SANIMAR: 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.
SANIMAR
Largest movements
- Receivables within one year +€61,968
up €61,968 (+22.5%), from €276,002 to €337,970
of which Trade receivables: +€61,884
- Cash +€58,167
up €58,167 (+47.3%), from €122,895 to €181,062
mainly Net result for the year (+€210,885) and Trade debts (+€122,109)
- Stocks and contracts +€34,122
up €34,122 (+3.3%), from €1.0m to €1.1m
- Tangible fixed assets +€26,270
up €26,270 (+43.8%), from €59,923 to €86,193
of which Plant, machinery and equipment: +€23,128
- Reserves +€210,900
up €210,900 (+41.1%), from €512,998 to €723,898
of which Distributable reserves: +€210,900
- Short-term financial debts -€175,000
down €175,000 (-36.8%), from €475,000 to €300,000
- Trade debts +€122,109
up €122,109 (+53.4%), from €228,710 to €350,819
- Tax, wage and social debts +€88,709
up €88,709 (+90.5%), from €98,054 to €186,763
of which Taxes: +€86,055
- Other debts -€60,000
no longer reported in 2025 (was €60,000)
- Gross operating margin +€124,408
up €124,408 (+24.7%), from €504,473 to €628,881
- Taxes +€28,855
up €28,855 (+57.3%), from €50,328 to €79,183
- Staff costs +€19,601
up €19,601 (+10.9%), from €180,087 to €199,688
- Other operating charges -€8,765
down €8,765 (-39.1%), from €22,407 to €13,642
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 | €1,504,818 | €1,690,495 | +€185,677 | +12.3% |
| Fixed assets | 21/28 | €60,090 | €86,206 | +€26,115 | +43.5% |
| Intangible fixed assets | 21 | €168 | €13 | -€155 | -92.4% |
| Tangible fixed assets | 22/27 | €59,923 | €86,193 | +€26,270 | +43.8% |
| Plant, machinery and equipment | 23 | €57,357 | €80,485 | +€23,128 | +40.3% |
| Furniture and vehicles | 24 | €2,050 | €5,414 | +€3,365 | +164.1% |
| Other tangible fixed assets | 26 | €516 | €294 | -€222 | -43.1% |
| Current assets | 29/58 | €1,444,728 | €1,604,289 | +€159,562 | +11.0% |
| Stocks and contracts in progress | 3 | €1,031,434 | €1,065,556 | +€34,122 | +3.3% |
| Stocks | 30/36 | €1,031,434 | €1,065,556 | +€34,122 | +3.3% |
| Amounts receivable within one year | 40/41 | €276,002 | €337,970 | +€61,968 | +22.5% |
| Trade receivables | 40 | €275,897 | €337,781 | +€61,884 | +22.4% |
| Other amounts receivable | 41 | €105 | €189 | +€84 | +79.8% |
| Cash at bank and in hand | 54/58 | €122,895 | €181,062 | +€58,167 | +47.3% |
| Deferred charges and accrued income | 490/1 | €14,396 | €19,701 | +€5,305 | +36.8% |
| Total equity and liabilities | 10/49 | €1,504,818 | €1,690,495 | +€185,677 | +12.3% |
| Equity | 10/15 | €638,015 | €848,901 | +€210,885 | +33.1% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €512,998 | €723,898 | +€210,900 | +41.1% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €148 | €148 | = | 0.0% |
| Distributable reserves | 133 | €500,350 | €711,250 | +€210,900 | +42.2% |
| Profit (loss) carried forward | 14 | €17 | €3 | -€15 | -84.0% |
| Amounts payable | 17/49 | €866,803 | €841,594 | -€25,209 | -2.9% |
| Amounts payable within one year | 42/48 | €862,924 | €837,582 | -€25,342 | -2.9% |
| Financial debts | 43 | €475,000 | €300,000 | -€175,000 | -36.8% |
| Credit institutions | 430/8 | €475,000 | €300,000 | -€175,000 | -36.8% |
| Trade debts | 44 | €228,710 | €350,819 | +€122,109 | +53.4% |
| Suppliers | 440/4 | €228,710 | €350,819 | +€122,109 | +53.4% |
| Advances received on contracts in progress | 46 | €1,160 | - | -€1,160 | |
| Taxes, remuneration and social security | 45 | €98,054 | €186,763 | +€88,709 | +90.5% |
| Taxes | 450/3 | €77,991 | €164,046 | +€86,055 | +110.3% |
| Remuneration and social security | 454/9 | €20,063 | €22,717 | +€2,654 | +13.2% |
| Other amounts payable | 47/48 | €60,000 | - | -€60,000 | |
| Accrued charges and deferred income | 492/3 | €3,879 | €4,013 | +€134 | +3.4% |
| Non-recurring operating income | 76A | €4,855 | €1,623 | -€3,232 | -66.6% |
| Remuneration, social security and pensions | 62 | €180,087 | €199,688 | +€19,601 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,817 | €26,034 | +€1,218 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,740 | €5,341 | +€2,602 | +95.0% |
| Other operating charges | 640/8 | €22,407 | €13,642 | -€8,765 | -39.1% |
| Non-recurring operating charges | 66A | €2,694 | €23 | -€2,671 | -99.2% |
| Gross operating margin | 9900 | €504,473 | €628,881 | +€124,408 | +24.7% |
| Operating profit (loss) | 9901 | €271,730 | €384,153 | +€112,424 | +41.4% |
| Financial income | 75/76B | €3,219 | €4,595 | +€1,376 | +42.8% |
| Recurring financial income | 75 | €3,219 | €4,595 | +€1,376 | +42.8% |
| Financial charges | 65/66B | €100,160 | €98,680 | -€1,480 | -1.5% |
| Recurring financial charges | 65 | €100,160 | €98,680 | -€1,480 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €174,788 | €290,068 | +€115,280 | +66.0% |
| Income taxes | 67/77 | €50,328 | €79,183 | +€28,855 | +57.3% |
| Profit (loss) for the period | 9904 | €124,460 | €210,885 | +€86,425 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,460 | €210,885 | +€86,425 | +69.4% |
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.