SAGAR: what changed
Two fiscal 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.
SAGAR
Largest movements
- Cash -€10,185
down €10,185 (-63.2%), from €16,129 to €5,943
mainly Other debts (-€13,718) and Receivables within one year (-€1,984)
- Tangible fixed assets -€3,048
down €3,048 (-65.2%), from €4,677 to €1,629
- Receivables within one year +€1,984
up €1,984 (+60.2%), from €3,294 to €5,277
- Other debts -€13,718
down €13,718 (-18.9%), from €72,624 to €58,906
- Profit (loss) carried forward +€1,547
up €1,547 (+2.8%), from -€56,125 to -€54,578
- Trade debts +€686
up €686 (+1057.2%), from €65 to €750
- Gross operating margin +€2,247
up €2,247 (+60.9%), from €3,688 to €5,935
- Financial charges -€65
down €65 (-20.5%), from €314 to €250
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 | €24,473 | €13,203 | -€11,270 | -46.1% |
| Fixed assets | 21/28 | €4,677 | €1,629 | -€3,048 | -65.2% |
| Tangible fixed assets | 22/27 | €4,677 | €1,629 | -€3,048 | -65.2% |
| Furniture and vehicles | 24 | €4,677 | €1,629 | -€3,048 | -65.2% |
| Current assets | 29/58 | €19,796 | €11,574 | -€8,221 | -41.5% |
| Amounts receivable within one year | 40/41 | €3,294 | €5,277 | +€1,984 | +60.2% |
| Trade receivables | 40 | €3,294 | €5,277 | +€1,984 | +60.2% |
| Cash at bank and in hand | 54/58 | €16,129 | €5,943 | -€10,185 | -63.2% |
| Deferred charges and accrued income | 490/1 | €373 | €353 | -€20 | -5.3% |
| Total equity and liabilities | 10/49 | €24,473 | €13,203 | -€11,270 | -46.1% |
| Equity | 10/15 | -€49,925 | -€48,378 | +€1,547 | +3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,125 | -€54,578 | +€1,547 | +2.8% |
| Amounts payable | 17/49 | €74,397 | €61,581 | -€12,816 | -17.2% |
| Amounts payable within one year | 42/48 | €74,397 | €61,581 | -€12,816 | -17.2% |
| Trade debts | 44 | €65 | €750 | +€686 | +1057.2% |
| Suppliers | 440/4 | €65 | €750 | +€686 | +1057.2% |
| Taxes, remuneration and social security | 45 | €1,708 | €1,924 | +€216 | +12.6% |
| Taxes | 450/3 | €1,708 | €1,924 | +€216 | +12.6% |
| Other amounts payable | 47/48 | €72,624 | €58,906 | -€13,718 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,048 | €3,048 | = | 0.0% |
| Other operating charges | 640/8 | €923 | €949 | +€26 | +2.8% |
| Gross operating margin | 9900 | €3,688 | €5,935 | +€2,247 | +60.9% |
| Operating profit (loss) | 9901 | -€284 | €1,937 | +€2,221 | |
| Financial charges | 65/66B | €314 | €250 | -€65 | -20.5% |
| Recurring financial charges | 65 | €314 | €250 | -€65 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | -€598 | €1,688 | +€2,285 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€737 | €1,547 | +€2,284 | |
| Profit (loss) for the period to be appropriated | 9905 | -€737 | €1,547 | +€2,284 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.