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
- Receivables within one year +€16,226
up €16,226 (+294%), from €5,515 to €21,741
of which Trade receivables: +€17,680
- Cash -€6,969
down €6,969 (-69.5%), from €10,026 to €3,057
mainly Receivables within one year (-€16,226) and Trade debts (-€4,694)
- Deferred charges and accrued income -€2,282
down €2,282 (-41.5%), from €5,503 to €3,222
- Tangible fixed assets -€2,255
down €2,255 (-59.4%), from €3,795 to €1,540
of which Plant, machinery and equipment: -€1,495
- Stocks and contracts +€1,170
up €1,170 (+22.0%), from €5,322 to €6,492
of which Contracts in progress: +€1,170
- Profit (loss) carried forward +€17,656
up €17,656 (+29.4%), from -€60,113 to -€42,457
- Trade debts -€4,694
down €4,694 (-63.7%), from €7,371 to €2,678
- Other debts -€3,661
down €3,661 (-96.7%), from €3,787 to €127
- Current portion of long-term debt -€3,441
down €3,441 (-100%), from €3,441 to €0
- Gross operating margin +€27,748
up €27,748, from -€5,705 to €22,043
- Other operating charges -€4,351
down €4,351 (-76.5%), from €5,688 to €1,337
- Taxes +€404
up €404 (+186%), from €217 to €620
- Financial charges -€233
down €233 (-56.4%), from €413 to €180
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 | €30,161 | €36,052 | +€5,890 | +19.5% |
| Fixed assets | 21/28 | €3,795 | €1,540 | -€2,255 | -59.4% |
| Tangible fixed assets | 22/27 | €3,795 | €1,540 | -€2,255 | -59.4% |
| Plant, machinery and equipment | 23 | €2,708 | €1,213 | -€1,495 | -55.2% |
| Furniture and vehicles | 24 | €1,087 | €327 | -€760 | -69.9% |
| Current assets | 29/58 | €26,367 | €34,511 | +€8,145 | +30.9% |
| Stocks and contracts in progress | 3 | €5,322 | €6,492 | +€1,170 | +22.0% |
| Stocks | 30/36 | €2,257 | €2,257 | = | 0.0% |
| Contracts in progress | 37 | €3,065 | €4,235 | +€1,170 | +38.2% |
| Amounts receivable within one year | 40/41 | €5,515 | €21,741 | +€16,226 | +294% |
| Trade receivables | 40 | €2,875 | €20,555 | +€17,680 | +615% |
| Other amounts receivable | 41 | €2,640 | €1,186 | -€1,454 | -55.1% |
| Cash at bank and in hand | 54/58 | €10,026 | €3,057 | -€6,969 | -69.5% |
| Deferred charges and accrued income | 490/1 | €5,503 | €3,222 | -€2,282 | -41.5% |
| Total equity and liabilities | 10/49 | €30,161 | €36,052 | +€5,890 | +19.5% |
| Equity | 10/15 | -€50,113 | -€32,457 | +€17,656 | +35.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,113 | -€42,457 | +€17,656 | +29.4% |
| Amounts payable | 17/49 | €80,274 | €68,508 | -€11,766 | -14.7% |
| Amounts payable after more than one year | 17 | €65,000 | €65,000 | = | 0.0% |
| Financial debts | 170/4 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,274 | €3,508 | -€11,766 | -77.0% |
| Current portion of amounts payable after more than one year | 42 | €3,441 | €0 | -€3,441 | -100% |
| Trade debts | 44 | €7,371 | €2,678 | -€4,694 | -63.7% |
| Suppliers | 440/4 | €7,371 | €2,678 | -€4,694 | -63.7% |
| Taxes, remuneration and social security | 45 | €675 | €704 | +€29 | +4.3% |
| Taxes | 450/3 | €675 | €704 | +€29 | +4.3% |
| Other amounts payable | 47/48 | €3,787 | €127 | -€3,661 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,255 | €2,255 | = | 0.0% |
| Other operating charges | 640/8 | €5,688 | €1,337 | -€4,351 | -76.5% |
| Gross operating margin | 9900 | -€5,705 | €22,043 | +€27,748 | |
| Operating profit (loss) | 9901 | -€13,648 | €18,451 | +€32,099 | |
| Financial income | 75/76B | €26 | €5 | -€20 | -79.2% |
| Recurring financial income | 75 | €26 | €5 | -€20 | -79.2% |
| Financial charges | 65/66B | €413 | €180 | -€233 | -56.4% |
| Recurring financial charges | 65 | €413 | €180 | -€233 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,036 | €18,276 | +€32,312 | |
| Income taxes | 67/77 | €217 | €620 | +€404 | +186% |
| Profit (loss) for the period | 9904 | -€14,252 | €17,656 | +€31,908 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,252 | €17,656 | +€31,908 |
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 20 October 2026 via checked.be.