SAGIR: 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.
SAGIR
Largest movements
- Receivables within one year +€374,908
up €374,908 (+520%), from €72,166 to €447,074
of which Other amounts receivable: +€374,908
- Reserves +€242,058
up €242,058 (+12.0%), from €2.0m to €2.3m
- Other debts +€125,267
up €125,267 (+35.4%), from €353,572 to €478,838
- Financial income -€807,333
down €807,333 (-72.8%), from €1.1m to €302,280
- Gross operating margin +€327,570
up €327,570 (+250%), from €130,836 to €458,405
- Staff costs +€83,042
up €83,042 (+752,191%), from €11 to €83,053
- Taxes +€69,655
up €69,655 (+556%), from €12,527 to €82,182
- Depreciation -€9,308
down €9,308 (-60.7%), from €15,338 to €6,030
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.
Derived cash bridge
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 | €2,519,780 | €2,885,354 | +€365,574 | +14.5% |
| Fixed assets | 21/28 | €2,432,684 | €2,426,654 | -€6,030 | -0.2% |
| Tangible fixed assets | 22/27 | €399,233 | €393,203 | -€6,030 | -1.5% |
| Land and buildings | 22 | €15,000 | €15,000 | = | 0.0% |
| Furniture and vehicles | 24 | €6,030 | €0 | -€6,030 | -100% |
| Other tangible fixed assets | 26 | €378,203 | €378,203 | = | 0.0% |
| Financial fixed assets | 28 | €2,033,451 | €2,033,451 | = | 0.0% |
| Current assets | 29/58 | €87,096 | €458,700 | +€371,604 | +427% |
| Amounts receivable within one year | 40/41 | €72,166 | €447,074 | +€374,908 | +520% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €72,166 | €447,074 | +€374,908 | +520% |
| Cash at bank and in hand | 54/58 | €13,062 | €9,856 | -€3,205 | -24.5% |
| Deferred charges and accrued income | 490/1 | €1,869 | €1,770 | -€99 | -5.3% |
| Total equity and liabilities | 10/49 | €2,519,780 | €2,885,354 | +€365,574 | +14.5% |
| Equity | 10/15 | €2,031,306 | €2,273,364 | +€242,058 | +11.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,018,906 | €2,260,964 | +€242,058 | +12.0% |
| Distributable reserves | 133 | €2,018,906 | €2,260,964 | +€242,058 | +12.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €488,474 | €611,990 | +€123,516 | +25.3% |
| Amounts payable after more than one year | 17 | €90,443 | €67,955 | -€22,488 | -24.9% |
| Financial debts | 170/4 | €90,443 | €67,955 | -€22,488 | -24.9% |
| Amounts payable within one year | 42/48 | €398,031 | €544,036 | +€146,004 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €34,400 | €25,732 | -€8,668 | -25.2% |
| Trade debts | 44 | €2,914 | €8,309 | +€5,395 | +185% |
| Suppliers | 440/4 | €2,914 | €8,309 | +€5,395 | +185% |
| Taxes, remuneration and social security | 45 | €7,145 | €31,156 | +€24,011 | +336% |
| Taxes | 450/3 | €7,145 | €17,088 | +€9,943 | +139% |
| Remuneration and social security | 454/9 | - | €14,068 | +€14,068 | |
| Other amounts payable | 47/48 | €353,572 | €478,838 | +€125,267 | +35.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €11 | €83,053 | +€83,042 | +752,191% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,338 | €6,030 | -€9,308 | -60.7% |
| Other operating charges | 640/8 | €3,102 | €3,431 | +€329 | +10.6% |
| Gross operating margin | 9900 | €130,836 | €458,405 | +€327,570 | +250% |
| Operating profit (loss) | 9901 | €112,385 | €365,892 | +€253,507 | +226% |
| Financial income | 75/76B | €1,109,613 | €302,280 | -€807,333 | -72.8% |
| Recurring financial income | 75 | €1,109,613 | €302,280 | -€807,333 | -72.8% |
| Financial charges | 65/66B | €11,986 | €8,932 | -€3,054 | -25.5% |
| Recurring financial charges | 65 | €11,986 | €8,932 | -€3,054 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €1,210,012 | €659,240 | -€550,772 | -45.5% |
| Income taxes | 67/77 | €12,527 | €82,182 | +€69,655 | +556% |
| Profit (loss) for the period | 9904 | €1,197,485 | €577,058 | -€620,427 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,197,485 | €577,058 | -€620,427 | -51.8% |
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 14 October 2026 via checked.be.