SAR-CO: 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.
What changed
SAR-CO
NACE 93.199, Other sports activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€851,089
2024 · €971,419-€120,329
Equity
€6.6m
2024 · €6.5m+€136,804
Cash
€942,969
2024 · €1.0m-€66,007
Balance sheet total
€9.9m
2024 · €7.9m+€2.0m
Largest movements
Assets
- Tangible fixed assets +€2.3m
up €2.3m (+93.4%), from €2.5m to €4.8m
of which Land and buildings: +€2.1m
- Receivables within one year -€235,228
down €235,228 (-8.5%), from €2.8m to €2.5m
of which Trade receivables: -€516,332
Equity and liabilities
- Debts after one year +€1.5m
up €1.5m (+205.0%), from €727,605 to €2.2m
- Other debts +€179,351
up €179,351 (+115.3%), from €155,498 to €334,849
- Current portion of long-term debt +€139,076
up €139,076 (+39.8%), from €349,773 to €488,849
- Reserves +€136,804
up €136,804 (+2.1%), from €6.5m to €6.6m
of which Distributable reserves: +€143,200
Income statement
- Depreciation +€118,712
up €118,712 (+49.0%), from €242,113 to €360,825
- Taxes -€34,800
down €34,800 (-9.3%), from €372,754 to €337,954
- Other operating charges +€19,345
up €19,345 (+46.7%), from €41,454 to €60,799
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.
Result 2024
€971,419
Gross operating margin
-€8,737
Depreciation
-€118,712
Other operating charges
-€19,345
Other operating items
+€2,102
Financial income
+€3,596
Financial charges
-€14,034
Taxes
+€34,800
Result 2025
€851,089
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.
From operations
+€1.7m
Investment
-€2.7m
Financing
+€916,442
Cash 2024
€1.0m
From operations (derived)
+€1.7m
Net result for the year
+€851,089
Depreciation
+€360,825
Receivables after one year
-€14,973
Receivables within one year
+€235,228
Deferred charges and accrued income
-€12,426
Smaller working-capital items
+€2,520
Trade debts
+€25,707
Tax, wage and social debts
+€69,162
Other debts
+€179,351
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€2.7m
Current investments
-€8,657
Financing
+€916,442
Debts after one year
+€1.5m
Current portion of long-term debt
+€139,076
Contributions, distributions and other
-€714,286
Cash 2025
€942,969
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,904,209 | €9,948,481 | +€2.0m | +25.9% |
| Fixed assets | 21/28 | €2,473,481 | €4,782,933 | +€2.3m | +93.4% |
| Tangible fixed assets | 22/27 | €2,473,346 | €4,782,798 | +€2.3m | +93.4% |
| Land and buildings | 22 | €2,053,319 | €4,164,208 | +€2.1m | +102.8% |
| Plant, machinery and equipment | 23 | €842 | €637 | -€205 | -24.3% |
| Furniture and vehicles | 24 | €278,268 | €539,518 | +€261,250 | +93.9% |
| Leasing and similar rights | 25 | €140,918 | €78,435 | -€62,483 | -44.3% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €5,430,728 | €5,165,549 | -€265,180 | -4.9% |
| Amounts receivable after more than one year | 29 | €487,555 | €502,528 | +€14,973 | +3.1% |
| Trade receivables | 290 | €487,555 | €502,528 | +€14,973 | +3.1% |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,759,002 | €2,523,775 | -€235,228 | -8.5% |
| Trade receivables | 40 | €2,523,187 | €2,006,855 | -€516,332 | -20.5% |
| Other amounts receivable | 41 | €235,815 | €516,920 | +€281,105 | +119.2% |
| Current investments | 50/53 | €1,138,386 | €1,147,043 | +€8,657 | +0.8% |
| Cash at bank and in hand | 54/58 | €1,008,976 | €942,969 | -€66,007 | -6.5% |
| Deferred charges and accrued income | 490/1 | €36,809 | €49,235 | +€12,426 | +33.8% |
| Total equity and liabilities | 10/49 | €7,904,209 | €9,948,481 | +€2.0m | +25.9% |
| Equity | 10/15 | €6,496,616 | €6,633,420 | +€136,804 | +2.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €6,490,116 | €6,626,920 | +€136,804 | +2.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €66,300 | €59,904 | -€6,396 | -9.6% |
| Distributable reserves | 133 | €6,423,816 | €6,567,016 | +€143,200 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €34,139 | €30,846 | -€3,293 | -9.6% |
| Deferred taxes | 168 | €34,139 | €30,846 | -€3,293 | -9.6% |
| Amounts payable | 17/49 | €1,373,453 | €3,284,216 | +€1.9m | +139.1% |
| Amounts payable after more than one year | 17 | €727,605 | €2,219,257 | +€1.5m | +205.0% |
| Financial debts | 170/4 | €727,605 | €2,219,257 | +€1.5m | +205.0% |
| Amounts payable within one year | 42/48 | €645,848 | €1,059,145 | +€413,297 | +64.0% |
| Current portion of amounts payable after more than one year | 42 | €349,773 | €488,849 | +€139,076 | +39.8% |
| Trade debts | 44 | €107,185 | €132,892 | +€25,707 | +24.0% |
| Suppliers | 440/4 | €107,185 | €132,892 | +€25,707 | +24.0% |
| Taxes, remuneration and social security | 45 | €33,392 | €102,555 | +€69,162 | +207.1% |
| Taxes | 450/3 | €15,392 | €84,555 | +€69,162 | +449.3% |
| Remuneration and social security | 454/9 | €18,000 | €18,000 | = | 0.0% |
| Other amounts payable | 47/48 | €155,498 | €334,849 | +€179,351 | +115.3% |
| Accrued charges and deferred income | 492/3 | €0 | €5,814 | +€5,814 | |
| Non-recurring operating income | 76A | €21,004 | €19,000 | -€2,004 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,113 | €360,825 | +€118,712 | +49.0% |
| Other operating charges | 640/8 | €41,454 | €60,799 | +€19,345 | +46.7% |
| Non-recurring operating charges | 66A | €2,117 | €15 | -€2,102 | -99.3% |
| Gross operating margin | 9900 | €1,628,896 | €1,620,159 | -€8,737 | -0.5% |
| Operating profit (loss) | 9901 | €1,343,211 | €1,198,520 | -€144,691 | -10.8% |
| Financial income | 75/76B | €26,004 | €29,600 | +€3,596 | +13.8% |
| Recurring financial income | 75 | €26,004 | €29,600 | +€3,596 | +13.8% |
| Financial charges | 65/66B | €28,336 | €42,370 | +€14,034 | +49.5% |
| Recurring financial charges | 65 | €28,336 | €42,370 | +€14,034 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | €1,340,879 | €1,185,750 | -€155,130 | -11.6% |
| Transfer from deferred taxes | 780 | €3,293 | €3,293 | = | 0.0% |
| Income taxes | 67/77 | €372,754 | €337,954 | -€34,800 | -9.3% |
| Profit (loss) for the period | 9904 | €971,419 | €851,089 | -€120,329 | -12.4% |
| Transfer from tax-exempt reserves | 789 | €6,396 | €6,396 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €977,815 | €857,485 | -€120,329 | -12.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.