SAGA II: 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.
SAGA II
Largest movements
- Cash +€350,548
up €350,548 (+278%), from €126,089 to €476,637
mainly Current investments (+€350,000) and Tax, wage and social debts (+€69,156)
- Current investments -€350,000
down €350,000 (-87.5%), from €400,018 to €50,018
- Receivables within one year +€91,221
up €91,221 (+99.1%), from €92,062 to €183,283
of which Trade receivables: +€58,056
- Tangible fixed assets -€38,202
down €38,202 (-4.1%), from €934,653 to €896,451
of which Land and buildings: -€32,878
- Debts after one year -€70,838
down €70,838 (-14.4%), from €492,267 to €421,429
- Tax, wage and social debts +€69,156
up €69,156 (+1,742%), from €3,969 to €73,125
- Reserves +€40,020
up €40,020 (+6.4%), from €624,413 to €664,433
of which Distributable reserves: +€200,000
- Profit (loss) carried forward +€19,041
up €19,041 (+5.8%), from €328,332 to €347,373
- Taxes +€23,023
up €23,023 (+92.6%), from €24,852 to €47,875
- Financial income +€10,598
up €10,598 (+172%), from €6,163 to €16,761
- Gross operating margin -€3,382
down €3,382 (-2.2%), from €152,310 to €148,928
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 | €1,553,154 | €1,607,969 | +€54,815 | +3.5% |
| Fixed assets | 21/28 | €934,653 | €896,451 | -€38,202 | -4.1% |
| Tangible fixed assets | 22/27 | €934,653 | €896,451 | -€38,202 | -4.1% |
| Land and buildings | 22 | €923,257 | €890,379 | -€32,878 | -3.6% |
| Plant, machinery and equipment | 23 | €1,532 | €444 | -€1,088 | -71.0% |
| Furniture and vehicles | 24 | €9,864 | €5,628 | -€4,236 | -42.9% |
| Current assets | 29/58 | €618,501 | €711,518 | +€93,017 | +15.0% |
| Amounts receivable within one year | 40/41 | €92,062 | €183,283 | +€91,221 | +99.1% |
| Trade receivables | 40 | €39,299 | €97,355 | +€58,056 | +148% |
| Other amounts receivable | 41 | €52,763 | €85,928 | +€33,165 | +62.9% |
| Current investments | 50/53 | €400,018 | €50,018 | -€350,000 | -87.5% |
| Cash at bank and in hand | 54/58 | €126,089 | €476,637 | +€350,548 | +278% |
| Deferred charges and accrued income | 490/1 | €332 | €1,581 | +€1,249 | +376% |
| Total equity and liabilities | 10/49 | €1,553,154 | €1,607,969 | +€54,815 | +3.5% |
| Equity | 10/15 | €965,145 | €1,024,206 | +€59,061 | +6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €624,413 | €664,433 | +€40,020 | +6.4% |
| Non-distributable reserves | 130/1 | €4,916 | €4,916 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,916 | €4,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €234,497 | €74,517 | -€159,980 | -68.2% |
| Distributable reserves | 133 | €385,000 | €585,000 | +€200,000 | +51.9% |
| Profit (loss) carried forward | 14 | €328,332 | €347,373 | +€19,041 | +5.8% |
| Amounts payable | 17/49 | €588,009 | €583,763 | -€4,246 | -0.7% |
| Amounts payable after more than one year | 17 | €492,267 | €421,429 | -€70,838 | -14.4% |
| Financial debts | 170/4 | €492,267 | €421,429 | -€70,838 | -14.4% |
| Amounts payable within one year | 42/48 | €89,952 | €151,838 | +€61,886 | +68.8% |
| Current portion of amounts payable after more than one year | 42 | €71,391 | €71,589 | +€198 | +0.3% |
| Trade debts | 44 | €5,024 | €7,125 | +€2,101 | +41.8% |
| Suppliers | 440/4 | €5,024 | €7,125 | +€2,101 | +41.8% |
| Taxes, remuneration and social security | 45 | €3,969 | €73,125 | +€69,156 | +1,742% |
| Taxes | 450/3 | €3,969 | €73,125 | +€69,156 | +1,742% |
| Other amounts payable | 47/48 | €9,568 | - | -€9,568 | |
| Accrued charges and deferred income | 492/3 | €5,790 | €10,496 | +€4,706 | +81.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,962 | €38,202 | -€760 | -2.0% |
| Other operating charges | 640/8 | €8,857 | €10,370 | +€1,513 | +17.1% |
| Gross operating margin | 9900 | €152,310 | €148,928 | -€3,382 | -2.2% |
| Operating profit (loss) | 9901 | €104,491 | €100,356 | -€4,135 | -4.0% |
| Financial income | 75/76B | €6,163 | €16,761 | +€10,598 | +172% |
| Recurring financial income | 75 | €6,163 | €16,761 | +€10,598 | +172% |
| Financial charges | 65/66B | €11,449 | €10,181 | -€1,268 | -11.1% |
| Recurring financial charges | 65 | €11,449 | €10,181 | -€1,268 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €99,205 | €106,936 | +€7,731 | +7.8% |
| Income taxes | 67/77 | €24,852 | €47,875 | +€23,023 | +92.6% |
| Profit (loss) for the period | 9904 | €74,353 | €59,061 | -€15,292 | -20.6% |
| Transfer from tax-exempt reserves | 789 | - | €159,980 | +€159,980 | |
| Transfer to tax-exempt reserves | 689 | €36,627 | - | -€36,627 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,726 | €219,041 | +€181,315 | +481% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.