SARAMAGO: 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.
SARAMAGO
Largest movements
- Cash -€190,581
down €190,581 (-43.8%), from €435,198 to €244,617
mainly Contributions, distributions and other (-€115,043) and Receivables within one year (-€49,925)
- Receivables within one year +€49,925
up €49,925 (+182%), from €27,487 to €77,412
of which Other amounts receivable: +€49,925
- Financial fixed assets +€20,000
up €20,000 (+1.7%), from €1.2m to €1.2m
- Reserves -€91,934
down €91,934 (-8.1%), from €1.1m to €1.0m
- Debts after one year -€49,746
down €49,746 (-45.4%), from €109,606 to €59,859
- Financial income -€119,977
down €119,977 (-100%), from €119,977 to €0
- Taxes -€9,905
down €9,905 (-43.6%), from €22,696 to €12,791
- Financial charges -€2,899
down €2,899 (-9.8%), from €29,674 to €26,776
- Gross operating margin -€2,157
down €2,157 (-2.8%), from €77,095 to €74,938
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,684,203 | €1,552,895 | -€131,309 | -7.8% |
| Fixed assets | 21/28 | €1,221,518 | €1,230,865 | +€9,347 | +0.8% |
| Tangible fixed assets | 22/27 | €31,638 | €20,985 | -€10,653 | -33.7% |
| Furniture and vehicles | 24 | €31,638 | €20,985 | -€10,653 | -33.7% |
| Financial fixed assets | 28 | €1,189,880 | €1,209,880 | +€20,000 | +1.7% |
| Current assets | 29/58 | €462,685 | €322,030 | -€140,656 | -30.4% |
| Amounts receivable within one year | 40/41 | €27,487 | €77,412 | +€49,925 | +182% |
| Trade receivables | 40 | €15,125 | €15,125 | = | 0.0% |
| Other amounts receivable | 41 | €12,362 | €62,287 | +€49,925 | +404% |
| Cash at bank and in hand | 54/58 | €435,198 | €244,617 | -€190,581 | -43.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,684,203 | €1,552,895 | -€131,309 | -7.8% |
| Equity | 10/15 | €1,152,847 | €1,060,913 | -€91,934 | -8.0% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,140,347 | €1,048,413 | -€91,934 | -8.1% |
| Distributable reserves | 133 | €1,140,347 | €1,048,413 | -€91,934 | -8.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €531,357 | €491,982 | -€39,375 | -7.4% |
| Amounts payable after more than one year | 17 | €109,606 | €59,859 | -€49,746 | -45.4% |
| Financial debts | 170/4 | €109,606 | €59,859 | -€49,746 | -45.4% |
| Amounts payable within one year | 42/48 | €395,827 | €408,153 | +€12,327 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €48,852 | €49,746 | +€894 | +1.8% |
| Trade debts | 44 | €623 | €114 | -€508 | -81.7% |
| Suppliers | 440/4 | €623 | €114 | -€508 | -81.7% |
| Taxes, remuneration and social security | 45 | €3,875 | €3,875 | = | 0.0% |
| Taxes | 450/3 | €3,875 | €3,875 | = | 0.0% |
| Other amounts payable | 47/48 | €342,477 | €354,418 | +€11,941 | +3.5% |
| Accrued charges and deferred income | 492/3 | €25,925 | €23,969 | -€1,955 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,653 | €10,653 | = | 0.0% |
| Other operating charges | 640/8 | €1,389 | €1,608 | +€219 | +15.8% |
| Gross operating margin | 9900 | €77,095 | €74,938 | -€2,157 | -2.8% |
| Operating profit (loss) | 9901 | €65,053 | €62,677 | -€2,376 | -3.7% |
| Financial income | 75/76B | €119,977 | €0 | -€119,977 | -100% |
| Recurring financial income | 75 | €119,977 | €0 | -€119,977 | -100% |
| Financial charges | 65/66B | €29,674 | €26,776 | -€2,899 | -9.8% |
| Recurring financial charges | 65 | €29,674 | €26,776 | -€2,899 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €155,356 | €35,901 | -€119,455 | -76.9% |
| Income taxes | 67/77 | €22,696 | €12,791 | -€9,905 | -43.6% |
| Profit (loss) for the period | 9904 | €132,660 | €23,110 | -€109,551 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €132,660 | €23,110 | -€109,551 | -82.6% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.