SAG IMMO: 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.
SAG IMMO
Largest movements
- Tangible fixed assets -€51,723
down €51,723 (-17.5%), from €295,651 to €243,928
of which Land and buildings: -€37,938
- Receivables within one year +€15,110
up €15,110 (+55.5%), from €27,217 to €42,327
of which Other amounts receivable: +€14,462
- Deferred charges and accrued income +€10,366
new in 2025: €10,366
- Cash +€6,080
up €6,080 (+2.4%), from €251,636 to €257,716
mainly Net result for the year (+€63,954) and Depreciation (+€51,723)
- Reserves -€36,046
down €36,046 (-10.2%), from €352,995 to €316,949
of which Distributable reserves: -€36,046
- Tax, wage and social debts +€22,471
up €22,471 (+512.7%), from €4,383 to €26,854
- Trade debts -€6,592
down €6,592 (-33.5%), from €19,697 to €13,105
- Other operating charges +€36,676
up €36,676 (+255.8%), from €14,340 to €51,016
- Taxes -€6,641
down €6,641 (-21.4%), from €31,083 to €24,442
- Depreciation -€4,547
down €4,547 (-8.1%), from €56,270 to €51,723
- Financial charges +€3,478
up €3,478 (+720.1%), from €483 to €3,961
- Gross operating margin +€2,410
up €2,410 (+1.3%), from €192,625 to €195,035
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 | €574,504 | €554,337 | -€20,167 | -3.5% |
| Fixed assets | 21/28 | €295,651 | €243,928 | -€51,723 | -17.5% |
| Tangible fixed assets | 22/27 | €295,651 | €243,928 | -€51,723 | -17.5% |
| Land and buildings | 22 | €180,510 | €142,572 | -€37,938 | -21.0% |
| Plant, machinery and equipment | 23 | €55,142 | €41,356 | -€13,785 | -25.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €278,853 | €310,409 | +€31,556 | +11.3% |
| Amounts receivable within one year | 40/41 | €27,217 | €42,327 | +€15,110 | +55.5% |
| Trade receivables | 40 | €19,300 | €19,948 | +€648 | +3.4% |
| Other amounts receivable | 41 | €7,917 | €22,379 | +€14,462 | +182.7% |
| Cash at bank and in hand | 54/58 | €251,636 | €257,716 | +€6,080 | +2.4% |
| Deferred charges and accrued income | 490/1 | - | €10,366 | +€10,366 | |
| Total equity and liabilities | 10/49 | €574,504 | €554,337 | -€20,167 | -3.5% |
| Equity | 10/15 | €425,424 | €389,378 | -€36,046 | -8.5% |
| Contributions | 10/11 | €72,429 | €72,429 | = | 0.0% |
| Reserves | 13 | €352,995 | €316,949 | -€36,046 | -10.2% |
| Tax-exempt reserves | 132 | €17,489 | €17,489 | = | 0.0% |
| Distributable reserves | 133 | €335,506 | €299,460 | -€36,046 | -10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,080 | €164,959 | +€15,879 | +10.7% |
| Amounts payable within one year | 42/48 | €149,080 | €164,959 | +€15,879 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €19,697 | €13,105 | -€6,592 | -33.5% |
| Suppliers | 440/4 | €19,697 | €13,105 | -€6,592 | -33.5% |
| Taxes, remuneration and social security | 45 | €4,383 | €26,854 | +€22,471 | +512.7% |
| Taxes | 450/3 | €4,383 | €26,854 | +€22,471 | +512.7% |
| Other amounts payable | 47/48 | €125,000 | €125,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,270 | €51,723 | -€4,547 | -8.1% |
| Other operating charges | 640/8 | €14,340 | €51,016 | +€36,676 | +255.8% |
| Gross operating margin | 9900 | €192,625 | €195,035 | +€2,410 | +1.3% |
| Operating profit (loss) | 9901 | €122,015 | €92,296 | -€29,719 | -24.4% |
| Financial income | 75/76B | €20 | €60 | +€41 | +202.8% |
| Recurring financial income | 75 | €20 | €60 | +€41 | +202.8% |
| Financial charges | 65/66B | €483 | €3,961 | +€3,478 | +720.1% |
| Recurring financial charges | 65 | €483 | €3,961 | +€3,478 | +720.1% |
| Profit (loss) for the period before taxes | 9903 | €121,552 | €88,396 | -€33,156 | -27.3% |
| Income taxes | 67/77 | €31,083 | €24,442 | -€6,641 | -21.4% |
| Profit (loss) for the period | 9904 | €90,469 | €63,954 | -€26,515 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,469 | €63,954 | -€26,515 | -29.3% |
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 10 October 2026 via checked.be.