SARCUS: 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.
SARCUS
Largest movements
- Financial fixed assets -€84,750
down €84,750 (-100%), from €84,750 to €0
- Receivables within one year -€12,188
down €12,188 (-17.5%), from €69,711 to €57,523
of which Trade receivables: -€19,589
- Cash +€9,588
up €9,588 (+4.8%), from €197,716 to €207,304
mainly Net result for the year (+€92,657) and Investment in fixed assets (net) (+€48,259)
- Reserves -€53,868
down €53,868 (-11.1%), from €485,324 to €431,456
- Tax, wage and social debts -€15,930
down €15,930 (-30.4%), from €52,436 to €36,506
of which Taxes: -€15,930
- Other debts -€12,383
down €12,383 (-83.9%), from €14,756 to €2,373
- Gross operating margin -€89,113
down €89,113 (-40.0%), from €222,738 to €133,624
- Taxes -€31,389
down €31,389 (-49.6%), from €63,341 to €31,952
- Financial income +€22,495
up €22,495 (+474%), from €4,742 to €27,237
- Depreciation +€19,533
up €19,533 (+144%), from €13,592 to €33,125
- Financial charges -€3,192
down €3,192 (-79.4%), from €4,019 to €828
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 | €563,920 | €480,414 | -€83,506 | -14.8% |
| Fixed assets | 21/28 | €232,601 | €151,218 | -€81,384 | -35.0% |
| Tangible fixed assets | 22/27 | €147,851 | €151,218 | +€3,366 | +2.3% |
| Plant, machinery and equipment | 23 | €1,206 | €770 | -€436 | -36.2% |
| Furniture and vehicles | 24 | €145,643 | €134,606 | -€11,037 | -7.6% |
| Other tangible fixed assets | 26 | €1,002 | €15,841 | +€14,839 | +1,480% |
| Financial fixed assets | 28 | €84,750 | €0 | -€84,750 | -100% |
| Current assets | 29/58 | €331,319 | €329,196 | -€2,122 | -0.6% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Trade receivables | 290 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,711 | €57,523 | -€12,188 | -17.5% |
| Trade receivables | 40 | €63,634 | €44,045 | -€19,589 | -30.8% |
| Other amounts receivable | 41 | €6,077 | €13,478 | +€7,401 | +122% |
| Current investments | 50/53 | €11,317 | €11,797 | +€480 | +4.2% |
| Cash at bank and in hand | 54/58 | €197,716 | €207,304 | +€9,588 | +4.8% |
| Deferred charges and accrued income | 490/1 | €2,574 | €2,572 | -€3 | -0.1% |
| Total equity and liabilities | 10/49 | €563,920 | €480,414 | -€83,506 | -14.8% |
| Equity | 10/15 | €491,524 | €437,656 | -€53,868 | -11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €485,324 | €431,456 | -€53,868 | -11.1% |
| Distributable reserves | 133 | €485,324 | €431,456 | -€53,868 | -11.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €72,396 | €42,757 | -€29,639 | -40.9% |
| Amounts payable within one year | 42/48 | €72,396 | €42,757 | -€29,639 | -40.9% |
| Financial debts | 43 | €1,070 | €29 | -€1,041 | -97.3% |
| Credit institutions | 430/8 | €1,070 | €29 | -€1,041 | -97.3% |
| Trade debts | 44 | €4,134 | €3,850 | -€285 | -6.9% |
| Suppliers | 440/4 | €4,134 | €3,850 | -€285 | -6.9% |
| Taxes, remuneration and social security | 45 | €52,436 | €36,506 | -€15,930 | -30.4% |
| Taxes | 450/3 | €52,436 | €36,506 | -€15,930 | -30.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,756 | €2,373 | -€12,383 | -83.9% |
| Non-recurring operating income | 76A | €8,057 | €0 | -€8,057 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,592 | €33,125 | +€19,533 | +144% |
| Other operating charges | 640/8 | €2,110 | €2,300 | +€190 | +9.0% |
| Non-recurring operating charges | 66A | €723 | €0 | -€723 | -100% |
| Gross operating margin | 9900 | €222,738 | €133,624 | -€89,113 | -40.0% |
| Operating profit (loss) | 9901 | €206,312 | €98,199 | -€108,113 | -52.4% |
| Financial income | 75/76B | €4,742 | €27,237 | +€22,495 | +474% |
| Recurring financial income | 75 | €4,742 | €27,237 | +€22,495 | +474% |
| Financial charges | 65/66B | €4,019 | €828 | -€3,192 | -79.4% |
| Recurring financial charges | 65 | €4,019 | €828 | -€3,192 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €207,034 | €124,609 | -€82,426 | -39.8% |
| Income taxes | 67/77 | €63,341 | €31,952 | -€31,389 | -49.6% |
| Profit (loss) for the period | 9904 | €143,693 | €92,657 | -€51,037 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €143,693 | €92,657 | -€51,037 | -35.5% |
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 23 October 2026 via checked.be.