SARTENAER ASSURANCES: what changed
SARTENAER ASSURANCES
Largest movements
- Intangible fixed assets -€42,857
down €42,857 (-27.9%), from €153,571 to €110,714
- Receivables within one year +€15,834
up €15,834 (+15.3%), from €103,603 to €119,437
of which Other amounts receivable: +€17,991
- Cash +€3,567
up €3,567 (+25.3%), from €14,117 to €17,684
mainly Depreciation (+€45,531) and Trade debts (+€18,514)
- Debts after one year -€38,168
down €38,168 (-25.7%), from €148,365 to €110,197
- Trade debts +€18,514
up €18,514 (+230%), from €8,057 to €26,571
- Profit (loss) carried forward -€15,513
down €15,513 (-23.4%), from €66,237 to €50,724
- Short-term financial debts +€6,125
up €6,125 (+95.6%), from €6,406 to €12,530
- Current portion of long-term debt +€4,037
up €4,037 (+11.8%), from €34,130 to €38,168
- Gross operating margin -€51,716
down €51,716 (-39.2%), from €132,024 to €80,308
- Taxes -€15,421
down €15,421 (-89.3%), from €17,261 to €1,841
- Financial charges +€7,978
up €7,978 (+135%), from €5,923 to €13,901
of which Non-recurring financial charges: +€9,600
- Staff costs +€2,956
up €2,956 (+8.9%), from €33,167 to €36,123
- Financial income +€1,640
up €1,640 (+2,732,800%), from €0 to €1,640
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €285,214 | €260,328 | -€24,886 | -8.7% |
| Fixed assets | 21/28 | €166,994 | €122,243 | -€44,750 | -26.8% |
| Intangible fixed assets | 21 | €153,571 | €110,714 | -€42,857 | -27.9% |
| Tangible fixed assets | 22/27 | €13,422 | €11,529 | -€1,893 | -14.1% |
| Plant, machinery and equipment | 23 | €3,033 | €2,638 | -€396 | -13.0% |
| Furniture and vehicles | 24 | - | €616 | +€616 | |
| Other tangible fixed assets | 26 | €10,389 | €8,276 | -€2,113 | -20.3% |
| Current assets | 29/58 | €118,220 | €138,084 | +€19,864 | +16.8% |
| Amounts receivable within one year | 40/41 | €103,603 | €119,437 | +€15,834 | +15.3% |
| Trade receivables | 40 | €18,695 | €16,537 | -€2,158 | -11.5% |
| Other amounts receivable | 41 | €84,909 | €102,900 | +€17,991 | +21.2% |
| Cash at bank and in hand | 54/58 | €14,117 | €17,684 | +€3,567 | +25.3% |
| Deferred charges and accrued income | 490/1 | €500 | €963 | +€463 | +92.6% |
| Total equity and liabilities | 10/49 | €285,214 | €260,328 | -€24,886 | -8.7% |
| Equity | 10/15 | €76,237 | €60,724 | -€15,513 | -20.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,237 | €50,724 | -€15,513 | -23.4% |
| Amounts payable | 17/49 | €208,976 | €199,604 | -€9,373 | -4.5% |
| Amounts payable after more than one year | 17 | €148,365 | €110,197 | -€38,168 | -25.7% |
| Financial debts | 170/4 | €148,365 | €110,197 | -€38,168 | -25.7% |
| Amounts payable within one year | 42/48 | €60,612 | €89,406 | +€28,795 | +47.5% |
| Current portion of amounts payable after more than one year | 42 | €34,130 | €38,168 | +€4,037 | +11.8% |
| Financial debts | 43 | €6,406 | €12,530 | +€6,125 | +95.6% |
| Credit institutions | 430/8 | €6,406 | €12,530 | +€6,125 | +95.6% |
| Trade debts | 44 | €8,057 | €26,571 | +€18,514 | +230% |
| Suppliers | 440/4 | €8,057 | €26,571 | +€18,514 | +230% |
| Taxes, remuneration and social security | 45 | €12,018 | €12,137 | +€119 | +1.0% |
| Taxes | 450/3 | €7,261 | €7,261 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,757 | €4,876 | +€119 | +2.5% |
| Remuneration, social security and pensions | 62 | €33,167 | €36,123 | +€2,956 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,729 | €45,531 | -€197 | -0.4% |
| Other operating charges | 640/8 | €69 | €66 | -€3 | -4.2% |
| Gross operating margin | 9900 | €132,024 | €80,308 | -€51,716 | -39.2% |
| Operating profit (loss) | 9901 | €53,060 | -€1,412 | -€54,472 | |
| Financial income | 75/76B | €0 | €1,640 | +€1,640 | +2,732,800% |
| Recurring financial income | 75 | €0 | €1,640 | +€1,640 | +2,732,800% |
| Financial charges | 65/66B | €5,923 | €13,901 | +€7,978 | +135% |
| Recurring financial charges | 65 | €5,923 | €4,300 | -€1,623 | -27.4% |
| Non-recurring financial charges | 66B | - | €9,600 | +€9,600 | |
| Profit (loss) for the period before taxes | 9903 | €47,138 | -€13,673 | -€60,810 | |
| Income taxes | 67/77 | €17,261 | €1,841 | -€15,421 | -89.3% |
| Profit (loss) for the period | 9904 | €29,876 | -€15,513 | -€45,390 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,876 | -€15,513 | -€45,390 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.