SANEL: 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.
What changed
SANEL
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€11,588
2024 · -€692,236+€680,648
Equity
€902,244
2024 · €613,832+€288,412
Cash
€87,031
2024 · €103,576-€16,545
Balance sheet total
€2.8m
2024 · €3.6m-€789,681
Largest movements
Assets
- Tangible fixed assets -€819,729
down €819,729 (-96.0%), from €853,973 to €34,244
of which Land and buildings: -€801,874
- Receivables within one year +€287,264
up €287,264 (+30.9%), from €930,001 to €1.2m
of which Trade receivables: +€189,077
- Stocks and contracts -€254,254
down €254,254 (-18.4%), from €1.4m to €1.1m
- Financial fixed assets -€231,000
down €231,000 (-69.5%), from €332,234 to €101,234
- Receivables after one year +€223,250
new in 2025: €223,250
Equity and liabilities
- Short-term financial debts -€456,000
down €456,000 (-25.3%), from €1.8m to €1.3m
- Contributions +€300,000
up €300,000 (+80.5%), from €372,683 to €672,683
- Other debts -€300,000
down €300,000 (-100%), from €300,000 to €0
- Advances received -€201,469
down €201,469 (-100%), from €201,469 to €0
- Debts after one year -€88,883
down €88,883 (-86.5%), from €102,763 to €13,880
Income statement
- Gross operating margin +€457,623
up €457,623 (+198%), from €231,452 to €689,075
- Staff costs -€186,458
down €186,458 (-24.1%), from €774,225 to €587,767
- Depreciation -€28,564
down €28,564 (-61.5%), from €46,419 to €17,855
- Financial charges -€20,403
down €20,403 (-19.2%), from €106,107 to €85,704
- Other operating charges +€16,551
up €16,551 (+160%), from €10,337 to €26,888
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.
Result 2024
-€692,236
Gross operating margin
+€457,623
Staff costs
+€186,458
Depreciation
+€28,564
Write-downs
-€2,018
Provisions
+€5,545
Other operating charges
-€16,551
Financial income
+€358
Financial charges
+€20,403
Taxes
+€267
Result 2025
-€11,588
raises the resultlowers the result
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.
From operations
-€769,171
Investment
+€1.0m
Financing
-€280,248
Cash 2024
€103,576
From operations (derived)
-€769,171
Net result for the year
-€11,588
Depreciation
+€17,855
Receivables after one year
-€223,250
Stocks and contracts
+€254,254
Receivables within one year
-€287,264
Deferred charges and accrued income
-€21,333
Trade debts
+€33,439
Tax, wage and social debts
-€46,489
Advances received
-€201,469
Other debts
-€300,000
Accrued charges and deferred income
+€16,673
Investment (derived)
+€1.0m
Investment in fixed assets (net)
+€1.0m
Financing
-€280,248
Debts after one year
-€88,883
Current portion of long-term debt
-€35,365
Short-term financial debts
-€456,000
Contributions, distributions and other
+€300,000
Cash 2025
€87,031
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,635,542 | €2,845,862 | -€789,681 | -21.7% |
| Fixed assets | 21/28 | €1,186,207 | €135,479 | -€1.1m | -88.6% |
| Tangible fixed assets | 22/27 | €853,973 | €34,244 | -€819,729 | -96.0% |
| Land and buildings | 22 | €801,874 | €0 | -€801,874 | -100% |
| Plant, machinery and equipment | 23 | €25,693 | €17,532 | -€8,161 | -31.8% |
| Furniture and vehicles | 24 | €26,407 | €16,712 | -€9,695 | -36.7% |
| Financial fixed assets | 28 | €332,234 | €101,234 | -€231,000 | -69.5% |
| Current assets | 29/58 | €2,449,335 | €2,710,383 | +€261,048 | +10.7% |
| Amounts receivable after more than one year | 29 | - | €223,250 | +€223,250 | |
| Other amounts receivable | 291 | - | €223,250 | +€223,250 | |
| Stocks and contracts in progress | 3 | €1,385,129 | €1,130,875 | -€254,254 | -18.4% |
| Stocks | 30/36 | €1,385,129 | €1,130,875 | -€254,254 | -18.4% |
