Sandwisch: 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.
Sandwisch
Largest movements
- Current investments +€74,500
up €74,500 (+761%), from €9,795 to €84,295
- Tangible fixed assets -€28,226
down €28,226 (-8.7%), from €323,184 to €294,958
of which Land and buildings: -€26,982
- Cash +€26,942
up €26,942 (+64.8%), from €41,570 to €68,512
mainly Net result for the year (+€51,516) and Investment in fixed assets (net) (+€19,700)
- Receivables within one year -€7,985
down €7,985 (-55.0%), from €14,507 to €6,522
of which Other amounts receivable: -€5,644
- Reserves +€51,516
up €51,516 (+47.0%), from €109,572 to €161,088
of which Distributable reserves: +€51,516
- Debts after one year -€16,589
down €16,589 (-6.7%), from €245,922 to €229,333
- Tax, wage and social debts +€15,288
up €15,288 (+161%), from €9,514 to €24,802
of which Taxes: +€15,288
- Trade debts +€11,967
up €11,967 (+736%), from €1,626 to €13,594
- Gross operating margin +€39,049
up €39,049 (+65.0%), from €60,093 to €99,143
- Depreciation -€38,636
down €38,636 (-81.9%), from €47,163 to €8,527
- Taxes +€22,767
up €22,767 (+507%), from €4,492 to €27,259
- Financial charges +€6,217
up €6,217 (+318%), from €1,954 to €8,171
- Other operating charges +€994
up €994 (+31.6%), from €3,150 to €4,144
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 | €391,666 | €456,495 | +€64,829 | +16.6% |
| Fixed assets | 21/28 | €323,184 | €294,958 | -€28,226 | -8.7% |
| Tangible fixed assets | 22/27 | €323,184 | €294,958 | -€28,226 | -8.7% |
| Land and buildings | 22 | €321,940 | €294,958 | -€26,982 | -8.4% |
| Furniture and vehicles | 24 | €1,245 | €0 | -€1,245 | -100% |
| Current assets | 29/58 | €68,482 | €161,537 | +€93,056 | +136% |
| Amounts receivable within one year | 40/41 | €14,507 | €6,522 | -€7,985 | -55.0% |
| Trade receivables | 40 | €8,863 | €6,522 | -€2,341 | -26.4% |
| Other amounts receivable | 41 | €5,644 | €0 | -€5,644 | -100% |
| Current investments | 50/53 | €9,795 | €84,295 | +€74,500 | +761% |
| Cash at bank and in hand | 54/58 | €41,570 | €68,512 | +€26,942 | +64.8% |
| Deferred charges and accrued income | 490/1 | €2,609 | €2,208 | -€401 | -15.4% |
| Total equity and liabilities | 10/49 | €391,666 | €456,495 | +€64,829 | +16.6% |
| Equity | 10/15 | €115,772 | €167,288 | +€51,516 | +44.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €109,572 | €161,088 | +€51,516 | +47.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €109,572 | €161,088 | +€51,516 | +47.0% |
| Amounts payable | 17/49 | €275,894 | €289,208 | +€13,314 | +4.8% |
| Amounts payable after more than one year | 17 | €245,922 | €229,333 | -€16,589 | -6.7% |
| Financial debts | 170/4 | €245,922 | €229,333 | -€16,589 | -6.7% |
| Amounts payable within one year | 42/48 | €29,972 | €59,870 | +€29,898 | +99.8% |
| Current portion of amounts payable after more than one year | 42 | €17,162 | €17,661 | +€499 | +2.9% |
| Trade debts | 44 | €1,626 | €13,594 | +€11,967 | +736% |
| Suppliers | 440/4 | €1,626 | €13,594 | +€11,967 | +736% |
| Taxes, remuneration and social security | 45 | €9,514 | €24,802 | +€15,288 | +161% |
| Taxes | 450/3 | €9,514 | €24,802 | +€15,288 | +161% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,670 | €3,814 | +€2,144 | +128% |
| Accrued charges and deferred income | 492/3 | - | €4 | +€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,163 | €8,527 | -€38,636 | -81.9% |
| Other operating charges | 640/8 | €3,150 | €4,144 | +€994 | +31.6% |
| Gross operating margin | 9900 | €60,093 | €99,143 | +€39,049 | +65.0% |
| Operating profit (loss) | 9901 | €9,780 | €86,472 | +€76,691 | +784% |
| Financial income | 75/76B | €1,318 | €474 | -€843 | -64.0% |
| Recurring financial income | 75 | €1,318 | €474 | -€843 | -64.0% |
| Financial charges | 65/66B | €1,954 | €8,171 | +€6,217 | +318% |
| Recurring financial charges | 65 | €1,954 | €8,171 | +€6,217 | +318% |
| Profit (loss) for the period before taxes | 9903 | €9,144 | €78,775 | +€69,631 | +762% |
| Income taxes | 67/77 | €4,492 | €27,259 | +€22,767 | +507% |
| Profit (loss) for the period | 9904 | €4,652 | €51,516 | +€46,864 | +1,007% |
| Profit (loss) for the period to be appropriated | 9905 | €4,652 | €51,516 | +€46,864 | +1,007% |
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 22 October 2026 via checked.be.