Sapos: 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.
Sapos
Largest movements
- Current investments +€17,039
up €17,039 (+10.1%), from €169,000 to €186,039
- Reserves +€18,720
up €18,720 (+13.7%), from €136,921 to €155,641
of which Distributable reserves: +€18,720
- Tax, wage and social debts -€5,176
down €5,176 (-57.7%), from €8,973 to €3,797
- Financial income +€3,141
up €3,141 (+128%), from €2,449 to €5,590
- Taxes +€1,614
up €1,614 (+25.8%), from €6,269 to €7,883
- Financial charges +€1,032
up €1,032 (+17.5%), from €5,906 to €6,938
- Gross operating margin +€1,023
up €1,023 (+3.5%), from €28,962 to €29,984
- Other operating charges -€597
down €597 (-39.9%), from €1,498 to €901
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 | €229,261 | €241,792 | +€12,531 | +5.5% |
| Fixed assets | 21/28 | €3,483 | €2,405 | -€1,078 | -30.9% |
| Tangible fixed assets | 22/27 | €3,483 | €2,405 | -€1,078 | -30.9% |
| Plant, machinery and equipment | 23 | €1,880 | €1,431 | -€449 | -23.9% |
| Furniture and vehicles | 24 | €1,603 | €975 | -€628 | -39.2% |
| Current assets | 29/58 | €225,778 | €239,387 | +€13,609 | +6.0% |
| Amounts receivable within one year | 40/41 | €42,685 | €41,026 | -€1,659 | -3.9% |
| Trade receivables | 40 | €3,520 | €6,144 | +€2,624 | +74.5% |
| Other amounts receivable | 41 | €39,164 | €34,881 | -€4,283 | -10.9% |
| Current investments | 50/53 | €169,000 | €186,039 | +€17,039 | +10.1% |
| Cash at bank and in hand | 54/58 | €12,582 | €10,923 | -€1,659 | -13.2% |
| Deferred charges and accrued income | 490/1 | €1,511 | €1,399 | -€112 | -7.4% |
| Total equity and liabilities | 10/49 | €229,261 | €241,792 | +€12,531 | +5.5% |
| Equity | 10/15 | €149,321 | €168,041 | +€18,720 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €136,921 | €155,641 | +€18,720 | +13.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €136,921 | €155,641 | +€18,720 | +13.7% |
| Amounts payable | 17/49 | €79,940 | €73,751 | -€6,189 | -7.7% |
| Amounts payable within one year | 42/48 | €76,711 | €70,576 | -€6,135 | -8.0% |
| Trade debts | 44 | €5,738 | €4,779 | -€959 | -16.7% |
| Suppliers | 440/4 | €5,738 | €4,779 | -€959 | -16.7% |
| Taxes, remuneration and social security | 45 | €8,973 | €3,797 | -€5,176 | -57.7% |
| Taxes | 450/3 | €8,973 | €3,797 | -€5,176 | -57.7% |
| Other amounts payable | 47/48 | €62,000 | €62,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,229 | €3,175 | -€54 | -1.7% |
| Remuneration, social security and pensions | 62 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €994 | €1,078 | +€83 | +8.4% |
| Other operating charges | 640/8 | €1,498 | €901 | -€597 | -39.9% |
| Gross operating margin | 9900 | €28,962 | €29,984 | +€1,023 | +3.5% |
| Operating profit (loss) | 9901 | €26,470 | €27,951 | +€1,481 | +5.6% |
| Financial income | 75/76B | €2,449 | €5,590 | +€3,141 | +128% |
| Recurring financial income | 75 | €2,449 | €5,590 | +€3,141 | +128% |
| Financial charges | 65/66B | €5,906 | €6,938 | +€1,032 | +17.5% |
| Recurring financial charges | 65 | €5,906 | €6,938 | +€1,032 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €23,013 | €26,603 | +€3,590 | +15.6% |
| Income taxes | 67/77 | €6,269 | €7,883 | +€1,614 | +25.8% |
| Profit (loss) for the period | 9904 | €16,744 | €18,720 | +€1,976 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,744 | €18,720 | +€1,976 | +11.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.