SANDRA b BELGIUM: what changed
SANDRA b BELGIUM
Largest movements
- Cash -€13,255
down €13,255 (-49.5%), from €26,805 to €13,550
mainly Net result for the year (-€22,575) and Tax, wage and social debts (-€11,626)
- Receivables within one year +€8,096
up €8,096 (+43.4%), from €18,675 to €26,771
of which Trade receivables: +€8,611
- Stocks and contracts -€3,582
down €3,582 (-25.4%), from €14,121 to €10,540
- Trade debts +€31,397
up €31,397 (+209%), from €15,025 to €46,421
- Profit (loss) carried forward -€20,575
down €20,575 (-31.5%), from -€65,338 to -€85,914
- Tax, wage and social debts -€11,626
down €11,626 (-26.2%), from €44,300 to €32,674
of which Taxes: -€6,770
- Debts after one year -€6,456
down €6,456 (-12.7%), from €50,903 to €44,447
- Reserves -€2,000
no longer reported in 2025 (was €2,000)
- Gross operating margin -€21,100
down €21,100 (-25.3%), from €83,519 to €62,419
- Write-downs +€1,969
up €1,969 (+96.8%), from €2,034 to €4,003
- Staff costs -€1,738
down €1,738 (-2.3%), from €77,185 to €75,447
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,949 | €58,689 | -€9,260 | -13.6% |
| Fixed assets | 21/28 | €4,578 | €4,007 | -€571 | -12.5% |
| Financial fixed assets | 28 | €4,578 | €4,007 | -€571 | -12.5% |
| Current assets | 29/58 | €63,371 | €54,682 | -€8,689 | -13.7% |
| Stocks and contracts in progress | 3 | €14,121 | €10,540 | -€3,582 | -25.4% |
| Stocks | 30/36 | €14,121 | €10,540 | -€3,582 | -25.4% |
| Amounts receivable within one year | 40/41 | €18,675 | €26,771 | +€8,096 | +43.4% |
| Trade receivables | 40 | €18,121 | €26,732 | +€8,611 | +47.5% |
| Other amounts receivable | 41 | €554 | €38 | -€515 | -93.1% |
| Cash at bank and in hand | 54/58 | €26,805 | €13,550 | -€13,255 | -49.5% |
| Deferred charges and accrued income | 490/1 | €3,771 | €3,823 | +€52 | +1.4% |
| Total equity and liabilities | 10/49 | €67,949 | €58,689 | -€9,260 | -13.6% |
| Equity | 10/15 | -€43,338 | -€65,914 | -€22,575 | -52.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | -€65,338 | -€85,914 | -€20,575 | -31.5% |
| Amounts payable | 17/49 | €111,288 | €124,603 | +€13,315 | +12.0% |
| Amounts payable after more than one year | 17 | €50,903 | €44,447 | -€6,456 | -12.7% |
| Other amounts payable | 178/9 | €50,903 | €44,447 | -€6,456 | -12.7% |
| Amounts payable within one year | 42/48 | €59,384 | €79,155 | +€19,771 | +33.3% |
| Trade debts | 44 | €15,025 | €46,421 | +€31,397 | +209% |
| Suppliers | 440/4 | €15,025 | €46,421 | +€31,397 | +209% |
| Taxes, remuneration and social security | 45 | €44,300 | €32,674 | -€11,626 | -26.2% |
| Taxes | 450/3 | €22,556 | €15,786 | -€6,770 | -30.0% |
| Remuneration and social security | 454/9 | €21,744 | €16,889 | -€4,856 | -22.3% |
| Other amounts payable | 47/48 | €60 | €60 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | €35 | - | -€35 | |
| Remuneration, social security and pensions | 62 | €77,185 | €75,447 | -€1,738 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137 | - | -€137 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,034 | €4,003 | +€1,969 | +96.8% |
| Other operating charges | 640/8 | €525 | €1,242 | +€717 | +137% |
| Gross operating margin | 9900 | €83,519 | €62,419 | -€21,100 | -25.3% |
| Operating profit (loss) | 9901 | €3,638 | -€18,274 | -€21,912 | |
| Financial income | 75/76B | €19 | €4 | -€15 | -76.8% |
| Recurring financial income | 75 | €19 | €4 | -€15 | -76.8% |
| Financial charges | 65/66B | €4,667 | €4,156 | -€511 | -10.9% |
| Recurring financial charges | 65 | €4,667 | €4,156 | -€511 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,010 | -€22,425 | -€21,415 | -2,120% |
| Income taxes | 67/77 | €159 | €150 | -€9 | -5.6% |
| Profit (loss) for the period | 9904 | -€1,169 | -€22,575 | -€21,406 | -1,831% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,169 | -€22,575 | -€21,406 | -1,831% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.