SANE ADVISORY SERVICES: 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.
SANE ADVISORY SERVICES
Largest movements
- Financial fixed assets +€334,375
up €334,375 (+10.3%), from €3.3m to €3.6m
- Current investments +€249,243
new in 2025: €249,243
- Cash -€96,337
down €96,337 (-15.1%), from €636,736 to €540,400
mainly Investment in fixed assets (net) (-€436,434) and Contributions, distributions and other (-€358,342)
- Tangible fixed assets +€81,793
up €81,793 (+14.9%), from €549,034 to €630,828
of which Land and buildings: +€92,789
- Receivables within one year -€75,871
down €75,871 (-59.7%), from €126,995 to €51,123
of which Trade receivables: -€50,171
- Debts after one year +€504,381
up €504,381 (+79.9%), from €630,995 to €1.1m
- Reserves -€209,410
down €209,410 (-5.9%), from €3.5m to €3.3m
- Other debts +€133,682
up €133,682, from €0 to €133,682
- Tax, wage and social debts +€58,717
up €58,717 (+18.4%), from €319,100 to €377,817
of which Taxes: +€57,095
- Financial income -€3.3m
down €3.3m (-98.1%), from €3.3m to €65,009
- Taxes -€218,180
down €218,180 (-75.0%), from €290,850 to €72,670
- Gross operating margin +€154,018
up €154,018 (+113.2%), from €136,017 to €290,035
- Financial charges -€132,306
down €132,306 (-69.7%), from €189,948 to €57,643
of which Non-recurring financial charges: -€160,000
- Depreciation -€39,775
down €39,775 (-66.2%), from €60,040 to €20,266
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.
Cash bridge derived
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 | €4,572,653 | €5,064,192 | +€491,539 | +10.7% |
| Fixed assets | 21/28 | €3,807,257 | €4,223,426 | +€416,168 | +10.9% |
| Tangible fixed assets | 22/27 | €549,034 | €630,828 | +€81,793 | +14.9% |
| Land and buildings | 22 | €456,291 | €549,080 | +€92,789 | +20.3% |
| Plant, machinery and equipment | 23 | €28,187 | €34,313 | +€6,126 | +21.7% |
| Furniture and vehicles | 24 | €55,190 | €38,069 | -€17,122 | -31.0% |
| Other tangible fixed assets | 26 | €9,366 | €9,366 | = | 0.0% |
| Financial fixed assets | 28 | €3,258,223 | €3,592,598 | +€334,375 | +10.3% |
| Current assets | 29/58 | €765,396 | €840,766 | +€75,370 | +9.8% |
| Amounts receivable within one year | 40/41 | €126,995 | €51,123 | -€75,871 | -59.7% |
| Trade receivables | 40 | €82,794 | €32,623 | -€50,171 | -60.6% |
| Other amounts receivable | 41 | €44,201 | €18,500 | -€25,701 | -58.1% |
| Current investments | 50/53 | - | €249,243 | +€249,243 | |
| Cash at bank and in hand | 54/58 | €636,736 | €540,400 | -€96,337 | -15.1% |
| Deferred charges and accrued income | 490/1 | €1,665 | - | -€1,665 | |
| Total equity and liabilities | 10/49 | €4,572,653 | €5,064,192 | +€491,539 | +10.7% |
| Equity | 10/15 | €3,566,087 | €3,356,677 | -€209,410 | -5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,546,087 | €3,336,677 | -€209,410 | -5.9% |
| Distributable reserves | 133 | €3,546,087 | €3,336,677 | -€209,410 | -5.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,006,566 | €1,707,515 | +€700,949 | +69.6% |
| Amounts payable after more than one year | 17 | €630,995 | €1,135,376 | +€504,381 | +79.9% |
| Financial debts | 170/4 | €630,995 | €1,135,376 | +€504,381 | +79.9% |
| Amounts payable within one year | 42/48 | €375,571 | €572,140 | +€196,568 | +52.3% |
| Current portion of amounts payable after more than one year | 42 | €45,219 | €45,619 | +€400 | +0.9% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €11,252 | €5,021 | -€6,232 | -55.4% |
| Suppliers | 440/4 | €11,252 | €5,021 | -€6,232 | -55.4% |
| Taxes, remuneration and social security | 45 | €319,100 | €377,817 | +€58,717 | +18.4% |
| Taxes | 450/3 | €314,897 | €371,993 | +€57,095 | +18.1% |
| Remuneration and social security | 454/9 | €4,203 | €5,824 | +€1,622 | +38.6% |
| Other amounts payable | 47/48 | €0 | €133,682 | +€133,682 | |
| Remuneration, social security and pensions | 62 | €29,339 | €40,873 | +€11,534 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,040 | €20,266 | -€39,775 | -66.2% |
| Other operating charges | 640/8 | €352 | €14,662 | +€14,310 | +4065.8% |
| Gross operating margin | 9900 | €136,017 | €290,035 | +€154,018 | +113.2% |
| Operating profit (loss) | 9901 | €46,286 | €214,235 | +€167,949 | +362.8% |
| Financial income | 75/76B | €3,338,657 | €65,009 | -€3.3m | -98.1% |
| Recurring financial income | 75 | €3,338,657 | €65,009 | -€3.3m | -98.1% |
| Financial charges | 65/66B | €189,948 | €57,643 | -€132,306 | -69.7% |
| Recurring financial charges | 65 | €29,948 | €57,643 | +€27,694 | +92.5% |
| Non-recurring financial charges | 66B | €160,000 | €0 | -€160,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €3,194,995 | €221,601 | -€3.0m | -93.1% |
| Income taxes | 67/77 | €290,850 | €72,670 | -€218,180 | -75.0% |
| Profit (loss) for the period | 9904 | €2,904,145 | €148,931 | -€2.8m | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,904,145 | €148,931 | -€2.8m | -94.9% |
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 10 October 2026 via checked.be.