SARDEB: 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.
SARDEB
Largest movements
- Cash +€319,452
up €319,452 (+26781.5%), from €1,193 to €320,645
mainly Net result for the year (+€345,734) and Investment in fixed assets (net) (+€194,231)
- Tangible fixed assets -€194,231
no longer reported in 2025 (was €194,231)
of which Land and buildings: -€114,477
- Receivables within one year +€13,158
new in 2025: €13,158
- Profit (loss) carried forward +€345,734
up €345,734, from -€161,270 to €184,464
- Other debts -€276,559
down €276,559 (-91.5%), from €302,305 to €25,747
- Tax, wage and social debts +€68,018
new in 2025: €68,018
- Gross operating margin +€427,189
up €427,189, from -€13,237 to €413,952
- Taxes +€68,018
new in 2025: €68,018
- Depreciation -€20,177
no longer reported in 2025 (was €20,177)
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 | €195,620 | €333,803 | +€138,183 | +70.6% |
| Fixed assets | 21/28 | €194,231 | - | -€194,231 | |
| Tangible fixed assets | 22/27 | €194,231 | - | -€194,231 | |
| Land and buildings | 22 | €114,477 | - | -€114,477 | |
| Plant, machinery and equipment | 23 | €79,754 | - | -€79,754 | |
| Current assets | 29/58 | €1,389 | €333,803 | +€332,414 | +23926.0% |
| Amounts receivable within one year | 40/41 | - | €13,158 | +€13,158 | |
| Other amounts receivable | 41 | - | €13,158 | +€13,158 | |
| Cash at bank and in hand | 54/58 | €1,193 | €320,645 | +€319,452 | +26781.5% |
| Deferred charges and accrued income | 490/1 | €197 | - | -€197 | |
| Total equity and liabilities | 10/49 | €195,620 | €333,803 | +€138,183 | +70.6% |
| Equity | 10/15 | -€130,283 | €215,450 | +€345,734 | |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,270 | €184,464 | +€345,734 | |
| Amounts payable | 17/49 | €325,903 | €118,352 | -€207,551 | -63.7% |
| Amounts payable within one year | 42/48 | €325,903 | €118,352 | -€207,551 | -63.7% |
| Trade debts | 44 | €23,598 | €24,588 | +€990 | +4.2% |
| Suppliers | 440/4 | €23,598 | €24,588 | +€990 | +4.2% |
| Taxes, remuneration and social security | 45 | - | €68,018 | +€68,018 | |
| Taxes | 450/3 | - | €68,018 | +€68,018 | |
| Other amounts payable | 47/48 | €302,305 | €25,747 | -€276,559 | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,177 | - | -€20,177 | |
| Other operating charges | 640/8 | €1,770 | €150 | -€1,620 | -91.5% |
| Gross operating margin | 9900 | -€13,237 | €413,952 | +€427,189 | |
| Operating profit (loss) | 9901 | -€35,184 | €413,802 | +€448,986 | |
| Financial income | 75/76B | - | €289 | +€289 | |
| Recurring financial income | 75 | - | €289 | +€289 | |
| Financial charges | 65/66B | €314 | €339 | +€25 | +7.8% |
| Recurring financial charges | 65 | €314 | €339 | +€25 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | -€35,499 | €413,751 | +€449,250 | |
| Income taxes | 67/77 | - | €68,018 | +€68,018 | |
| Profit (loss) for the period | 9904 | -€35,499 | €345,734 | +€381,233 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,499 | €345,734 | +€381,233 |
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 7 October 2026 via checked.be.