SANDRAMAC: what changed
Two fiscal 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.
SANDRAMAC
Largest movements
- Receivables within one year +€68,702
up €68,702 (+1702.3%), from €4,036 to €72,737
of which Other amounts receivable: +€68,000
- Tangible fixed assets -€20,202
down €20,202 (-5.4%), from €377,085 to €356,883
of which Land and buildings: -€19,189
- Profit (loss) carried forward +€41,483
up €41,483 (+184.6%), from €22,475 to €63,958
- Short-term financial debts +€15,990
up €15,990 (+1447.0%), from €1,105 to €17,095
- Other debts -€10,000
down €10,000 (-7.7%), from €130,577 to €120,577
- Gross operating margin +€17,155
up €17,155 (+36.4%), from €47,133 to €64,288
- Other operating charges -€758
down €758 (-23.2%), from €3,271 to €2,513
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 | €382,049 | €430,285 | +€48,235 | +12.6% |
| Fixed assets | 21/28 | €377,085 | €356,883 | -€20,202 | -5.4% |
| Tangible fixed assets | 22/27 | €377,085 | €356,883 | -€20,202 | -5.4% |
| Land and buildings | 22 | €375,098 | €355,909 | -€19,189 | -5.1% |
| Plant, machinery and equipment | 23 | €1,254 | €974 | -€281 | -22.4% |
| Furniture and vehicles | 24 | €732 | €0 | -€732 | -100.0% |
| Current assets | 29/58 | €4,965 | €73,402 | +€68,437 | +1378.5% |
| Amounts receivable within one year | 40/41 | €4,036 | €72,737 | +€68,702 | +1702.3% |
| Trade receivables | 40 | €1,360 | €2,062 | +€702 | +51.6% |
| Other amounts receivable | 41 | €2,676 | €70,676 | +€68,000 | +2541.2% |
| Cash at bank and in hand | 54/58 | €665 | €665 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €264 | €0 | -€264 | -100.0% |
| Total equity and liabilities | 10/49 | €382,049 | €430,285 | +€48,235 | +12.6% |
| Equity | 10/15 | €247,624 | €289,107 | +€41,483 | +16.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €163,149 | €163,149 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,955 | €20,955 | = | 0.0% |
| Distributable reserves | 133 | €135,994 | €135,994 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,475 | €63,958 | +€41,483 | +184.6% |
| Amounts payable | 17/49 | €134,426 | €141,178 | +€6,752 | +5.0% |
| Amounts payable within one year | 42/48 | €134,426 | €141,178 | +€6,752 | +5.0% |
| Financial debts | 43 | €1,105 | €17,095 | +€15,990 | +1447.0% |
| Credit institutions | 430/8 | €1,105 | €17,095 | +€15,990 | +1447.0% |
| Trade debts | 44 | €2,123 | €2,885 | +€762 | +35.9% |
| Suppliers | 440/4 | €2,123 | €2,885 | +€762 | +35.9% |
| Taxes, remuneration and social security | 45 | €621 | €621 | = | 0.0% |
| Taxes | 450/3 | €621 | €621 | = | 0.0% |
| Other amounts payable | 47/48 | €130,577 | €120,577 | -€10,000 | -7.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,500 | €0 | -€2,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,811 | €20,202 | -€609 | -2.9% |
| Other operating charges | 640/8 | €3,271 | €2,513 | -€758 | -23.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €47,133 | €64,288 | +€17,155 | +36.4% |
| Operating profit (loss) | 9901 | €23,051 | €41,573 | +€18,522 | +80.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €270 | €90 | -€180 | -66.7% |
| Recurring financial charges | 65 | €270 | €90 | -€180 | -66.7% |
| Profit (loss) for the period before taxes | 9903 | €22,780 | €41,483 | +€18,703 | +82.1% |
| Income taxes | 67/77 | €306 | €0 | -€306 | -100.0% |
| Profit (loss) for the period | 9904 | €22,475 | €41,483 | +€19,008 | +84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,475 | €41,483 | +€19,008 | +84.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.