SANDHU: 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.
SANDHU
Largest movements
- Receivables within one year +€6,686
up €6,686 (+132.8%), from €5,034 to €11,719
of which Other amounts receivable: +€8,140
- Tangible fixed assets -€4,347
down €4,347 (-33.2%), from €13,107 to €8,760
- Cash +€3,706
up €3,706 (+57.5%), from €6,442 to €10,148
mainly Depreciation (+€4,547) and Net result for the year (+€3,960)
- Stocks and contracts -€1,535
down €1,535 (-8.6%), from €17,798 to €16,262
- Other debts +€3,960
up €3,960, from €0 to €3,960
- Advances received -€2,985
down €2,985 (-60.3%), from €4,949 to €1,964
- Trade debts +€1,489
up €1,489 (+1321.6%), from €113 to €1,602
- Tax, wage and social debts +€1,380
up €1,380 (+63.4%), from €2,176 to €3,556
- Financial charges -€904
down €904 (-61.7%), from €1,466 to €562
- Taxes +€724
up €724 (+51.1%), from €1,416 to €2,140
- Gross operating margin -€676
down €676 (-5.3%), from €12,800 to €12,124
- Financial income +€433
up €433 (+1441.5%), from €30 to €463
- Depreciation +€163
up €163 (+3.7%), from €4,385 to €4,547
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.
Cash bridge derived
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 | €45,260 | €49,173 | +€3,913 | +8.6% |
| Fixed assets | 21/28 | €14,707 | €10,160 | -€4,547 | -30.9% |
| Intangible fixed assets | 21 | €400 | €200 | -€200 | -50.0% |
| Tangible fixed assets | 22/27 | €13,107 | €8,760 | -€4,347 | -33.2% |
| Plant, machinery and equipment | 23 | €6,382 | €4,266 | -€2,116 | -33.2% |
| Furniture and vehicles | 24 | €2,613 | €1,279 | -€1,333 | -51.0% |
| Other tangible fixed assets | 26 | €4,113 | €3,215 | -€898 | -21.8% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €30,553 | €39,013 | +€8,461 | +27.7% |
| Stocks and contracts in progress | 3 | €17,798 | €16,262 | -€1,535 | -8.6% |
| Stocks | 30/36 | €17,798 | €16,262 | -€1,535 | -8.6% |
| Amounts receivable within one year | 40/41 | €5,034 | €11,719 | +€6,686 | +132.8% |
| Trade receivables | 40 | €4,228 | €2,774 | -€1,454 | -34.4% |
| Other amounts receivable | 41 | €806 | €8,945 | +€8,140 | +1010.2% |
| Cash at bank and in hand | 54/58 | €6,442 | €10,148 | +€3,706 | +57.5% |
| Deferred charges and accrued income | 490/1 | €1,280 | €884 | -€396 | -30.9% |
| Total equity and liabilities | 10/49 | €45,260 | €49,173 | +€3,913 | +8.6% |
| Equity | 10/15 | €38,023 | €38,023 | = | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,823 | €31,823 | = | 0.0% |
| Non-distributable reserves | 130/1 | €104 | €104 | = | 0.0% |
| Reserves not available under the articles | 1311 | €104 | €104 | = | 0.0% |
| Distributable reserves | 133 | €31,719 | €31,719 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €7,237 | €11,151 | +€3,913 | +54.1% |
| Amounts payable within one year | 42/48 | €7,237 | €11,081 | +€3,844 | +53.1% |
| Trade debts | 44 | €113 | €1,602 | +€1,489 | +1321.6% |
| Suppliers | 440/4 | €113 | €1,602 | +€1,489 | +1321.6% |
| Advances received on contracts in progress | 46 | €4,949 | €1,964 | -€2,985 | -60.3% |
| Taxes, remuneration and social security | 45 | €2,176 | €3,556 | +€1,380 | +63.4% |
| Taxes | 450/3 | €2,176 | €3,556 | +€1,380 | +63.4% |
| Other amounts payable | 47/48 | €0 | €3,960 | +€3,960 | |
| Accrued charges and deferred income | 492/3 | €0 | €69 | +€69 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,385 | €4,547 | +€163 | +3.7% |
| Other operating charges | 640/8 | €1,414 | €1,378 | -€36 | -2.6% |
| Gross operating margin | 9900 | €12,800 | €12,124 | -€676 | -5.3% |
| Operating profit (loss) | 9901 | €7,001 | €6,199 | -€802 | -11.5% |
| Financial income | 75/76B | €30 | €463 | +€433 | +1441.5% |
| Recurring financial income | 75 | €30 | €463 | +€433 | +1441.5% |
| Financial charges | 65/66B | €1,466 | €562 | -€904 | -61.7% |
| Recurring financial charges | 65 | €1,466 | €562 | -€904 | -61.7% |
| Profit (loss) for the period before taxes | 9903 | €5,565 | €6,100 | +€535 | +9.6% |
| Income taxes | 67/77 | €1,416 | €2,140 | +€724 | +51.1% |
| Profit (loss) for the period | 9904 | €4,149 | €3,960 | -€189 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,149 | €3,960 | -€189 | -4.6% |
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 9 October 2026 via checked.be.