SARA MINNER: 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 MINNER
Largest movements
- Receivables within one year +€5,401
up €5,401 (+204%), from €2,648 to €8,049
of which Trade receivables: +€7,714
- Tangible fixed assets -€4,314
down €4,314 (-100%), from €4,314 to €0
- Cash +€2,672
up €2,672 (+215%), from €1,245 to €3,917
mainly Investment in fixed assets (net) (+€4,314) and Current portion of long-term debt (+€2,998)
- Intangible fixed assets -€1,360
down €1,360 (-38.7%), from €3,518 to €2,158
- Deferred charges and accrued income -€368
down €368 (-61.9%), from €594 to €227
- Debts after one year -€2,998
down €2,998 (-32.5%), from €9,234 to €6,236
- Current portion of long-term debt +€2,998
up €2,998 (+52.0%), from €5,766 to €8,764
- Other debts +€2,505
up €2,505 (+17.4%), from €14,360 to €16,865
- Trade debts -€486
down €486 (-77.9%), from €624 to €138
- Gross operating margin +€22,816
up €22,816, from -€20,765 to €2,051
- Depreciation -€1,258
down €1,258 (-48.1%), from €2,618 to €1,360
- Other operating charges -€814
down €814 (-63.3%), from €1,286 to €472
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 | €12,320 | €14,351 | +€2,031 | +16.5% |
| Fixed assets | 21/28 | €7,832 | €2,158 | -€5,674 | -72.4% |
| Intangible fixed assets | 21 | €3,518 | €2,158 | -€1,360 | -38.7% |
| Tangible fixed assets | 22/27 | €4,314 | €0 | -€4,314 | -100% |
| Plant, machinery and equipment | 23 | €4,314 | €0 | -€4,314 | -100% |
| Current assets | 29/58 | €4,487 | €12,193 | +€7,705 | +172% |
| Amounts receivable within one year | 40/41 | €2,648 | €8,049 | +€5,401 | +204% |
| Trade receivables | 40 | - | €7,714 | +€7,714 | |
| Other amounts receivable | 41 | €2,648 | €336 | -€2,313 | -87.3% |
| Cash at bank and in hand | 54/58 | €1,245 | €3,917 | +€2,672 | +215% |
| Deferred charges and accrued income | 490/1 | €594 | €227 | -€368 | -61.9% |
| Total equity and liabilities | 10/49 | €12,320 | €14,351 | +€2,031 | +16.5% |
| Equity | 10/15 | -€17,664 | -€17,652 | +€12 | +0.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€20,164 | -€20,152 | +€12 | +0.1% |
| Amounts payable | 17/49 | €29,984 | €32,003 | +€2,019 | +6.7% |
| Amounts payable after more than one year | 17 | €9,234 | €6,236 | -€2,998 | -32.5% |
| Financial debts | 170/4 | €9,234 | €6,236 | -€2,998 | -32.5% |
| Amounts payable within one year | 42/48 | €20,750 | €25,766 | +€5,017 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €5,766 | €8,764 | +€2,998 | +52.0% |
| Trade debts | 44 | €624 | €138 | -€486 | -77.9% |
| Suppliers | 440/4 | €624 | €138 | -€486 | -77.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,360 | €16,865 | +€2,505 | +17.4% |
| Non-recurring operating income | 76A | - | €1,891 | +€1,891 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,618 | €1,360 | -€1,258 | -48.1% |
| Other operating charges | 640/8 | €1,286 | €472 | -€814 | -63.3% |
| Gross operating margin | 9900 | -€20,765 | €2,051 | +€22,816 | |
| Operating profit (loss) | 9901 | -€24,669 | €220 | +€24,888 | |
| Financial income | 75/76B | €92 | €0 | -€92 | -100.0% |
| Recurring financial income | 75 | €92 | €0 | -€92 | -100.0% |
| Financial charges | 65/66B | €415 | €208 | -€207 | -49.9% |
| Recurring financial charges | 65 | €415 | €208 | -€207 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | -€24,991 | €12 | +€25,003 | |
| Profit (loss) for the period | 9904 | -€24,991 | €12 | +€25,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,991 | €12 | +€25,003 |
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 19 October 2026 via checked.be.