Sast: 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.
Sast
Largest movements
- Cash +€60,773
up €60,773 (+1500.2%), from €4,051 to €64,824
mainly Receivables within one year (+€59,091) and Debts after one year (+€58,847)
- Receivables within one year -€59,091
no longer reported in 2025 (was €59,091)
- Tangible fixed assets -€50,833
down €50,833 (-3.7%), from €1.4m to €1.3m
- Short-term financial debts -€83,839
down €83,839 (-12.4%), from €673,479 to €589,640
- Debts after one year +€58,847
up €58,847 (+20.4%), from €287,866 to €346,713
of which Financial debts: +€56,897
- Profit (loss) carried forward -€25,509
down €25,509 (-18.4%), from -€138,564 to -€164,073
- Other debts -€19,298
down €19,298 (-4.4%), from €441,770 to €422,471
- Current portion of long-term debt +€16,313
up €16,313 (+34.9%), from €46,790 to €63,103
- Gross operating margin -€218,591
down €218,591 (-75.1%), from €290,973 to €72,382
- Financial charges -€24,523
down €24,523 (-37.8%), from €64,953 to €40,431
- Depreciation -€9,039
down €9,039 (-15.1%), from €59,872 to €50,833
- Other operating charges +€3,784
up €3,784 (+133.1%), from €2,844 to €6,628
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 | €1,446,049 | €1,396,970 | -€49,079 | -3.4% |
| Fixed assets | 21/28 | €1,382,296 | €1,331,463 | -€50,833 | -3.7% |
| Tangible fixed assets | 22/27 | €1,382,296 | €1,331,463 | -€50,833 | -3.7% |
| Land and buildings | 22 | €1,382,296 | €1,331,463 | -€50,833 | -3.7% |
| Current assets | 29/58 | €63,753 | €65,507 | +€1,754 | +2.8% |
| Amounts receivable within one year | 40/41 | €59,091 | - | -€59,091 | |
| Other amounts receivable | 41 | €59,091 | - | -€59,091 | |
| Cash at bank and in hand | 54/58 | €4,051 | €64,824 | +€60,773 | +1500.2% |
| Deferred charges and accrued income | 490/1 | €611 | €683 | +€72 | +11.7% |
| Total equity and liabilities | 10/49 | €1,446,049 | €1,396,970 | -€49,079 | -3.4% |
| Equity | 10/15 | -€3,854 | -€29,363 | -€25,509 | -661.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €68,471 | €68,471 | = | 0.0% |
| Reserves | 13 | €4,239 | €4,239 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,239 | €4,239 | = | 0.0% |
| Legal reserve | 130 | €4,239 | €4,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,564 | -€164,073 | -€25,509 | -18.4% |
| Amounts payable | 17/49 | €1,449,903 | €1,426,333 | -€23,570 | -1.6% |
| Amounts payable after more than one year | 17 | €287,866 | €346,713 | +€58,847 | +20.4% |
| Financial debts | 170/4 | €287,866 | €344,763 | +€56,897 | +19.8% |
| Other amounts payable | 178/9 | - | €1,950 | +€1,950 | |
| Amounts payable within one year | 42/48 | €1,162,038 | €1,079,621 | -€82,417 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €46,790 | €63,103 | +€16,313 | +34.9% |
| Financial debts | 43 | €673,479 | €589,640 | -€83,839 | -12.4% |
| Other loans | 439 | €673,479 | €589,640 | -€83,839 | -12.4% |
| Trade debts | 44 | - | €4,407 | +€4,407 | |
| Suppliers | 440/4 | - | €4,407 | +€4,407 | |
| Other amounts payable | 47/48 | €441,770 | €422,471 | -€19,298 | -4.4% |
| Non-recurring operating income | 76A | €148,421 | - | -€148,421 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,872 | €50,833 | -€9,039 | -15.1% |
| Other operating charges | 640/8 | €2,844 | €6,628 | +€3,784 | +133.1% |
| Gross operating margin | 9900 | €290,973 | €72,382 | -€218,591 | -75.1% |
| Operating profit (loss) | 9901 | €228,258 | €14,921 | -€213,336 | -93.5% |
| Financial income | 75/76B | €2,312 | €0 | -€2,312 | -100.0% |
| Recurring financial income | 75 | €2,312 | €0 | -€2,312 | -100.0% |
| Financial charges | 65/66B | €64,953 | €40,431 | -€24,523 | -37.8% |
| Recurring financial charges | 65 | €64,953 | €40,431 | -€24,523 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €165,616 | -€25,509 | -€191,125 | |
| Profit (loss) for the period | 9904 | €165,616 | -€25,509 | -€191,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €165,616 | -€25,509 | -€191,125 |
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.