SANDWICH & CIE: 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.
SANDWICH & CIE
Largest movements
- Cash -€31,013
down €31,013 (-83.8%), from €36,991 to €5,978
mainly Net result for the year (-€35,507) and Investment in fixed assets (net) (-€25,723)
- Tangible fixed assets +€16,515
up €16,515 (+198%), from €8,351 to €24,866
of which Furniture and vehicles: +€21,439
- Profit (loss) carried forward -€35,507
down €35,507 (-1,705%), from -€2,082 to -€37,589
- Other debts +€12,301
up €12,301 (+57.7%), from €21,315 to €33,616
- Tax, wage and social debts +€3,368
up €3,368 (+24.8%), from €13,554 to €16,922
of which Remuneration and social security: +€2,885
- Accrued charges and deferred income +€2,800
new in 2025: €2,800
- Trade debts +€1,471
up €1,471 (+10.9%), from €13,544 to €15,016
- Gross operating margin -€21,457
down €21,457 (-29.7%), from €72,129 to €50,672
- Staff costs +€20,695
up €20,695 (+39.6%), from €52,304 to €72,999
- Depreciation +€4,034
up €4,034 (+72.3%), from €5,582 to €9,616
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 | €51,332 | €35,765 | -€15,567 | -30.3% |
| Formation expenses | 20 | €659 | €252 | -€407 | -61.8% |
| Fixed assets | 21/28 | €8,351 | €24,866 | +€16,515 | +198% |
| Tangible fixed assets | 22/27 | €8,351 | €24,866 | +€16,515 | +198% |
| Plant, machinery and equipment | 23 | €6,956 | €2,919 | -€4,037 | -58.0% |
| Furniture and vehicles | 24 | - | €21,439 | +€21,439 | |
| Other tangible fixed assets | 26 | €1,395 | €509 | -€887 | -63.5% |
| Current assets | 29/58 | €42,321 | €10,647 | -€31,675 | -74.8% |
| Stocks and contracts in progress | 3 | €2,286 | €2,560 | +€274 | +12.0% |
| Stocks | 30/36 | €2,286 | €2,560 | +€274 | +12.0% |
| Amounts receivable within one year | 40/41 | €1,610 | €1,117 | -€493 | -30.6% |
| Trade receivables | 40 | €1,610 | €1,117 | -€493 | -30.6% |
| Cash at bank and in hand | 54/58 | €36,991 | €5,978 | -€31,013 | -83.8% |
| Deferred charges and accrued income | 490/1 | €1,434 | €992 | -€442 | -30.8% |
| Total equity and liabilities | 10/49 | €51,332 | €35,765 | -€15,567 | -30.3% |
| Equity | 10/15 | €2,918 | -€32,589 | -€35,507 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,082 | -€37,589 | -€35,507 | -1,705% |
| Amounts payable | 17/49 | €48,414 | €68,353 | +€19,940 | +41.2% |
| Amounts payable within one year | 42/48 | €48,414 | €65,553 | +€17,140 | +35.4% |
| Trade debts | 44 | €13,544 | €15,016 | +€1,471 | +10.9% |
| Suppliers | 440/4 | €13,544 | €15,016 | +€1,471 | +10.9% |
| Taxes, remuneration and social security | 45 | €13,554 | €16,922 | +€3,368 | +24.8% |
| Taxes | 450/3 | €2,666 | €3,149 | +€483 | +18.1% |
| Remuneration and social security | 454/9 | €10,888 | €13,773 | +€2,885 | +26.5% |
| Other amounts payable | 47/48 | €21,315 | €33,616 | +€12,301 | +57.7% |
| Accrued charges and deferred income | 492/3 | - | €2,800 | +€2,800 | |
| Remuneration, social security and pensions | 62 | €52,304 | €72,999 | +€20,695 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,582 | €9,616 | +€4,034 | +72.3% |
| Other operating charges | 640/8 | €1,009 | €1,562 | +€553 | +54.8% |
| Gross operating margin | 9900 | €72,129 | €50,672 | -€21,457 | -29.7% |
| Operating profit (loss) | 9901 | €13,234 | -€33,505 | -€46,739 | |
| Financial income | 75/76B | €11 | €7 | -€4 | -35.3% |
| Recurring financial income | 75 | €11 | €7 | -€4 | -35.3% |
| Financial charges | 65/66B | €1,696 | €1,549 | -€147 | -8.7% |
| Recurring financial charges | 65 | €1,696 | €1,549 | -€147 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €11,548 | -€35,047 | -€46,596 | |
| Income taxes | 67/77 | - | €459 | +€459 | |
| Profit (loss) for the period | 9904 | €11,548 | -€35,507 | -€47,055 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,548 | -€35,507 | -€47,055 |
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 30 October 2026 via checked.be.