SANDSTRA: 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.
SANDSTRA
Largest movements
- Receivables within one year -€1.4m
down €1.4m (-85.1%), from €1.6m to €242,691
of which Trade receivables: -€1.4m
- Stocks and contracts +€700,166
up €700,166 (+121%), from €579,960 to €1.3m
- Cash +€560,413
up €560,413 (+1,453%), from €38,569 to €598,982
mainly Receivables within one year (+€1.4m) and Net result for the year (+€709,544)
- Deferred charges and accrued income -€266,024
down €266,024 (-97.1%), from €273,966 to €7,942
- Trade debts -€1.1m
down €1.1m (-79.3%), from €1.4m to €284,930
- Reserves +€580,527
up €580,527 (+31.4%), from €1.8m to €2.4m
- Advances received +€198,000
up €198,000 (+152%), from €130,000 to €328,000
- Debts after one year -€63,595
down €63,595 (-10.0%), from €635,714 to €572,119
of which Financial debts: -€216,545
- Staff costs +€22,654
up €22,654 (+12.7%), from €178,112 to €200,765
- Taxes -€9,181
down €9,181 (-8.1%), from €113,822 to €104,641
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 | €4,795,149 | €4,387,377 | -€407,773 | -8.5% |
| Fixed assets | 21/28 | €2,276,821 | €2,257,635 | -€19,186 | -0.8% |
| Tangible fixed assets | 22/27 | €26,821 | €7,635 | -€19,186 | -71.5% |
| Plant, machinery and equipment | 23 | €692 | €0 | -€692 | -100% |
| Furniture and vehicles | 24 | €26,129 | €7,635 | -€18,494 | -70.8% |
| Financial fixed assets | 28 | €2,250,000 | €2,250,000 | = | 0.0% |
| Current assets | 29/58 | €2,518,328 | €2,129,742 | -€388,586 | -15.4% |
| Stocks and contracts in progress | 3 | €579,960 | €1,280,126 | +€700,166 | +121% |
| Contracts in progress | 37 | €579,960 | €1,280,126 | +€700,166 | +121% |
| Amounts receivable within one year | 40/41 | €1,625,833 | €242,691 | -€1.4m | -85.1% |
| Trade receivables | 40 | €1,594,888 | €220,896 | -€1.4m | -86.1% |
| Other amounts receivable | 41 | €30,945 | €21,796 | -€9,150 | -29.6% |
| Cash at bank and in hand | 54/58 | €38,569 | €598,982 | +€560,413 | +1,453% |
| Deferred charges and accrued income | 490/1 | €273,966 | €7,942 | -€266,024 | -97.1% |
| Total equity and liabilities | 10/49 | €4,795,149 | €4,387,377 | -€407,773 | -8.5% |
| Equity | 10/15 | €2,167,607 | €2,748,134 | +€580,527 | +26.8% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €1,847,607 | €2,428,134 | +€580,527 | +31.4% |
| Distributable reserves | 133 | €1,847,607 | €2,428,134 | +€580,527 | +31.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,627,542 | €1,639,243 | -€988,299 | -37.6% |
| Amounts payable after more than one year | 17 | €635,714 | €572,119 | -€63,595 | -10.0% |
| Financial debts | 170/4 | €635,714 | €419,169 | -€216,545 | -34.1% |
| Other amounts payable | 178/9 | - | €152,950 | +€152,950 | |
| Amounts payable within one year | 42/48 | €1,981,591 | €1,067,124 | -€914,467 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €270,704 | €267,857 | -€2,846 | -1.1% |
| Financial debts | 43 | - | €25,278 | +€25,278 | |
| Credit institutions | 430/8 | - | €25,278 | +€25,278 | |
| Trade debts | 44 | €1,373,219 | €284,930 | -€1.1m | -79.3% |
| Suppliers | 440/4 | €1,373,219 | €284,930 | -€1.1m | -79.3% |
| Advances received on contracts in progress | 46 | €130,000 | €328,000 | +€198,000 | +152% |
| Taxes, remuneration and social security | 45 | €69,430 | €29,994 | -€39,436 | -56.8% |
| Taxes | 450/3 | €40,551 | €4,603 | -€35,948 | -88.6% |
| Remuneration and social security | 454/9 | €28,879 | €25,391 | -€3,488 | -12.1% |
| Other amounts payable | 47/48 | €138,238 | €131,064 | -€7,174 | -5.2% |
| Accrued charges and deferred income | 492/3 | €10,237 | €0 | -€10,237 | -100% |
| Non-recurring operating income | 76A | €1,751 | €0 | -€1,751 | -100% |
| Remuneration, social security and pensions | 62 | €178,112 | €200,765 | +€22,654 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,370 | €19,186 | -€1,184 | -5.8% |
| Other operating charges | 640/8 | €2,479 | €2,411 | -€68 | -2.8% |
| Gross operating margin | 9900 | €797,870 | €793,354 | -€4,516 | -0.6% |
| Operating profit (loss) | 9901 | €596,909 | €570,992 | -€25,917 | -4.3% |
| Financial income | 75/76B | €265,074 | €265,132 | +€57 | 0.0% |
| Recurring financial income | 75 | €265,074 | €265,132 | +€57 | 0.0% |
| Financial charges | 65/66B | €22,316 | €21,938 | -€378 | -1.7% |
| Recurring financial charges | 65 | €22,316 | €21,938 | -€378 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €839,667 | €814,185 | -€25,482 | -3.0% |
| Income taxes | 67/77 | €113,822 | €104,641 | -€9,181 | -8.1% |
| Profit (loss) for the period | 9904 | €725,845 | €709,544 | -€16,301 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €725,845 | €709,544 | -€16,301 | -2.2% |
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 24 October 2026 via checked.be.