Losses
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 71% of them on solvency, 91% on liquidity, 17% on profitability and 23% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 4,805 companies had the same profile as SAGRAS has now. Each dot stands for 13 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SAGRAS itself is lower: 0.2% within 12 months. It rests on far more data about SAGRAS than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,805 companies, not a prediction for SAGRAS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 3.0 (5.02 in 2024), above the usual 1.5. Short-term debt is 15.2% and cash 33.5% of total assets. 41% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 6 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SAGRAS Jurbise | €70,127 | €1,910 | 59.0% | - |
| BYOS Evere | €66,580 | €2,672 | 51.0% | - |
| DANINICO Mons | €91,842 | €3,442 | 21.1% | - |
| TDC IMMO Mons | €49,188 | -€12,791 | -21.0% | - |
| SPIGA D'ORO Liège | €92,372 | €2,063 | 86.1% | - |
| RANIA Brussels | €69,181 | €2,878 | 63.8% | - |
| FRUN PARK ANS Bruges | €67,181 | -€65,579 | -1060.1% | - |
These companies have the same main activity as SAGRAS: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €49,200 and €92,400, founded between 2000 and 2011.
SAGRAS files the micro format. That format states no turnover. The gross margin fell from €31,473 in 2009 to €1,910 in 2025.
In November 2023, the Official Gazette published the appointment of GREGOIRE Brigitte as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €6,700. Estimated: probably between €2,600 and €15,000.
Higher than 72% of 17,190 companies in 2025.
Higher than 76% of 16,487 companies in 2025.
Higher than 9% of 16,866 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
70,127 | 80,133 | 85,917 | 42,661 | 50,781 | 71,793 | 80,546 | 83,631 | 86,210 | 89,742 | 109,587 | 75,528 | 83,226 | 47,430 | 59,060 | 67,373 | 75,992 | |
21/28 |
38,143 | 38,287 | 27,617 | 8,043 | 12,455 | 31,000 | 41,351 | 51,482 | 53,533 | 60,376 | 68,855 | 52,024 | 61,006 | 21,882 | 26,337 | 36,388 | 46,847 | |
21 |
16,000 | 18,000 | - | - | - | 19,200 | 26,500 | 33,800 | 41,100 | 48,400 | 59,700 | 49,000 | 59,000 | 19,000 | 24,000 | 30,000 | 37,500 | |
22/27 |
22,143 | 20,287 | 27,254 | 7,680 | 12,092 | 11,800 | 14,851 | 17,682 | 12,433 | 11,889 | 9,069 | 2,937 | 2,006 | 2,882 | 2,337 | 6,388 | 9,347 | |
23 |
10,080 | 4,580 | 7,848 | 6,832 | 10,943 | 8,874 | 12,929 | 14,837 | 8,266 | 6,400 | 7,869 | 1,337 | 2,006 | 2,674 | 1,869 | 5,608 | 9,347 | |
24 |
46 | 322 | 655 | 248 | 349 | 1,926 | 722 | 1,444 | 2,167 | 2,889 | - | - | - | - | - | - | - | |
26 |
12,018 | 15,384 | 18,751 | 600 | 800 | 1,000 | 1,200 | 1,400 | 2,000 | 2,600 | 1,200 | 1,600 | - | 208 | 468 | 780 | - | |
28 |
- | - | 363 | 363 | 363 | - | - | - | - | 87 | 87 | 87 | - | - | - | - | - | |
29/58 |
31,984 | 41,847 | 58,300 | 34,618 | 38,326 | 40,792 | 39,194 | 32,149 | 32,677 | 29,366 | 40,732 | 23,504 | 22,220 | 25,548 | 32,723 | 30,985 | 29,145 | |
40/41 |
1,500 | 12,037 | 36,000 | 2 | 4 | 14,108 | 9,863 | 8,890 | 7,502 | 2,755 | - | 2,314 | 2,257 | 6,881 | 20,426 | 14,830 | 15,216 | |
40 |