| Amounts receivable within one year | 40/41 | €930,001 | €1,217,265 | +€287,264 | +30.9% |
| Trade receivables | 40 | €817,602 | €1,006,678 | +€189,077 | +23.1% |
| Other amounts receivable | 41 | €112,400 | €210,587 | +€98,187 | +87.4% |
| Cash at bank and in hand | 54/58 | €103,576 | €87,031 | -€16,545 | -16.0% |
| Deferred charges and accrued income | 490/1 | €30,629 | €51,962 | +€21,333 | +69.6% |
| Total equity and liabilities | 10/49 | €3,635,542 | €2,845,862 | -€789,681 | -21.7% |
| Equity | 10/15 | €613,832 | €902,244 | +€288,412 | +47.0% |
| Contributions | 10/11 | €372,683 | €672,683 | +€300,000 | +80.5% |
| Capital | 10 | €372,683 | €672,683 | +€300,000 | +80.5% |
| Issued capital | 100 | €385,078 | €685,078 | +€300,000 | +77.9% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €87,708 | €87,708 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,508 | €38,508 | = | 0.0% |
| Legal reserve | 130 | €38,508 | €38,508 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,200 | €49,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,442 | €141,854 | -€11,588 | -7.6% |
| Amounts payable | 17/49 | €3,021,710 | €1,943,617 | -€1.1m | -35.7% |
| Amounts payable after more than one year | 17 | €102,763 | €13,880 | -€88,883 | -86.5% |
| Financial debts | 170/4 | €102,763 | €13,880 | -€88,883 | -86.5% |
| Amounts payable within one year | 42/48 | €2,918,256 | €1,912,373 | -€1.0m | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €90,206 | €54,841 | -€35,365 | -39.2% |
| Financial debts | 43 | €1,800,000 | €1,344,000 | -€456,000 | -25.3% |
| Credit institutions | 430/8 | €1,800,000 | €1,344,000 | -€456,000 | -25.3% |
| Trade debts | 44 | €393,351 | €426,791 | +€33,439 | +8.5% |
| Suppliers | 440/4 | €393,351 | €426,791 | +€33,439 | +8.5% |
| Advances received on contracts in progress | 46 | €201,469 | €0 | -€201,469 | -100% |
| Taxes, remuneration and social security | 45 | €133,230 | €86,741 | -€46,489 | -34.9% |
| Taxes | 450/3 | €74,979 | €36,739 | -€38,241 | -51.0% |
| Remuneration and social security | 454/9 | €58,251 | €50,003 | -€8,248 | -14.2% |
| Other amounts payable | 47/48 | €300,000 | €0 | -€300,000 | -100% |
| Accrued charges and deferred income | 492/3 | €690 | €17,364 | +€16,673 | +2,415% |
| Non-recurring operating income | 76A | €8,344 | €302,126 | +€293,783 | +3,521% |
| Remuneration, social security and pensions | 62 | €774,225 | €587,767 | -€186,458 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,419 | €17,855 | -€28,564 | -61.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,018 | €0 | +€2,018 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€5,545 | -€5,545 | |
| Other operating charges | 640/8 | €10,337 | €26,888 | +€16,551 | +160% |
| Gross operating margin | 9900 | €231,452 | €689,075 | +€457,623 | +198% |
| Operating profit (loss) | 9901 | -€597,511 | €62,109 | +€659,621 | |
| Financial income | 75/76B | €12,976 | €13,334 | +€358 | +2.8% |
| Recurring financial income | 75 | €12,976 | €13,334 | +€358 | +2.8% |
| Financial charges | 65/66B | €106,107 | €85,704 | -€20,403 | -19.2% |
| Recurring financial charges | 65 | €106,107 | €85,704 | -€20,403 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€690,642 | -€10,261 | +€680,381 | +98.5% |
| Income taxes | 67/77 | €1,594 | €1,327 | -€267 | -16.8% |
| Profit (loss) for the period | 9904 | -€692,236 | -€11,588 | +€680,648 | +98.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€692,236 | -€11,588 | +€680,648 | +98.3% |
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 21 October 2026 via checked.be.