SADAGO: 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.
SADAGO
Largest movements
- Current investments +€202,532
up €202,532 (+122.3%), from €165,580 to €368,112
- Cash -€159,171
down €159,171 (-72.7%), from €218,926 to €59,756
mainly Current investments (-€202,532) and Receivables within one year (-€2,016)
- Tangible fixed assets -€7,098
down €7,098 (-7.3%), from €97,065 to €89,967
- Profit (loss) carried forward +€33,337
up €33,337 (+34.5%), from €96,686 to €130,023
- Other debts +€6,049
up €6,049 (+4.4%), from €135,971 to €142,020
- Gross operating margin -€9,659
down €9,659 (-12.7%), from €76,212 to €66,553
- Taxes -€2,531
down €2,531 (-18.5%), from €13,643 to €11,112
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 | €481,572 | €519,851 | +€38,279 | +7.9% |
| Fixed assets | 21/28 | €97,065 | €89,967 | -€7,098 | -7.3% |
| Tangible fixed assets | 22/27 | €97,065 | €89,967 | -€7,098 | -7.3% |
| Land and buildings | 22 | €97,065 | €89,967 | -€7,098 | -7.3% |
| Current assets | 29/58 | €384,507 | €429,884 | +€45,377 | +11.8% |
| Amounts receivable within one year | 40/41 | - | €2,016 | +€2,016 | |
| Other amounts receivable | 41 | - | €2,016 | +€2,016 | |
| Current investments | 50/53 | €165,580 | €368,112 | +€202,532 | +122.3% |
| Cash at bank and in hand | 54/58 | €218,926 | €59,756 | -€159,171 | -72.7% |
| Total equity and liabilities | 10/49 | €481,572 | €519,851 | +€38,279 | +7.9% |
| Equity | 10/15 | €340,067 | €373,404 | +€33,337 | +9.8% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €200,000 | €200,000 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,686 | €130,023 | +€33,337 | +34.5% |
| Amounts payable | 17/49 | €141,505 | €146,446 | +€4,941 | +3.5% |
| Amounts payable within one year | 42/48 | €138,660 | €144,446 | +€5,786 | +4.2% |
| Taxes, remuneration and social security | 45 | €2,689 | €2,426 | -€263 | -9.8% |
| Taxes | 450/3 | €2,689 | €2,426 | -€263 | -9.8% |
| Other amounts payable | 47/48 | €135,971 | €142,020 | +€6,049 | +4.4% |
| Accrued charges and deferred income | 492/3 | €2,845 | €2,000 | -€845 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,098 | €7,098 | = | 0.0% |
| Other operating charges | 640/8 | €8,740 | €9,472 | +€732 | +8.4% |
| Gross operating margin | 9900 | €76,212 | €66,553 | -€9,659 | -12.7% |
| Operating profit (loss) | 9901 | €60,374 | €49,983 | -€10,391 | -17.2% |
| Financial income | 75/76B | €4,056 | €3,799 | -€257 | -6.3% |
| Recurring financial income | 75 | €4,056 | €3,799 | -€257 | -6.3% |
| Financial charges | 65/66B | €9,858 | €9,332 | -€526 | -5.3% |
| Recurring financial charges | 65 | €9,858 | €9,332 | -€526 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €54,572 | €44,450 | -€10,122 | -18.5% |
| Income taxes | 67/77 | €13,643 | €11,112 | -€2,531 | -18.5% |
| Profit (loss) for the period | 9904 | €40,929 | €33,337 | -€7,592 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,929 | €33,337 | -€7,592 | -18.5% |
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 4 October 2026 via checked.be.