SANES: 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.
SANES
Largest movements
- Tangible fixed assets -€32,599
down €32,599 (-71.6%), from €45,553 to €12,954
of which Furniture and vehicles: -€31,575
- Receivables within one year +€18,879
up €18,879 (+40.4%), from €46,785 to €65,664
of which Other amounts receivable: +€58,440
- Cash -€4,779
down €4,779 (-55.5%), from €8,612 to €3,833
mainly Debts after one year (-€22,391) and Receivables within one year (-€18,879)
- Deferred charges and accrued income -€1,930
no longer reported in 2025 (was €1,930)
- Debts after one year -€22,391
no longer reported in 2025 (was €22,391)
- Reserves +€15,815
up €15,815 (+50.1%), from €31,593 to €47,408
- Trade debts -€10,152
down €10,152 (-62.0%), from €16,380 to €6,228
- Current portion of long-term debt -€8,271
down €8,271 (-76.4%), from €10,833 to €2,562
- Short-term financial debts +€2,987
new in 2025: €2,987
- Depreciation -€9,926
down €9,926 (-77.4%), from €12,828 to €2,902
- Gross operating margin -€4,286
down €4,286 (-9.7%), from €44,185 to €39,899
- Other operating charges +€3,945
up €3,945 (+212.6%), from €1,855 to €5,800
- Taxes -€1,127
down €1,127 (-15.6%), from €7,221 to €6,094
- Financial income -€1,041
down €1,041 (-94.8%), from €1,098 to €57
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 | €103,130 | €82,451 | -€20,679 | -20.1% |
| Fixed assets | 21/28 | €45,803 | €12,954 | -€32,849 | -71.7% |
| Tangible fixed assets | 22/27 | €45,553 | €12,954 | -€32,599 | -71.6% |
| Plant, machinery and equipment | 23 | €2,643 | €1,619 | -€1,024 | -38.7% |
| Furniture and vehicles | 24 | €42,910 | €11,335 | -€31,575 | -73.6% |
| Financial fixed assets | 28 | €250 | - | -€250 | |
| Current assets | 29/58 | €57,327 | €69,497 | +€12,170 | +21.2% |
| Amounts receivable within one year | 40/41 | €46,785 | €65,664 | +€18,879 | +40.4% |
| Trade receivables | 40 | €8,330 | €7,224 | -€1,106 | -13.3% |
| Other amounts receivable | 41 | - | €58,440 | +€58,440 | |
| Cash at bank and in hand | 54/58 | €8,612 | €3,833 | -€4,779 | -55.5% |
| Deferred charges and accrued income | 490/1 | €1,930 | - | -€1,930 | |
| Total equity and liabilities | 10/49 | €103,130 | €82,451 | -€20,679 | -20.1% |
| Equity | 10/15 | €33,593 | €49,408 | +€15,815 | +47.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €31,593 | €47,408 | +€15,815 | +50.1% |
| Distributable reserves | 133 | €31,593 | €47,408 | +€15,815 | +50.1% |
| Amounts payable | 17/49 | €69,537 | €33,043 | -€36,494 | -52.5% |
| Amounts payable after more than one year | 17 | €22,391 | - | -€22,391 | |
| Financial debts | 170/4 | €22,391 | - | -€22,391 | |
| Amounts payable within one year | 42/48 | €47,146 | €33,043 | -€14,103 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €10,833 | €2,562 | -€8,271 | -76.4% |
| Financial debts | 43 | - | €2,987 | +€2,987 | |
| Credit institutions | 430/8 | - | €2,987 | +€2,987 | |
| Trade debts | 44 | €16,380 | €6,228 | -€10,152 | -62.0% |
| Suppliers | 440/4 | €16,380 | €6,228 | -€10,152 | -62.0% |
| Taxes, remuneration and social security | 45 | €19,933 | €21,266 | +€1,333 | +6.7% |
| Taxes | 450/3 | €19,933 | €21,266 | +€1,333 | +6.7% |
| Turnover | 70 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,828 | €2,902 | -€9,926 | -77.4% |
| Other operating charges | 640/8 | €1,855 | €5,800 | +€3,945 | +212.6% |
| Gross operating margin | 9900 | €44,185 | €39,899 | -€4,286 | -9.7% |
| Operating profit (loss) | 9901 | €29,502 | €31,198 | +€1,696 | +5.7% |
| Financial income | 75/76B | €1,098 | €57 | -€1,041 | -94.8% |
| Recurring financial income | 75 | €1,098 | €57 | -€1,041 | -94.8% |
| Financial charges | 65/66B | €3,392 | €4,346 | +€954 | +28.1% |
| Recurring financial charges | 65 | €3,392 | €4,346 | +€954 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €27,208 | €26,909 | -€299 | -1.1% |
| Income taxes | 67/77 | €7,221 | €6,094 | -€1,127 | -15.6% |
| Profit (loss) for the period | 9904 | €19,987 | €20,815 | +€828 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,987 | €20,815 | +€828 | +4.1% |
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 8 October 2026 via checked.be.