SANIFAR: 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.
SANIFAR
Largest movements
- Receivables within one year +€37,059
up €37,059 (+4.2%), from €881,160 to €918,219
of which Other amounts receivable: +€64,880
- Tangible fixed assets -€25,460
down €25,460 (-13.2%), from €192,389 to €166,929
of which Land and buildings: -€23,948
- Stocks and contracts -€13,495
down €13,495 (-8.7%), from €155,240 to €141,745
- Trade debts -€67,937
down €67,937 (-36.7%), from €185,352 to €117,414
- Reserves +€49,219
up €49,219 (+4.9%), from €996,289 to €1.0m
- Gross operating margin +€97,366
up €97,366 (+39.5%), from €246,299 to €343,664
- Staff costs +€90,662
up €90,662 (+55.7%), from €162,851 to €253,513
- Financial income -€6,398
down €6,398 (-25.8%), from €24,835 to €18,437
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 | €1,247,414 | €1,240,885 | -€6,529 | -0.5% |
| Fixed assets | 21/28 | €192,389 | €166,929 | -€25,460 | -13.2% |
| Tangible fixed assets | 22/27 | €192,389 | €166,929 | -€25,460 | -13.2% |
| Land and buildings | 22 | €169,040 | €145,092 | -€23,948 | -14.2% |
| Plant, machinery and equipment | 23 | €17,806 | €15,919 | -€1,886 | -10.6% |
| Furniture and vehicles | 24 | €5,543 | €5,917 | +€374 | +6.7% |
| Current assets | 29/58 | €1,055,025 | €1,073,956 | +€18,931 | +1.8% |
| Stocks and contracts in progress | 3 | €155,240 | €141,745 | -€13,495 | -8.7% |
| Stocks | 30/36 | €155,240 | €141,745 | -€13,495 | -8.7% |
| Amounts receivable within one year | 40/41 | €881,160 | €918,219 | +€37,059 | +4.2% |
| Trade receivables | 40 | €253,472 | €225,651 | -€27,821 | -11.0% |
| Other amounts receivable | 41 | €627,688 | €692,568 | +€64,880 | +10.3% |
| Cash at bank and in hand | 54/58 | €18,625 | €13,993 | -€4,632 | -24.9% |
| Total equity and liabilities | 10/49 | €1,247,414 | €1,240,885 | -€6,529 | -0.5% |
| Equity | 10/15 | €1,033,441 | €1,082,660 | +€49,219 | +4.8% |
| Contributions | 10/11 | €37,153 | €37,153 | = | 0.0% |
| Reserves | 13 | €996,289 | €1,045,508 | +€49,219 | +4.9% |
| Distributable reserves | 133 | €996,289 | €1,045,508 | +€49,219 | +4.9% |
| Amounts payable | 17/49 | €213,973 | €158,225 | -€55,748 | -26.1% |
| Amounts payable within one year | 42/48 | €213,973 | €158,225 | -€55,748 | -26.1% |
| Trade debts | 44 | €185,352 | €117,414 | -€67,937 | -36.7% |
| Suppliers | 440/4 | €185,352 | €117,414 | -€67,937 | -36.7% |
| Taxes, remuneration and social security | 45 | €28,621 | €40,811 | +€12,190 | +42.6% |
| Taxes | 450/3 | €4,703 | €9,932 | +€5,229 | +111% |
| Remuneration and social security | 454/9 | €23,918 | €30,879 | +€6,960 | +29.1% |
| Remuneration, social security and pensions | 62 | €162,851 | €253,513 | +€90,662 | +55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,713 | €32,376 | +€663 | +2.1% |
| Other operating charges | 640/8 | €7,282 | €5,217 | -€2,065 | -28.4% |
| Gross operating margin | 9900 | €246,299 | €343,664 | +€97,366 | +39.5% |
| Operating profit (loss) | 9901 | €44,452 | €52,557 | +€8,105 | +18.2% |
| Financial income | 75/76B | €24,835 | €18,437 | -€6,398 | -25.8% |
| Recurring financial income | 75 | €24,835 | €18,437 | -€6,398 | -25.8% |
| Financial charges | 65/66B | €565 | €874 | +€309 | +54.7% |
| Recurring financial charges | 65 | €565 | €874 | +€309 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | €68,723 | €70,120 | +€1,397 | +2.0% |
| Income taxes | 67/77 | €19,031 | €20,902 | +€1,871 | +9.8% |
| Profit (loss) for the period | 9904 | €49,692 | €49,219 | -€474 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,692 | €49,219 | -€474 | -1.0% |
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.