Sandwiske: 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.
Sandwiske
Largest movements
- Stocks and contracts -€50,945
down €50,945 (-85.4%), from €59,672 to €8,727
- Cash -€27,372
down €27,372 (-93.1%), from €29,407 to €2,036
mainly Investment in fixed assets (net) (-€16,280) and Other debts (-€16,085)
- Tangible fixed assets +€16,280
up €16,280 (+30.9%), from €52,733 to €69,014
of which Land and buildings: +€11,599
- Receivables within one year +€12,878
up €12,878 (+616%), from €2,090 to €14,968
of which Other amounts receivable: +€13,257
- Other debts -€16,085
down €16,085 (-93.6%), from €17,190 to €1,105
- Debts after one year -€12,143
down €12,143 (-17.8%), from €68,311 to €56,169
- Profit (loss) carried forward -€9,356
down €9,356 (-19.8%), from -€47,188 to -€56,545
- Tax, wage and social debts -€6,693
down €6,693 (-40.3%), from €16,599 to €9,906
of which Taxes: -€10,514
- Short-term financial debts -€5,173
no longer reported in 2025 (was €5,173)
- Gross operating margin -€70,068
down €70,068 (-57.3%), from €122,322 to €52,254
- Taxes -€13,829
no longer reported in 2025 (was €13,829)
- Depreciation -€11,463
no longer reported in 2025 (was €11,463)
- Staff costs +€6,182
up €6,182 (+13.9%), from €44,521 to €50,703
- Financial charges -€2,445
down €2,445 (-27.7%), from €8,843 to €6,398
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 | €145,095 | €94,744 | -€50,350 | -34.7% |
| Fixed assets | 21/28 | €52,733 | €69,014 | +€16,280 | +30.9% |
| Tangible fixed assets | 22/27 | €52,733 | €69,014 | +€16,280 | +30.9% |
| Land and buildings | 22 | €51,384 | €62,983 | +€11,599 | +22.6% |
| Plant, machinery and equipment | 23 | €693 | €6,030 | +€5,337 | +770% |
| Furniture and vehicles | 24 | €656 | - | -€656 | |
| Current assets | 29/58 | €92,361 | €25,731 | -€66,631 | -72.1% |
| Stocks and contracts in progress | 3 | €59,672 | €8,727 | -€50,945 | -85.4% |
| Stocks | 30/36 | €59,672 | €8,727 | -€50,945 | -85.4% |
| Amounts receivable within one year | 40/41 | €2,090 | €14,968 | +€12,878 | +616% |
| Trade receivables | 40 | €1,341 | €961 | -€379 | -28.3% |
| Other amounts receivable | 41 | €749 | €14,006 | +€13,257 | +1,769% |
| Cash at bank and in hand | 54/58 | €29,407 | €2,036 | -€27,372 | -93.1% |
| Deferred charges and accrued income | 490/1 | €1,192 | - | -€1,192 | |
| Total equity and liabilities | 10/49 | €145,095 | €94,744 | -€50,350 | -34.7% |
| Equity | 10/15 | €10,516 | €1,160 | -€9,356 | -89.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | - | €18,600 | +€18,600 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €39,105 | €39,105 | = | 0.0% |
| Tax-exempt reserves | 132 | €68 | €68 | = | 0.0% |
| Distributable reserves | 133 | €39,036 | €39,036 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,188 | -€56,545 | -€9,356 | -19.8% |
| Amounts payable | 17/49 | €134,578 | €93,584 | -€40,994 | -30.5% |
| Amounts payable after more than one year | 17 | €68,311 | €56,169 | -€12,143 | -17.8% |
| Financial debts | 170/4 | €68,311 | €56,169 | -€12,143 | -17.8% |
| Amounts payable within one year | 42/48 | €66,264 | €37,415 | -€28,849 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €21,677 | €21,985 | +€308 | +1.4% |
| Financial debts | 43 | €5,173 | - | -€5,173 | |
| Credit institutions | 430/8 | €5,173 | - | -€5,173 | |
| Trade debts | 44 | €5,625 | €4,419 | -€1,206 | -21.4% |
| Suppliers | 440/4 | €5,625 | €4,419 | -€1,206 | -21.4% |
| Taxes, remuneration and social security | 45 | €16,599 | €9,906 | -€6,693 | -40.3% |
| Taxes | 450/3 | €16,599 | €6,085 | -€10,514 | -63.3% |
| Remuneration and social security | 454/9 | - | €3,821 | +€3,821 | |
| Other amounts payable | 47/48 | €17,190 | €1,105 | -€16,085 | -93.6% |
| Accrued charges and deferred income | 492/3 | €3 | - | -€3 | |
| Non-recurring operating income | 76A | - | €13,737 | +€13,737 | |
| Remuneration, social security and pensions | 62 | €44,521 | €50,703 | +€6,182 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,463 | - | -€11,463 | |
| Other operating charges | 640/8 | €4,552 | €4,568 | +€16 | +0.4% |
| Gross operating margin | 9900 | €122,322 | €52,254 | -€70,068 | -57.3% |
| Operating profit (loss) | 9901 | €61,786 | -€3,017 | -€64,803 | |
| Financial income | 75/76B | €120 | €59 | -€61 | -51.0% |
| Recurring financial income | 75 | €120 | €59 | -€61 | -51.0% |
| Financial charges | 65/66B | €8,843 | €6,398 | -€2,445 | -27.7% |
| Recurring financial charges | 65 | €8,843 | €6,398 | -€2,445 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €53,063 | -€9,356 | -€62,420 | |
| Income taxes | 67/77 | €13,829 | - | -€13,829 | |
| Profit (loss) for the period | 9904 | €39,234 | -€9,356 | -€48,590 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,234 | -€9,356 | -€48,590 |
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.