SART CONSULT: 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.
SART CONSULT
Largest movements
- Tangible fixed assets +€22,951
up €22,951 (+75.8%), from €30,264 to €53,215
of which Furniture and vehicles: +€27,148
- Receivables within one year +€7,044
up €7,044 (+63.8%), from €11,037 to €18,081
of which Trade receivables: +€7,273
- Cash +€5,981
up €5,981 (+7.2%), from €82,793 to €88,774
mainly Other debts (+€59,462) and Net result for the year (+€50,300)
- Other debts +€59,462
up €59,462 (+129%), from €46,024 to €105,486
- Profit (loss) carried forward -€44,700
down €44,700 (-78.7%), from €56,833 to €12,133
- Debts after one year +€18,622
new in 2025: €18,622
- Current portion of long-term debt +€7,259
new in 2025: €7,259
- Trade debts -€7,035
down €7,035 (-56.5%), from €12,461 to €5,426
- Gross operating margin +€48,039
up €48,039 (+112%), from €43,035 to €91,074
- Taxes +€6,919
up €6,919 (+113%), from €6,121 to €13,040
- Depreciation +€6,694
up €6,694 (+85.7%), from €7,811 to €14,505
- Financial charges +€924
up €924 (+157%), from €590 to €1,514
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 | €127,924 | €162,818 | +€34,894 | +27.3% |
| Fixed assets | 21/28 | €32,349 | €54,500 | +€22,151 | +68.5% |
| Intangible fixed assets | 21 | €1,952 | €1,152 | -€800 | -41.0% |
| Tangible fixed assets | 22/27 | €30,264 | €53,215 | +€22,951 | +75.8% |
| Furniture and vehicles | 24 | €8,803 | €35,951 | +€27,148 | +308% |
| Other tangible fixed assets | 26 | €21,461 | €17,264 | -€4,197 | -19.6% |
| Financial fixed assets | 28 | €133 | €133 | = | 0.0% |
| Current assets | 29/58 | €95,575 | €108,318 | +€12,743 | +13.3% |
| Amounts receivable within one year | 40/41 | €11,037 | €18,081 | +€7,044 | +63.8% |
| Trade receivables | 40 | €10,704 | €17,977 | +€7,273 | +67.9% |
| Other amounts receivable | 41 | €333 | €104 | -€229 | -68.8% |
| Cash at bank and in hand | 54/58 | €82,793 | €88,774 | +€5,981 | +7.2% |
| Deferred charges and accrued income | 490/1 | €1,745 | €1,463 | -€282 | -16.2% |
| Total equity and liabilities | 10/49 | €127,924 | €162,818 | +€34,894 | +27.3% |
| Equity | 10/15 | €57,933 | €13,233 | -€44,700 | -77.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,833 | €12,133 | -€44,700 | -78.7% |
| Amounts payable | 17/49 | €69,991 | €149,585 | +€79,594 | +114% |
| Amounts payable after more than one year | 17 | - | €18,622 | +€18,622 | |
| Financial debts | 170/4 | - | €18,622 | +€18,622 | |
| Amounts payable within one year | 42/48 | €69,991 | €130,963 | +€60,972 | +87.1% |
| Current portion of amounts payable after more than one year | 42 | - | €7,259 | +€7,259 | |
| Trade debts | 44 | €12,461 | €5,426 | -€7,035 | -56.5% |
| Suppliers | 440/4 | €12,461 | €5,426 | -€7,035 | -56.5% |
| Taxes, remuneration and social security | 45 | €11,506 | €12,792 | +€1,286 | +11.2% |
| Taxes | 450/3 | €11,506 | €9,814 | -€1,692 | -14.7% |
| Remuneration and social security | 454/9 | - | €2,978 | +€2,978 | |
| Other amounts payable | 47/48 | €46,024 | €105,486 | +€59,462 | +129% |
| Remuneration, social security and pensions | 62 | €4,059 | €4,512 | +€453 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,811 | €14,505 | +€6,694 | +85.7% |
| Other operating charges | 640/8 | €7,117 | €7,717 | +€600 | +8.4% |
| Gross operating margin | 9900 | €43,035 | €91,074 | +€48,039 | +112% |
| Operating profit (loss) | 9901 | €24,048 | €64,340 | +€40,292 | +168% |
| Financial income | 75/76B | €1,142 | €514 | -€628 | -55.0% |
| Recurring financial income | 75 | €1,142 | €514 | -€628 | -55.0% |
| Financial charges | 65/66B | €590 | €1,514 | +€924 | +157% |
| Recurring financial charges | 65 | €590 | €1,514 | +€924 | +157% |
| Profit (loss) for the period before taxes | 9903 | €24,600 | €63,340 | +€38,740 | +157% |
| Income taxes | 67/77 | €6,121 | €13,040 | +€6,919 | +113% |
| Profit (loss) for the period | 9904 | €18,479 | €50,300 | +€31,821 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €18,479 | €50,300 | +€31,821 | +172% |
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 22 October 2026 via checked.be.