SANER: 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.
SANER
Largest movements
- Stocks and contracts -€16,000
down €16,000 (-16.5%), from €97,026 to €81,026
- Receivables within one year +€10,839
up €10,839 (+76.1%), from €14,241 to €25,080
of which Trade receivables: +€11,500
- Tangible fixed assets -€5,991
down €5,991 (-44.7%), from €13,409 to €7,417
- Cash -€3,813
down €3,813 (-92.7%), from €4,112 to €299
mainly Net result for the year (-€21,619) and Receivables within one year (-€10,839)
- Profit (loss) carried forward -€21,619
down €21,619 (-13.5%), from -€160,036 to -€181,655
- Other debts +€4,671
up €4,671 (+5.2%), from €90,082 to €94,753
- Trade debts +€2,473
up €2,473 (+3.1%), from €80,047 to €82,520
- Gross operating margin -€26,947
down €26,947, from €11,753 to -€15,193
- Financial charges -€834
down €834 (-65.9%), from €1,265 to €431
- Other operating charges -€224
down €224 (-98.6%), from €227 to €3
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 | €128,787 | €114,312 | -€14,475 | -11.2% |
| Fixed assets | 21/28 | €13,409 | €7,417 | -€5,991 | -44.7% |
| Tangible fixed assets | 22/27 | €13,409 | €7,417 | -€5,991 | -44.7% |
| Furniture and vehicles | 24 | €13,409 | €7,417 | -€5,991 | -44.7% |
| Current assets | 29/58 | €115,379 | €106,895 | -€8,484 | -7.4% |
| Stocks and contracts in progress | 3 | €97,026 | €81,026 | -€16,000 | -16.5% |
| Stocks | 30/36 | €97,026 | €81,026 | -€16,000 | -16.5% |
| Amounts receivable within one year | 40/41 | €14,241 | €25,080 | +€10,839 | +76.1% |
| Trade receivables | 40 | €13,350 | €24,850 | +€11,500 | +86.1% |
| Other amounts receivable | 41 | €891 | €230 | -€661 | -74.2% |
| Cash at bank and in hand | 54/58 | €4,112 | €299 | -€3,813 | -92.7% |
| Deferred charges and accrued income | 490/1 | - | €491 | +€491 | |
| Total equity and liabilities | 10/49 | €128,787 | €114,312 | -€14,475 | -11.2% |
| Equity | 10/15 | -€48,036 | -€69,655 | -€21,619 | -45.0% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,036 | -€181,655 | -€21,619 | -13.5% |
| Amounts payable | 17/49 | €176,824 | €183,967 | +€7,144 | +4.0% |
| Amounts payable within one year | 42/48 | €176,824 | €183,967 | +€7,144 | +4.0% |
| Trade debts | 44 | €80,047 | €82,520 | +€2,473 | +3.1% |
| Suppliers | 440/4 | €80,047 | €82,520 | +€2,473 | +3.1% |
| Advances received on contracts in progress | 46 | €6,695 | €6,695 | = | 0.0% |
| Other amounts payable | 47/48 | €90,082 | €94,753 | +€4,671 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,991 | €5,991 | = | 0.0% |
| Other operating charges | 640/8 | €227 | €3 | -€224 | -98.6% |
| Gross operating margin | 9900 | €11,753 | -€15,193 | -€26,947 | |
| Operating profit (loss) | 9901 | €5,535 | -€21,188 | -€26,722 | |
| Financial charges | 65/66B | €1,265 | €431 | -€834 | -65.9% |
| Recurring financial charges | 65 | €1,265 | €431 | -€834 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €4,270 | -€21,619 | -€25,889 | |
| Profit (loss) for the period | 9904 | €4,270 | -€21,619 | -€25,889 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,270 | -€21,619 | -€25,889 |
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 2 October 2026 via checked.be.