SARIGA: 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.
SARIGA
Largest movements
- Tangible fixed assets +€82,548
up €82,548 (+3167.6%), from €2,606 to €85,154
of which Assets under construction and advance payments: +€80,176
- Financial fixed assets -€78,236
down €78,236 (-92.4%), from €84,626 to €6,390
- Receivables within one year -€24,820
down €24,820 (-78.5%), from €31,604 to €6,784
of which Trade receivables: -€30,853
- Profit (loss) carried forward -€42,727
down €42,727 (-9.4%), from -€455,768 to -€498,495
- Other debts +€34,399
up €34,399 (+48.5%), from €70,855 to €105,254
- Current portion of long-term debt -€24,929
no longer reported in 2025 (was €24,929)
- Short-term financial debts +€21,599
up €21,599 (+221.3%), from €9,762 to €31,361
- Provisions -€13,000
no longer reported in 2025 (was €13,000)
- Staff costs +€39,095
up €39,095 (+25.4%), from €153,793 to €192,888
- Gross operating margin +€20,049
up €20,049 (+14.3%), from €139,733 to €159,782
- Financial charges -€3,024
down €3,024 (-31.5%), from €9,595 to €6,571
of which Financial charges: -€3,023
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 | €284,980 | €261,011 | -€23,969 | -8.4% |
| Fixed assets | 21/28 | €237,232 | €241,544 | +€4,312 | +1.8% |
| Intangible fixed assets | 21 | €150,000 | €150,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,606 | €85,154 | +€82,548 | +3167.6% |
| Plant, machinery and equipment | 23 | €2,414 | €1,440 | -€974 | -40.3% |
| Furniture and vehicles | 24 | €192 | €3,538 | +€3,346 | +1742.7% |
| Assets under construction and advance payments | 27 | - | €80,176 | +€80,176 | |
| Financial fixed assets | 28 | €84,626 | €6,390 | -€78,236 | -92.4% |
| Current assets | 29/58 | €47,748 | €19,467 | -€28,281 | -59.2% |
| Stocks and contracts in progress | 3 | €5,712 | €4,101 | -€1,611 | -28.2% |
| Stocks | 30/36 | €5,712 | €4,101 | -€1,611 | -28.2% |
| Amounts receivable within one year | 40/41 | €31,604 | €6,784 | -€24,820 | -78.5% |
| Trade receivables | 40 | €30,853 | - | -€30,853 | |
| Other amounts receivable | 41 | €751 | €6,784 | +€6,033 | +803.3% |
| Cash at bank and in hand | 54/58 | €10,432 | €8,581 | -€1,851 | -17.7% |
| Deferred charges and accrued income | 490/1 | €0 | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €284,980 | €261,011 | -€23,969 | -8.4% |
| Equity | 10/15 | €41,232 | -€1,495 | -€42,727 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €285,000 | €285,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €285,000 | €285,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €285,000 | €285,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€455,768 | -€498,495 | -€42,727 | -9.4% |
| Provisions and deferred taxes | 16 | €13,000 | - | -€13,000 | |
| Provisions for liabilities and charges | 160/5 | €13,000 | - | -€13,000 | |
| Major repairs and maintenance | 162 | €13,000 | - | -€13,000 | |
| Amounts payable | 17/49 | €230,748 | €262,506 | +€31,758 | +13.8% |
| Amounts payable after more than one year | 17 | €25,110 | €25,110 | = | 0.0% |
| Financial debts | 170/4 | €25,110 | €25,110 | = | 0.0% |
| Amounts payable within one year | 42/48 | €205,638 | €237,396 | +€31,758 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €24,929 | - | -€24,929 | |
| Financial debts | 43 | €9,762 | €31,361 | +€21,599 | +221.3% |
| Credit institutions | 430/8 | €9,762 | €31,361 | +€21,599 | +221.3% |
| Trade debts | 44 | €49,163 | €41,714 | -€7,449 | -15.2% |
| Suppliers | 440/4 | €49,163 | €41,714 | -€7,449 | -15.2% |
| Taxes, remuneration and social security | 45 | €50,929 | €59,067 | +€8,138 | +16.0% |
| Taxes | 450/3 | €13,975 | €7,794 | -€6,181 | -44.2% |
| Remuneration and social security | 454/9 | €36,954 | €51,273 | +€14,319 | +38.7% |
| Other amounts payable | 47/48 | €70,855 | €105,254 | +€34,399 | +48.5% |
| Remuneration, social security and pensions | 62 | €153,793 | €192,888 | +€39,095 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,226 | €2,025 | -€201 | -9.0% |
| Other operating charges | 640/8 | €714 | €1,025 | +€311 | +43.6% |
| Gross operating margin | 9900 | €139,733 | €159,782 | +€20,049 | +14.3% |
| Operating profit (loss) | 9901 | -€17,000 | -€36,156 | -€19,156 | -112.7% |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €9,595 | €6,571 | -€3,024 | -31.5% |
| Recurring financial charges | 65 | €9,594 | €6,571 | -€3,023 | -31.5% |
| Non-recurring financial charges | 66B | €1 | - | -€1 | |
| Profit (loss) for the period before taxes | 9903 | -€26,579 | -€42,727 | -€16,148 | -60.8% |
| Profit (loss) for the period | 9904 | -€26,579 | -€42,727 | -€16,148 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,579 | -€42,727 | -€16,148 | -60.8% |
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 10 October 2026 via checked.be.