SANDGEMS: 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.
SANDGEMS
Largest movements
- Stocks and contracts +€146,714
up €146,714 (+72.7%), from €201,915 to €348,629
- Cash -€76,335
down €76,335 (-25.1%), from €304,510 to €228,175
mainly Stocks and contracts (-€146,714) and Current investments (-€12,324)
- Receivables within one year -€14,986
down €14,986 (-23.0%), from €65,174 to €50,188
of which Other amounts receivable: -€10,471
- Current investments +€12,324
up €12,324 (+62.3%), from €19,794 to €32,118
- Reserves +€66,507
up €66,507 (+13.5%), from €494,424 to €560,931
- Tax, wage and social debts +€14,027
up €14,027 (+547%), from €2,566 to €16,594
of which Taxes: +€14,156
- Trade debts -€11,857
down €11,857 (-14.4%), from €82,283 to €70,426
- Gross operating margin +€48,364
up €48,364 (+128%), from €37,682 to €86,046
- Taxes +€16,701
up €16,701 (+175%), from €9,529 to €26,230
- Financial income +€13,017
up €13,017 (+315%), from €4,134 to €17,151
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.
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,632 | €667,668 | +€67,036 | +11.2% |
| Fixed assets | 21/28 | €9,239 | €8,558 | -€681 | -7.4% |
| Tangible fixed assets | 22/27 | €5,839 | €5,158 | -€681 | -11.7% |
| Plant, machinery and equipment | 23 | €106 | €71 | -€35 | -33.3% |
| Furniture and vehicles | 24 | €5,733 | €5,087 | -€645 | -11.3% |
| Financial fixed assets | 28 | €3,400 | €3,400 | = | 0.0% |
| Current assets | 29/58 | €591,393 | €659,109 | +€67,716 | +11.5% |
| Stocks and contracts in progress | 3 | €201,915 | €348,629 | +€146,714 | +72.7% |
| Stocks | 30/36 | €201,915 | €348,629 | +€146,714 | +72.7% |
| Amounts receivable within one year | 40/41 | €65,174 | €50,188 | -€14,986 | -23.0% |
| Trade receivables | 40 | €54,703 | €50,188 | -€4,515 | -8.3% |
| Other amounts receivable | 41 | €10,471 | - | -€10,471 | |
| Current investments | 50/53 | €19,794 | €32,118 | +€12,324 | +62.3% |
| Cash at bank and in hand | 54/58 | €304,510 | €228,175 | -€76,335 | -25.1% |
| Total equity and liabilities | 10/49 | €600,632 | €667,668 | +€67,036 | +11.2% |
| Equity | 10/15 | €513,016 | €579,523 | +€66,507 | +13.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €494,424 | €560,931 | +€66,507 | +13.5% |
| Distributable reserves | 133 | €494,424 | €560,931 | +€66,507 | +13.5% |
| Amounts payable | 17/49 | €87,616 | €88,145 | +€529 | +0.6% |
| Amounts payable within one year | 42/48 | €87,616 | €88,145 | +€529 | +0.6% |
| Trade debts | 44 | €82,283 | €70,426 | -€11,857 | -14.4% |
| Suppliers | 440/4 | €82,283 | €70,426 | -€11,857 | -14.4% |
| Taxes, remuneration and social security | 45 | €2,566 | €16,594 | +€14,027 | +547% |
| Taxes | 450/3 | €2,437 | €16,594 | +€14,156 | +581% |
| Remuneration and social security | 454/9 | €129 | - | -€129 | |
| Other amounts payable | 47/48 | €2,767 | €1,126 | -€1,641 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €581 | €1,377 | +€796 | +137% |
| Other operating charges | 640/8 | €118 | €558 | +€440 | +373% |
| Gross operating margin | 9900 | €37,682 | €86,046 | +€48,364 | +128% |
| Operating profit (loss) | 9901 | €36,983 | €84,111 | +€47,128 | +127% |
| Financial income | 75/76B | €4,134 | €17,151 | +€13,017 | +315% |
| Recurring financial income | 75 | €4,134 | €17,151 | +€13,017 | +315% |
| Financial charges | 65/66B | €8,655 | €8,525 | -€130 | -1.5% |
| Recurring financial charges | 65 | €8,655 | €8,525 | -€130 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €32,462 | €92,737 | +€60,275 | +186% |
| Income taxes | 67/77 | €9,529 | €26,230 | +€16,701 | +175% |
| Profit (loss) for the period | 9904 | €22,933 | €66,507 | +€43,574 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €22,933 | €66,507 | +€43,574 | +190% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.