 65/66B | €119 | €69 | -€50 | -42.0% |
| Recurring financial charges | 65 | €119 | €69 | -€50 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €34,349 | €59,197 | +€24,848 | +72.3% |
| Income taxes | 67/77 | €13,154 | €20,912 | +€7,758 | +59.0% |
| Profit (loss) for the period | 9904 | €21,195 | €38,284 | +€17,090 | +80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,195 | €38,284 | +€17,090 | +80.6% |
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 18 October 2026 via checked.be.