SAPIENSE: 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.
SAPIENSE
Largest movements
- Cash +€22,405
up €22,405 (+16.3%), from €137,216 to €159,621
mainly Net result for the year (+€35,055) and Receivables within one year (+€8,971)
- Receivables within one year -€8,971
down €8,971 (-25.5%), from €35,175 to €26,204
of which Trade receivables: -€11,865
- Tangible fixed assets -€7,071
down €7,071 (-31.4%), from €22,539 to €15,468
- Reserves +€25,670
up €25,670 (+18.3%), from €140,037 to €165,707
of which Distributable reserves: +€25,670
- Tax, wage and social debts -€14,171
down €14,171 (-81.6%), from €17,360 to €3,189
- Debts after one year -€5,628
down €5,628 (-39.3%), from €14,322 to €8,694
- Gross operating margin -€26,438
down €26,438 (-30.6%), from €86,525 to €60,087
- Taxes -€9,434
down €9,434 (-33.2%), from €28,390 to €18,956
- Financial income +€907
up €907 (+60.7%), from €1,494 to €2,401
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 | €195,291 | €201,293 | +€6,002 | +3.1% |
| Fixed assets | 21/28 | €22,539 | €15,468 | -€7,071 | -31.4% |
| Tangible fixed assets | 22/27 | €22,539 | €15,468 | -€7,071 | -31.4% |
| Furniture and vehicles | 24 | €22,539 | €15,468 | -€7,071 | -31.4% |
| Current assets | 29/58 | €172,752 | €185,825 | +€13,073 | +7.6% |
| Amounts receivable within one year | 40/41 | €35,175 | €26,204 | -€8,971 | -25.5% |
| Trade receivables | 40 | €12,059 | €194 | -€11,865 | -98.4% |
| Other amounts receivable | 41 | €23,116 | €26,010 | +€2,894 | +12.5% |
| Cash at bank and in hand | 54/58 | €137,216 | €159,621 | +€22,405 | +16.3% |
| Deferred charges and accrued income | 490/1 | €361 | - | -€361 | |
| Total equity and liabilities | 10/49 | €195,291 | €201,293 | +€6,002 | +3.1% |
| Equity | 10/15 | €158,113 | €183,783 | +€25,670 | +16.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €140,037 | €165,707 | +€25,670 | +18.3% |
| Non-distributable reserves | 130/1 | €1,271 | €1,271 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,271 | €1,271 | = | 0.0% |
| Distributable reserves | 133 | €138,766 | €164,436 | +€25,670 | +18.5% |
| Profit (loss) carried forward | 14 | €11,871 | €11,871 | = | 0.0% |
| Amounts payable | 17/49 | €37,178 | €17,510 | -€19,668 | -52.9% |
| Amounts payable after more than one year | 17 | €14,322 | €8,694 | -€5,628 | -39.3% |
| Financial debts | 170/4 | €14,322 | €8,694 | -€5,628 | -39.3% |
| Amounts payable within one year | 42/48 | €22,856 | €8,816 | -€14,040 | -61.4% |
| Current portion of amounts payable after more than one year | 42 | €5,496 | €5,627 | +€131 | +2.4% |
| Taxes, remuneration and social security | 45 | €17,360 | €3,189 | -€14,171 | -81.6% |
| Taxes | 450/3 | €17,360 | €3,189 | -€14,171 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,039 | €7,071 | +€32 | +0.5% |
| Other operating charges | 640/8 | €867 | €892 | +€25 | +2.9% |
| Gross operating margin | 9900 | €86,525 | €60,087 | -€26,438 | -30.6% |
| Operating profit (loss) | 9901 | €78,619 | €52,124 | -€26,495 | -33.7% |
| Financial income | 75/76B | €1,494 | €2,401 | +€907 | +60.7% |
| Recurring financial income | 75 | €1,494 | €2,401 | +€907 | +60.7% |
| Financial charges | 65/66B | €135 | €514 | +€379 | +281% |
| Recurring financial charges | 65 | €135 | €514 | +€379 | +281% |
| Profit (loss) for the period before taxes | 9903 | €79,978 | €54,011 | -€25,967 | -32.5% |
| Income taxes | 67/77 | €28,390 | €18,956 | -€9,434 | -33.2% |
| Profit (loss) for the period | 9904 | €51,588 | €35,055 | -€16,533 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,588 | €35,055 | -€16,533 | -32.0% |
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 18 October 2026 via checked.be.