SAGAERT LEON: 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.
What changed
SAGAERT LEON
NACE 47.830, Retail sale of motorcycles and motorcycle parts and accessories
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€105,924
2024 · €115,215-€9,291
Equity
€839,600
2024 · €733,676+€105,924
Cash
€97,452
2024 · €68,286+€29,166
Balance sheet total
€2.4m
2024 · €3.6m-€1.2m
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-35.8%), from €2.8m to €1.8m
- Receivables within one year -€169,253
down €169,253 (-40.4%), from €419,313 to €250,060
of which Trade receivables: -€171,122
- Tangible fixed assets -€44,545
down €44,545 (-16.7%), from €266,267 to €221,722
of which Other tangible fixed assets: -€38,793
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-69.5%), from €1.7m to €523,992
- Reserves +€105,924
up €105,924 (+15.8%), from €671,676 to €777,600
of which Distributable reserves: +€105,924
- Debts after one year -€68,275
down €68,275 (-18.0%), from €378,576 to €310,301
of which Financial debts: -€68,275
Income statement
- Write-downs +€18,615
up €18,615 (+23.0%), from €80,763 to €99,378
- Depreciation -€17,860
down €17,860 (-23.4%), from €76,261 to €58,401
- Financial charges +€15,327
up €15,327 (+27.6%), from €55,532 to €70,859
- Staff costs -€12,253
down €12,253 (-7.7%), from €159,469 to €147,216
- Other operating charges -€7,996
down €7,996 (-41.9%), from €19,091 to €11,095
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.
Result 2024
€115,215
Gross operating margin
-€1,732
Staff costs
+€12,253
Depreciation
+€17,860
Write-downs
-€18,615
Other operating charges
+€7,996
Other operating items
-€16,922
Financial income
+€1,571
Financial charges
-€15,327
Taxes
+€3,626
Result 2025
€105,924
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€134,752
Investment
-€13,296
Financing
-€92,290
Cash 2024
€68,286
From operations (derived)
+€134,752
Net result for the year
+€105,924
Depreciation
+€58,401
Stocks and contracts
+€1.0m
Receivables within one year
+€169,253
Smaller working-capital items
-€849
Trade debts
-€1.2m
Tax, wage and social debts
-€20,226
Other debts
+€10,364
Accrued charges and deferred income
+€3,621
Investment (derived)
-€13,296
Investment in fixed assets (net)
-€13,296
Financing
-€92,290
Debts after one year
-€68,275
Current portion of long-term debt
+€235
Short-term financial debts
-€24,250
Cash 2025
€97,452
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,574,689 | €2,386,328 | -€1.2m | -33.2% |
| Fixed assets | 21/28 | €267,355 | €222,250 | -€45,105 | -16.9% |
| Intangible fixed assets | 21 | €1,088 | €528 | -€560 | -51.5% |
| Tangible fixed assets | 22/27 | €266,267 | €221,722 | -€44,545 | -16.7% |
| Land and buildings | 22 | €125,849 | €115,000 | -€10,849 | -8.6% |
| Plant, machinery and equipment | 23 | €26,946 | €18,560 | -€8,386 | -31.1% |
| Furniture and vehicles | 24 | €58,724 | €72,207 | +€13,483 | +23.0% |
| Other tangible fixed assets | 26 | €54,749 | €15,956 | -€38,793 | -70.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €3,307,334 | €2,164,078 | -€1.1m | -34.6% |
| Stocks and contracts in progress | 3 | €2,803,096 | €1,800,730 | -€1.0m | -35.8% |
| Stocks | 30/36 | €2,803,096 | €1,800,730 | -€1.0m | -35.8% |
| Amounts receivable within one year | 40/41 | €419,313 | €250,060 | -€169,253 | -40.4% |
| Trade receivables | 40 | €392,557 | €221,435 | -€171,122 | -43.6% |
| Other amounts receivable | 41 | €26,756 | €28,625 | +€1,869 | +7.0% |
| Cash at bank and in hand | 54/58 | €68,286 | €97,452 | +€29,166 | +42.7% |
| Deferred charges and accrued income | 490/1 | €16,639 | €15,835 | -€803 | -4.8% |
| Total equity and liabilities | 10/49 | €3,574,689 | €2,386,328 | -€1.2m | -33.2% |
| Equity | 10/15 | €733,676 | €839,600 | +€105,924 | +14.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €671,676 | €777,600 | +€105,924 | +15.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €176 | €176 | = | 0.0% |
| Distributable reserves | 133 | €665,301 | €771,224 | +€105,924 | +15.9% |
| Amounts payable | 17/49 | €2,841,013 | €1,546,728 | -€1.3m | -45.6% |
| Amounts payable after more than one year | 17 | €378,576 | €310,301 | -€68,275 | -18.0% |
| Financial debts | 170/4 | €225,576 | €157,301 | -€68,275 | -30.3% |
| Other amounts payable | 178/9 | €153,000 | €153,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,461,663 | €1,232,031 | -€1.2m | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €68,040 | €68,275 | +€235 | +0.3% |
| Financial debts | 43 | €474,250 | €450,000 | -€24,250 | -5.1% |
| Credit institutions | 430/8 | €474,250 | €450,000 | -€24,250 | -5.1% |
| Trade debts | 44 | €1,718,094 | €523,992 | -€1.2m | -69.5% |
| Suppliers | 440/4 | €1,718,094 | €523,992 | -€1.2m | -69.5% |
| Advances received on contracts in progress | 46 | €1,851 | €199 | -€1,653 | -89.3% |
| Taxes, remuneration and social security | 45 | €131,279 | €111,053 | -€20,226 | -15.4% |
| Taxes | 450/3 | €105,181 | €89,092 | -€16,089 | -15.3% |
| Remuneration and social security | 454/9 | €26,098 | €21,961 | -€4,137 | -15.9% |
| Other amounts payable | 47/48 | €68,148 | €78,512 | +€10,364 | +15.2% |
| Accrued charges and deferred income | 492/3 | €774 | €4,396 | +€3,621 | +468% |
| Non-recurring operating income | 76A | €19,067 | €25,471 | +€6,404 | +33.6% |
| Remuneration, social security and pensions | 62 | €159,469 | €147,216 | -€12,253 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,261 | €58,401 | -€17,860 | -23.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €80,763 | €99,378 | +€18,615 | +23.0% |
| Other operating charges | 640/8 | €19,091 | €11,095 | -€7,996 | -41.9% |
| Non-recurring operating charges | 66A | €0 | €16,922 | +€16,922 | |
| Gross operating margin | 9900 | €545,347 | €543,615 | -€1,732 | -0.3% |
| Operating profit (loss) | 9901 | €209,764 | €210,603 | +€839 | +0.4% |
| Financial income | 75/76B | €983 | €2,554 | +€1,571 | +160% |
| Recurring financial income | 75 | €983 | €2,554 | +€1,571 | +160% |
| Financial charges | 65/66B | €55,532 | €70,859 | +€15,327 | +27.6% |
| Recurring financial charges | 65 | €55,532 | €70,859 | +€15,327 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €155,215 | €142,298 | -€12,917 | -8.3% |
| Income taxes | 67/77 | €40,000 | €36,375 | -€3,626 | -9.1% |
| Profit (loss) for the period | 9904 | €115,215 | €105,924 | -€9,291 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €115,215 | €105,924 | -€9,291 | -8.1% |
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.