1,500 | 12,000 | 36,000 | - | - | 14,100 | 9,863 | 8,890 | 7,502 | 2,755 | - | - | - | 6,881 | 20,426 | 14,811 | 15,216 | |
41 |
0 | 37 | - | 2 | 4 | 8 | - | - | - | - | - | 2,314 | 2,257 | - | - | 19 | - | |
54/58 |
23,484 | 29,810 | 22,300 | 34,617 | 38,323 | 25,955 | 28,526 | 21,257 | 22,338 | 22,565 | 35,119 | 18,602 | 15,986 | 17,290 | 9,462 | 10,457 | 9,465 | |
490/1 |
7,000 | - | - | - | - | 730 | 806 | 2,002 | 2,838 | 4,047 | 5,613 | 2,588 | 3,977 | 1,377 | 2,835 | 5,698 | 4,464 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
70,127 | 80,133 | 85,917 | 42,661 | 50,781 | 71,793 | 80,546 | 83,631 | 86,210 | 89,742 | 109,587 | 75,528 | 83,226 | 47,430 | 59,060 | 67,373 | 75,992 | |
10/15 |
41,367 | 49,750 | 66,118 | 30,162 | 28,868 | 44,312 | 44,959 | 39,977 | 36,113 | 30,732 | 28,166 | 21,116 | 12,687 | 21,116 | 23,654 | 21,711 | 23,662 | |
10/11 |
20,460 | 20,460 | 20,460 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
20,907 | 29,290 | 45,658 | 11,562 | 10,268 | 25,712 | 26,359 | 21,377 | 17,513 | 12,132 | 9,566 | 2,516 | 2,516 | 2,516 | 5,054 | 3,111 | 5,062 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
20,907 | 29,290 | 45,658 | 9,702 | 8,408 | 23,852 | 24,499 | 19,517 | 15,653 | 10,272 | 7,706 | 656 | 656 | 656 | 3,194 | 1,251 | 3,202 | |
14 |
- | - | - | - | - | - | - | - | - | - | - | - | -8,429 | - | - | - | - | |
17/49 |
28,760 | 30,383 | 19,800 | 12,499 | 21,913 | 27,481 | 35,587 | 43,654 | 50,097 | 59,010 | 81,422 | 54,411 | 70,539 | 26,314 | 35,406 | 45,662 | 52,330 | |
17 |
18,109 | 22,041 | 8,550 | 8,550 | 8,787 | 11,527 | 14,090 | 14,020 | 26,019 | 37,573 | 49,126 | 34,557 | 41,778 | 14,107 | 21,699 | 29,292 | 29,686 | |
170/4 |
9,559 | 13,491 | - | - | 237 | 2,977 | 5,540 | 5,470 | 17,469 | 29,023 | 40,576 | 26,007 | 33,228 | 8,857 | 16,449 | 24,042 | 29,686 | |
178/9 |
8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 8,550 | 5,250 | 5,250 | 5,250 | - | |
42/48 |
10,651 | 8,343 | 11,250 | 3,949 | 13,127 | 15,954 | 21,046 | 29,634 | 23,611 | 21,437 | 32,295 | 19,854 | 28,761 | 12,207 | 13,707 | 16,370 | 22,644 | |
42 |
3,931 | 3,657 | - | 237 | 2,740 | 2,563 | 8,314 | 12,458 | 11,553 | 11,553 | 11,206 | 7,221 | 13,548 | 7,592 | 7,592 | 7,592 | 12,224 | |
44 |
328 | 41 | 1,209 | - | 5,976 | 4,879 | 3,361 | 9,026 | 3,077 | 836 | 336 | 4 | - | 276 | 392 | 225 | 3,795 | |
440/4 |
328 | 41 | 1,209 | - | 5,008 | 4,879 | 3,361 | 9,026 | 3,077 | 836 | 336 | 4 | - | 276 | 392 | 225 | 3,795 | |
441 |
- | - | - | - | 968 | - | - | - | - | - | - | - | - | - | - | - | - | |
46 |
- | - | - | - | - | - | - | - | - | - | 5,143 | 3,353 | 3,000 | - | - | - | - | |
45 |
1,312 | 3,522 | 8,919 | 2,589 | 3,159 | 7,261 | 8,734 | 7,513 | 8,344 | 6,811 | 7,224 | 5,236 | 5,213 | 3,600 | 3,422 | 4,591 | 4,280 | |
450/3 |
1,312 | 3,522 | 8,919 | 2,589 | 2,467 | 7,261 | 8,734 | 7,513 | 8,344 | 6,811 | 7,224 | 5,236 | 5,213 | 3,600 | 3,422 | 4,591 | 4,280 | |
454/9 |
- | - | - | - | 693 | - | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
5,080 | 1,122 | 1,122 | 1,123 | 1,251 | 1,251 | 637 | 637 | 637 | 2,237 | 8,387 | 4,040 | 7,000 | 739 | 2,301 | 3,962 | 2,345 | |
492/3 |
- | - | - | - | - | - | 450 | - | 467 | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||||
