sapins.be: 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.
sapins.be
Largest movements
- Stocks and contracts -€43,197
down €43,197 (-49.0%), from €88,222 to €45,025
- Intangible fixed assets +€22,642
up €22,642 (+63.8%), from €35,465 to €58,107
- Receivables within one year -€14,435
down €14,435 (-5.2%), from €275,546 to €261,112
of which Trade receivables: -€12,810
- Other debts -€93,499
down €93,499 (-69.9%), from €133,671 to €40,171
- Debts after one year +€18,036
new in 2025: €18,036
- Profit (loss) carried forward +€14,857
up €14,857 (+38.9%), from €38,184 to €53,042
- Tax, wage and social debts +€13,562
up €13,562 (+76.7%), from €17,678 to €31,240
- Current portion of long-term debt +€9,632
new in 2025: €9,632
- Gross operating margin +€28,429
up €28,429 (+28.4%), from €100,075 to €128,504
- Financial charges -€25,900
down €25,900 (-65.7%), from €39,447 to €13,547
of which Financial charges: -€26,291
- Taxes +€11,459
up €11,459 (+27,813%), from €41 to €11,500
- Staff costs -€2,441
down €2,441 (-5.9%), from €41,717 to €39,276
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 | €401,796 | €367,774 | -€34,022 | -8.5% |
| Fixed assets | 21/28 | €37,926 | €59,865 | +€21,939 | +57.8% |
| Intangible fixed assets | 21 | €35,465 | €58,107 | +€22,642 | +63.8% |
| Tangible fixed assets | 22/27 | €2,461 | €1,758 | -€703 | -28.6% |
| Plant, machinery and equipment | 23 | €2,461 | €1,758 | -€703 | -28.6% |
| Current assets | 29/58 | €363,870 | €307,909 | -€55,961 | -15.4% |
| Stocks and contracts in progress | 3 | €88,222 | €45,025 | -€43,197 | -49.0% |
| Stocks | 30/36 | €88,222 | €45,025 | -€43,197 | -49.0% |
| Amounts receivable within one year | 40/41 | €275,546 | €261,112 | -€14,435 | -5.2% |
| Trade receivables | 40 | €12,810 | - | -€12,810 | |
| Other amounts receivable | 41 | €262,736 | €261,112 | -€1,624 | -0.6% |
| Cash at bank and in hand | 54/58 | €102 | €1,772 | +€1,671 | +1,639% |
| Total equity and liabilities | 10/49 | €401,796 | €367,774 | -€34,022 | -8.5% |
| Equity | 10/15 | €46,544 | €61,402 | +€14,857 | +31.9% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Capital | 10 | €6,500 | €6,500 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,100 | €12,100 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,184 | €53,042 | +€14,857 | +38.9% |
| Amounts payable | 17/49 | €355,252 | €306,373 | -€48,879 | -13.8% |
| Amounts payable after more than one year | 17 | - | €18,036 | +€18,036 | |
| Financial debts | 170/4 | - | €18,036 | +€18,036 | |
| Amounts payable within one year | 42/48 | €355,252 | €288,337 | -€66,915 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,632 | +€9,632 | |
| Financial debts | 43 | €139,174 | €138,822 | -€352 | -0.3% |
| Credit institutions | 430/8 | €139,174 | €138,822 | -€352 | -0.3% |
| Trade debts | 44 | €64,730 | €68,472 | +€3,743 | +5.8% |
| Suppliers | 440/4 | €64,730 | €68,472 | +€3,743 | +5.8% |
| Taxes, remuneration and social security | 45 | €17,678 | €31,240 | +€13,562 | +76.7% |
| Taxes | 450/3 | €17,678 | €31,240 | +€13,562 | +76.7% |
| Other amounts payable | 47/48 | €133,671 | €40,171 | -€93,499 | -69.9% |
| Remuneration, social security and pensions | 62 | €41,717 | €39,276 | -€2,441 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,123 | €13,061 | +€938 | +7.7% |
| Other operating charges | 640/8 | €626 | €1,053 | +€427 | +68.2% |
| Non-recurring operating charges | 66A | €2,672 | €647 | -€2,025 | -75.8% |
| Gross operating margin | 9900 | €100,075 | €128,504 | +€28,429 | +28.4% |
| Operating profit (loss) | 9901 | €42,937 | €74,467 | +€31,529 | +73.4% |
| Financial income | 75/76B | €1,784 | €693 | -€1,091 | -61.2% |
| Recurring financial income | 75 | €1,647 | €693 | -€954 | -57.9% |
| Non-recurring financial income | 76B | €137 | - | -€137 | |
| Financial charges | 65/66B | €39,447 | €13,547 | -€25,900 | -65.7% |
| Recurring financial charges | 65 | €39,447 | €13,156 | -€26,291 | -66.6% |
| Non-recurring financial charges | 66B | - | €391 | +€391 | |
| Profit (loss) for the period before taxes | 9903 | €5,275 | €61,613 | +€56,338 | +1,068% |
| Income taxes | 67/77 | €41 | €11,500 | +€11,459 | +27,813% |
| Profit (loss) for the period | 9904 | €5,233 | €50,113 | +€44,880 | +858% |
| Profit (loss) for the period to be appropriated | 9905 | €5,233 | €50,113 | +€44,880 | +858% |
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 22 October 2026 via checked.be.