SART TECHNICS: what changed
Two fiscal 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 TECHNICS
Largest movements
- Receivables within one year -€64,760
down €64,760 (-68.5%), from €94,599 to €29,839
of which Trade receivables: -€74,502
- Tangible fixed assets -€29,000
down €29,000 (-47.2%), from €61,414 to €32,414
of which Leasing and similar rights: -€58,716
- Cash -€19,045
down €19,045 (-81.1%), from €23,472 to €4,427
mainly Net result for the year (-€44,109) and Debts after one year (-€38,752)
- Receivables after one year -€5,000
no longer reported in 2025 (was €5,000)
- Deferred charges and accrued income +€3,692
up €3,692 (+387.4%), from €953 to €4,645
- Debts after one year -€38,752
down €38,752 (-94.7%), from €40,909 to €2,157
- Reserves -€38,069
down €38,069 (-60.4%), from €63,002 to €24,933
- Trade debts -€34,590
down €34,590 (-79.3%), from €43,630 to €9,040
- Profit (loss) carried forward -€27,718
new in 2025: -€27,718
- Other debts +€13,108
up €13,108 (+123.7%), from €10,596 to €23,705
- Gross operating margin -€83,996
down €83,996, from €78,933 to -€5,063
- Write-downs -€36,035
no longer reported in 2025 (was €36,035)
- Other operating charges +€10,631
up €10,631 (+634.0%), from €1,677 to €12,308
- Taxes -€7,049
no longer reported in 2025 (was €7,049)
- Depreciation -€6,485
down €6,485 (-44.7%), from €14,498 to €8,013
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 | €188,637 | €74,201 | -€114,436 | -60.7% |
| Fixed assets | 21/28 | €62,109 | €32,764 | -€29,345 | -47.2% |
| Tangible fixed assets | 22/27 | €61,414 | €32,414 | -€29,000 | -47.2% |
| Plant, machinery and equipment | 23 | €2,362 | €1,403 | -€959 | -40.6% |
| Furniture and vehicles | 24 | €335 | €31,010 | +€30,675 | +9153.8% |
| Leasing and similar rights | 25 | €58,716 | - | -€58,716 | |
| Financial fixed assets | 28 | €695 | €350 | -€345 | -49.6% |
| Current assets | 29/58 | €126,529 | €41,437 | -€85,091 | -67.3% |
| Amounts receivable after more than one year | 29 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 291 | €5,000 | - | -€5,000 | |
| Stocks and contracts in progress | 3 | €2,505 | €2,526 | +€21 | +0.8% |
| Stocks | 30/36 | €2,505 | €2,526 | +€21 | +0.8% |
| Amounts receivable within one year | 40/41 | €94,599 | €29,839 | -€64,760 | -68.5% |
| Trade receivables | 40 | €92,000 | €17,498 | -€74,502 | -81.0% |
| Other amounts receivable | 41 | €2,599 | €12,341 | +€9,743 | +374.9% |
| Cash at bank and in hand | 54/58 | €23,472 | €4,427 | -€19,045 | -81.1% |
| Deferred charges and accrued income | 490/1 | €953 | €4,645 | +€3,692 | +387.4% |
| Total equity and liabilities | 10/49 | €188,637 | €74,201 | -€114,436 | -60.7% |
| Equity | 10/15 | €81,602 | €15,815 | -€65,787 | -80.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,002 | €24,933 | -€38,069 | -60.4% |
| Distributable reserves | 133 | €63,002 | €24,933 | -€38,069 | -60.4% |
| Profit (loss) carried forward | 14 | - | -€27,718 | -€27,718 | |
| Amounts payable | 17/49 | €107,036 | €58,386 | -€48,649 | -45.5% |
| Amounts payable after more than one year | 17 | €40,909 | €2,157 | -€38,752 | -94.7% |
| Financial debts | 170/4 | €40,909 | €2,157 | -€38,752 | -94.7% |
| Amounts payable within one year | 42/48 | €65,373 | €55,921 | -€9,451 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | - | €12,657 | +€12,657 | |
| Trade debts | 44 | €43,630 | €9,040 | -€34,590 | -79.3% |
| Suppliers | 440/4 | €43,630 | €9,040 | -€34,590 | -79.3% |
| Taxes, remuneration and social security | 45 | €11,146 | €10,519 | -€627 | -5.6% |
| Taxes | 450/3 | €8,882 | €7,969 | -€913 | -10.3% |
| Remuneration and social security | 454/9 | €2,265 | €2,551 | +€286 | +12.6% |
| Other amounts payable | 47/48 | €10,596 | €23,705 | +€13,108 | +123.7% |
| Accrued charges and deferred income | 492/3 | €754 | €308 | -€446 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,498 | €8,013 | -€6,485 | -44.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,035 | - | -€36,035 | |
| Other operating charges | 640/8 | €1,677 | €12,308 | +€10,631 | +634.0% |
| Non-recurring operating charges | 66A | €15 | €17,808 | +€17,793 | +119737.8% |
| Gross operating margin | 9900 | €78,933 | -€5,063 | -€83,996 | |
| Operating profit (loss) | 9901 | €26,709 | -€43,192 | -€69,900 | |
| Financial income | 75/76B | €9 | €114 | +€105 | +1219.9% |
| Recurring financial income | 75 | €9 | €114 | +€105 | +1219.9% |
| Financial charges | 65/66B | €2,796 | €1,030 | -€1,766 | -63.2% |
| Recurring financial charges | 65 | €2,796 | €1,030 | -€1,766 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €23,921 | -€44,109 | -€68,029 | |
| Income taxes | 67/77 | €7,049 | - | -€7,049 | |
| Profit (loss) for the period | 9904 | €16,872 | -€44,109 | -€60,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,872 | -€44,109 | -€60,980 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.