76A |
0 | 1,811 | 55,121 | 5,808 | 4,576 | - | - | - | - | - | - | 310 | - | - | - | - | - | |
9900 |
1,910 | -6,399 | 54,803 | 9,509 | 10,037 | 12,872 | 21,117 | 18,230 | 19,945 | 22,707 | 27,549 | 21,257 | 17,550 | 6,851 | 13,949 | 12,608 | 31,473 | |
62 |
- | - | 300 | 3,657 | 1,793 | - | - | - | - | 269 | 206 | 382 | - | - | - | - | - | |
630 |
9,189 | 8,967 | 5,732 | 4,412 | 4,030 | 12,773 | 12,566 | 12,478 | 10,233 | 14,091 | 14,169 | 11,068 | 10,876 | 7,797 | 10,051 | 11,759 | 21,847 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | 10,937 | - | - | - | - | |
640/8 |
- | - | - | - | 18 | 124 | 106 | 106 | 106 | - | 157 | - | 725 | - | - | 49 | - | |
66A |
0 | 42 | 6,241 | 0 | 19,317 | - | 22 | 13 | 12 | 116 | 150 | - | - | - | - | 801 | - | |
9901 |
-7,278 | -15,409 | 42,529 | 1,440 | -15,120 | -25 | 8,423 | 5,633 | 9,594 | 8,231 | 13,017 | 9,807 | -4,988 | -946 | 3,898 | 800 | 9,626 | |
75/76B |
283 | 123 | 49 | 5 | 8 | 15 | 15 | 15 | 29 | 34 | 57 | 113 | 114 | 134 | 148 | 130 | 169 | |
75 |
283 | 123 | 49 | 5 | 8 | 15 | 15 | 15 | 29 | 34 | 57 | 113 | 114 | 134 | 148 | 130 | 169 | |
65/66B |
1,386 | 1,199 | 85 | 154 | 334 | 637 | 1,190 | 1,109 | 1,464 | 1,998 | 1,584 | 1,800 | 3,566 | 1,720 | 2,081 | 2,125 | 3,223 | |
65 |
1,386 | 1,199 | 85 | 154 | 334 | 637 | 1,190 | 1,004 | 1,464 | 1,998 | 1,584 | 1,800 | 3,566 | 1,720 | 2,081 | 2,125 | 3,223 | |
66B |
- | - | - | - | - | - | - | 105 | - | - | - | - | - | - | - | - | - | |
9903 |
-8,382 | -16,485 | 42,493 | 1,291 | -15,446 | -647 | 7,248 | 4,540 | 8,159 | 6,267 | 11,340 | 8,430 | -8,440 | -2,532 | 1,965 | -1,996 | 6,572 | |
67/77 |
1 | -117 | 6,538 | -3 | -2 | - | 2,266 | 676 | 2,777 | 701 | 791 | - | -11 | 6 | 22 | -45 | 1,510 | |
9904 |
-8,383 | -16,368 | 35,956 | 1,294 | -15,444 | -647 | 4,982 | 3,863 | 5,382 | 5,566 | 10,549 | 8,430 | -8,429 | -2,538 | 1,943 | -1,951 | 5,062 | |
9905 |
-8,383 | -16,368 | 35,956 | 1,294 | -15,444 | -647 | 4,982 | 3,863 | 5,382 | 5,566 | 10,549 | 8,430 | -8,429 | -2,538 | 1,943 | -1,951 | 5,062 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
-8,383 | -16,368 | 35,956 | 1,294 | -15,444 | -647 | 4,982 | 3,863 | 5,382 | 5,566 | 10,549 | 1 | -8,429 | -2,538 | 1,943 | -1,951 | 5,062 | |
791/2 |
8,383 | 16,368 | - | - | 15,444 | 647 | - | - | - | - | - | - | - | 2,538 | - | 1,951 | - | |
691/2 |
- | - | 35,956 | 1,294 | - | - | 4,982 | 3,863 | 5,382 | 2,566 | 7,049 | 1 | - | - | 1,943 | - | 5,062 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | 35,956 | 1,294 | - | - | 4,982 | 3,863 | 5,382 | 2,566 | 7,049 | 1 | - | - | 1,943 | - | 3,202 | |
694/7 |
- | - | - | - | - | - | - | - | - | 3,000 | 3,500 | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | - | - | 3,000 | 3,500 | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 22-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00318076 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00150006 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00314271 | |
