Sapico: 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.
Sapico
Largest movements
- Tangible fixed assets -€124,213
down €124,213 (-35.4%), from €350,689 to €226,476
of which Land and buildings: -€121,325
- Cash +€72,743
up €72,743 (+1,070%), from €6,797 to €79,540
mainly Investment in fixed assets (net) (+€115,348) and Net result for the year (+€89,992)
- Current investments -€45,000
down €45,000 (-100%), from €45,000 to €0
- Receivables within one year +€23,812
up €23,812 (+47,198%), from €50 to €23,862
- Debts after one year -€164,500
down €164,500 (-86.6%), from €190,000 to €25,500
- Reserves +€89,992
up €89,992 (+77.7%), from €115,842 to €205,834
of which Distributable reserves: +€102,199
- Tax, wage and social debts +€5,873
up €5,873 (+17.8%), from €33,012 to €38,885
of which Remuneration and social security: +€17,388
- Gross operating margin -€195,452
down €195,452 (-55.7%), from €350,940 to €155,488
- Taxes -€11,982
down €11,982 (-21.5%), from €55,639 to €43,656
- Financial charges -€6,886
down €6,886 (-36.3%), from €18,985 to €12,099
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 | €402,537 | €329,878 | -€72,658 | -18.1% |
| Fixed assets | 21/28 | €350,689 | €226,476 | -€124,213 | -35.4% |
| Tangible fixed assets | 22/27 | €350,689 | €226,476 | -€124,213 | -35.4% |
| Land and buildings | 22 | €343,610 | €222,285 | -€121,325 | -35.3% |
| Plant, machinery and equipment | 23 | €6,757 | €4,191 | -€2,566 | -38.0% |
| Furniture and vehicles | 24 | €322 | €0 | -€322 | -100% |
| Current assets | 29/58 | €51,847 | €103,402 | +€51,555 | +99.4% |
| Amounts receivable within one year | 40/41 | €50 | €23,862 | +€23,812 | +47,198% |
| Other amounts receivable | 41 | €50 | €23,862 | +€23,812 | +47,198% |
| Current investments | 50/53 | €45,000 | €0 | -€45,000 | -100% |
| Cash at bank and in hand | 54/58 | €6,797 | €79,540 | +€72,743 | +1,070% |
| Total equity and liabilities | 10/49 | €402,537 | €329,878 | -€72,658 | -18.1% |
| Equity | 10/15 | €129,442 | €219,434 | +€89,992 | +69.5% |
| Contributions | 10/11 | €13,600 | €13,600 | = | 0.0% |
| Reserves | 13 | €115,842 | €205,834 | +€89,992 | +77.7% |
| Non-distributable reserves | 130/1 | €12,207 | - | -€12,207 | |
| Reserves not available under the articles | 1311 | €12,207 | - | -€12,207 | |
| Distributable reserves | 133 | €103,635 | €205,834 | +€102,199 | +98.6% |
| Amounts payable | 17/49 | €273,095 | €110,444 | -€162,650 | -59.6% |
| Amounts payable after more than one year | 17 | €190,000 | €25,500 | -€164,500 | -86.6% |
| Other amounts payable | 178/9 | €190,000 | €25,500 | -€164,500 | -86.6% |
| Amounts payable within one year | 42/48 | €69,733 | €73,117 | +€3,384 | +4.9% |
| Trade debts | 44 | €36,721 | €34,232 | -€2,489 | -6.8% |
| Suppliers | 440/4 | €36,721 | €34,232 | -€2,489 | -6.8% |
| Taxes, remuneration and social security | 45 | €33,012 | €38,885 | +€5,873 | +17.8% |
| Taxes | 450/3 | €20,989 | €9,474 | -€11,515 | -54.9% |
| Remuneration and social security | 454/9 | €12,023 | €29,411 | +€17,388 | +145% |
| Accrued charges and deferred income | 492/3 | €13,362 | €11,827 | -€1,535 | -11.5% |
| Non-recurring operating income | 76A | €389,258 | €151,952 | -€237,306 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,893 | €8,865 | -€3,028 | -25.5% |
| Other operating charges | 640/8 | €5,868 | €2,690 | -€3,178 | -54.2% |
| Gross operating margin | 9900 | €350,940 | €155,488 | -€195,452 | -55.7% |
| Operating profit (loss) | 9901 | €333,178 | €143,932 | -€189,246 | -56.8% |
| Financial income | 75/76B | €1 | €1,815 | +€1,814 | +169,524% |
| Recurring financial income | 75 | €1 | €1,815 | +€1,814 | +169,524% |
| Financial charges | 65/66B | €18,985 | €12,099 | -€6,886 | -36.3% |
| Recurring financial charges | 65 | €18,985 | €12,099 | -€6,886 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €314,195 | €133,648 | -€180,546 | -57.5% |
| Income taxes | 67/77 | €55,639 | €43,656 | -€11,982 | -21.5% |
| Profit (loss) for the period | 9904 | €258,556 | €89,992 | -€168,564 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €258,556 | €89,992 | -€168,564 | -65.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.