SARRAZYN THIERRY: 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.
SARRAZYN THIERRY
Largest movements
- Cash +€47,287
up €47,287 (+68.8%), from €68,693 to €115,979
mainly Net result for the year (+€64,038) and Receivables within one year (+€11,890)
- Receivables within one year -€11,890
down €11,890 (-43.7%), from €27,217 to €15,328
of which Other amounts receivable: -€9,500
- Reserves +€64,038
up €64,038 (+27.4%), from €233,777 to €297,815
of which Distributable reserves: +€64,038
- Other debts -€35,344
down €35,344 (-73.7%), from €47,939 to €12,594
- Tax, wage and social debts +€7,469
up €7,469 (+88.6%), from €8,428 to €15,897
- Gross operating margin +€47,243
up €47,243 (+116%), from €40,833 to €88,075
- Taxes +€12,379
up €12,379 (+414%), from €2,992 to €15,372
- Depreciation -€2,690
down €2,690 (-28.5%), from €9,437 to €6,748
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 | €305,186 | €340,790 | +€35,604 | +11.7% |
| Fixed assets | 21/28 | €207,697 | €208,499 | +€803 | +0.4% |
| Tangible fixed assets | 22/27 | €207,635 | €208,438 | +€803 | +0.4% |
| Land and buildings | 22 | €206,745 | €208,438 | +€1,693 | +0.8% |
| Furniture and vehicles | 24 | €890 | €0 | -€890 | -100% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €97,489 | €132,290 | +€34,801 | +35.7% |
| Amounts receivable within one year | 40/41 | €27,217 | €15,328 | -€11,890 | -43.7% |
| Trade receivables | 40 | €17,717 | €15,328 | -€2,390 | -13.5% |
| Other amounts receivable | 41 | €9,500 | €0 | -€9,500 | -100% |
| Cash at bank and in hand | 54/58 | €68,693 | €115,979 | +€47,287 | +68.8% |
| Deferred charges and accrued income | 490/1 | €1,579 | €983 | -€596 | -37.7% |
| Total equity and liabilities | 10/49 | €305,186 | €340,790 | +€35,604 | +11.7% |
| Equity | 10/15 | €246,177 | €310,215 | +€64,038 | +26.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €233,777 | €297,815 | +€64,038 | +27.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €233,777 | €297,815 | +€64,038 | +27.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,008 | €30,575 | -€28,433 | -48.2% |
| Amounts payable within one year | 42/48 | €59,008 | €30,575 | -€28,433 | -48.2% |
| Trade debts | 44 | €2,642 | €2,084 | -€558 | -21.1% |
| Suppliers | 440/4 | €2,642 | €2,084 | -€558 | -21.1% |
| Taxes, remuneration and social security | 45 | €8,428 | €15,897 | +€7,469 | +88.6% |
| Taxes | 450/3 | €8,428 | €15,897 | +€7,469 | +88.6% |
| Other amounts payable | 47/48 | €47,939 | €12,594 | -€35,344 | -73.7% |
| Non-recurring operating income | 76A | €57 | €0 | -€57 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,437 | €6,748 | -€2,690 | -28.5% |
| Other operating charges | 640/8 | €835 | €865 | +€30 | +3.6% |
| Gross operating margin | 9900 | €40,833 | €88,075 | +€47,243 | +116% |
| Operating profit (loss) | 9901 | €30,560 | €80,463 | +€49,902 | +163% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €882 | €1,060 | +€178 | +20.2% |
| Recurring financial charges | 65 | €882 | €1,060 | +€178 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €29,679 | €79,409 | +€49,731 | +168% |
| Income taxes | 67/77 | €2,992 | €15,372 | +€12,379 | +414% |
| Profit (loss) for the period | 9904 | €26,686 | €64,038 | +€37,351 | +140% |
| Profit (loss) for the period to be appropriated | 9905 | €26,686 | €64,038 | +€37,351 | +140% |
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 18 October 2026 via checked.be.