SANOUT: 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.
SANOUT
Largest movements
- Current investments +€150,000
up €150,000 (+6,001%), from €2,500 to €152,500
- Cash +€22,043
up €22,043 (+8.5%), from €257,993 to €280,036
mainly Net result for the year (+€406,052) and Depreciation (+€7,839)
- Receivables within one year +€17,827
up €17,827 (+1,426%), from €1,250 to €19,077
of which Trade receivables: +€13,270
- Reserves +€406,052
up €406,052 (+74.2%), from €546,975 to €953,027
- Other debts -€116,567
down €116,567 (-40.2%), from €290,009 to €173,441
- Short-term financial debts -€98,000
no longer reported in 2026 (was €98,000)
- Gross operating margin +€17,054
up €17,054 (+2.9%), from €585,121 to €602,175
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €968,465 | €1,151,346 | +€182,882 | +18.9% |
| Fixed assets | 21/28 | €705,034 | €697,194 | -€7,839 | -1.1% |
| Tangible fixed assets | 22/27 | €22,325 | €14,486 | -€7,839 | -35.1% |
| Furniture and vehicles | 24 | €22,325 | €14,486 | -€7,839 | -35.1% |
| Financial fixed assets | 28 | €682,708 | €682,708 | = | 0.0% |
| Current assets | 29/58 | €263,431 | €454,152 | +€190,721 | +72.4% |
| Amounts receivable within one year | 40/41 | €1,250 | €19,077 | +€17,827 | +1,426% |
| Trade receivables | 40 | €1,250 | €14,520 | +€13,270 | +1,062% |
| Other amounts receivable | 41 | - | €4,557 | +€4,557 | |
| Current investments | 50/53 | €2,500 | €152,500 | +€150,000 | +6,001% |
| Cash at bank and in hand | 54/58 | €257,993 | €280,036 | +€22,043 | +8.5% |
| Deferred charges and accrued income | 490/1 | €1,688 | €2,539 | +€851 | +50.4% |
| Total equity and liabilities | 10/49 | €968,465 | €1,151,346 | +€182,882 | +18.9% |
| Equity | 10/15 | €556,975 | €963,027 | +€406,052 | +72.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €546,975 | €953,027 | +€406,052 | +74.2% |
| Distributable reserves | 133 | €546,975 | €953,027 | +€406,052 | +74.2% |
| Amounts payable | 17/49 | €411,490 | €188,320 | -€223,170 | -54.2% |
| Amounts payable after more than one year | 17 | €14,744 | €8,643 | -€6,101 | -41.4% |
| Financial debts | 170/4 | €14,744 | €8,643 | -€6,101 | -41.4% |
| Amounts payable within one year | 42/48 | €396,746 | €179,677 | -€217,069 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €6,101 | €6,101 | = | 0.0% |
| Financial debts | 43 | €98,000 | - | -€98,000 | |
| Credit institutions | 430/8 | €98,000 | - | -€98,000 | |
| Trade debts | 44 | €605 | €134 | -€471 | -77.8% |
| Suppliers | 440/4 | €605 | €134 | -€471 | -77.8% |
| Taxes, remuneration and social security | 45 | €2,031 | - | -€2,031 | |
| Taxes | 450/3 | €406 | - | -€406 | |
| Remuneration and social security | 454/9 | €1,625 | - | -€1,625 | |
| Other amounts payable | 47/48 | €290,009 | €173,441 | -€116,567 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,701 | €7,839 | -€1,862 | -19.2% |
| Other operating charges | 640/8 | €976 | €979 | +€3 | +0.3% |
| Gross operating margin | 9900 | €585,121 | €602,175 | +€17,054 | +2.9% |
| Operating profit (loss) | 9901 | €574,443 | €593,356 | +€18,913 | +3.3% |
| Financial income | 75/76B | €400 | €1,001 | +€601 | +150% |
| Recurring financial income | 75 | €400 | €1,001 | +€601 | +150% |
| Financial charges | 65/66B | €1,045 | €2,562 | +€1,517 | +145% |
| Recurring financial charges | 65 | €1,045 | €2,562 | +€1,517 | +145% |
| Profit (loss) for the period before taxes | 9903 | €573,799 | €591,795 | +€17,996 | +3.1% |
| Income taxes | 67/77 | €180,526 | €185,743 | +€5,217 | +2.9% |
| Profit (loss) for the period | 9904 | €393,273 | €406,052 | +€12,779 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €393,273 | €406,052 | +€12,779 | +3.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.