SAPPHO: what changed
Two fiscal 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.
SAPPHO
Largest movements
- Cash -€114,185
down €114,185 (-70.3%), from €162,512 to €48,327
mainly Investment in fixed assets (net) (-€83,460) and Net result for the year (-€51,446)
- Tangible fixed assets +€49,572
up €49,572 (+15.1%), from €328,605 to €378,177
of which Land and buildings: +€67,245
- Profit (loss) carried forward -€51,446
down €51,446 (-13.8%), from €372,775 to €321,329
- Current portion of long-term debt -€6,659
no longer reported in 2025 (was €6,659)
- Financial charges -€33,696
down €33,696 (-96.6%), from €34,883 to €1,187
of which Non-recurring financial charges: -€32,922
- Depreciation -€11,656
down €11,656 (-25.6%), from €45,545 to €33,888
- Financial income -€10,439
down €10,439 (-81.7%), from €12,783 to €2,345
of which Non-recurring financial income: -€10,001
- Gross operating margin -€8,108
down €8,108 (-97.2%), from -€8,340 to -€16,448
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 | €588,015 | €525,354 | -€62,661 | -10.7% |
| Fixed assets | 21/28 | €328,605 | €378,177 | +€49,572 | +15.1% |
| Tangible fixed assets | 22/27 | €328,605 | €378,177 | +€49,572 | +15.1% |
| Land and buildings | 22 | €271,089 | €338,335 | +€67,245 | +24.8% |
| Plant, machinery and equipment | 23 | €3,825 | €2,045 | -€1,780 | -46.5% |
| Furniture and vehicles | 24 | €53,691 | €37,797 | -€15,894 | -29.6% |
| Current assets | 29/58 | €259,410 | €147,177 | -€112,233 | -43.3% |
| Current investments | 50/53 | €94,985 | €96,844 | +€1,858 | +2.0% |
| Cash at bank and in hand | 54/58 | €162,512 | €48,327 | -€114,185 | -70.3% |
| Deferred charges and accrued income | 490/1 | €1,912 | €2,006 | +€94 | +4.9% |
| Total equity and liabilities | 10/49 | €588,015 | €525,354 | -€62,661 | -10.7% |
| Equity | 10/15 | €491,395 | €439,950 | -€51,446 | -10.5% |
| Contributions | 10/11 | €86,405 | €86,405 | = | 0.0% |
| Reserves | 13 | €32,216 | €32,216 | = | 0.0% |
| Distributable reserves | 133 | €32,216 | €32,216 | = | 0.0% |
| Profit (loss) carried forward | 14 | €372,775 | €321,329 | -€51,446 | -13.8% |
| Amounts payable | 17/49 | €96,619 | €85,404 | -€11,215 | -11.6% |
| Amounts payable within one year | 42/48 | €96,619 | €85,404 | -€11,215 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €6,659 | - | -€6,659 | |
| Trade debts | 44 | €287 | €298 | +€11 | +3.9% |
| Suppliers | 440/4 | €287 | €298 | +€11 | +3.9% |
| Taxes, remuneration and social security | 45 | €20 | €256 | +€236 | +1178.0% |
| Taxes | 450/3 | €20 | €256 | +€236 | +1178.0% |
| Other amounts payable | 47/48 | €89,653 | €84,849 | -€4,804 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,545 | €33,888 | -€11,656 | -25.6% |
| Other operating charges | 640/8 | €2,012 | €2,010 | -€2 | -0.1% |
| Gross operating margin | 9900 | -€8,340 | -€16,448 | -€8,108 | -97.2% |
| Operating profit (loss) | 9901 | -€55,897 | -€52,347 | +€3,550 | +6.4% |
| Financial income | 75/76B | €12,783 | €2,345 | -€10,439 | -81.7% |
| Recurring financial income | 75 | €775 | €337 | -€438 | -56.5% |
| Non-recurring financial income | 76B | €12,008 | €2,007 | -€10,001 | -83.3% |
| Financial charges | 65/66B | €34,883 | €1,187 | -€33,696 | -96.6% |
| Recurring financial charges | 65 | €1,812 | €1,038 | -€775 | -42.7% |
| Non-recurring financial charges | 66B | €33,071 | €149 | -€32,922 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | -€77,997 | -€51,189 | +€26,808 | +34.4% |
| Income taxes | 67/77 | €253 | €257 | +€4 | +1.6% |
| Profit (loss) for the period | 9904 | -€78,250 | -€51,446 | +€26,804 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,250 | -€51,446 | +€26,804 | +34.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.