SARS IMMO: 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.
SARS IMMO
Largest movements
- Cash -€152,495
down €152,495 (-41.6%), from €366,731 to €214,235
mainly Other debts (-€125,965) and Net result for the year (-€45,096)
- Tangible fixed assets +€15,501
up €15,501 (+1.6%), from €952,716 to €968,217
- Other debts -€125,965
down €125,965 (-17.5%), from €720,259 to €594,294
- Accrued charges and deferred income +€36,442
up €36,442 (+112.9%), from €32,272 to €68,714
- Profit (loss) carried forward -€35,597
down €35,597 (-30.0%), from -€118,481 to -€154,078
- Financial charges +€36,450
up €36,450 (+116975.3%), from €31 to €36,481
- Other operating charges +€2,879
up €2,879 (+373.1%), from €772 to €3,651
- Gross operating margin +€894
up €894 (+6.0%), from €14,889 to €15,783
- Depreciation +€559
up €559 (+2.5%), from €22,563 to €23,122
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 | €1,319,446 | €1,182,452 | -€136,994 | -10.4% |
| Fixed assets | 21/28 | €952,716 | €968,217 | +€15,501 | +1.6% |
| Tangible fixed assets | 22/27 | €952,716 | €968,217 | +€15,501 | +1.6% |
| Land and buildings | 22 | €952,716 | €968,217 | +€15,501 | +1.6% |
| Current assets | 29/58 | €366,731 | €214,235 | -€152,495 | -41.6% |
| Cash at bank and in hand | 54/58 | €366,731 | €214,235 | -€152,495 | -41.6% |
| Total equity and liabilities | 10/49 | €1,319,446 | €1,182,452 | -€136,994 | -10.4% |
| Equity | 10/15 | €536,836 | €491,739 | -€45,096 | -8.4% |
| Contributions | 10/11 | €535,000 | €535,000 | = | 0.0% |
| Capital | 10 | €535,000 | €535,000 | = | 0.0% |
| Issued capital | 100 | €535,000 | €535,000 | = | 0.0% |
| Reserves | 13 | €120,317 | €110,818 | -€9,499 | -7.9% |
| Tax-exempt reserves | 132 | €120,317 | €110,818 | -€9,499 | -7.9% |
| Profit (loss) carried forward | 14 | -€118,481 | -€154,078 | -€35,597 | -30.0% |
| Provisions and deferred taxes | 16 | €30,079 | €27,704 | -€2,375 | -7.9% |
| Deferred taxes | 168 | €30,079 | €27,704 | -€2,375 | -7.9% |
| Amounts payable | 17/49 | €752,531 | €663,008 | -€89,523 | -11.9% |
| Amounts payable within one year | 42/48 | €720,259 | €594,294 | -€125,965 | -17.5% |
| Other amounts payable | 47/48 | €720,259 | €594,294 | -€125,965 | -17.5% |
| Accrued charges and deferred income | 492/3 | €32,272 | €68,714 | +€36,442 | +112.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,563 | €23,122 | +€559 | +2.5% |
| Other operating charges | 640/8 | €772 | €3,651 | +€2,879 | +373.1% |
| Gross operating margin | 9900 | €14,889 | €15,783 | +€894 | +6.0% |
| Operating profit (loss) | 9901 | -€8,445 | -€10,990 | -€2,545 | -30.1% |
| Financial charges | 65/66B | €31 | €36,481 | +€36,450 | +116975.3% |
| Recurring financial charges | 65 | €31 | €36,481 | +€36,450 | +116975.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,476 | -€47,471 | -€38,995 | -460.0% |
| Transfer from deferred taxes | 780 | €2,375 | €2,375 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€6,102 | -€45,096 | -€38,995 | -639.1% |
| Transfer from tax-exempt reserves | 789 | €9,499 | €9,499 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,397 | -€35,597 | -€38,995 |
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 12 October 2026 via checked.be.