SANIMAG: 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.
SANIMAG
Largest movements
- Stocks and contracts +€74,500
up €74,500 (+10.6%), from €701,844 to €776,344
- Cash +€19,148
up €19,148 (+81.5%), from €23,484 to €42,633
mainly Trade debts (+€97,705) and Net result for the year (+€24,429)
- Trade debts +€97,705
up €97,705 (+32.9%), from €297,203 to €394,908
- Advances received -€48,294
no longer reported in 2025 (was €48,294)
- Profit (loss) carried forward +€24,429
up €24,429 (+24.4%), from €100,072 to €124,500
- Tax, wage and social debts +€12,948
up €12,948 (+54.4%), from €23,802 to €36,750
of which Taxes: +€12,182
- Other debts +€11,500
up €11,500 (+4.3%), from €265,704 to €277,204
- Gross operating margin +€7,751
up €7,751 (+18.2%), from €42,476 to €50,226
- Staff costs +€5,340
up €5,340 (+97.7%), from €5,467 to €10,808
- Taxes -€4,288
down €4,288 (-35.4%), from €12,100 to €7,812
- Other operating charges -€3,982
down €3,982 (-83.3%), from €4,781 to €799
- Financial charges +€2,696
up €2,696 (+1229.9%), from €219 to €2,915
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 | €763,637 | €853,822 | +€90,185 | +11.8% |
| Fixed assets | 21/28 | €38,309 | €34,845 | -€3,463 | -9.0% |
| Tangible fixed assets | 22/27 | €30,559 | €27,095 | -€3,463 | -11.3% |
| Furniture and vehicles | 24 | €30,559 | €27,095 | -€3,463 | -11.3% |
| Financial fixed assets | 28 | €7,750 | €7,750 | = | 0.0% |
| Current assets | 29/58 | €725,328 | €818,977 | +€93,648 | +12.9% |
| Stocks and contracts in progress | 3 | €701,844 | €776,344 | +€74,500 | +10.6% |
| Stocks | 30/36 | €701,844 | €776,344 | +€74,500 | +10.6% |
| Cash at bank and in hand | 54/58 | €23,484 | €42,633 | +€19,148 | +81.5% |
| Total equity and liabilities | 10/49 | €763,637 | €853,822 | +€90,185 | +11.8% |
| Equity | 10/15 | €120,532 | €144,960 | +€24,429 | +20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,072 | €124,500 | +€24,429 | +24.4% |
| Amounts payable | 17/49 | €643,105 | €708,862 | +€65,756 | +10.2% |
| Amounts payable within one year | 42/48 | €643,105 | €708,862 | +€65,756 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €8,103 | - | -€8,103 | |
| Trade debts | 44 | €297,203 | €394,908 | +€97,705 | +32.9% |
| Suppliers | 440/4 | €297,203 | €394,908 | +€97,705 | +32.9% |
| Advances received on contracts in progress | 46 | €48,294 | - | -€48,294 | |
| Taxes, remuneration and social security | 45 | €23,802 | €36,750 | +€12,948 | +54.4% |
| Taxes | 450/3 | €20,288 | €32,470 | +€12,182 | +60.0% |
| Remuneration and social security | 454/9 | €3,515 | €4,280 | +€766 | +21.8% |
| Other amounts payable | 47/48 | €265,704 | €277,204 | +€11,500 | +4.3% |
| Remuneration, social security and pensions | 62 | €5,467 | €10,808 | +€5,340 | +97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,463 | €3,463 | = | 0.0% |
| Other operating charges | 640/8 | €4,781 | €799 | -€3,982 | -83.3% |
| Gross operating margin | 9900 | €42,476 | €50,226 | +€7,751 | +18.2% |
| Operating profit (loss) | 9901 | €28,764 | €35,156 | +€6,392 | +22.2% |
| Financial charges | 65/66B | €219 | €2,915 | +€2,696 | +1229.9% |
| Recurring financial charges | 65 | €219 | €2,915 | +€2,696 | +1229.9% |
| Profit (loss) for the period before taxes | 9903 | €28,545 | €32,241 | +€3,696 | +12.9% |
| Income taxes | 67/77 | €12,100 | €7,812 | -€4,288 | -35.4% |
| Profit (loss) for the period | 9904 | €16,445 | €24,429 | +€7,984 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,445 | €24,429 | +€7,984 | +48.6% |
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 7 October 2026 via checked.be.