DE SAEGHER: 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.
DE SAEGHER
Largest movements
- Cash +€19,788
up €19,788 (+23.9%), from €82,683 to €102,471
mainly Net result for the year (+€14,726) and Depreciation (+€7,757)
- Tangible fixed assets -€6,806
down €6,806 (-24.0%), from €28,345 to €21,539
of which Furniture and vehicles: -€6,728
- Receivables within one year +€2,629
up €2,629 (+12.0%), from €21,854 to €24,483
of which Trade receivables: +€2,815
- Reserves +€14,726
up €14,726 (+12.8%), from €115,476 to €130,201
- Gross operating margin -€3,508
down €3,508 (-10.3%), from €33,981 to €30,473
- Taxes -€1,283
down €1,283 (-16.0%), from €8,016 to €6,733
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 | €136,303 | €152,836 | +€16,534 | +12.1% |
| Fixed assets | 21/28 | €28,345 | €21,539 | -€6,806 | -24.0% |
| Tangible fixed assets | 22/27 | €28,345 | €21,539 | -€6,806 | -24.0% |
| Plant, machinery and equipment | 23 | €859 | €781 | -€78 | -9.1% |
| Furniture and vehicles | 24 | €27,486 | €20,758 | -€6,728 | -24.5% |
| Current assets | 29/58 | €107,958 | €131,298 | +€23,339 | +21.6% |
| Stocks and contracts in progress | 3 | €718 | €1,886 | +€1,168 | +163% |
| Stocks | 30/36 | €718 | €1,886 | +€1,168 | +163% |
| Amounts receivable within one year | 40/41 | €21,854 | €24,483 | +€2,629 | +12.0% |
| Trade receivables | 40 | €15,498 | €18,314 | +€2,815 | +18.2% |
| Other amounts receivable | 41 | €6,356 | €6,170 | -€186 | -2.9% |
| Cash at bank and in hand | 54/58 | €82,683 | €102,471 | +€19,788 | +23.9% |
| Deferred charges and accrued income | 490/1 | €2,703 | €2,458 | -€245 | -9.1% |
| Total equity and liabilities | 10/49 | €136,303 | €152,836 | +€16,534 | +12.1% |
| Equity | 10/15 | €134,076 | €148,801 | +€14,726 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,476 | €130,201 | +€14,726 | +12.8% |
| Distributable reserves | 133 | €115,476 | €130,201 | +€14,726 | +12.8% |
| Amounts payable | 17/49 | €2,227 | €4,035 | +€1,808 | +81.2% |
| Amounts payable within one year | 42/48 | €2,227 | €4,035 | +€1,808 | +81.2% |
| Trade debts | 44 | €1,829 | €3,052 | +€1,222 | +66.8% |
| Suppliers | 440/4 | €1,829 | €3,052 | +€1,222 | +66.8% |
| Other amounts payable | 47/48 | €398 | €984 | +€586 | +147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,643 | €7,757 | +€114 | +1.5% |
| Other operating charges | 640/8 | €1,555 | €1,584 | +€30 | +1.9% |
| Gross operating margin | 9900 | €33,981 | €30,473 | -€3,508 | -10.3% |
| Operating profit (loss) | 9901 | €24,783 | €21,132 | -€3,651 | -14.7% |
| Financial income | 75/76B | €316 | €427 | +€111 | +35.2% |
| Recurring financial income | 75 | €316 | €427 | +€111 | +35.2% |
| Financial charges | 65/66B | €48 | €100 | +€53 | +111% |
| Recurring financial charges | 65 | €48 | €100 | +€53 | +111% |
| Profit (loss) for the period before taxes | 9903 | €25,051 | €21,458 | -€3,593 | -14.3% |
| Income taxes | 67/77 | €8,016 | €6,733 | -€1,283 | -16.0% |
| Profit (loss) for the period | 9904 | €17,036 | €14,726 | -€2,310 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,036 | €14,726 | -€2,310 | -13.6% |
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 14 October 2026 via checked.be.