SANZUMED: what changed
Two fiscal 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.
SANZUMED
Largest movements
- Receivables within one year -€28,005
down €28,005 (-26.6%), from €105,303 to €77,298
of which Other amounts receivable: -€28,415
- Cash -€23,380
down €23,380 (-35.7%), from €65,538 to €42,159
mainly Contributions, distributions and other (-€120,000) and Investment in fixed assets (net) (-€13,676)
- Current investments +€6,875
up €6,875 (+9.8%), from €69,846 to €76,721
- Tangible fixed assets -€5,249
down €5,249 (-9.0%), from €58,574 to €53,326
of which Furniture and vehicles: -€15,726
- Reserves -€38,946
down €38,946 (-15.3%), from €254,498 to €215,552
- Debts after one year -€9,805
down €9,805 (-25.4%), from €38,676 to €28,871
- Gross operating margin +€10,323
up €10,323 (+9.4%), from €110,191 to €120,515
- Financial income +€4,910
up €4,910 (+118.6%), from €4,140 to €9,050
- Taxes +€3,746
up €3,746 (+18.0%), from €20,843 to €24,588
- Depreciation +€1,977
up €1,977 (+11.7%), from €16,947 to €18,924
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 | €325,504 | €277,911 | -€47,593 | -14.6% |
| Fixed assets | 21/28 | €62,074 | €56,826 | -€5,249 | -8.5% |
| Tangible fixed assets | 22/27 | €58,574 | €53,326 | -€5,249 | -9.0% |
| Plant, machinery and equipment | 23 | €2,583 | €6,511 | +€3,928 | +152.0% |
| Furniture and vehicles | 24 | €51,606 | €35,879 | -€15,726 | -30.5% |
| Other tangible fixed assets | 26 | €4,386 | €10,936 | +€6,550 | +149.4% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €263,429 | €221,086 | -€42,344 | -16.1% |
| Amounts receivable within one year | 40/41 | €105,303 | €77,298 | -€28,005 | -26.6% |
| Trade receivables | 40 | - | €410 | +€410 | |
| Other amounts receivable | 41 | €105,303 | €76,888 | -€28,415 | -27.0% |
| Current investments | 50/53 | €69,846 | €76,721 | +€6,875 | +9.8% |
| Cash at bank and in hand | 54/58 | €65,538 | €42,159 | -€23,380 | -35.7% |
| Deferred charges and accrued income | 490/1 | €22,742 | €24,908 | +€2,166 | +9.5% |
| Total equity and liabilities | 10/49 | €325,504 | €277,911 | -€47,593 | -14.6% |
| Equity | 10/15 | €273,098 | €234,152 | -€38,946 | -14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,498 | €215,552 | -€38,946 | -15.3% |
| Distributable reserves | 133 | €254,498 | €215,552 | -€38,946 | -15.3% |
| Amounts payable | 17/49 | €52,406 | €43,760 | -€8,646 | -16.5% |
| Amounts payable after more than one year | 17 | €38,676 | €28,871 | -€9,805 | -25.4% |
| Financial debts | 170/4 | €38,676 | €28,871 | -€9,805 | -25.4% |
| Amounts payable within one year | 42/48 | €13,730 | €14,889 | +€1,159 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €9,208 | €9,805 | +€598 | +6.5% |
| Trade debts | 44 | €1,612 | €2,174 | +€561 | +34.8% |
| Suppliers | 440/4 | €1,612 | €2,174 | +€561 | +34.8% |
| Taxes, remuneration and social security | 45 | €2,910 | €2,910 | = | 0.0% |
| Taxes | 450/3 | €2,910 | €2,910 | = | 0.0% |
| Non-recurring operating income | 76A | €121 | - | -€121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,947 | €18,924 | +€1,977 | +11.7% |
| Other operating charges | 640/8 | €393 | €796 | +€403 | +102.5% |
| Non-recurring operating charges | 66A | €103 | €29 | -€74 | -71.9% |
| Gross operating margin | 9900 | €110,191 | €120,515 | +€10,323 | +9.4% |
| Operating profit (loss) | 9901 | €92,748 | €100,766 | +€8,018 | +8.6% |
| Financial income | 75/76B | €4,140 | €9,050 | +€4,910 | +118.6% |
| Recurring financial income | 75 | €4,140 | €9,050 | +€4,910 | +118.6% |
| Financial charges | 65/66B | €4,963 | €4,173 | -€789 | -15.9% |
| Recurring financial charges | 65 | €4,963 | €4,173 | -€789 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €91,926 | €105,642 | +€13,717 | +14.9% |
| Income taxes | 67/77 | €20,843 | €24,588 | +€3,746 | +18.0% |
| Profit (loss) for the period | 9904 | €71,083 | €81,054 | +€9,971 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,083 | €81,054 | +€9,971 | +14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.