SAGINACE: 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.
SAGINACE
Largest movements
- Tangible fixed assets -€20,335
down €20,335 (-2.2%), from €920,886 to €900,551
of which Leasing and similar rights: -€18,757
- Cash +€15,888
up €15,888 (+163.1%), from €9,741 to €25,630
mainly Depreciation (+€65,870) and Current portion of long-term debt (+€26,007)
- Receivables within one year -€13,035
no longer reported in 2025 (was €13,035)
- Current portion of long-term debt +€26,007
up €26,007 (+77.7%), from €33,459 to €59,466
- Debts after one year -€19,277
down €19,277 (-4.0%), from €483,386 to €464,109
- Short-term financial debts -€18,340
no longer reported in 2025 (was €18,340)
- Gross operating margin +€21,481
up €21,481 (+17.6%), from €122,043 to €143,524
- Depreciation +€20,716
up €20,716 (+45.9%), from €45,154 to €65,870
- Financial charges +€1,994
up €1,994 (+8.0%), from €25,031 to €27,025
- Staff costs -€1,450
down €1,450 (-3.4%), from €42,912 to €41,461
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 | €975,843 | €959,548 | -€16,295 | -1.7% |
| Fixed assets | 21/28 | €925,545 | €900,551 | -€24,994 | -2.7% |
| Tangible fixed assets | 22/27 | €920,886 | €900,551 | -€20,335 | -2.2% |
| Land and buildings | 22 | €692,361 | €692,059 | -€301 | 0.0% |
| Plant, machinery and equipment | 23 | €33,858 | €44,129 | +€10,271 | +30.3% |
| Furniture and vehicles | 24 | €553 | €6,097 | +€5,544 | +1002.9% |
| Leasing and similar rights | 25 | €96,912 | €78,155 | -€18,757 | -19.4% |
| Other tangible fixed assets | 26 | €97,202 | €80,111 | -€17,091 | -17.6% |
| Financial fixed assets | 28 | €4,659 | - | -€4,659 | |
| Current assets | 29/58 | €50,298 | €58,998 | +€8,699 | +17.3% |
| Stocks and contracts in progress | 3 | €15,159 | €13,648 | -€1,511 | -10.0% |
| Stocks | 30/36 | €15,159 | €13,648 | -€1,511 | -10.0% |
| Amounts receivable within one year | 40/41 | €13,035 | - | -€13,035 | |
| Other amounts receivable | 41 | €13,035 | - | -€13,035 | |
| Cash at bank and in hand | 54/58 | €9,741 | €25,630 | +€15,888 | +163.1% |
| Deferred charges and accrued income | 490/1 | €12,364 | €19,721 | +€7,357 | +59.5% |
| Total equity and liabilities | 10/49 | €975,843 | €959,548 | -€16,295 | -1.7% |
| Equity | 10/15 | €42,029 | €42,442 | +€412 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,429 | €23,842 | +€412 | +1.8% |
| Distributable reserves | 133 | €23,429 | €23,842 | +€412 | +1.8% |
| Amounts payable | 17/49 | €933,814 | €917,107 | -€16,707 | -1.8% |
| Amounts payable after more than one year | 17 | €483,386 | €464,109 | -€19,277 | -4.0% |
| Financial debts | 170/4 | €483,386 | €464,109 | -€19,277 | -4.0% |
| Amounts payable within one year | 42/48 | €450,427 | €446,747 | -€3,680 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €33,459 | €59,466 | +€26,007 | +77.7% |
| Financial debts | 43 | €18,340 | - | -€18,340 | |
| Credit institutions | 430/8 | €18,340 | - | -€18,340 | |
| Trade debts | 44 | €64,186 | €68,387 | +€4,201 | +6.5% |
| Suppliers | 440/4 | €64,186 | €68,387 | +€4,201 | +6.5% |
| Taxes, remuneration and social security | 45 | €25,201 | €16,990 | -€8,210 | -32.6% |
| Taxes | 450/3 | €20,940 | €12,366 | -€8,574 | -40.9% |
| Remuneration and social security | 454/9 | €4,260 | €4,624 | +€364 | +8.5% |
| Other amounts payable | 47/48 | €309,242 | €301,904 | -€7,338 | -2.4% |
| Accrued charges and deferred income | 492/3 | - | €6,250 | +€6,250 | |
| Remuneration, social security and pensions | 62 | €42,912 | €41,461 | -€1,450 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,154 | €65,870 | +€20,716 | +45.9% |
| Other operating charges | 640/8 | €7,036 | €8,330 | +€1,294 | +18.4% |
| Gross operating margin | 9900 | €122,043 | €143,524 | +€21,481 | +17.6% |
| Operating profit (loss) | 9901 | €26,942 | €27,863 | +€921 | +3.4% |
| Financial income | 75/76B | €77 | €20 | -€57 | -74.0% |
| Recurring financial income | 75 | €77 | €20 | -€57 | -74.0% |
| Financial charges | 65/66B | €25,031 | €27,025 | +€1,994 | +8.0% |
| Recurring financial charges | 65 | €25,031 | €27,025 | +€1,994 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €1,988 | €858 | -€1,129 | -56.8% |
| Income taxes | 67/77 | €1,009 | €446 | -€563 | -55.8% |
| Profit (loss) for the period | 9904 | €979 | €412 | -€566 | -57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €979 | €412 | -€566 | -57.9% |
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 10 October 2026 via checked.be.