SARAH & GEORGIA: what changed
SARAH & GEORGIA
Largest movements
- Stocks and contracts -€886
down €886 (-12.2%), from €7,260 to €6,374
- Deferred charges and accrued income -€609
no longer reported in 2025 (was €609)
- Cash +€572
up €572 (+14.9%), from €3,838 to €4,411
mainly Debts after one year (+€102,000) and Tax, wage and social debts (+€3,911)
- Receivables within one year +€148
up €148 (+55.7%), from €266 to €414
of which Trade receivables: +€397
- Debts after one year +€102,000
new in 2025: €102,000
- Other debts -€78,882
down €78,882 (-71.7%), from €110,052 to €31,170
- Profit (loss) carried forward -€25,304
down €25,304 (-16.8%), from -€151,053 to -€176,357
- Tax, wage and social debts +€3,911
up €3,911 (+24.0%), from €16,270 to €20,181
of which Remuneration and social security: +€4,366
- Trade debts -€2,799
down €2,799 (-79.8%), from €3,509 to €710
- Staff costs +€5,483
up €5,483 (+20.5%), from €26,783 to €32,267
- Gross operating margin +€681
up €681 (+7.4%), from €9,159 to €9,841
- Financial charges +€609
up €609 (+36.3%), from €1,678 to €2,287
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,022 | €11,249 | -€773 | -6.4% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €11,972 | €11,199 | -€773 | -6.5% |
| Stocks and contracts in progress | 3 | €7,260 | €6,374 | -€886 | -12.2% |
| Stocks | 30/36 | €7,260 | €6,374 | -€886 | -12.2% |
| Amounts receivable within one year | 40/41 | €266 | €414 | +€148 | +55.7% |
| Trade receivables | 40 | - | €397 | +€397 | |
| Other amounts receivable | 41 | €266 | €18 | -€248 | -93.4% |
| Cash at bank and in hand | 54/58 | €3,838 | €4,411 | +€572 | +14.9% |
| Deferred charges and accrued income | 490/1 | €609 | - | -€609 | |
| Total equity and liabilities | 10/49 | €12,022 | €11,249 | -€773 | -6.4% |
| Equity | 10/15 | -€130,593 | -€155,897 | -€25,304 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,053 | -€176,357 | -€25,304 | -16.8% |
| Amounts payable | 17/49 | €142,615 | €167,146 | +€24,531 | +17.2% |
| Amounts payable after more than one year | 17 | - | €102,000 | +€102,000 | |
| Other amounts payable | 178/9 | - | €102,000 | +€102,000 | |
| Amounts payable within one year | 42/48 | €142,615 | €65,146 | -€77,469 | -54.3% |
| Financial debts | 43 | €12,784 | €12,605 | -€179 | -1.4% |
| Credit institutions | 430/8 | €12,784 | €12,605 | -€179 | -1.4% |
| Trade debts | 44 | €3,509 | €710 | -€2,799 | -79.8% |
| Suppliers | 440/4 | €3,509 | €710 | -€2,799 | -79.8% |
| Advances received on contracts in progress | 46 | - | €480 | +€480 | |
| Taxes, remuneration and social security | 45 | €16,270 | €20,181 | +€3,911 | +24.0% |
| Taxes | 450/3 | €779 | €324 | -€455 | -58.4% |
| Remuneration and social security | 454/9 | €15,491 | €19,857 | +€4,366 | +28.2% |
| Other amounts payable | 47/48 | €110,052 | €31,170 | -€78,882 | -71.7% |
| Remuneration, social security and pensions | 62 | €26,783 | €32,267 | +€5,483 | +20.5% |
| Other operating charges | 640/8 | €558 | €592 | +€33 | +6.0% |
| Gross operating margin | 9900 | €9,159 | €9,841 | +€681 | +7.4% |
| Operating profit (loss) | 9901 | -€18,182 | -€23,018 | -€4,836 | -26.6% |
| Financial charges | 65/66B | €1,678 | €2,287 | +€609 | +36.3% |
| Recurring financial charges | 65 | €1,678 | €2,287 | +€609 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,860 | -€25,304 | -€5,444 | -27.4% |
| Profit (loss) for the period | 9904 | -€19,860 | -€25,304 | -€5,444 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,860 | -€25,304 | -€5,444 | -27.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.