Sandy Hereng: 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.
Sandy Hereng
Largest movements
- Receivables within one year +€9,723
up €9,723 (+11.5%), from €84,225 to €93,949
of which Other amounts receivable: +€25,973
- Tangible fixed assets -€9,700
down €9,700 (-9.9%), from €97,999 to €88,298
of which Land and buildings: -€10,520
- Deferred charges and accrued income -€2,705
down €2,705 (-78.4%), from €3,451 to €746
- Cash -€2,556
down €2,556 (-39.3%), from €6,498 to €3,942
mainly Receivables within one year (-€9,723) and Debts after one year (-€9,356)
- Reserves +€14,348
up €14,348 (+22.7%), from €63,145 to €77,493
- Debts after one year -€9,356
down €9,356 (-9.8%), from €95,772 to €86,416
- Other debts -€9,147
down €9,147 (-84.9%), from €10,771 to €1,623
- Gross operating margin -€33,550
down €33,550 (-47.8%), from €70,253 to €36,703
- Taxes -€7,201
down €7,201 (-56.2%), from €12,824 to €5,623
- Financial income +€2,213
up €2,213 (+2,459,222%), from €0 to €2,213
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 | €192,172 | €186,935 | -€5,237 | -2.7% |
| Fixed assets | 21/28 | €97,999 | €88,298 | -€9,700 | -9.9% |
| Tangible fixed assets | 22/27 | €97,999 | €88,298 | -€9,700 | -9.9% |
| Land and buildings | 22 | €95,005 | €84,486 | -€10,520 | -11.1% |
| Plant, machinery and equipment | 23 | €1,428 | €511 | -€917 | -64.2% |
| Furniture and vehicles | 24 | €1,565 | €3,302 | +€1,736 | +111% |
| Current assets | 29/58 | €94,174 | €98,637 | +€4,463 | +4.7% |
| Amounts receivable within one year | 40/41 | €84,225 | €93,949 | +€9,723 | +11.5% |
| Trade receivables | 40 | €16,727 | €477 | -€16,250 | -97.1% |
| Other amounts receivable | 41 | €67,498 | €93,471 | +€25,973 | +38.5% |
| Cash at bank and in hand | 54/58 | €6,498 | €3,942 | -€2,556 | -39.3% |
| Deferred charges and accrued income | 490/1 | €3,451 | €746 | -€2,705 | -78.4% |
| Total equity and liabilities | 10/49 | €192,172 | €186,935 | -€5,237 | -2.7% |
| Equity | 10/15 | €69,345 | €83,693 | +€14,348 | +20.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,145 | €77,493 | +€14,348 | +22.7% |
| Distributable reserves | 133 | €63,145 | €77,493 | +€14,348 | +22.7% |
| Amounts payable | 17/49 | €122,828 | €103,242 | -€19,585 | -15.9% |
| Amounts payable after more than one year | 17 | €95,772 | €86,416 | -€9,356 | -9.8% |
| Financial debts | 170/4 | €95,772 | €86,416 | -€9,356 | -9.8% |
| Amounts payable within one year | 42/48 | €27,056 | €16,826 | -€10,229 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €9,020 | €9,356 | +€336 | +3.7% |
| Trade debts | 44 | €1,318 | €212 | -€1,106 | -83.9% |
| Suppliers | 440/4 | €1,318 | €212 | -€1,106 | -83.9% |
| Taxes, remuneration and social security | 45 | €5,946 | €5,635 | -€311 | -5.2% |
| Taxes | 450/3 | €5,946 | €5,635 | -€311 | -5.2% |
| Other amounts payable | 47/48 | €10,771 | €1,623 | -€9,147 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,541 | €12,879 | +€338 | +2.7% |
| Other operating charges | 640/8 | €1,914 | €2,053 | +€139 | +7.3% |
| Gross operating margin | 9900 | €70,253 | €36,703 | -€33,550 | -47.8% |
| Operating profit (loss) | 9901 | €55,798 | €21,771 | -€34,027 | -61.0% |
| Financial income | 75/76B | €0 | €2,213 | +€2,213 | +2,459,222% |
| Recurring financial income | 75 | €0 | €2,213 | +€2,213 | +2,459,222% |
| Financial charges | 65/66B | €4,352 | €4,013 | -€339 | -7.8% |
| Recurring financial charges | 65 | €4,352 | €4,013 | -€339 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €51,446 | €19,971 | -€31,475 | -61.2% |
| Income taxes | 67/77 | €12,824 | €5,623 | -€7,201 | -56.2% |
| Profit (loss) for the period | 9904 | €38,622 | €14,348 | -€24,274 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,622 | €14,348 | -€24,274 | -62.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.