SAGAFÉ: 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.
SAGAFÉ
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€22,552
down €22,552 (-12.3%), from €182,840 to €160,288
of which Financial debts: -€22,552
- Other debts +€14,427
up €14,427 (+3.5%), from €409,537 to €423,963
- Current portion of long-term debt +€10,467
up €10,467 (+47.1%), from €22,216 to €32,683
- Gross operating margin -€302
down €302 (-26.3%), from -€1,146 to -€1,448
- Financial charges -€246
down €246 (-17.4%), from €1,417 to €1,171
- Other operating charges +€63
up €63 (+16.1%), from €387 to €450
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,031 | €600,034 | +€3 | 0.0% |
| Fixed assets | 21/28 | €600,000 | €600,000 | = | 0.0% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €31 | €34 | +€3 | +9.3% |
| Deferred charges and accrued income | 490/1 | €31 | €34 | +€3 | +9.3% |
| Total equity and liabilities | 10/49 | €600,031 | €600,034 | +€3 | 0.0% |
| Equity | 10/15 | -€14,997 | -€18,065 | -€3,068 | -20.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,997 | -€20,065 | -€3,068 | -18.1% |
| Amounts payable | 17/49 | €615,028 | €618,099 | +€3,071 | +0.5% |
| Amounts payable after more than one year | 17 | €182,840 | €160,288 | -€22,552 | -12.3% |
| Financial debts | 170/4 | €62,840 | €40,288 | -€22,552 | -35.9% |
| Other amounts payable | 178/9 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €432,188 | €457,811 | +€25,623 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €22,216 | €32,683 | +€10,467 | +47.1% |
| Trade debts | 44 | €435 | €1,164 | +€729 | +167% |
| Suppliers | 440/4 | €435 | €1,164 | +€729 | +167% |
| Other amounts payable | 47/48 | €409,537 | €423,963 | +€14,427 | +3.5% |
| Other operating charges | 640/8 | €387 | €450 | +€63 | +16.1% |
| Gross operating margin | 9900 | -€1,146 | -€1,448 | -€302 | -26.3% |
| Operating profit (loss) | 9901 | -€1,534 | -€1,898 | -€364 | -23.7% |
| Financial charges | 65/66B | €1,417 | €1,171 | -€246 | -17.4% |
| Recurring financial charges | 65 | €1,417 | €1,171 | -€246 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,950 | -€3,068 | -€118 | -4.0% |
| Profit (loss) for the period | 9904 | -€2,950 | -€3,068 | -€118 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,950 | -€3,068 | -€118 | -4.0% |
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.