Sano Management: 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.
Sano Management
Largest movements
- Tangible fixed assets -€13,854
down €13,854 (-44.9%), from €30,865 to €17,010
of which Plant, machinery and equipment: -€12,748
- Intangible fixed assets -€8,500
down €8,500 (-20.3%), from €41,780 to €33,280
- Cash +€4,252
up €4,252 (+16.9%), from €25,216 to €29,468
mainly Depreciation (+€22,354) and Net result for the year (+€14,298)
- Deferred charges and accrued income -€3,891
no longer reported in 2025 (was €3,891)
- Receivables within one year +€2,392
up €2,392 (+7.2%), from €33,372 to €35,763
of which Other amounts receivable: +€2,350
- Debts after one year -€20,844
down €20,844 (-58.4%), from €35,667 to €14,823
- Reserves +€14,298
up €14,298 (+110%), from €12,980 to €27,278
- Trade debts -€14,135
down €14,135 (-39.5%), from €35,769 to €21,634
- Current portion of long-term debt +€5,951
up €5,951 (+25.8%), from €23,066 to €29,016
- Tax, wage and social debts -€3,448
down €3,448 (-17.6%), from €19,590 to €16,142
of which Remuneration and social security: -€2,833
- Staff costs +€26,725
up €26,725 (+41.4%), from €64,489 to €91,213
- Gross operating margin +€20,820
up €20,820 (+17.1%), from €121,917 to €142,737
- Financial charges -€9,934
down €9,934 (-77.1%), from €12,879 to €2,945
- Other operating charges +€3,429
up €3,429 (+96.6%), from €3,549 to €6,979
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 | €162,072 | €143,893 | -€18,179 | -11.2% |
| Fixed assets | 21/28 | €72,993 | €50,638 | -€22,354 | -30.6% |
| Intangible fixed assets | 21 | €41,780 | €33,280 | -€8,500 | -20.3% |
| Tangible fixed assets | 22/27 | €30,865 | €17,010 | -€13,854 | -44.9% |
| Plant, machinery and equipment | 23 | €24,680 | €11,932 | -€12,748 | -51.7% |
| Furniture and vehicles | 24 | €617 | €78 | -€539 | -87.4% |
| Other tangible fixed assets | 26 | €5,567 | €5,000 | -€567 | -10.2% |
| Financial fixed assets | 28 | €348 | €348 | = | 0.0% |
| Current assets | 29/58 | €89,079 | €93,255 | +€4,175 | +4.7% |
| Stocks and contracts in progress | 3 | €26,600 | €28,023 | +€1,423 | +5.4% |
| Stocks | 30/36 | €26,600 | €28,023 | +€1,423 | +5.4% |
| Amounts receivable within one year | 40/41 | €33,372 | €35,763 | +€2,392 | +7.2% |
| Trade receivables | 40 | €135 | €177 | +€42 | +31.0% |
| Other amounts receivable | 41 | €33,237 | €35,586 | +€2,350 | +7.1% |
| Cash at bank and in hand | 54/58 | €25,216 | €29,468 | +€4,252 | +16.9% |
| Deferred charges and accrued income | 490/1 | €3,891 | - | -€3,891 | |
| Total equity and liabilities | 10/49 | €162,072 | €143,893 | -€18,179 | -11.2% |
| Equity | 10/15 | €47,980 | €62,278 | +€14,298 | +29.8% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €12,980 | €27,278 | +€14,298 | +110% |
| Distributable reserves | 133 | €12,980 | €27,278 | +€14,298 | +110% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €114,092 | €81,615 | -€32,477 | -28.5% |
| Amounts payable after more than one year | 17 | €35,667 | €14,823 | -€20,844 | -58.4% |
| Financial debts | 170/4 | €35,667 | €14,823 | -€20,844 | -58.4% |
| Amounts payable within one year | 42/48 | €78,425 | €66,792 | -€11,633 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €23,066 | €29,016 | +€5,951 | +25.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €35,769 | €21,634 | -€14,135 | -39.5% |
| Suppliers | 440/4 | €35,769 | €21,634 | -€14,135 | -39.5% |
| Taxes, remuneration and social security | 45 | €19,590 | €16,142 | -€3,448 | -17.6% |
| Taxes | 450/3 | €13,424 | €12,808 | -€616 | -4.6% |
| Remuneration and social security | 454/9 | €6,166 | €3,334 | -€2,833 | -45.9% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Non-recurring operating income | 76A | - | €15,250 | +€15,250 | |
| Remuneration, social security and pensions | 62 | €64,489 | €91,213 | +€26,725 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,523 | €22,354 | -€1,169 | -5.0% |
| Other operating charges | 640/8 | €3,549 | €6,979 | +€3,429 | +96.6% |
| Gross operating margin | 9900 | €121,917 | €142,737 | +€20,820 | +17.1% |
| Operating profit (loss) | 9901 | €30,355 | €22,190 | -€8,165 | -26.9% |
| Financial income | 75/76B | €2,026 | €1,768 | -€258 | -12.7% |
| Recurring financial income | 75 | €2,026 | €1,768 | -€258 | -12.7% |
| Financial charges | 65/66B | €12,879 | €2,945 | -€9,934 | -77.1% |
| Recurring financial charges | 65 | €12,879 | €2,945 | -€9,934 | -77.1% |
| Profit (loss) for the period before taxes | 9903 | €19,502 | €21,013 | +€1,511 | +7.7% |
| Income taxes | 67/77 | €7,377 | €6,715 | -€661 | -9.0% |
| Profit (loss) for the period | 9904 | €12,125 | €14,298 | +€2,173 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,125 | €14,298 | +€2,173 | +17.9% |
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 24 October 2026 via checked.be.