SARTEMA SA: 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.
SARTEMA SA
Largest movements
- Tangible fixed assets +€217,511
up €217,511 (+73.7%), from €295,249 to €512,760
of which Land and buildings: +€173,599
- Receivables within one year +€13,641
new in 2025: €13,641
- Revaluation surpluses +€192,000
up €192,000 (+130%), from €148,000 to €340,000
- Trade debts +€41,063
up €41,063 (+2,107%), from €1,949 to €43,012
- Current portion of long-term debt -€23,695
no longer reported in 2025 (was €23,695)
- Other debts +€20,664
up €20,664 (+18.0%), from €115,072 to €135,736
- Short-term financial debts +€20,207
up €20,207 (+1,566%), from €1,290 to €21,497
- Taxes -€9,220
down €9,220 (-77.1%), from €11,958 to €2,738
- Other operating charges -€5,958
no longer reported in 2025 (was €5,958)
- Financial charges -€619
down €619 (-25.1%), from €2,470 to €1,851
of which Financial charges: -€619
- Gross operating margin -€598
down €598 (-3.9%), from €15,162 to €14,564
- Financial income +€489
new in 2025: €489
of which Financial income: +€489
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €295,252 | €526,401 | +€231,149 | +78.3% |
| Fixed assets | 21/28 | €295,249 | €512,760 | +€217,511 | +73.7% |
| Tangible fixed assets | 22/27 | €295,249 | €512,760 | +€217,511 | +73.7% |
| Land and buildings | 22 | €295,249 | €468,848 | +€173,599 | +58.8% |
| Assets under construction and advance payments | 27 | - | €43,912 | +€43,912 | |
| Current assets | 29/58 | €3 | €13,641 | +€13,638 | +454,600% |
| Amounts receivable within one year | 40/41 | - | €13,641 | +€13,641 | |
| Trade receivables | 40 | - | €13,641 | +€13,641 | |
| Current investments | 50/53 | €3 | - | -€3 | |
| Total equity and liabilities | 10/49 | €295,252 | €526,401 | +€231,149 | +78.3% |
| Equity | 10/15 | €136,917 | €312,464 | +€175,547 | +128% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €148,000 | €340,000 | +€192,000 | +130% |
| Profit (loss) carried forward | 14 | -€111,083 | -€127,536 | -€16,453 | -14.8% |
| Amounts payable | 17/49 | €158,335 | €213,937 | +€55,602 | +35.1% |
| Amounts payable within one year | 42/48 | €157,175 | €213,937 | +€56,762 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | €23,695 | - | -€23,695 | |
| Financial debts | 43 | €1,290 | €21,497 | +€20,207 | +1,566% |
| Credit institutions | 430/8 | €1,290 | €21,497 | +€20,207 | +1,566% |
| Trade debts | 44 | €1,949 | €43,012 | +€41,063 | +2,107% |
| Suppliers | 440/4 | €1,949 | €43,012 | +€41,063 | +2,107% |
| Taxes, remuneration and social security | 45 | €15,169 | €13,692 | -€1,477 | -9.7% |
| Taxes | 450/3 | €15,169 | €13,692 | -€1,477 | -9.7% |
| Other amounts payable | 47/48 | €115,072 | €135,736 | +€20,664 | +18.0% |
| Accrued charges and deferred income | 492/3 | €1,160 | - | -€1,160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,956 | €24,248 | +€292 | +1.2% |
| Other operating charges | 640/8 | €5,958 | - | -€5,958 | |
| Non-recurring operating charges | 66A | - | €2,669 | +€2,669 | |
| Gross operating margin | 9900 | €15,162 | €14,564 | -€598 | -3.9% |
| Operating profit (loss) | 9901 | -€14,752 | -€12,353 | +€2,399 | +16.3% |
| Financial income | 75/76B | - | €489 | +€489 | |
| Recurring financial income | 75 | - | €489 | +€489 | |
| Non-recurring financial income | 76B | - | €489 | +€489 | |
| Financial charges | 65/66B | €2,470 | €1,851 | -€619 | -25.1% |
| Recurring financial charges | 65 | €2,470 | €1,851 | -€619 | -25.1% |
| Non-recurring financial charges | 66B | €2,470 | €1,851 | -€619 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,222 | -€13,715 | +€3,507 | +20.4% |
| Income taxes | 67/77 | €11,958 | €2,738 | -€9,220 | -77.1% |
| Profit (loss) for the period | 9904 | -€29,180 | -€16,453 | +€12,727 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,180 | -€16,453 | +€12,727 | +43.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.