SANI & CV: 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.
SANI & CV
Largest movements
- Receivables within one year +€170,423
up €170,423 (+352.2%), from €48,387 to €218,810
of which Trade receivables: +€131,452
- Cash +€28,672
up €28,672 (+543.5%), from €5,276 to €33,948
mainly Advances received (+€151,781) and Trade debts (+€33,863)
- Deferred charges and accrued income -€20,600
down €20,600 (-50.1%), from €41,081 to €20,481
- Stocks and contracts -€10,000
down €10,000 (-97.6%), from €10,250 to €250
- Tangible fixed assets -€7,285
down €7,285 (-11.8%), from €61,920 to €54,636
of which Leasing and similar rights: -€14,527
- Advances received +€151,781
up €151,781 (+4714.7%), from €3,219 to €155,000
- Trade debts +€33,863
up €33,863 (+165.2%), from €20,502 to €54,366
- Other debts -€18,426
down €18,426 (-33.2%), from €55,550 to €37,125
- Debts after one year -€12,116
down €12,116 (-36.9%), from €32,856 to €20,739
- Reserves +€4,605
up €4,605 (+13.1%), from €35,213 to €39,818
- Staff costs -€37,441
no longer reported in 2025 (was €37,441)
- Gross operating margin -€28,685
down €28,685 (-46.9%), from €61,150 to €32,465
- Financial charges +€4,239
up €4,239 (+141.5%), from €2,995 to €7,234
- Taxes +€728
up €728 (+96.3%), from €756 to €1,484
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 | €166,914 | €328,125 | +€161,211 | +96.6% |
| Fixed assets | 21/28 | €61,920 | €54,636 | -€7,285 | -11.8% |
| Tangible fixed assets | 22/27 | €61,920 | €54,636 | -€7,285 | -11.8% |
| Plant, machinery and equipment | 23 | €5,840 | €15,084 | +€9,244 | +158.3% |
| Furniture and vehicles | 24 | €2,124 | €123 | -€2,001 | -94.2% |
| Leasing and similar rights | 25 | €53,957 | €39,429 | -€14,527 | -26.9% |
| Current assets | 29/58 | €104,994 | €273,489 | +€168,496 | +160.5% |
| Stocks and contracts in progress | 3 | €10,250 | €250 | -€10,000 | -97.6% |
| Stocks | 30/36 | €10,250 | €250 | -€10,000 | -97.6% |
| Amounts receivable within one year | 40/41 | €48,387 | €218,810 | +€170,423 | +352.2% |
| Trade receivables | 40 | €27,685 | €159,138 | +€131,452 | +474.8% |
| Other amounts receivable | 41 | €20,702 | €59,673 | +€38,971 | +188.2% |
| Cash at bank and in hand | 54/58 | €5,276 | €33,948 | +€28,672 | +543.5% |
| Deferred charges and accrued income | 490/1 | €41,081 | €20,481 | -€20,600 | -50.1% |
| Total equity and liabilities | 10/49 | €166,914 | €328,125 | +€161,211 | +96.6% |
| Equity | 10/15 | €41,413 | €46,018 | +€4,605 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,213 | €39,818 | +€4,605 | +13.1% |
| Distributable reserves | 133 | €35,213 | €39,818 | +€4,605 | +13.1% |
| Amounts payable | 17/49 | €125,501 | €282,107 | +€156,606 | +124.8% |
| Amounts payable after more than one year | 17 | €32,856 | €20,739 | -€12,116 | -36.9% |
| Financial debts | 170/4 | €32,856 | €20,739 | -€12,116 | -36.9% |
| Amounts payable within one year | 42/48 | €92,645 | €261,368 | +€168,723 | +182.1% |
| Current portion of amounts payable after more than one year | 42 | €11,617 | €12,116 | +€499 | +4.3% |
| Trade debts | 44 | €20,502 | €54,366 | +€33,863 | +165.2% |
| Suppliers | 440/4 | €20,502 | €54,366 | +€33,863 | +165.2% |
| Advances received on contracts in progress | 46 | €3,219 | €155,000 | +€151,781 | +4714.7% |
| Taxes, remuneration and social security | 45 | €1,756 | €2,761 | +€1,005 | +57.2% |
| Taxes | 450/3 | €1,756 | €2,761 | +€1,005 | +57.2% |
| Other amounts payable | 47/48 | €55,550 | €37,125 | -€18,426 | -33.2% |
| Non-recurring operating income | 76A | - | €2,738 | +€2,738 | |
| Remuneration, social security and pensions | 62 | €37,441 | - | -€37,441 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,864 | €19,125 | +€260 | +1.4% |
| Other operating charges | 640/8 | €941 | €560 | -€382 | -40.6% |
| Gross operating margin | 9900 | €61,150 | €32,465 | -€28,685 | -46.9% |
| Operating profit (loss) | 9901 | €3,904 | €12,780 | +€8,877 | +227.4% |
| Financial income | 75/76B | €20 | €542 | +€522 | +2620.4% |
| Recurring financial income | 75 | €20 | €542 | +€522 | +2620.4% |
| Financial charges | 65/66B | €2,995 | €7,234 | +€4,239 | +141.5% |
| Recurring financial charges | 65 | €2,995 | €7,234 | +€4,239 | +141.5% |
| Profit (loss) for the period before taxes | 9903 | €928 | €6,088 | +€5,160 | +555.9% |
| Income taxes | 67/77 | €756 | €1,484 | +€728 | +96.3% |
| Profit (loss) for the period | 9904 | €172 | €4,605 | +€4,432 | +2573.5% |
| Profit (loss) for the period to be appropriated | 9905 | €172 | €4,605 | +€4,432 | +2573.5% |
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 11 October 2026 via checked.be.