SAGESIM: 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.
SAGESIM
Largest movements
- Cash -€76,664
down €76,664 (-70.3%), from €109,044 to €32,380
mainly Contributions, distributions and other (-€248,332) and Receivables within one year (-€3,195)
- Tangible fixed assets -€41,094
down €41,094 (-15.2%), from €269,718 to €228,624
of which Land and buildings: -€40,865
- Receivables after one year -€13,157
no longer reported in 2025 (was €13,157)
of which Trade receivables: -€12,828
- Reserves -€163,844
down €163,844 (-49.5%), from €330,783 to €166,939
of which Distributable reserves: -€163,844
- Contributions -€63,249
down €63,249 (-100.0%), from €63,250 to €1
- Trade debts +€61,117
up €61,117 (+2254.9%), from €2,710 to €63,827
of which Bills of exchange payable: +€63,249
- Debts after one year +€31,302
new in 2025: €31,302
- Profit (loss) carried forward +€5,256
up €5,256, from -€5,251 to €5
- Staff costs -€42,391
down €42,391 (-100.0%), from €42,391 to €0
- Depreciation +€41,289
up €41,289 (+1379.7%), from €2,993 to €44,282
- Gross operating margin +€24,851
up €24,851 (+46.6%), from €53,318 to €78,169
- Turnover +€24,684
up €24,684 (+26.8%), from €92,103 to €116,787
- Financial income -€2,897
down €2,897 (-99.0%), from €2,927 to €30
of which Financial income: -€2,897
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 | €391,919 | €264,199 | -€127,720 | -32.6% |
| Fixed assets | 21/28 | €269,718 | €228,624 | -€41,094 | -15.2% |
| Tangible fixed assets | 22/27 | €269,718 | €228,624 | -€41,094 | -15.2% |
| Land and buildings | 22 | €269,489 | €228,624 | -€40,865 | -15.2% |
| Furniture and vehicles | 24 | €229 | - | -€229 | |
| Current assets | 29/58 | €122,201 | €35,575 | -€86,626 | -70.9% |
| Amounts receivable after more than one year | 29 | €13,157 | - | -€13,157 | |
| Trade receivables | 290 | €12,828 | - | -€12,828 | |
| Other amounts receivable | 291 | €329 | - | -€329 | |
| Amounts receivable within one year | 40/41 | - | €3,195 | +€3,195 | |
| Other amounts receivable | 41 | - | €3,195 | +€3,195 | |
| Cash at bank and in hand | 54/58 | €109,044 | €32,380 | -€76,664 | -70.3% |
| Total equity and liabilities | 10/49 | €391,919 | €264,199 | -€127,720 | -32.6% |
| Equity | 10/15 | €388,782 | €166,946 | -€221,836 | -57.1% |
| Contributions | 10/11 | €63,250 | €1 | -€63,249 | -100.0% |
| Capital | 10 | €63,250 | €1 | -€63,249 | -100.0% |
| Issued capital | 100 | €63,250 | €1 | -€63,249 | -100.0% |
| Reserves | 13 | €330,783 | €166,939 | -€163,844 | -49.5% |
| Non-distributable reserves | 130/1 | €6,350 | €6,350 | = | 0.0% |
| Legal reserve | 130 | €6,350 | €6,350 | = | 0.0% |
| Distributable reserves | 133 | €324,433 | €160,589 | -€163,844 | -50.5% |
| Profit (loss) carried forward | 14 | -€5,251 | €5 | +€5,256 | |
| Amounts payable | 17/49 | €3,137 | €97,253 | +€94,116 | +3000.1% |
| Amounts payable after more than one year | 17 | - | €31,302 | +€31,302 | |
| Other amounts payable | 178/9 | - | €31,302 | +€31,302 | |
| Amounts payable within one year | 42/48 | €3,137 | €65,951 | +€62,814 | +2002.3% |
| Trade debts | 44 | €2,710 | €63,827 | +€61,117 | +2254.9% |
| Suppliers | 440/4 | €2,710 | €578 | -€2,132 | -78.7% |
| Bills of exchange payable | 441 | - | €63,249 | +€63,249 | |
| Taxes, remuneration and social security | 45 | €427 | €2,124 | +€1,697 | +397.7% |
| Taxes | 450/3 | €427 | €2,124 | +€1,697 | +397.7% |
| Turnover | 70 | €92,103 | €116,787 | +€24,684 | +26.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €38,785 | €38,618 | -€167 | -0.4% |
| Remuneration, social security and pensions | 62 | €42,391 | €0 | -€42,391 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,993 | €44,282 | +€41,289 | +1379.7% |
| Other operating charges | 640/8 | €4,792 | €5,001 | +€209 | +4.4% |
| Non-recurring operating charges | 66A | - | €84 | +€84 | |
| Gross operating margin | 9900 | €53,318 | €78,169 | +€24,851 | +46.6% |
| Operating profit (loss) | 9901 | €3,142 | €28,802 | +€25,661 | +816.8% |
| Financial income | 75/76B | €2,927 | €30 | -€2,897 | -99.0% |
| Recurring financial income | 75 | €2,927 | €30 | -€2,897 | -99.0% |
| Non-recurring financial income | 76B | €2,927 | €30 | -€2,897 | -99.0% |
| Financial charges | 65/66B | €105 | €213 | +€107 | +102.0% |
| Recurring financial charges | 65 | €105 | €213 | +€107 | +102.0% |
| Non-recurring financial charges | 66B | €105 | €213 | +€107 | +102.0% |
| Profit (loss) for the period before taxes | 9903 | €5,963 | €28,619 | +€22,656 | +379.9% |
| Income taxes | 67/77 | €2,164 | €2,124 | -€40 | -1.9% |
| Profit (loss) for the period | 9904 | €3,799 | €26,495 | +€22,696 | +597.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,799 | €26,495 | +€22,696 | +597.4% |
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 11 October 2026 via checked.be.