Sarmat: 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.
Sarmat
Largest movements
- Cash -€48,919
down €48,919 (-33.7%), from €145,075 to €96,156
mainly Net result for the year (-€27,430) and Debts after one year (-€21,666)
- Current investments -€15,371
down €15,371 (-3.3%), from €466,920 to €451,549
- Reserves -€129,019
down €129,019 (-24.8%), from €520,909 to €391,890
of which Distributable reserves: -€129,018
- Profit (loss) carried forward +€103,455
up €103,455, from -€929 to €102,526
- Debts after one year -€21,666
down €21,666 (-37.8%), from €57,346 to €35,680
- Revaluation surpluses -€17,049
no longer reported in 2022 (was €17,049)
- Taxes +€19,418
up €19,418 (+107%), from €18,150 to €37,568
- Financial income -€17,328
down €17,328 (-36.4%), from €47,640 to €30,312
- Gross operating margin +€10,091
up €10,091 (+43.4%), from -€23,236 to -€13,145
- Purchases and services -€7,926
down €7,926 (-29.5%), from €26,908 to €18,982
- Staff costs +€374
up €374 (+20.8%), from €1,798 to €2,172
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €617,366 | €550,610 | -€66,756 | -10.8% |
| Fixed assets | 21/28 | €454 | €454 | = | 0.0% |
| Tangible fixed assets | 22/27 | €454 | €454 | = | 0.0% |
| Plant, machinery and equipment | 23 | €193 | €193 | = | 0.0% |
| Furniture and vehicles | 24 | €261 | €261 | = | 0.0% |
| Current assets | 29/58 | €616,912 | €550,156 | -€66,756 | -10.8% |
| Amounts receivable after more than one year | 29 | €500 | €500 | = | 0.0% |
| Other amounts receivable | 291 | €500 | €500 | = | 0.0% |
| Stocks and contracts in progress | 3 | €403 | €403 | = | 0.0% |
| Stocks | 30/36 | €403 | €403 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,241 | €1,059 | -€2,182 | -67.3% |
| Trade receivables | 40 | €3,175 | €993 | -€2,182 | -68.7% |
| Other amounts receivable | 41 | €66 | €66 | = | 0.0% |
| Current investments | 50/53 | €466,920 | €451,549 | -€15,371 | -3.3% |
| Cash at bank and in hand | 54/58 | €145,075 | €96,156 | -€48,919 | -33.7% |
| Deferred charges and accrued income | 490/1 | €773 | €489 | -€284 | -36.7% |
| Total equity and liabilities | 10/49 | €617,366 | €550,610 | -€66,756 | -10.8% |
| Equity | 10/15 | €542,339 | €499,725 | -€42,614 | -7.9% |
| Contributions | 10/11 | €5,310 | €5,309 | -€1 | 0.0% |
| Capital | 10 | €5,310 | €5,309 | -€1 | 0.0% |
| Issued capital | 100 | €5,310 | €5,309 | -€1 | 0.0% |
| Revaluation surpluses | 12 | €17,049 | - | -€17,049 | |
| Reserves | 13 | €520,909 | €391,890 | -€129,019 | -24.8% |
| Non-distributable reserves | 130/1 | €152 | €126,151 | +€125,999 | +82,894% |
| Legal reserve | 130 | €152 | €151 | -€1 | -0.7% |
| Other | 1319 | - | €126,000 | +€126,000 | |
| Tax-exempt reserves | 132 | €126,000 | - | -€126,000 | |
| Distributable reserves | 133 | €394,757 | €265,739 | -€129,018 | -32.7% |
| Profit (loss) carried forward | 14 | -€929 | €102,526 | +€103,455 | |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €60,027 | €35,885 | -€24,142 | -40.2% |
| Amounts payable after more than one year | 17 | €57,346 | €35,680 | -€21,666 | -37.8% |
| Other amounts payable | 178/9 | €57,346 | €35,680 | -€21,666 | -37.8% |
| Amounts payable within one year | 42/48 | €2,026 | €205 | -€1,821 | -89.9% |
| Financial debts | 43 | €51 | - | -€51 | |
| Credit institutions | 430/8 | €51 | - | -€51 | |
| Trade debts | 44 | €1,675 | €205 | -€1,470 | -87.8% |
| Suppliers | 440/4 | €1,675 | €205 | -€1,470 | -87.8% |
| Taxes, remuneration and social security | 45 | €300 | - | -€300 | |
| Remuneration and social security | 454/9 | €300 | - | -€300 | |
| Accrued charges and deferred income | 492/3 | €655 | - | -€655 | |
| Turnover | 70 | €5,203 | €5,237 | +€34 | +0.7% |
| Non-recurring operating income | 76A | - | €1,002 | +€1,002 | |
| Goods, raw materials, services and sundry goods | 60/61 | €26,908 | €18,982 | -€7,926 | -29.5% |
| Remuneration, social security and pensions | 62 | €1,798 | €2,172 | +€374 | +20.8% |
| Other operating charges | 640/8 | €808 | €450 | -€358 | -44.3% |
| Gross operating margin | 9900 | -€23,236 | -€13,145 | +€10,091 | +43.4% |
| Operating profit (loss) | 9901 | -€25,842 | -€15,767 | +€10,075 | +39.0% |
| Financial income | 75/76B | €47,640 | €30,312 | -€17,328 | -36.4% |
| Recurring financial income | 75 | €47,640 | €30,312 | -€17,328 | -36.4% |
| Financial charges | 65/66B | €4,577 | €4,407 | -€170 | -3.7% |
| Recurring financial charges | 65 | €4,577 | €4,407 | -€170 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €17,221 | €10,138 | -€7,083 | -41.1% |
| Income taxes | 67/77 | €18,150 | €37,568 | +€19,418 | +107% |
| Profit (loss) for the period | 9904 | -€929 | -€27,430 | -€26,501 | -2,853% |
| Profit (loss) for the period to be appropriated | 9905 | -€929 | -€27,430 | -€26,501 | -2,853% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.