SADEGO: 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.
SADEGO
Largest movements
- Receivables within one year +€47,007
up €47,007 (+17.6%), from €266,801 to €313,807
- Cash -€8,581
down €8,581 (-40.1%), from €21,412 to €12,831
mainly Receivables within one year (-€47,007) and Deferred charges and accrued income (-€5,946)
- Deferred charges and accrued income +€5,946
up €5,946 (+36.7%), from €16,218 to €22,164
- Reserves +€75,110
up €75,110 (+40.5%), from €185,520 to €260,629
of which Distributable reserves: +€75,110
- Profit (loss) carried forward -€29,486
down €29,486 (-39.3%), from €75,110 to €45,624
- Tax, wage and social debts -€5,685
down €5,685 (-32.0%), from €17,751 to €12,066
- Gross operating margin -€35,215
down €35,215 (-39.6%), from €89,001 to €53,786
- Taxes -€4,678
down €4,678 (-22.1%), from €21,167 to €16,489
- Financial income +€3,403
up €3,403 (+24.5%), from €13,907 to €17,309
- Financial charges +€2,212
up €2,212 (+42.5%), from €5,203 to €7,415
of which Financial charges: +€2,157
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 | €306,140 | €349,577 | +€43,437 | +14.2% |
| Fixed assets | 21/28 | €1,709 | €774 | -€935 | -54.7% |
| Tangible fixed assets | 22/27 | €1,709 | €774 | -€935 | -54.7% |
| Plant, machinery and equipment | 23 | €1,709 | €774 | -€935 | -54.7% |
| Current assets | 29/58 | €304,431 | €348,803 | +€44,372 | +14.6% |
| Amounts receivable within one year | 40/41 | €266,801 | €313,807 | +€47,007 | +17.6% |
| Other amounts receivable | 41 | €266,801 | €313,807 | +€47,007 | +17.6% |
| Cash at bank and in hand | 54/58 | €21,412 | €12,831 | -€8,581 | -40.1% |
| Deferred charges and accrued income | 490/1 | €16,218 | €22,164 | +€5,946 | +36.7% |
| Total equity and liabilities | 10/49 | €306,140 | €349,577 | +€43,437 | +14.2% |
| Equity | 10/15 | €279,179 | €324,803 | +€45,624 | +16.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €185,520 | €260,629 | +€75,110 | +40.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €183,665 | €258,774 | +€75,110 | +40.9% |
| Profit (loss) carried forward | 14 | €75,110 | €45,624 | -€29,486 | -39.3% |
| Amounts payable | 17/49 | €26,960 | €24,774 | -€2,187 | -8.1% |
| Amounts payable within one year | 42/48 | €26,960 | €23,775 | -€3,186 | -11.8% |
| Financial debts | 43 | €6,782 | €6,793 | +€11 | +0.2% |
| Credit institutions | 430/8 | €6,782 | €6,793 | +€11 | +0.2% |
| Trade debts | 44 | €2,427 | €4,916 | +€2,488 | +103% |
| Suppliers | 440/4 | €2,427 | €4,916 | +€2,488 | +103% |
| Taxes, remuneration and social security | 45 | €17,751 | €12,066 | -€5,685 | -32.0% |
| Taxes | 450/3 | €17,751 | €12,066 | -€5,685 | -32.0% |
| Accrued charges and deferred income | 492/3 | - | €999 | +€999 | |
| Remuneration, social security and pensions | 62 | - | €168 | +€168 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €935 | €935 | = | 0.0% |
| Other operating charges | 640/8 | €494 | €465 | -€28 | -5.7% |
| Gross operating margin | 9900 | €89,001 | €53,786 | -€35,215 | -39.6% |
| Operating profit (loss) | 9901 | €87,573 | €52,218 | -€35,355 | -40.4% |
| Financial income | 75/76B | €13,907 | €17,309 | +€3,403 | +24.5% |
| Recurring financial income | 75 | €13,907 | €17,309 | +€3,403 | +24.5% |
| Financial charges | 65/66B | €5,203 | €7,415 | +€2,212 | +42.5% |
| Recurring financial charges | 65 | €5,203 | €7,360 | +€2,157 | +41.5% |
| Non-recurring financial charges | 66B | - | €55 | +€55 | |
| Profit (loss) for the period before taxes | 9903 | €96,276 | €62,113 | -€34,164 | -35.5% |
| Income taxes | 67/77 | €21,167 | €16,489 | -€4,678 | -22.1% |
| Profit (loss) for the period | 9904 | €75,110 | €45,624 | -€29,486 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,110 | €45,624 | -€29,486 | -39.3% |
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 15 October 2026 via checked.be.