Sara Bekaert: 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.
Sara Bekaert
Largest movements
- Tangible fixed assets -€31,662
down €31,662 (-15.5%), from €204,617 to €172,955
of which Furniture and vehicles: -€21,085
- Cash +€6,259
up €6,259 (+27.8%), from €22,516 to €28,775
mainly Net result for the year (+€67,222) and Depreciation (+€32,251)
- Debts after one year -€30,367
down €30,367 (-19.4%), from €156,342 to €125,976
- Trade debts +€13,657
up €13,657 (+137%), from €9,940 to €23,597
- Reserves -€10,758
down €10,758 (-4.5%), from €237,765 to €227,006
- Tax, wage and social debts -€5,966
down €5,966 (-23.6%), from €25,307 to €19,341
- Depreciation +€12,776
up €12,776 (+65.6%), from €19,475 to €32,251
- Gross operating margin +€5,665
up €5,665 (+4.2%), from €133,685 to €139,350
- Other operating charges -€1,735
down €1,735 (-26.7%), from €6,497 to €4,762
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 | €471,139 | €443,500 | -€27,639 | -5.9% |
| Fixed assets | 21/28 | €204,617 | €176,640 | -€27,976 | -13.7% |
| Intangible fixed assets | 21 | - | €3,686 | +€3,686 | |
| Tangible fixed assets | 22/27 | €204,617 | €172,955 | -€31,662 | -15.5% |
| Land and buildings | 22 | €109,595 | €99,018 | -€10,576 | -9.7% |
| Furniture and vehicles | 24 | €95,022 | €73,937 | -€21,085 | -22.2% |
| Current assets | 29/58 | €266,523 | €266,860 | +€337 | +0.1% |
| Amounts receivable within one year | 40/41 | €241,241 | €237,645 | -€3,596 | -1.5% |
| Trade receivables | 40 | €18,704 | €45,453 | +€26,749 | +143% |
| Other amounts receivable | 41 | €222,537 | €192,192 | -€30,345 | -13.6% |
| Cash at bank and in hand | 54/58 | €22,516 | €28,775 | +€6,259 | +27.8% |
| Deferred charges and accrued income | 490/1 | €2,766 | €440 | -€2,326 | -84.1% |
| Total equity and liabilities | 10/49 | €471,139 | €443,500 | -€27,639 | -5.9% |
| Equity | 10/15 | €250,165 | €239,406 | -€10,758 | -4.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €237,765 | €227,006 | -€10,758 | -4.5% |
| Distributable reserves | 133 | €237,765 | €227,006 | -€10,758 | -4.5% |
| Amounts payable | 17/49 | €220,975 | €204,094 | -€16,881 | -7.6% |
| Amounts payable after more than one year | 17 | €156,342 | €125,976 | -€30,367 | -19.4% |
| Financial debts | 170/4 | €156,342 | €125,976 | -€30,367 | -19.4% |
| Amounts payable within one year | 42/48 | €64,632 | €76,509 | +€11,877 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €29,385 | €30,367 | +€982 | +3.3% |
| Trade debts | 44 | €9,940 | €23,597 | +€13,657 | +137% |
| Suppliers | 440/4 | €9,940 | €23,597 | +€13,657 | +137% |
| Advances received on contracts in progress | 46 | €0 | €3,204 | +€3,204 | +4,004,900% |
| Taxes, remuneration and social security | 45 | €25,307 | €19,341 | -€5,966 | -23.6% |
| Taxes | 450/3 | €25,307 | €19,341 | -€5,966 | -23.6% |
| Accrued charges and deferred income | 492/3 | - | €1,610 | +€1,610 | |
| Non-recurring operating income | 76A | €9,373 | - | -€9,373 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,475 | €32,251 | +€12,776 | +65.6% |
| Other operating charges | 640/8 | €6,497 | €4,762 | -€1,735 | -26.7% |
| Gross operating margin | 9900 | €133,685 | €139,350 | +€5,665 | +4.2% |
| Operating profit (loss) | 9901 | €107,713 | €102,337 | -€5,376 | -5.0% |
| Financial income | 75/76B | €501 | €159 | -€342 | -68.3% |
| Recurring financial income | 75 | €501 | €159 | -€342 | -68.3% |
| Financial charges | 65/66B | €5,798 | €6,381 | +€583 | +10.1% |
| Recurring financial charges | 65 | €5,798 | €6,381 | +€583 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €102,416 | €96,114 | -€6,301 | -6.2% |
| Income taxes | 67/77 | €29,489 | €28,893 | -€596 | -2.0% |
| Profit (loss) for the period | 9904 | €72,927 | €67,222 | -€5,705 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,927 | €67,222 | -€5,705 | -7.8% |
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 20 October 2026 via checked.be.