Sapajou: 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.
Sapajou
Largest movements
- Cash +€52,987
up €52,987 (+8.7%), from €610,375 to €663,363
mainly Net result for the year (+€69,101) and Depreciation (+€18,480)
- Tangible fixed assets -€17,107
down €17,107 (-10.9%), from €157,407 to €140,301
of which Land and buildings: -€11,625
- Reserves +€23,946
up €23,946 (+8.0%), from €297,921 to €321,867
of which Distributable reserves: +€23,946
- Gross operating margin +€12,311
up €12,311 (+7.9%), from €155,663 to €167,973
- Taxes +€3,950
up €3,950 (+13.7%), from €28,801 to €32,750
- Financial charges -€3,388
down €3,388 (-17.5%), from €19,371 to €15,984
- Other operating charges +€3,118
up €3,118 (+28.1%), from €11,102 to €14,220
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 | €775,921 | €811,003 | +€35,082 | +4.5% |
| Fixed assets | 21/28 | €157,531 | €140,425 | -€17,107 | -10.9% |
| Tangible fixed assets | 22/27 | €157,407 | €140,301 | -€17,107 | -10.9% |
| Land and buildings | 22 | €125,984 | €114,359 | -€11,625 | -9.2% |
| Furniture and vehicles | 24 | €866 | €1,281 | +€415 | +47.9% |
| Other tangible fixed assets | 26 | €30,557 | €24,661 | -€5,897 | -19.3% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €618,390 | €670,579 | +€52,189 | +8.4% |
| Amounts receivable within one year | 40/41 | €2,199 | €4,449 | +€2,250 | +102% |
| Other amounts receivable | 41 | €2,199 | €4,449 | +€2,250 | +102% |
| Cash at bank and in hand | 54/58 | €610,375 | €663,363 | +€52,987 | +8.7% |
| Deferred charges and accrued income | 490/1 | €5,816 | €2,767 | -€3,049 | -52.4% |
| Total equity and liabilities | 10/49 | €775,921 | €811,003 | +€35,082 | +4.5% |
| Equity | 10/15 | €512,358 | €536,304 | +€23,946 | +4.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €297,921 | €321,867 | +€23,946 | +8.0% |
| Non-distributable reserves | 130/1 | €91,781 | €91,781 | = | 0.0% |
| Reserves not available under the articles | 1311 | €91,781 | €91,781 | = | 0.0% |
| Distributable reserves | 133 | €206,140 | €230,086 | +€23,946 | +11.6% |
| Profit (loss) carried forward | 14 | €195,887 | €195,887 | = | 0.0% |
| Amounts payable | 17/49 | €263,563 | €274,699 | +€11,136 | +4.2% |
| Amounts payable after more than one year | 17 | - | €3,600 | +€3,600 | |
| Other amounts payable | 178/9 | - | €3,600 | +€3,600 | |
| Amounts payable within one year | 42/48 | €263,563 | €271,099 | +€7,536 | +2.9% |
| Trade debts | 44 | €1,267 | €2,055 | +€788 | +62.2% |
| Suppliers | 440/4 | €1,267 | €2,055 | +€788 | +62.2% |
| Taxes, remuneration and social security | 45 | €10,074 | €11,386 | +€1,312 | +13.0% |
| Taxes | 450/3 | €5,683 | €7,644 | +€1,961 | +34.5% |
| Remuneration and social security | 454/9 | €4,391 | €3,742 | -€649 | -14.8% |
| Other amounts payable | 47/48 | €252,223 | €257,658 | +€5,435 | +2.2% |
| Remuneration, social security and pensions | 62 | €18,623 | €18,903 | +€280 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,868 | €18,480 | -€388 | -2.1% |
| Other operating charges | 640/8 | €11,102 | €14,220 | +€3,118 | +28.1% |
| Gross operating margin | 9900 | €155,663 | €167,973 | +€12,311 | +7.9% |
| Operating profit (loss) | 9901 | €107,070 | €116,371 | +€9,301 | +8.7% |
| Financial income | 75/76B | €1,583 | €1,464 | -€119 | -7.5% |
| Recurring financial income | 75 | €1,583 | €1,464 | -€119 | -7.5% |
| Financial charges | 65/66B | €19,371 | €15,984 | -€3,388 | -17.5% |
| Recurring financial charges | 65 | €19,371 | €15,984 | -€3,388 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €89,282 | €101,851 | +€12,569 | +14.1% |
| Income taxes | 67/77 | €28,801 | €32,750 | +€3,950 | +13.7% |
| Profit (loss) for the period | 9904 | €60,481 | €69,101 | +€8,620 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,481 | €69,101 | +€8,620 | +14.3% |
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 14 October 2026 via checked.be.