SAPASIGILEX: 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.
SAPASIGILEX
Largest movements
- Receivables within one year -€8,896
down €8,896 (-43.9%), from €20,277 to €11,381
of which Trade receivables: -€11,843
- Tangible fixed assets +€7,613
up €7,613 (+472%), from €1,612 to €9,225
of which Furniture and vehicles: +€7,854
- Cash +€5,159
up €5,159 (+72.8%), from €7,090 to €12,249
mainly Net result for the year (+€19,740) and Receivables within one year (+€8,896)
- Reserves +€19,740
new in 2025: €19,740
- Other debts -€9,027
down €9,027 (-68.8%), from €13,112 to €4,084
- Tax, wage and social debts -€4,617
down €4,617 (-63.8%), from €7,236 to €2,620
- Accrued charges and deferred income -€2,374
no longer reported in 2025 (was €2,374)
- Gross operating margin -€9,435
down €9,435 (-21.0%), from €44,823 to €35,388
- Depreciation +€1,853
up €1,853 (+315%), from €588 to €2,441
- Taxes -€1,428
down €1,428 (-10.6%), from €13,412 to €11,984
- Financial charges +€538
up €538 (+260%), from €207 to €745
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 | €30,092 | €34,015 | +€3,923 | +13.0% |
| Fixed assets | 21/28 | €1,612 | €9,225 | +€7,613 | +472% |
| Tangible fixed assets | 22/27 | €1,612 | €9,225 | +€7,613 | +472% |
| Plant, machinery and equipment | 23 | €899 | €658 | -€240 | -26.8% |
| Furniture and vehicles | 24 | €713 | €8,567 | +€7,854 | +1,101% |
| Current assets | 29/58 | €28,480 | €24,790 | -€3,690 | -13.0% |
| Amounts receivable within one year | 40/41 | €20,277 | €11,381 | -€8,896 | -43.9% |
| Trade receivables | 40 | €20,277 | €8,435 | -€11,843 | -58.4% |
| Other amounts receivable | 41 | - | €2,947 | +€2,947 | |
| Cash at bank and in hand | 54/58 | €7,090 | €12,249 | +€5,159 | +72.8% |
| Deferred charges and accrued income | 490/1 | €1,113 | €1,159 | +€46 | +4.2% |
| Total equity and liabilities | 10/49 | €30,092 | €34,015 | +€3,923 | +13.0% |
| Equity | 10/15 | €5,803 | €25,543 | +€19,740 | +340% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €19,740 | +€19,740 | |
| Distributable reserves | 133 | - | €19,740 | +€19,740 | |
| Profit (loss) carried forward | 14 | -€12,797 | -€12,797 | = | 0.0% |
| Amounts payable | 17/49 | €24,288 | €8,472 | -€15,817 | -65.1% |
| Amounts payable within one year | 42/48 | €21,914 | €8,472 | -€13,443 | -61.3% |
| Trade debts | 44 | €1,567 | €1,768 | +€201 | +12.8% |
| Suppliers | 440/4 | €1,567 | €1,768 | +€201 | +12.8% |
| Taxes, remuneration and social security | 45 | €7,236 | €2,620 | -€4,617 | -63.8% |
| Taxes | 450/3 | €7,236 | €2,620 | -€4,617 | -63.8% |
| Other amounts payable | 47/48 | €13,112 | €4,084 | -€9,027 | -68.8% |
| Accrued charges and deferred income | 492/3 | €2,374 | - | -€2,374 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €588 | €2,441 | +€1,853 | +315% |
| Other operating charges | 640/8 | €402 | €598 | +€197 | +49.0% |
| Gross operating margin | 9900 | €44,823 | €35,388 | -€9,435 | -21.0% |
| Operating profit (loss) | 9901 | €43,834 | €32,349 | -€11,485 | -26.2% |
| Financial income | 75/76B | €18 | €119 | +€102 | +571% |
| Recurring financial income | 75 | €18 | €119 | +€102 | +571% |
| Financial charges | 65/66B | €207 | €745 | +€538 | +260% |
| Recurring financial charges | 65 | €207 | €745 | +€538 | +260% |
| Profit (loss) for the period before taxes | 9903 | €43,644 | €31,723 | -€11,921 | -27.3% |
| Income taxes | 67/77 | €13,412 | €11,984 | -€1,428 | -10.6% |
| Profit (loss) for the period | 9904 | €30,233 | €19,740 | -€10,493 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,233 | €19,740 | -€10,493 | -34.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.