SAPNET: 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.
SAPNET
Largest movements
- Cash -€71,363
down €71,363 (-56.2%), from €127,046 to €55,682
mainly Debts after one year (-€36,875) and Receivables within one year (-€30,885)
- Receivables within one year +€30,885
up €30,885 (+116.4%), from €26,528 to €57,413
of which Trade receivables: +€25,622
- Tangible fixed assets -€26,568
down €26,568 (-2.1%), from €1.3m to €1.2m
of which Land and buildings: -€39,770
- Debts after one year -€36,875
down €36,875 (-11.8%), from €311,308 to €274,433
- Gross operating margin +€8,525
up €8,525 (+15.8%), from €53,997 to €62,521
- Other operating charges +€8,451
up €8,451 (+316.9%), from €2,667 to €11,118
- Taxes -€3,724
down €3,724 (-93.4%), from €3,988 to €264
- Depreciation +€1,443
up €1,443 (+3.1%), from €47,190 to €48,633
- Financial charges -€1,058
down €1,058 (-7.1%), from €14,851 to €13,793
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 | €1,414,567 | €1,356,931 | -€57,636 | -4.1% |
| Fixed assets | 21/28 | €1,260,671 | €1,234,103 | -€26,568 | -2.1% |
| Tangible fixed assets | 22/27 | €1,259,021 | €1,232,453 | -€26,568 | -2.1% |
| Land and buildings | 22 | €1,241,191 | €1,201,420 | -€39,770 | -3.2% |
| Plant, machinery and equipment | 23 | €10,194 | €9,692 | -€503 | -4.9% |
| Furniture and vehicles | 24 | €7,637 | €21,341 | +€13,705 | +179.5% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €153,895 | €122,828 | -€31,068 | -20.2% |
| Amounts receivable within one year | 40/41 | €26,528 | €57,413 | +€30,885 | +116.4% |
| Trade receivables | 40 | €15,200 | €40,822 | +€25,622 | +168.6% |
| Other amounts receivable | 41 | €11,328 | €16,591 | +€5,263 | +46.5% |
| Cash at bank and in hand | 54/58 | €127,046 | €55,682 | -€71,363 | -56.2% |
| Deferred charges and accrued income | 490/1 | €322 | €9,732 | +€9,410 | +2925.5% |
| Total equity and liabilities | 10/49 | €1,414,567 | €1,356,931 | -€57,636 | -4.1% |
| Equity | 10/15 | €1,023,103 | €1,011,853 | -€11,250 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €480,641 | €480,641 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €478,781 | €478,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | €523,862 | €512,611 | -€11,250 | -2.1% |
| Amounts payable | 17/49 | €391,464 | €345,078 | -€46,386 | -11.8% |
| Amounts payable after more than one year | 17 | €311,308 | €274,433 | -€36,875 | -11.8% |
| Financial debts | 170/4 | €311,308 | €274,433 | -€36,875 | -11.8% |
| Amounts payable within one year | 42/48 | €80,156 | €68,896 | -€11,260 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €35,016 | €36,867 | +€1,851 | +5.3% |
| Trade debts | 44 | €9,369 | €8,593 | -€776 | -8.3% |
| Suppliers | 440/4 | €9,369 | €8,593 | -€776 | -8.3% |
| Taxes, remuneration and social security | 45 | €5,432 | €1,214 | -€4,218 | -77.7% |
| Taxes | 450/3 | €5,432 | €1,214 | -€4,218 | -77.7% |
| Other amounts payable | 47/48 | €30,340 | €22,221 | -€8,118 | -26.8% |
| Accrued charges and deferred income | 492/3 | - | €1,750 | +€1,750 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,190 | €48,633 | +€1,443 | +3.1% |
| Other operating charges | 640/8 | €2,667 | €11,118 | +€8,451 | +316.9% |
| Non-recurring operating charges | 66A | €27 | €0 | -€27 | -100.0% |
| Gross operating margin | 9900 | €53,997 | €62,521 | +€8,525 | +15.8% |
| Operating profit (loss) | 9901 | €4,113 | €2,771 | -€1,342 | -32.6% |
| Financial income | 75/76B | €1 | €36 | +€35 | +2547.1% |
| Recurring financial income | 75 | €1 | €36 | +€35 | +2547.1% |
| Financial charges | 65/66B | €14,851 | €13,793 | -€1,058 | -7.1% |
| Recurring financial charges | 65 | €14,851 | €13,793 | -€1,058 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,737 | -€10,986 | -€250 | -2.3% |
| Income taxes | 67/77 | €3,988 | €264 | -€3,724 | -93.4% |
| Profit (loss) for the period | 9904 | -€14,725 | -€11,250 | +€3,475 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,725 | -€11,250 | +€3,475 | +23.6% |
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 9 October 2026 via checked.be.