SANS VALEUR: 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.
SANS VALEUR
Largest movements
- Receivables within one year +€13,239
up €13,239 (+89.8%), from €14,746 to €27,984
of which Other amounts receivable: +€12,461
- Tangible fixed assets -€2,374
no longer reported in 2025 (was €2,374)
- Tax, wage and social debts +€10,813
up €10,813 (+191%), from €5,669 to €16,482
- Profit (loss) carried forward +€2,031
up €2,031 (+12.2%), from €16,708 to €18,739
- Current portion of long-term debt -€2,000
no longer reported in 2025 (was €2,000)
- Trade debts +€404
up €404 (+331%), from €122 to €526
- Staff costs +€12,398
new in 2025: €12,398
- Gross operating margin +€9,970
up €9,970 (+67.6%), from €14,751 to €24,722
- Taxes +€4,404
up €4,404 (+291%), from €1,516 to €5,920
- Other operating charges -€2,414
down €2,414 (-71.7%), from €3,368 to €954
- Depreciation -€1,959
down €1,959 (-45.2%), from €4,333 to €2,374
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 | €26,499 | €37,747 | +€11,248 | +42.4% |
| Fixed assets | 21/28 | €11,474 | €9,372 | -€2,102 | -18.3% |
| Tangible fixed assets | 22/27 | €2,374 | - | -€2,374 | |
| Furniture and vehicles | 24 | €2,374 | - | -€2,374 | |
| Financial fixed assets | 28 | €9,100 | €9,372 | +€272 | +3.0% |
| Current assets | 29/58 | €15,025 | €28,375 | +€13,350 | +88.9% |
| Amounts receivable within one year | 40/41 | €14,746 | €27,984 | +€13,239 | +89.8% |
| Trade receivables | 40 | €9,027 | €9,805 | +€778 | +8.6% |
| Other amounts receivable | 41 | €5,718 | €18,179 | +€12,461 | +218% |
| Cash at bank and in hand | 54/58 | €279 | €391 | +€112 | +40.0% |
| Total equity and liabilities | 10/49 | €26,499 | €37,747 | +€11,248 | +42.4% |
| Equity | 10/15 | €18,708 | €20,739 | +€2,031 | +10.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,708 | €18,739 | +€2,031 | +12.2% |
| Amounts payable | 17/49 | €7,791 | €17,008 | +€9,217 | +118% |
| Amounts payable within one year | 42/48 | €7,791 | €17,008 | +€9,217 | +118% |
| Current portion of amounts payable after more than one year | 42 | €2,000 | - | -€2,000 | |
| Trade debts | 44 | €122 | €526 | +€404 | +331% |
| Suppliers | 440/4 | €122 | €526 | +€404 | +331% |
| Taxes, remuneration and social security | 45 | €5,669 | €16,482 | +€10,813 | +191% |
| Taxes | 450/3 | €5,669 | €16,482 | +€10,813 | +191% |
| Remuneration, social security and pensions | 62 | - | €12,398 | +€12,398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,333 | €2,374 | -€1,959 | -45.2% |
| Other operating charges | 640/8 | €3,368 | €954 | -€2,414 | -71.7% |
| Gross operating margin | 9900 | €14,751 | €24,722 | +€9,970 | +67.6% |
| Operating profit (loss) | 9901 | €7,050 | €8,996 | +€1,946 | +27.6% |
| Financial charges | 65/66B | - | €1,045 | +€1,045 | |
| Recurring financial charges | 65 | - | €1,045 | +€1,045 | |
| Profit (loss) for the period before taxes | 9903 | €7,050 | €7,950 | +€901 | +12.8% |
| Income taxes | 67/77 | €1,516 | €5,920 | +€4,404 | +291% |
| Profit (loss) for the period | 9904 | €5,534 | €2,031 | -€3,503 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,534 | €2,031 | -€3,503 | -63.3% |
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 27 October 2026 via checked.be.