SANJOE: 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.
SANJOE
Largest movements
- Receivables within one year +€67,361
up €67,361 (+81.4%), from €82,787 to €150,148
of which Trade receivables: +€67,361
- Stocks and contracts +€38,938
up €38,938 (+21.5%), from €181,429 to €220,368
- Tangible fixed assets +€28,945
up €28,945 (+38.3%), from €75,510 to €104,455
of which Other tangible fixed assets: +€43,735
- Cash +€22,027
up €22,027 (+105.0%), from €20,976 to €43,003
mainly Net result for the year (+€181,210) and Advances received (+€54,739)
- Profit (loss) carried forward +€181,210
up €181,210 (+84.5%), from -€214,401 to -€33,191
- Other debts -€60,666
down €60,666 (-99.7%), from €60,828 to €162
- Advances received +€54,739
up €54,739 (+21.6%), from €253,925 to €308,664
- Current portion of long-term debt -€44,760
down €44,760 (-76.1%), from €58,832 to €14,071
- Debts after one year +€21,103
up €21,103 (+70.5%), from €29,937 to €51,041
- Gross operating margin +€133,256
up €133,256 (+71.3%), from €186,771 to €320,026
- Staff costs +€43,600
up €43,600 (+40.3%), from €108,100 to €151,700
- Financial income +€4,880
up €4,880 (+13.2%), from €36,984 to €41,864
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 | €366,004 | €524,802 | +€158,798 | +43.4% |
| Fixed assets | 21/28 | €75,686 | €104,455 | +€28,770 | +38.0% |
| Intangible fixed assets | 21 | €176 | - | -€176 | |
| Tangible fixed assets | 22/27 | €75,510 | €104,455 | +€28,945 | +38.3% |
| Plant, machinery and equipment | 23 | €66,718 | €51,929 | -€14,789 | -22.2% |
| Other tangible fixed assets | 26 | €8,791 | €52,526 | +€43,735 | +497.5% |
| Current assets | 29/58 | €290,318 | €420,347 | +€130,029 | +44.8% |
| Stocks and contracts in progress | 3 | €181,429 | €220,368 | +€38,938 | +21.5% |
| Stocks | 30/36 | €181,429 | €220,368 | +€38,938 | +21.5% |
| Amounts receivable within one year | 40/41 | €82,787 | €150,148 | +€67,361 | +81.4% |
| Trade receivables | 40 | €82,785 | €150,146 | +€67,361 | +81.4% |
| Other amounts receivable | 41 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,976 | €43,003 | +€22,027 | +105.0% |
| Deferred charges and accrued income | 490/1 | €5,126 | €6,828 | +€1,702 | +33.2% |
| Total equity and liabilities | 10/49 | €366,004 | €524,802 | +€158,798 | +43.4% |
| Equity | 10/15 | -€144,401 | €36,809 | +€181,210 | |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€214,401 | -€33,191 | +€181,210 | +84.5% |
| Amounts payable | 17/49 | €510,405 | €487,993 | -€22,412 | -4.4% |
| Amounts payable after more than one year | 17 | €29,937 | €51,041 | +€21,103 | +70.5% |
| Financial debts | 170/4 | €29,937 | €51,041 | +€21,103 | +70.5% |
| Amounts payable within one year | 42/48 | €480,468 | €422,506 | -€57,962 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €58,832 | €14,071 | -€44,760 | -76.1% |
| Trade debts | 44 | €79,726 | €63,698 | -€16,028 | -20.1% |
| Suppliers | 440/4 | €79,726 | €63,698 | -€16,028 | -20.1% |
| Advances received on contracts in progress | 46 | €253,925 | €308,664 | +€54,739 | +21.6% |
| Taxes, remuneration and social security | 45 | €27,157 | €35,910 | +€8,753 | +32.2% |
| Taxes | 450/3 | €5,088 | €12,400 | +€7,313 | +143.7% |
| Remuneration and social security | 454/9 | €22,070 | €23,510 | +€1,440 | +6.5% |
| Other amounts payable | 47/48 | €60,828 | €162 | -€60,666 | -99.7% |
| Accrued charges and deferred income | 492/3 | - | €14,447 | +€14,447 | |
| Remuneration, social security and pensions | 62 | €108,100 | €151,700 | +€43,600 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,456 | €22,834 | +€1,378 | +6.4% |
| Other operating charges | 640/8 | €2,676 | €1,749 | -€926 | -34.6% |
| Non-recurring operating charges | 66A | €1,568 | - | -€1,568 | |
| Gross operating margin | 9900 | €186,771 | €320,026 | +€133,256 | +71.3% |
| Operating profit (loss) | 9901 | €52,971 | €143,744 | +€90,773 | +171.4% |
| Financial income | 75/76B | €36,984 | €41,864 | +€4,880 | +13.2% |
| Recurring financial income | 75 | €36,984 | €41,864 | +€4,880 | +13.2% |
| Financial charges | 65/66B | €5,619 | €4,361 | -€1,257 | -22.4% |
| Recurring financial charges | 65 | €5,619 | €4,361 | -€1,257 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €84,336 | €181,246 | +€96,910 | +114.9% |
| Income taxes | 67/77 | - | €36 | +€36 | |
| Profit (loss) for the period | 9904 | €84,336 | €181,210 | +€96,874 | +114.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,336 | €181,210 | +€96,874 | +114.9% |
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.