SAPCA Management: 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.
SAPCA Management
Largest movements
- Cash -€2,054
down €2,054 (-73.9%), from €2,779 to €724
mainly Net result for the year (-€2,344) and Receivables within one year (-€24)
- Profit (loss) carried forward -€2,344
down €2,344 (-105.5%), from -€2,221 to -€4,566
- Trade debts +€310
new in 2025: €310
- Gross operating margin -€1,288
new in 2025: -€1,288
- Other operating charges +€467
up €467 (+117.9%), from €396 to €862
- Financial charges -€13
down €13 (-6.4%), from €208 to €194
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 | €2,779 | €748 | -€2,030 | -73.1% |
| Current assets | 29/58 | €2,779 | €748 | -€2,030 | -73.1% |
| Amounts receivable within one year | 40/41 | - | €24 | +€24 | |
| Trade receivables | 40 | - | €24 | +€24 | |
| Cash at bank and in hand | 54/58 | €2,779 | €724 | -€2,054 | -73.9% |
| Total equity and liabilities | 10/49 | €2,779 | €748 | -€2,030 | -73.1% |
| Equity | 10/15 | €2,779 | €434 | -€2,344 | -84.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,221 | -€4,566 | -€2,344 | -105.5% |
| Amounts payable | 17/49 | - | €314 | +€314 | |
| Amounts payable within one year | 42/48 | - | €314 | +€314 | |
| Trade debts | 44 | - | €310 | +€310 | |
| Suppliers | 440/4 | - | €310 | +€310 | |
| Taxes, remuneration and social security | 45 | - | €4 | +€4 | |
| Taxes | 450/3 | - | €4 | +€4 | |
| Other operating charges | 640/8 | €396 | €862 | +€467 | +117.9% |
| Gross operating margin | 9900 | - | -€1,288 | -€1,288 | |
| Operating profit (loss) | 9901 | -€396 | -€2,150 | -€1,754 | -443.2% |
| Financial charges | 65/66B | €208 | €194 | -€13 | -6.4% |
| Recurring financial charges | 65 | €208 | €194 | -€13 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€604 | -€2,344 | -€1,741 | -288.5% |
| Profit (loss) for the period | 9904 | -€604 | -€2,344 | -€1,741 | -288.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€604 | -€2,344 | -€1,741 | -288.5% |
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 9 October 2026 via checked.be.