SANDY WOOD: 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 WOOD
Largest movements
- Tangible fixed assets -€59,976
down €59,976 (-3.7%), from €1.6m to €1.6m
of which Land and buildings: -€40,968
- Other debts +€98,771
up €98,771 (+25.8%), from €382,573 to €481,344
- Debts after one year -€90,037
down €90,037 (-18.1%), from €497,438 to €407,401
- Profit (loss) carried forward -€47,822
down €47,822 (-24.4%), from -€196,063 to -€243,885
- Reserves -€17,989
down €17,989 (-3.6%), from €497,457 to €479,468
of which Tax-exempt reserves: -€17,989
- Gross operating margin +€6,348
up €6,348 (+205%), from €3,104 to €9,452
- Financial charges +€1,584
up €1,584 (+14.5%), from €10,899 to €12,483
- Depreciation +€104
up €104 (+0.2%), from €62,840 to €62,944
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 | €1,636,377 | €1,580,230 | -€56,147 | -3.4% |
| Fixed assets | 21/28 | €1,633,821 | €1,573,845 | -€59,976 | -3.7% |
| Tangible fixed assets | 22/27 | €1,633,821 | €1,573,845 | -€59,976 | -3.7% |
| Land and buildings | 22 | €1,410,021 | €1,369,053 | -€40,968 | -2.9% |
| Furniture and vehicles | 24 | €223,800 | €204,792 | -€19,008 | -8.5% |
| Current assets | 29/58 | €2,556 | €6,385 | +€3,829 | +150% |
| Amounts receivable within one year | 40/41 | - | €3,717 | +€3,717 | |
| Trade receivables | 40 | - | €3,717 | +€3,717 | |
| Cash at bank and in hand | 54/58 | €42 | - | -€42 | |
| Deferred charges and accrued income | 490/1 | €2,514 | €2,668 | +€154 | +6.1% |
| Total equity and liabilities | 10/49 | €1,636,377 | €1,580,230 | -€56,147 | -3.4% |
| Equity | 10/15 | €504,394 | €438,583 | -€65,811 | -13.0% |
| Contributions | 10/11 | €203,000 | €203,000 | = | 0.0% |
| Capital | 10 | €203,000 | €203,000 | = | 0.0% |
| Issued capital | 100 | €203,000 | €203,000 | = | 0.0% |
| Reserves | 13 | €497,457 | €479,468 | -€17,989 | -3.6% |
| Non-distributable reserves | 130/1 | €20,300 | €20,300 | = | 0.0% |
| Legal reserve | 130 | €20,300 | €20,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €477,157 | €459,168 | -€17,989 | -3.8% |
| Profit (loss) carried forward | 14 | -€196,063 | -€243,885 | -€47,822 | -24.4% |
| Provisions and deferred taxes | 16 | €159,052 | €153,056 | -€5,996 | -3.8% |
| Deferred taxes | 168 | €159,052 | €153,056 | -€5,996 | -3.8% |
| Amounts payable | 17/49 | €972,931 | €988,591 | +€15,660 | +1.6% |
| Amounts payable after more than one year | 17 | €497,438 | €407,401 | -€90,037 | -18.1% |
| Financial debts | 170/4 | €497,438 | €407,401 | -€90,037 | -18.1% |
| Amounts payable within one year | 42/48 | €475,493 | €581,190 | +€105,697 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €89,239 | €90,037 | +€798 | +0.9% |
| Financial debts | 43 | - | €6,954 | +€6,954 | |
| Credit institutions | 430/8 | - | €6,954 | +€6,954 | |
| Trade debts | 44 | €3,681 | €2,855 | -€826 | -22.4% |
| Suppliers | 440/4 | €3,681 | €2,855 | -€826 | -22.4% |
| Other amounts payable | 47/48 | €382,573 | €481,344 | +€98,771 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,840 | €62,944 | +€104 | +0.2% |
| Other operating charges | 640/8 | €5,838 | €5,831 | -€7 | -0.1% |
| Gross operating margin | 9900 | €3,104 | €9,452 | +€6,348 | +205% |
| Operating profit (loss) | 9901 | -€65,574 | -€59,323 | +€6,251 | +9.5% |
| Financial charges | 65/66B | €10,899 | €12,483 | +€1,584 | +14.5% |
| Recurring financial charges | 65 | €10,899 | €12,483 | +€1,584 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€76,473 | -€71,806 | +€4,667 | +6.1% |
| Transfer from deferred taxes | 780 | €5,996 | €5,996 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€70,477 | -€65,810 | +€4,667 | +6.6% |
| Transfer from tax-exempt reserves | 789 | €17,988 | €17,988 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,489 | -€47,822 | +€4,667 | +8.9% |
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 31 October 2026 via checked.be.