SARA SCHEVENELS: 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 SCHEVENELS
Largest movements
- Cash -€277,489
down €277,489 (-84.4%), from €328,782 to €51,293
mainly Contributions, distributions and other (-€202,000) and Other debts (-€120,484)
- Deferred charges and accrued income +€21,315
up €21,315 (+42,108%), from €51 to €21,366
- Tangible fixed assets -€12,587
down €12,587 (-18.3%), from €68,780 to €56,193
of which Other tangible fixed assets: -€7,007
- Receivables within one year +€8,227
up €8,227 (+38.9%), from €21,133 to €29,359
of which Other amounts receivable: +€8,633
- Other debts -€120,484
down €120,484 (-47.1%), from €255,793 to €135,309
- Reserves -€67,134
down €67,134 (-99.1%), from €67,727 to €593
- Profit (loss) carried forward -€64,963
no longer reported in 2025 (was €64,963)
- Tax, wage and social debts -€11,663
no longer reported in 2025 (was €11,663)
- Gross operating margin -€32,917
down €32,917 (-24.5%), from €134,427 to €101,510
- Taxes -€7,407
down €7,407 (-29.3%), from €25,274 to €17,867
- Depreciation +€2,164
up €2,164 (+20.8%), from €10,423 to €12,587
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 | €418,745 | €158,211 | -€260,534 | -62.2% |
| Fixed assets | 21/28 | €68,780 | €56,193 | -€12,587 | -18.3% |
| Tangible fixed assets | 22/27 | €68,780 | €56,193 | -€12,587 | -18.3% |
| Furniture and vehicles | 24 | €17,003 | €11,422 | -€5,581 | -32.8% |
| Other tangible fixed assets | 26 | €51,777 | €44,771 | -€7,007 | -13.5% |
| Current assets | 29/58 | €349,965 | €102,018 | -€247,947 | -70.8% |
| Amounts receivable within one year | 40/41 | €21,133 | €29,359 | +€8,227 | +38.9% |
| Trade receivables | 40 | €406 | - | -€406 | |
| Other amounts receivable | 41 | €20,726 | €29,359 | +€8,633 | +41.7% |
| Cash at bank and in hand | 54/58 | €328,782 | €51,293 | -€277,489 | -84.4% |
| Deferred charges and accrued income | 490/1 | €51 | €21,366 | +€21,315 | +42,108% |
| Total equity and liabilities | 10/49 | €418,745 | €158,211 | -€260,534 | -62.2% |
| Equity | 10/15 | €151,290 | €19,193 | -€132,097 | -87.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,727 | €593 | -€67,134 | -99.1% |
| Distributable reserves | 133 | €67,727 | €593 | -€67,134 | -99.1% |
| Profit (loss) carried forward | 14 | €64,963 | - | -€64,963 | |
| Amounts payable | 17/49 | €267,456 | €139,018 | -€128,438 | -48.0% |
| Amounts payable within one year | 42/48 | €267,456 | €136,018 | -€131,438 | -49.1% |
| Trade debts | 44 | €0 | €709 | +€709 | |
| Suppliers | 440/4 | €0 | €709 | +€709 | |
| Taxes, remuneration and social security | 45 | €11,663 | - | -€11,663 | |
| Taxes | 450/3 | €11,663 | - | -€11,663 | |
| Other amounts payable | 47/48 | €255,793 | €135,309 | -€120,484 | -47.1% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,423 | €12,587 | +€2,164 | +20.8% |
| Other operating charges | 640/8 | €311 | €1,099 | +€788 | +253% |
| Non-recurring operating charges | 66A | €3,129 | - | -€3,129 | |
| Gross operating margin | 9900 | €134,427 | €101,510 | -€32,917 | -24.5% |
| Operating profit (loss) | 9901 | €120,564 | €87,824 | -€32,740 | -27.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53 | €54 | +€2 | +2.9% |
| Recurring financial charges | 65 | €53 | €54 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €120,511 | €87,770 | -€32,741 | -27.2% |
| Income taxes | 67/77 | €25,274 | €17,867 | -€7,407 | -29.3% |
| Profit (loss) for the period | 9904 | €95,237 | €69,903 | -€25,334 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €95,237 | €69,903 | -€25,334 | -26.6% |
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 28 October 2026 via checked.be.