Sagas: 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.
Sagas
Largest movements
- Cash -€37,947
down €37,947 (-60.5%), from €62,731 to €24,784
mainly Trade debts (-€14,427) and Tax, wage and social debts (-€10,261)
- Receivables within one year +€5,960
up €5,960 (+16.1%), from €37,103 to €43,063
of which Other amounts receivable: +€18,048
- Deferred charges and accrued income +€5,373
up €5,373 (+3337.8%), from €161 to €5,534
- Tangible fixed assets -€5,073
down €5,073 (-26.0%), from €19,527 to €14,455
of which Furniture and vehicles: -€4,569
- Trade debts -€14,427
down €14,427 (-39.5%), from €36,489 to €22,062
- Tax, wage and social debts -€10,261
down €10,261 (-49.3%), from €20,805 to €10,544
of which Taxes: -€9,240
- Debts after one year -€5,117
down €5,117 (-48.8%), from €10,492 to €5,375
- Other debts -€2,363
down €2,363 (-6.9%), from €34,365 to €32,002
- Gross operating margin -€42,533
down €42,533 (-41.6%), from €102,184 to €59,651
- Taxes -€11,391
down €11,391 (-81.8%), from €13,926 to €2,535
- Staff costs +€1,677
up €1,677 (+3.5%), from €48,422 to €50,099
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 | €119,522 | €87,836 | -€31,686 | -26.5% |
| Fixed assets | 21/28 | €19,527 | €14,455 | -€5,073 | -26.0% |
| Tangible fixed assets | 22/27 | €19,527 | €14,455 | -€5,073 | -26.0% |
| Plant, machinery and equipment | 23 | €1,302 | €799 | -€504 | -38.7% |
| Furniture and vehicles | 24 | €18,225 | €13,656 | -€4,569 | -25.1% |
| Current assets | 29/58 | €99,995 | €73,381 | -€26,613 | -26.6% |
| Amounts receivable within one year | 40/41 | €37,103 | €43,063 | +€5,960 | +16.1% |
| Trade receivables | 40 | €37,103 | €25,015 | -€12,088 | -32.6% |
| Other amounts receivable | 41 | - | €18,048 | +€18,048 | |
| Cash at bank and in hand | 54/58 | €62,731 | €24,784 | -€37,947 | -60.5% |
| Deferred charges and accrued income | 490/1 | €161 | €5,534 | +€5,373 | +3337.8% |
| Total equity and liabilities | 10/49 | €119,522 | €87,836 | -€31,686 | -26.5% |
| Equity | 10/15 | €12,500 | €12,737 | +€237 | +1.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €237 | +€237 | |
| Amounts payable | 17/49 | €107,022 | €75,100 | -€31,922 | -29.8% |
| Amounts payable after more than one year | 17 | €10,492 | €5,375 | -€5,117 | -48.8% |
| Financial debts | 170/4 | €10,492 | €5,375 | -€5,117 | -48.8% |
| Amounts payable within one year | 42/48 | €96,530 | €69,724 | -€26,805 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €4,871 | €5,117 | +€246 | +5.1% |
| Trade debts | 44 | €36,489 | €22,062 | -€14,427 | -39.5% |
| Suppliers | 440/4 | €36,489 | €22,062 | -€14,427 | -39.5% |
| Taxes, remuneration and social security | 45 | €20,805 | €10,544 | -€10,261 | -49.3% |
| Taxes | 450/3 | €13,165 | €3,926 | -€9,240 | -70.2% |
| Remuneration and social security | 454/9 | €7,639 | €6,618 | -€1,022 | -13.4% |
| Other amounts payable | 47/48 | €34,365 | €32,002 | -€2,363 | -6.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €48,422 | €50,099 | +€1,677 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,778 | €5,073 | +€295 | +6.2% |
| Other operating charges | 640/8 | €306 | €644 | +€337 | +110.0% |
| Gross operating margin | 9900 | €102,184 | €59,651 | -€42,533 | -41.6% |
| Operating profit (loss) | 9901 | €48,677 | €3,836 | -€44,842 | -92.1% |
| Financial charges | 65/66B | €1,132 | €1,064 | -€67 | -6.0% |
| Recurring financial charges | 65 | €1,132 | €1,064 | -€67 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €47,546 | €2,771 | -€44,774 | -94.2% |
| Income taxes | 67/77 | €13,926 | €2,535 | -€11,391 | -81.8% |
| Profit (loss) for the period | 9904 | €33,620 | €237 | -€33,383 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,620 | €237 | -€33,383 | -99.3% |
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 4 October 2026 via checked.be.