SART-TILMAN PROPERTIES: 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-TILMAN PROPERTIES
Largest movements
- Stocks and contracts +€2.1m
new in 2025: €2.1m
- Receivables within one year +€48,339
up €48,339 (+2,770%), from €1,745 to €50,084
of which Other amounts receivable: +€48,339
- Cash -€26,210
down €26,210 (-34.9%), from €75,079 to €48,869
mainly Stocks and contracts (-€2.1m) and Receivables within one year (-€48,339)
- Current portion of long-term debt +€1.2m
new in 2025: €1.2m
- Trade debts +€881,592
up €881,592, from €0 to €881,592
- Financial income -€14,599
no longer reported in 2025 (was €14,599)
- Gross operating margin +€7,913
up €7,913, from -€5,670 to €2,244
- Financial charges +€2,530
up €2,530 (+1,687%), from €150 to €2,680
- Taxes -€1,953
no longer reported in 2025 (was €1,953)
- Other operating charges +€1,683
up €1,683 (+174%), from €968 to €2,651
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 | €76,825 | €2,186,810 | +€2.1m | +2,746% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €76,825 | €2,186,810 | +€2.1m | +2,746% |
| Stocks and contracts in progress | 3 | - | €2,087,857 | +€2.1m | |
| Stocks | 30/36 | - | €2,087,857 | +€2.1m | |
| Amounts receivable within one year | 40/41 | €1,745 | €50,084 | +€48,339 | +2,770% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,745 | €50,084 | +€48,339 | +2,770% |
| Cash at bank and in hand | 54/58 | €75,079 | €48,869 | -€26,210 | -34.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €76,825 | €2,186,810 | +€2.1m | +2,746% |
| Equity | 10/15 | €76,825 | €73,738 | -€3,087 | -4.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,175 | €6,088 | -€3,087 | -33.6% |
| Amounts payable | 17/49 | €0 | €2,113,072 | +€2.1m | |
| Amounts payable within one year | 42/48 | €0 | €2,113,072 | +€2.1m | |
| Current portion of amounts payable after more than one year | 42 | - | €1,231,480 | +€1.2m | |
| Trade debts | 44 | €0 | €881,592 | +€881,592 | |
| Suppliers | 440/4 | €0 | €881,592 | +€881,592 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €968 | €2,651 | +€1,683 | +174% |
| Gross operating margin | 9900 | -€5,670 | €2,244 | +€7,913 | |
| Operating profit (loss) | 9901 | -€6,637 | -€407 | +€6,230 | +93.9% |
| Financial income | 75/76B | €14,599 | - | -€14,599 | |
| Recurring financial income | 75 | €14,599 | - | -€14,599 | |
| Financial charges | 65/66B | €150 | €2,680 | +€2,530 | +1,687% |
| Recurring financial charges | 65 | €150 | €2,680 | +€2,530 | +1,687% |
| Profit (loss) for the period before taxes | 9903 | €7,812 | -€3,087 | -€10,899 | |
| Income taxes | 67/77 | €1,953 | - | -€1,953 | |
| Profit (loss) for the period | 9904 | €5,859 | -€3,087 | -€8,946 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,859 | -€3,087 | -€8,946 |
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 30 October 2026 via checked.be.