SANEGA: what changed
Two fiscal 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.
SANEGA
Largest movements
- Cash +€53,329
up €53,329 (+126.3%), from €42,240 to €95,569
mainly Net result for the year (+€191,330) and Depreciation (+€28,109)
- Reserves +€191,330
up €191,330 (+10.5%), from €1.8m to €2.0m
- Other debts -€127,466
down €127,466 (-11.9%), from €1.1m to €944,217
- Financial income +€80,000
up €80,000 (+66.7%), from €120,000 to €200,000
- Gross operating margin +€44,621
up €44,621 (+46.5%), from €95,918 to €140,538
- Staff costs +€32,389
up €32,389 (+55.7%), from €58,144 to €90,533
- Depreciation +€7,095
up €7,095 (+33.8%), from €21,014 to €28,109
- Financial charges -€4,144
down €4,144 (-13.0%), from €31,924 to €27,780
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 | €3,249,633 | €3,305,682 | +€56,049 | +1.7% |
| Fixed assets | 21/28 | €2,916,721 | €2,899,921 | -€16,801 | -0.6% |
| Tangible fixed assets | 22/27 | €326,758 | €308,578 | -€18,180 | -5.6% |
| Land and buildings | 22 | €314,647 | €306,967 | -€7,680 | -2.4% |
| Furniture and vehicles | 24 | €12,111 | €1,611 | -€10,500 | -86.7% |
| Financial fixed assets | 28 | €2,589,963 | €2,591,343 | +€1,380 | +0.1% |
| Current assets | 29/58 | €332,912 | €405,762 | +€72,850 | +21.9% |
| Amounts receivable within one year | 40/41 | €290,300 | €309,839 | +€19,539 | +6.7% |
| Trade receivables | 40 | €290,300 | €308,055 | +€17,756 | +6.1% |
| Other amounts receivable | 41 | €0 | €1,784 | +€1,784 | |
| Cash at bank and in hand | 54/58 | €42,240 | €95,569 | +€53,329 | +126.3% |
| Deferred charges and accrued income | 490/1 | €372 | €354 | -€19 | -5.0% |
| Total equity and liabilities | 10/49 | €3,249,633 | €3,305,682 | +€56,049 | +1.7% |
| Equity | 10/15 | €2,134,894 | €2,326,224 | +€191,330 | +9.0% |
| Contributions | 10/11 | €312,000 | €312,000 | = | 0.0% |
| Reserves | 13 | €1,822,894 | €2,014,224 | +€191,330 | +10.5% |
| Distributable reserves | 133 | €1,822,894 | €2,014,224 | +€191,330 | +10.5% |
| Amounts payable | 17/49 | €1,114,739 | €979,458 | -€135,281 | -12.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,114,739 | €978,558 | -€136,181 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €3,341 | €0 | -€3,341 | -100.0% |
| Trade debts | 44 | €6,750 | €12,881 | +€6,131 | +90.8% |
| Suppliers | 440/4 | €6,750 | €12,881 | +€6,131 | +90.8% |
| Taxes, remuneration and social security | 45 | €32,965 | €21,460 | -€11,505 | -34.9% |
| Taxes | 450/3 | €22,130 | €16,746 | -€5,384 | -24.3% |
| Remuneration and social security | 454/9 | €10,835 | €4,714 | -€6,122 | -56.5% |
| Other amounts payable | 47/48 | €1,071,683 | €944,217 | -€127,466 | -11.9% |
| Accrued charges and deferred income | 492/3 | - | €900 | +€900 | |
| Remuneration, social security and pensions | 62 | €58,144 | €90,533 | +€32,389 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,014 | €28,109 | +€7,095 | +33.8% |
| Other operating charges | 640/8 | €3,008 | €2,606 | -€401 | -13.3% |
| Gross operating margin | 9900 | €95,918 | €140,538 | +€44,621 | +46.5% |
| Operating profit (loss) | 9901 | €13,752 | €19,291 | +€5,539 | +40.3% |
| Financial income | 75/76B | €120,000 | €200,000 | +€80,000 | +66.7% |
| Recurring financial income | 75 | €120,000 | €200,000 | +€80,000 | +66.7% |
| Financial charges | 65/66B | €31,924 | €27,780 | -€4,144 | -13.0% |
| Recurring financial charges | 65 | €31,924 | €27,780 | -€4,144 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €101,828 | €191,511 | +€89,683 | +88.1% |
| Income taxes | 67/77 | €180 | €181 | +€1 | +0.4% |
| Profit (loss) for the period | 9904 | €101,648 | €191,330 | +€89,682 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,648 | €191,330 | +€89,682 | +88.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.