Sara Gies: 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 Gies
Largest movements
- Cash -€9,180
down €9,180 (-7.6%), from €120,873 to €111,693
mainly Tax, wage and social debts (-€16,421) and Stocks and contracts (-€7,429)
- Stocks and contracts +€7,429
up €7,429 (+349%), from €2,127 to €9,555
- Receivables within one year +€2,637
up €2,637 (+53.7%), from €4,907 to €7,544
of which Other amounts receivable: +€2,035
- Tax, wage and social debts -€16,421
down €16,421 (-64.7%), from €25,397 to €8,976
- Reserves +€13,500
up €13,500 (+75.0%), from €18,000 to €31,500
- Accrued charges and deferred income +€4,816
new in 2025: €4,816
- Trade debts -€3,158
down €3,158 (-29.3%), from €10,776 to €7,618
- Profit (loss) carried forward +€2,205
up €2,205 (+3.3%), from €67,715 to €69,920
- Staff costs +€25,901
new in 2025: €25,901
- Taxes -€11,938
down €11,938 (-66.7%), from €17,903 to €5,965
- Gross operating margin -€11,470
down €11,470 (-18.8%), from €60,872 to €49,402
- Other operating charges +€834
up €834 (+198%), from €420 to €1,254
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 | €129,703 | €131,252 | +€1,549 | +1.2% |
| Fixed assets | 21/28 | €1,796 | €2,100 | +€304 | +16.9% |
| Tangible fixed assets | 22/27 | €1,796 | €2,100 | +€304 | +16.9% |
| Plant, machinery and equipment | 23 | €1,796 | €1,435 | -€361 | -20.1% |
| Furniture and vehicles | 24 | - | €665 | +€665 | |
| Current assets | 29/58 | €127,907 | €129,152 | +€1,245 | +1.0% |
| Stocks and contracts in progress | 3 | €2,127 | €9,555 | +€7,429 | +349% |
| Stocks | 30/36 | €2,127 | €9,555 | +€7,429 | +349% |
| Amounts receivable within one year | 40/41 | €4,907 | €7,544 | +€2,637 | +53.7% |
| Trade receivables | 40 | €4,907 | €5,509 | +€602 | +12.3% |
| Other amounts receivable | 41 | - | €2,035 | +€2,035 | |
| Cash at bank and in hand | 54/58 | €120,873 | €111,693 | -€9,180 | -7.6% |
| Deferred charges and accrued income | 490/1 | - | €360 | +€360 | |
| Total equity and liabilities | 10/49 | €129,703 | €131,252 | +€1,549 | +1.2% |
| Equity | 10/15 | €88,715 | €104,420 | +€15,705 | +17.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €31,500 | +€13,500 | +75.0% |
| Distributable reserves | 133 | €18,000 | €31,500 | +€13,500 | +75.0% |
| Profit (loss) carried forward | 14 | €67,715 | €69,920 | +€2,205 | +3.3% |
| Amounts payable | 17/49 | €40,989 | €26,833 | -€14,156 | -34.5% |
| Amounts payable within one year | 42/48 | €40,989 | €22,016 | -€18,972 | -46.3% |
| Trade debts | 44 | €10,776 | €7,618 | -€3,158 | -29.3% |
| Suppliers | 440/4 | €10,776 | €7,618 | -€3,158 | -29.3% |
| Taxes, remuneration and social security | 45 | €25,397 | €8,976 | -€16,421 | -64.7% |
| Taxes | 450/3 | €25,397 | €8,976 | -€16,421 | -64.7% |
| Other amounts payable | 47/48 | €4,816 | €5,423 | +€606 | +12.6% |
| Accrued charges and deferred income | 492/3 | - | €4,816 | +€4,816 | |
| Remuneration, social security and pensions | 62 | - | €25,901 | +€25,901 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318 | €523 | +€205 | +64.4% |
| Other operating charges | 640/8 | €420 | €1,254 | +€834 | +198% |
| Gross operating margin | 9900 | €60,872 | €49,402 | -€11,470 | -18.8% |
| Operating profit (loss) | 9901 | €60,134 | €21,725 | -€38,409 | -63.9% |
| Financial charges | 65/66B | €162 | €55 | -€107 | -66.0% |
| Recurring financial charges | 65 | €162 | €55 | -€107 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | €59,972 | €21,670 | -€38,302 | -63.9% |
| Income taxes | 67/77 | €17,903 | €5,965 | -€11,938 | -66.7% |
| Profit (loss) for the period | 9904 | €42,070 | €15,705 | -€26,364 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,070 | €15,705 | -€26,364 | -62.7% |
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 26 October 2026 via checked.be.