SART & CO: what changed
What changed
SART & CO
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
filed annual accounts (NBB)
Net result for the year
-€340,914
2024 · -€125,413-€215,502
Equity
-€457,183
2024 · -€116,269-€340,914
Cash
€173,788
2024 · €329,935-€156,148
Balance sheet total
€2.8m
2024 · €2.1m+€735,999
Largest movements
Assets
- Tangible fixed assets +€587,322
up €587,322 (+53.0%), from €1.1m to €1.7m
- Cash -€156,148
down €156,148 (-47.3%), from €329,935 to €173,788
mainly Investment in fixed assets (net) (-€924,707) and Net result for the year (-€340,914)
- Formation expenses +€125,969
up €125,969 (+1,306%), from €9,645 to €135,613
- Stocks and contracts +€103,657
up €103,657 (+27.3%), from €379,638 to €483,295
- Receivables after one year +€85,000
new in 2025: €85,000
Equity and liabilities
- Debts after one year +€823,316
up €823,316 (+89.4%), from €921,444 to €1.7m
of which Financial debts: +€513,316
- Trade debts +€372,999
up €372,999 (+55.4%), from €673,669 to €1.0m
- Profit (loss) carried forward -€340,914
down €340,914 (-138%), from -€247,519 to -€588,433
- Other debts -€144,998
down €144,998 (-90.6%), from €160,000 to €15,002
Income statement
- Depreciation +€178,370
up €178,370 (+540%), from €33,046 to €211,416
- Staff costs +€119,760
up €119,760 (+25.9%), from €461,646 to €581,407
- Gross operating margin +€73,935
up €73,935 (+14.8%), from €499,130 to €573,065
- Financial charges +€29,098
up €29,098 (+41.3%), from €70,484 to €99,582
of which Financial charges: +€22,405
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€125,413
Gross operating margin
+€73,935
Staff costs
-€119,760
Depreciation
-€178,370
Other operating charges
+€2,708
Other operating items
+€35,897
Financial income
-€535
Financial charges
-€29,098
Taxes
-€278
Result 2025
-€340,914
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€58,915
Investment
-€924,707
Financing
+€827,475
Cash 2024
€329,935
From operations (derived)
-€58,915
Net result for the year
-€340,914
Depreciation
+€211,416
Receivables after one year
-€85,000
Stocks and contracts
-€103,657
Receivables within one year
+€16,906
Deferred charges and accrued income
-€7,104
Trade debts
+€372,999
Tax, wage and social debts
+€9,378
Other debts
-€144,998
Accrued charges and deferred income
+€12,059
Investment (derived)
-€924,707
Investment in fixed assets (net)
-€924,707
Financing
+€827,475
Debts after one year
+€823,316
Current portion of long-term debt
+€1,658
Short-term financial debts
+€2,500
Cash 2025
€173,788
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,057,964 | €2,793,963 | +€735,999 | +35.8% |
| Formation expenses | 20 | €9,645 | €135,613 | +€125,969 | +1,306% |
| Fixed assets | 21/28 | €1,121,035 | €1,708,358 | +€587,322 | +52.4% |
| Tangible fixed assets | 22/27 | €1,107,717 | €1,695,039 | +€587,322 | +53.0% |
| Land and buildings | 22 | €16,264 | €13,946 | -€2,317 | -14.2% |
| Plant, machinery and equipment | 23 | €821,907 | €1,099,095 | +€277,188 | +33.7% |
| Furniture and vehicles | 24 | €17,288 | €202,649 | +€185,361 | +1,072% |
| Other tangible fixed assets | 26 | €252,258 | €379,349 | +€127,091 | +50.4% |
| Financial fixed assets | 28 | €13,318 | €13,318 | = | 0.0% |
| Current assets | 29/58 | €927,284 | €949,992 | +€22,707 | +2.4% |
| Amounts receivable after more than one year | 29 | - | €85,000 | +€85,000 | |
