SAPI 26: 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.
SAPI 26
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+108.9%), from €1.4m to €2.8m
of which Land and buildings: +€1.5m
- Other debts +€1.5m
up €1.5m (+87.3%), from €1.7m to €3.2m
- Depreciation +€10,774
up €10,774 (+18.4%), from €58,622 to €69,395
- Other operating income +€10,000
new in 2025: €10,000
- Services and other goods -€7,677
down €7,677 (-41.2%), from €18,628 to €10,952
- Turnover +€2,024
up €2,024 (+3.9%), from €51,460 to €53,485
- Other operating charges +€1,217
up €1,217 (+39.1%), from €3,108 to €4,324
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 | €1,400,339 | €2,875,273 | +€1.5m | +105.3% |
| Fixed assets | 21/28 | €1,352,574 | €2,825,012 | +€1.5m | +108.9% |
| Tangible fixed assets | 22/27 | €1,352,574 | €2,825,012 | +€1.5m | +108.9% |
| Land and buildings | 22 | €1,312,824 | €2,783,577 | +€1.5m | +112.0% |
| Plant, machinery and equipment | 23 | €39,750 | €33,909 | -€5,841 | -14.7% |
| Furniture and vehicles | 24 | - | €1,304 | +€1,304 | |
| Assets under construction and advance payments | 27 | - | €6,222 | +€6,222 | |
| Current assets | 29/58 | €47,764 | €50,261 | +€2,497 | +5.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €0 | €7,734 | +€7,734 | |
| Trade receivables | 40 | €0 | €7,734 | +€7,734 | |
| Cash at bank and in hand | 54/58 | €47,606 | €40,328 | -€7,278 | -15.3% |
| Deferred charges and accrued income | 490/1 | €158 | €2,199 | +€2,042 | +1294.5% |
| Total equity and liabilities | 10/49 | €1,400,339 | €2,875,273 | +€1.5m | +105.3% |
| Equity | 10/15 | -€322,616 | -€344,306 | -€21,690 | -6.7% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€405,116 | -€426,806 | -€21,690 | -5.4% |
| Amounts payable | 17/49 | €1,722,955 | €3,219,579 | +€1.5m | +86.9% |
| Amounts payable within one year | 42/48 | €1,720,924 | €3,217,579 | +€1.5m | +87.0% |
| Trade debts | 44 | €4,196 | €1,351 | -€2,845 | -67.8% |
| Suppliers | 440/4 | €4,196 | €1,351 | -€2,845 | -67.8% |
| Other amounts payable | 47/48 | €1,716,728 | €3,216,228 | +€1.5m | +87.3% |
| Accrued charges and deferred income | 492/3 | €2,031 | €2,000 | -€31 | -1.5% |
| Operating income | 70/76A | €51,460 | €63,485 | +€12,024 | +23.4% |
| Turnover | 70 | €51,460 | €53,485 | +€2,024 | +3.9% |
| Other operating income | 74 | - | €10,000 | +€10,000 | |
| Operating charges | 60/66A | €80,358 | €84,671 | +€4,314 | +5.4% |
| Services and other goods | 61 | €18,628 | €10,952 | -€7,677 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,622 | €69,395 | +€10,774 | +18.4% |
| Other operating charges | 640/8 | €3,108 | €4,324 | +€1,217 | +39.1% |
| Operating profit (loss) | 9901 | -€28,897 | -€21,187 | +€7,711 | +26.7% |
| Financial charges | 65/66B | €469 | €503 | +€34 | +7.3% |
| Recurring financial charges | 65 | €469 | €503 | +€34 | +7.3% |
| Debt charges | 650 | €31 | €0 | -€31 | -100.0% |
| Other financial charges | 652/9 | €438 | €503 | +€65 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,366 | -€21,690 | +€7,676 | +26.1% |
| Profit (loss) for the period | 9904 | -€29,366 | -€21,690 | +€7,676 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,366 | -€21,690 | +€7,676 | +26.1% |
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 8 October 2026 via checked.be.