SARDY: 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.
SARDY
Largest movements
- Tangible fixed assets -€12,673
down €12,673 (-11.4%), from €111,313 to €98,640
of which Plant, machinery and equipment: -€7,433
- Cash -€10,429
down €10,429 (-83.6%), from €12,470 to €2,042
mainly Net result for the year (-€23,057) and Debts after one year (-€13,862)
- Receivables within one year -€3,657
down €3,657 (-95.8%), from €3,818 to €161
of which Other amounts receivable: -€3,118
- Profit (loss) carried forward -€23,057
down €23,057 (-44.9%), from -€51,403 to -€74,460
- Debts after one year -€13,862
down €13,862 (-9.3%), from €148,307 to €134,444
- Other debts +€11,954
up €11,954 (+797%), from €1,500 to €13,454
- Trade debts -€3,759
down €3,759 (-96.2%), from €3,909 to €150
- Current portion of long-term debt +€1,566
up €1,566 (+11.2%), from €13,982 to €15,548
- Financial charges +€490
up €490 (+6.0%), from €8,110 to €8,600
- Other operating charges +€295
up €295 (+43.4%), from €679 to €974
- Gross operating margin +€167
up €167 (+1.2%), from €14,308 to €14,475
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 | €127,601 | €100,842 | -€26,759 | -21.0% |
| Fixed assets | 21/28 | €111,313 | €98,640 | -€12,673 | -11.4% |
| Tangible fixed assets | 22/27 | €111,313 | €98,640 | -€12,673 | -11.4% |
| Land and buildings | 22 | €54,126 | €51,819 | -€2,307 | -4.3% |
| Plant, machinery and equipment | 23 | €51,564 | €44,132 | -€7,433 | -14.4% |
| Furniture and vehicles | 24 | €5,622 | €2,689 | -€2,933 | -52.2% |
| Current assets | 29/58 | €16,288 | €2,202 | -€14,086 | -86.5% |
| Amounts receivable within one year | 40/41 | €3,818 | €161 | -€3,657 | -95.8% |
| Trade receivables | 40 | €540 | €0 | -€540 | -100% |
| Other amounts receivable | 41 | €3,278 | €161 | -€3,118 | -95.1% |
| Cash at bank and in hand | 54/58 | €12,470 | €2,042 | -€10,429 | -83.6% |
| Total equity and liabilities | 10/49 | €127,601 | €100,842 | -€26,759 | -21.0% |
| Equity | 10/15 | -€44,292 | -€67,349 | -€23,057 | -52.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €911 | €911 | = | 0.0% |
| Non-distributable reserves | 130/1 | €911 | €911 | = | 0.0% |
| Reserves not available under the articles | 1311 | €911 | €911 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,403 | -€74,460 | -€23,057 | -44.9% |
| Amounts payable | 17/49 | €171,893 | €168,192 | -€3,702 | -2.2% |
| Amounts payable after more than one year | 17 | €148,307 | €134,444 | -€13,862 | -9.3% |
| Financial debts | 170/4 | €148,307 | €134,444 | -€13,862 | -9.3% |
| Amounts payable within one year | 42/48 | €23,587 | €33,747 | +€10,161 | +43.1% |
| Current portion of amounts payable after more than one year | 42 | €13,982 | €15,548 | +€1,566 | +11.2% |
| Trade debts | 44 | €3,909 | €150 | -€3,759 | -96.2% |
| Suppliers | 440/4 | €3,909 | €150 | -€3,759 | -96.2% |
| Advances received on contracts in progress | 46 | - | €1,380 | +€1,380 | |
| Taxes, remuneration and social security | 45 | €4,196 | €3,216 | -€980 | -23.4% |
| Taxes | 450/3 | €171 | €378 | +€207 | +122% |
| Remuneration and social security | 454/9 | €4,025 | €2,838 | -€1,188 | -29.5% |
| Other amounts payable | 47/48 | €1,500 | €13,454 | +€11,954 | +797% |
| Remuneration, social security and pensions | 62 | €15,295 | €15,284 | -€11 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,673 | €12,673 | = | 0.0% |
| Other operating charges | 640/8 | €679 | €974 | +€295 | +43.4% |
| Gross operating margin | 9900 | €14,308 | €14,475 | +€167 | +1.2% |
| Operating profit (loss) | 9901 | -€14,340 | -€14,457 | -€117 | -0.8% |
| Financial charges | 65/66B | €8,110 | €8,600 | +€490 | +6.0% |
| Recurring financial charges | 65 | €8,110 | €8,600 | +€490 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | -€22,450 | -€23,057 | -€607 | -2.7% |
| Profit (loss) for the period | 9904 | -€22,450 | -€23,057 | -€607 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,450 | -€23,057 | -€607 | -2.7% |
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 14 October 2026 via checked.be.