SanEm Consulting: 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.
SanEm Consulting
Largest movements
- Receivables within one year +€31,352
up €31,352 (+359%), from €8,736 to €40,088
of which Other amounts receivable: +€21,198
- Cash +€23,454
up €23,454 (+46.4%), from €50,493 to €73,946
mainly Other debts (+€79,418) and Net result for the year (+€75,383)
- Tangible fixed assets -€12,063
down €12,063 (-3.5%), from €339,975 to €327,912
of which Land and buildings: -€11,149
- Other debts +€79,418
up €79,418 (+684%), from €11,605 to €91,023
- Debts after one year -€24,694
down €24,694 (-8.9%), from €276,070 to €251,375
of which Financial debts: -€24,694
- Reserves -€8,823
down €8,823 (-15.2%), from €58,218 to €49,395
of which Distributable reserves: -€8,823
- Tax, wage and social debts -€6,437
down €6,437 (-64.6%), from €9,972 to €3,534
- Gross operating margin +€32,662
up €32,662 (+32.5%), from €100,608 to €133,270
- Taxes +€7,527
up €7,527 (+49.6%), from €15,188 to €22,714
- Depreciation -€2,020
down €2,020 (-7.8%), from €26,011 to €23,992
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 | €403,161 | €444,387 | +€41,226 | +10.2% |
| Fixed assets | 21/28 | €339,975 | €327,912 | -€12,063 | -3.5% |
| Tangible fixed assets | 22/27 | €339,975 | €327,912 | -€12,063 | -3.5% |
| Land and buildings | 22 | €335,651 | €324,502 | -€11,149 | -3.3% |
| Furniture and vehicles | 24 | €4,324 | €3,410 | -€913 | -21.1% |
| Current assets | 29/58 | €63,186 | €116,475 | +€53,289 | +84.3% |
| Amounts receivable within one year | 40/41 | €8,736 | €40,088 | +€31,352 | +359% |
| Trade receivables | 40 | €8,208 | €18,362 | +€10,154 | +124% |
| Other amounts receivable | 41 | €528 | €21,726 | +€21,198 | +4,016% |
| Cash at bank and in hand | 54/58 | €50,493 | €73,946 | +€23,454 | +46.4% |
| Deferred charges and accrued income | 490/1 | €3,958 | €2,441 | -€1,517 | -38.3% |
| Total equity and liabilities | 10/49 | €403,161 | €444,387 | +€41,226 | +10.2% |
| Equity | 10/15 | €76,818 | €67,995 | -€8,823 | -11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,218 | €49,395 | -€8,823 | -15.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €56,358 | €47,535 | -€8,823 | -15.7% |
| Amounts payable | 17/49 | €326,343 | €376,392 | +€50,049 | +15.3% |
| Amounts payable after more than one year | 17 | €276,070 | €251,375 | -€24,694 | -8.9% |
| Financial debts | 170/4 | €222,455 | €197,761 | -€24,694 | -11.1% |
| Other amounts payable | 178/9 | €53,615 | €53,615 | = | 0.0% |
| Amounts payable within one year | 42/48 | €47,738 | €124,002 | +€76,265 | +160% |
| Current portion of amounts payable after more than one year | 42 | €24,209 | €24,694 | +€485 | +2.0% |
| Trade debts | 44 | €1,952 | €4,751 | +€2,799 | +143% |
| Suppliers | 440/4 | €1,952 | €4,751 | +€2,799 | +143% |
| Taxes, remuneration and social security | 45 | €9,972 | €3,534 | -€6,437 | -64.6% |
| Taxes | 450/3 | €9,972 | €3,534 | -€6,437 | -64.6% |
| Other amounts payable | 47/48 | €11,605 | €91,023 | +€79,418 | +684% |
| Accrued charges and deferred income | 492/3 | €2,536 | €1,015 | -€1,521 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,011 | €23,992 | -€2,020 | -7.8% |
| Other operating charges | 640/8 | €2,461 | €2,462 | +€1 | 0.0% |
| Gross operating margin | 9900 | €100,608 | €133,270 | +€32,662 | +32.5% |
| Operating profit (loss) | 9901 | €72,136 | €106,817 | +€34,681 | +48.1% |
| Financial income | 75/76B | €55 | €162 | +€107 | +195% |
| Recurring financial income | 75 | €55 | €162 | +€107 | +195% |
| Financial charges | 65/66B | €9,821 | €8,882 | -€939 | -9.6% |
| Recurring financial charges | 65 | €9,821 | €8,882 | -€939 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €62,370 | €98,097 | +€35,727 | +57.3% |
| Income taxes | 67/77 | €15,188 | €22,714 | +€7,527 | +49.6% |
| Profit (loss) for the period | 9904 | €47,182 | €75,383 | +€28,200 | +59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,182 | €75,383 | +€28,200 | +59.8% |
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 27 October 2026 via checked.be.