SAGHAR: 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.
SAGHAR
Largest movements
- Stocks and contracts -€19,369
down €19,369 (-64.6%), from €29,997 to €10,628
- Receivables within one year +€11,968
up €11,968 (+44.9%), from €26,628 to €38,596
of which Trade receivables: +€10,354
- Cash -€6,723
down €6,723 (-54.8%), from €12,264 to €5,541
mainly Trade debts (-€22,589) and Other debts (-€20,027)
- Tangible fixed assets -€3,181
down €3,181 (-27.0%), from €11,777 to €8,596
of which Furniture and vehicles: -€2,236
- Profit (loss) carried forward +€26,034
up €26,034 (+40.1%), from -€64,845 to -€38,811
- Trade debts -€22,589
down €22,589 (-36.5%), from €61,896 to €39,308
- Other debts -€20,027
down €20,027 (-26.8%), from €74,770 to €54,744
- Tax, wage and social debts -€1,974
down €1,974 (-74.6%), from €2,644 to €670
of which Remuneration and social security: -€2,559
- Short-term financial debts +€1,250
new in 2024: €1,250
- Gross operating margin +€18,835
up €18,835 (+71.8%), from €26,237 to €45,072
- Staff costs -€4,878
down €4,878 (-66.8%), from €7,298 to €2,420
- Financial charges +€3,503
up €3,503 (+49.4%), from €7,095 to €10,598
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,666 | €63,361 | -€17,305 | -21.5% |
| Fixed assets | 21/28 | €11,777 | €8,596 | -€3,181 | -27.0% |
| Tangible fixed assets | 22/27 | €11,777 | €8,596 | -€3,181 | -27.0% |
| Plant, machinery and equipment | 23 | €5,541 | €4,596 | -€945 | -17.1% |
| Furniture and vehicles | 24 | €6,236 | €4,000 | -€2,236 | -35.9% |
| Current assets | 29/58 | €68,889 | €54,765 | -€14,124 | -20.5% |
| Stocks and contracts in progress | 3 | €29,997 | €10,628 | -€19,369 | -64.6% |
| Stocks | 30/36 | €29,997 | €10,628 | -€19,369 | -64.6% |
| Amounts receivable within one year | 40/41 | €26,628 | €38,596 | +€11,968 | +44.9% |
| Trade receivables | 40 | €4,034 | €14,389 | +€10,354 | +256.7% |
| Other amounts receivable | 41 | €22,593 | €24,207 | +€1,614 | +7.1% |
| Cash at bank and in hand | 54/58 | €12,264 | €5,541 | -€6,723 | -54.8% |
| Total equity and liabilities | 10/49 | €80,666 | €63,361 | -€17,305 | -21.5% |
| Equity | 10/15 | -€58,645 | -€32,611 | +€26,034 | +44.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,845 | -€38,811 | +€26,034 | +40.1% |
| Amounts payable | 17/49 | €139,311 | €95,972 | -€43,339 | -31.1% |
| Amounts payable within one year | 42/48 | €139,311 | €95,972 | -€43,339 | -31.1% |
| Financial debts | 43 | - | €1,250 | +€1,250 | |
| Credit institutions | 430/8 | - | €1,250 | +€1,250 | |
| Trade debts | 44 | €61,896 | €39,308 | -€22,589 | -36.5% |
| Suppliers | 440/4 | €61,896 | €39,308 | -€22,589 | -36.5% |
| Taxes, remuneration and social security | 45 | €2,644 | €670 | -€1,974 | -74.6% |
| Taxes | 450/3 | €86 | €670 | +€585 | +683.0% |
| Remuneration and social security | 454/9 | €2,559 | - | -€2,559 | |
| Other amounts payable | 47/48 | €74,770 | €54,744 | -€20,027 | -26.8% |
| Remuneration, social security and pensions | 62 | €7,298 | €2,420 | -€4,878 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,515 | €3,181 | -€334 | -9.5% |
| Other operating charges | 640/8 | €2,858 | €2,839 | -€19 | -0.7% |
| Gross operating margin | 9900 | €26,237 | €45,072 | +€18,835 | +71.8% |
| Operating profit (loss) | 9901 | €12,565 | €36,632 | +€24,067 | +191.5% |
| Financial income | 75/76B | €115 | - | -€115 | |
| Recurring financial income | 75 | €115 | - | -€115 | |
| Financial charges | 65/66B | €7,095 | €10,598 | +€3,503 | +49.4% |
| Recurring financial charges | 65 | €7,095 | €10,598 | +€3,503 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €5,586 | €26,034 | +€20,449 | +366.1% |
| Profit (loss) for the period | 9904 | €5,586 | €26,034 | +€20,449 | +366.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,586 | €26,034 | +€20,449 | +366.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.