SART - 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.
SART - IMMO
Largest movements
- Cash +€131,306
up €131,306 (+1,413%), from €9,292 to €140,597
mainly Contributions, distributions and other (+€125,080) and Net result for the year (+€7,248)
- Contributions +€125,080
up €125,080 (+200%), from €62,500 to €187,580
- Profit (loss) carried forward +€6,748
up €6,748 (+64.1%), from €10,520 to €17,268
- Gross operating margin -€2,758
down €2,758 (-21.2%), from €13,027 to €10,269
- Taxes -€935
down €935 (-27.9%), from €3,348 to €2,413
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 | €78,859 | €210,164 | +€131,306 | +167% |
| Fixed assets | 21/28 | €69,567 | €69,567 | = | 0.0% |
| Tangible fixed assets | 22/27 | €69,567 | €69,567 | = | 0.0% |
| Land and buildings | 22 | €69,567 | €69,567 | = | 0.0% |
| Current assets | 29/58 | €9,292 | €140,597 | +€131,306 | +1,413% |
| Cash at bank and in hand | 54/58 | €9,292 | €140,597 | +€131,306 | +1,413% |
| Total equity and liabilities | 10/49 | €78,859 | €210,164 | +€131,306 | +167% |
| Equity | 10/15 | €74,520 | €206,848 | +€132,328 | +178% |
| Contributions | 10/11 | €62,500 | €187,580 | +€125,080 | +200% |
| Capital | 10 | €62,500 | €187,580 | +€125,080 | +200% |
| Issued capital | 100 | €62,500 | €187,580 | +€125,080 | +200% |
| Reserves | 13 | €1,500 | €2,000 | +€500 | +33.3% |
| Non-distributable reserves | 130/1 | €1,500 | €2,000 | +€500 | +33.3% |
| Legal reserve | 130 | €1,500 | €2,000 | +€500 | +33.3% |
| Profit (loss) carried forward | 14 | €10,520 | €17,268 | +€6,748 | +64.1% |
| Amounts payable | 17/49 | €4,339 | €3,316 | -€1,023 | -23.6% |
| Amounts payable within one year | 42/48 | €4,339 | €3,316 | -€1,023 | -23.6% |
| Trade debts | 44 | €25 | €507 | +€482 | +1,952% |
| Suppliers | 440/4 | €25 | €507 | +€482 | +1,952% |
| Taxes, remuneration and social security | 45 | €4,314 | €2,809 | -€1,505 | -34.9% |
| Taxes | 450/3 | €4,314 | €2,809 | -€1,505 | -34.9% |
| Other operating charges | 640/8 | €477 | €400 | -€77 | -16.2% |
| Gross operating margin | 9900 | €13,027 | €10,269 | -€2,758 | -21.2% |
| Operating profit (loss) | 9901 | €12,550 | €9,870 | -€2,681 | -21.4% |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €265 | €232 | -€33 | -12.6% |
| Recurring financial charges | 65 | €265 | €232 | -€33 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €12,285 | €9,661 | -€2,624 | -21.4% |
| Income taxes | 67/77 | €3,348 | €2,413 | -€935 | -27.9% |
| Profit (loss) for the period | 9904 | €8,937 | €7,248 | -€1,689 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,937 | €7,248 | -€1,689 | -18.9% |
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 19 October 2026 via checked.be.