SARBEL: 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.
SARBEL
Largest movements
- Cash +€13,752
up €13,752 (+261.9%), from €5,251 to €19,002
mainly Other debts (+€16,100) and Trade debts (+€6,525)
- Receivables within one year -€3,255
down €3,255 (-90.9%), from €3,581 to €326
- Tangible fixed assets -€328
no longer reported in 2025 (was €328)
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Other debts +€16,100
up €16,100 (+51.1%), from €31,500 to €47,600
- Trade debts +€6,525
up €6,525 (+830.5%), from €786 to €7,311
- Profit (loss) carried forward +€6,144
up €6,144 (+14.7%), from -€41,726 to -€35,582
- Gross operating margin +€10,382
up €10,382, from -€3,779 to €6,602
- Depreciation -€168
down €168 (-33.9%), from €497 to €328
- Other operating charges -€85
no longer reported in 2025 (was €85)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,160 | €19,329 | +€10,169 | +111.0% |
| Fixed assets | 21/28 | €328 | - | -€328 | |
| Tangible fixed assets | 22/27 | €328 | - | -€328 | |
| Other tangible fixed assets | 26 | €328 | - | -€328 | |
| Current assets | 29/58 | €8,832 | €19,329 | +€10,497 | +118.9% |
| Amounts receivable within one year | 40/41 | €3,581 | €326 | -€3,255 | -90.9% |
| Other amounts receivable | 41 | €3,581 | €326 | -€3,255 | -90.9% |
| Cash at bank and in hand | 54/58 | €5,251 | €19,002 | +€13,752 | +261.9% |
| Total equity and liabilities | 10/49 | €9,160 | €19,329 | +€10,169 | +111.0% |
| Equity | 10/15 | -€23,126 | -€35,582 | -€12,456 | -53.9% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | -€41,726 | -€35,582 | +€6,144 | +14.7% |
| Amounts payable | 17/49 | €32,286 | €54,911 | +€22,625 | +70.1% |
| Amounts payable within one year | 42/48 | €32,286 | €54,911 | +€22,625 | +70.1% |
| Trade debts | 44 | €786 | €7,311 | +€6,525 | +830.5% |
| Suppliers | 440/4 | €786 | €7,311 | +€6,525 | +830.5% |
| Other amounts payable | 47/48 | €31,500 | €47,600 | +€16,100 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €497 | €328 | -€168 | -33.9% |
| Other operating charges | 640/8 | €85 | - | -€85 | |
| Gross operating margin | 9900 | -€3,779 | €6,602 | +€10,382 | |
| Operating profit (loss) | 9901 | -€4,361 | €6,274 | +€10,635 | |
| Financial charges | 65/66B | €182 | €130 | -€52 | -28.4% |
| Recurring financial charges | 65 | €182 | €130 | -€52 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,543 | €6,144 | +€10,687 | |
| Profit (loss) for the period | 9904 | -€4,543 | €6,144 | +€10,687 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,543 | €6,144 | +€10,687 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.