Sandwich Man: 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 Man
Largest movements
- Tangible fixed assets -€4,169
down €4,169 (-3.3%), from €125,707 to €121,538
of which Land and buildings: -€2,841
- Current portion of long-term debt -€3,083
no longer reported in 2025 (was €3,083)
- Gross operating margin +€7,684
up €7,684 (+301%), from €2,552 to €10,235
- Depreciation +€3,092
up €3,092 (+209%), from €1,477 to €4,569
- Financial charges +€3,026
up €3,026 (+302%), from €1,002 to €4,028
- Other operating charges +€2,038
up €2,038 (+741%), from €275 to €2,313
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 | €129,000 | €126,002 | -€2,998 | -2.3% |
| Fixed assets | 21/28 | €127,578 | €123,009 | -€4,569 | -3.6% |
| Intangible fixed assets | 21 | €1,871 | €1,471 | -€400 | -21.4% |
| Tangible fixed assets | 22/27 | €125,707 | €121,538 | -€4,169 | -3.3% |
| Land and buildings | 22 | €117,445 | €114,604 | -€2,841 | -2.4% |
| Plant, machinery and equipment | 23 | €3,967 | €3,557 | -€410 | -10.3% |
| Furniture and vehicles | 24 | €4,294 | €3,376 | -€918 | -21.4% |
| Current assets | 29/58 | €1,422 | €2,993 | +€1,571 | +110% |
| Stocks and contracts in progress | 3 | €556 | €557 | +€1 | +0.2% |
| Stocks | 30/36 | €556 | €557 | +€1 | +0.2% |
| Amounts receivable within one year | 40/41 | - | €44 | +€44 | |
| Other amounts receivable | 41 | - | €44 | +€44 | |
| Cash at bank and in hand | 54/58 | €867 | €2,024 | +€1,157 | +133% |
| Deferred charges and accrued income | 490/1 | - | €369 | +€369 | |
| Total equity and liabilities | 10/49 | €129,000 | €126,002 | -€2,998 | -2.3% |
| Equity | 10/15 | €1,298 | €567 | -€731 | -56.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€202 | -€933 | -€731 | -362% |
| Amounts payable | 17/49 | €127,702 | €125,435 | -€2,267 | -1.8% |
| Amounts payable after more than one year | 17 | €91,416 | €91,416 | = | 0.0% |
| Financial debts | 170/4 | €91,416 | €91,416 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,286 | €34,019 | -€2,267 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €3,083 | - | -€3,083 | |
| Trade debts | 44 | €1,683 | €2,468 | +€785 | +46.6% |
| Suppliers | 440/4 | €1,683 | €2,468 | +€785 | +46.6% |
| Taxes, remuneration and social security | 45 | €301 | €294 | -€6 | -2.1% |
| Taxes | 450/3 | €301 | €294 | -€6 | -2.1% |
| Other amounts payable | 47/48 | €31,220 | €31,257 | +€38 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,477 | €4,569 | +€3,092 | +209% |
| Other operating charges | 640/8 | €275 | €2,313 | +€2,038 | +741% |
| Gross operating margin | 9900 | €2,552 | €10,235 | +€7,684 | +301% |
| Operating profit (loss) | 9901 | €800 | €3,353 | +€2,554 | +319% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,002 | €4,028 | +€3,026 | +302% |
| Recurring financial charges | 65 | €1,002 | €4,028 | +€3,026 | +302% |
| Profit (loss) for the period before taxes | 9903 | -€202 | -€674 | -€472 | -234% |
| Income taxes | 67/77 | - | €57 | +€57 | |
| Profit (loss) for the period | 9904 | -€202 | -€731 | -€529 | -262% |
| Profit (loss) for the period to be appropriated | 9905 | -€202 | -€731 | -€529 | -262% |
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 13 October 2026 via checked.be.