| 31-12-2022 | micro format | 24-07-2023 | 2023-00263229 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20357440 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25600004 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-43000589 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-43800541 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-37900515 | |
| 31-12-2016 | micro format | 26-06-2017 | 2017-21000328 | |
| 31-12-2015 | full format | 02-08-2016 | 2016-39700491 | |
| 31-12-2014 | full format | 29-06-2015 | 2015-23300475 | |
| 31-12-2013 | full format | 23-06-2014 | 2014-20800197 | |
| 31-12-2012 | full format | 03-07-2013 | 2013-25800347 | |
| 31-12-2011 | full format | 31-07-2012 | 2012-37500148 | |
| 31-12-2010 | full format | 12-07-2011 | 2011-30100128 | |
| 31-12-2009 | full format | 01-07-2010 | 2010-26100436 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,910 | -6,441 | 48,261 | 5,852 | -11,091 | 12,748 | 20,988 | 18,111 | 19,827 | 22,322 | 27,186 | 20,875 | 5,888 | 6,851 | 13,949 | 12,559 | 31,473 | ||
| 805 | -7,400 | 41,688 | 5,706 | -11,414 | 12,126 | 17,548 | 16,342 | 15,615 | 19,657 | 24,718 | 19,498 | 2,447 | 5,259 | 11,994 | 9,808 | 26,909 | ||
| 9,045 | 30,959 | 105,306 | 0 | 7,278 | 2,422 | 2,435 | 10,428 | 3,477 | 5,611 | 31,000 | 2,087 | 50,000 | 3,342 | 0 | 1,300 | 68,694 | ||
| -6,326 | 7,509 | -12,316 | -3,706 | 12,368 | -2,571 | 7,269 | -1,081 | -227 | -12,554 | 16,517 | 2,616 | -1,304 | 7,828 | -995 | 992 | - | ||
| 21,333 | 33,504 | 47,051 | 30,669 | 25,200 | 24,838 | 18,148 | 2,515 | 9,067 | 7,929 | 8,437 | 3,650 | -6,541 | 13,341 | 19,016 | 14,615 | 6,501 | ||
| 59.0% | 62.1% | 77.0% | 70.7% | 56.8% | 61.7% | 55.8% | 47.8% | 41.9% | 34.2% | 25.7% | 28.0% | 15.2% | 44.5% | 40.1% | 32.2% | 31.1% | ||
| 3.00 | 5.02 | 5.18 | 8.77 | 2.92 | 2.56 | 1.86 | 1.08 | 1.38 | 1.37 | 1.26 | 1.18 | 0.77 | 2.09 | 2.39 | 1.89 | 1.29 | ||
| 0.70 | 0.61 | 0.30 | 0.41 | 0.76 | 0.62 | 0.79 | 1.09 | 1.39 | 1.92 | 2.89 | 2.58 | 5.56 | 1.25 | 1.50 | 2.10 | 2.21 | ||
| -20.3% | -32.9% | 54.4% | 4.3% | -53.5% | -1.5% | 11.1% | 9.7% | 14.9% | 18.1% | 37.5% | 39.9% | -66.4% | -12.0% | 8.2% | -9.0% | 21.4% | ||
| -12.0% | -20.4% | 41.8% | 3.0% | -30.4% | -0.9% | 6.2% | 4.6% | 6.2% | 6.2% | 9.6% | 11.2% | -10.1% | -5.4% | 3.3% | -2.9% | 6.7% | ||
| 1.38 | -5.37 | over 100 | 38.02 | -33.21 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €9,045 | €10,959 | €25,306 | - | €6,915 |
| Intangible fixed assets | - | €20,000 | €80,000 | - | - |
| Financial fixed assets | €0 | - | - | - | €363 |
| €9,189 | €8,967 | €5,732 | €4,412 | €4,030 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €7,278, smaller than the loss of €15,409 in 2024.
Debt's share of the balance-sheet total rises from 37.9% to 41.0%. Equity and debt are lower.
SAGRAS has no parent and no holdings in its annual accounts. GREGOIRE Brigitte is the only director. SAGRAS shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Route d'Ath 402 registered office 7050 Jurbise | ||
| SAGRAS SPRL Rue de la Loi (L.L) 12, 7100 La Louvière 6811002 Buying and selling of own real estate | 13-10-2008 | 2.174.324.482 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 53044B0287/00F000 | 575 m² | 1 · 63 m² | 6.1 m · 2 |
| 55372D0031/00W003 | 120 m² | 1 · 124 m² | 20.6 m · 6 |
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