| Other amounts receivable | 291 | - | €85,000 | +€85,000 | |
| Stocks and contracts in progress | 3 | €379,638 | €483,295 | +€103,657 | +27.3% |
| Stocks | 30/36 | €379,638 | €483,295 | +€103,657 | +27.3% |
| Amounts receivable within one year | 40/41 | €209,840 | €192,934 | -€16,906 | -8.1% |
| Trade receivables | 40 | €83,279 | €103,142 | +€19,863 | +23.9% |
| Other amounts receivable | 41 | €126,561 | €89,792 | -€36,769 | -29.1% |
| Cash at bank and in hand | 54/58 | €329,935 | €173,788 | -€156,148 | -47.3% |
| Deferred charges and accrued income | 490/1 | €7,871 | €14,975 | +€7,104 | +90.3% |
| Total equity and liabilities | 10/49 | €2,057,964 | €2,793,963 | +€735,999 | +35.8% |
| Equity | 10/15 | -€116,269 | -€457,183 | -€340,914 | -293% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€247,519 | -€588,433 | -€340,914 | -138% |
| Amounts payable | 17/49 | €2,174,233 | €3,251,146 | +€1.1m | +49.5% |
| Amounts payable after more than one year | 17 | €921,444 | €1,744,760 | +€823,316 | +89.4% |
| Financial debts | 170/4 | €917,644 | €1,430,960 | +€513,316 | +55.9% |
| Other amounts payable | 178/9 | €3,800 | €313,800 | +€310,000 | +8,158% |
| Amounts payable within one year | 42/48 | €1,250,608 | €1,492,146 | +€241,538 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €209,414 | €211,072 | +€1,658 | +0.8% |
| Financial debts | 43 | €154,000 | €156,500 | +€2,500 | +1.6% |
| Credit institutions | 430/8 | €29,000 | €31,500 | +€2,500 | +8.6% |
| Other loans | 439 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €673,669 | €1,046,669 | +€372,999 | +55.4% |
| Suppliers | 440/4 | €673,669 | €1,046,669 | +€372,999 | +55.4% |
| Taxes, remuneration and social security | 45 | €53,525 | €62,903 | +€9,378 | +17.5% |
| Taxes | 450/3 | €569 | €983 | +€414 | +72.7% |
| Remuneration and social security | 454/9 | €52,956 | €61,920 | +€8,964 | +16.9% |
| Other amounts payable | 47/48 | €160,000 | €15,002 | -€144,998 | -90.6% |
| Accrued charges and deferred income | 492/3 | €2,181 | €14,240 | +€12,059 | +553% |
| Non-recurring operating income | 76A | €1,796 | €97,840 | +€96,044 | +5,347% |
| Remuneration, social security and pensions | 62 | €461,646 | €581,407 | +€119,760 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,046 | €211,416 | +€178,370 | +540% |
| Other operating charges | 640/8 | €22,461 | €19,753 | -€2,708 | -12.1% |
| Non-recurring operating charges | 66A | €36,897 | €1,000 | -€35,897 | -97.3% |
| Gross operating margin | 9900 | €499,130 | €573,065 | +€73,935 | +14.8% |
| Operating profit (loss) | 9901 | -€54,920 | -€240,511 | -€185,591 | -338% |
| Financial income | 75/76B | €581 | €46 | -€535 | -92.0% |
| Recurring financial income | 75 | €581 | €46 | -€535 | -92.0% |
| Financial charges | 65/66B | €70,484 | €99,582 | +€29,098 | +41.3% |
| Recurring financial charges | 65 | €70,484 | €92,888 | +€22,405 | +31.8% |
| Non-recurring financial charges | 66B | - | €6,694 | +€6,694 | |
| Profit (loss) for the period before taxes | 9903 | -€124,823 | -€340,047 | -€215,224 | -172% |
| Income taxes | 67/77 | €590 | €867 | +€278 | +47.0% |
| Profit (loss) for the period | 9904 | -€125,413 | -€340,914 | -€215,502 | -172% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,413 | -€340,914 | -€215,502 | -172% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.