SARTGES: what changed
Two fiscal 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.
SARTGES
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€80,146
up €80,146 (+111.3%), from €72,013 to €152,159
mainly Current investments (+€100,000) and Net result for the year (+€14,617)
- Receivables within one year +€29,627
up €29,627 (+37.4%), from €79,194 to €108,821
of which Trade receivables: +€33,959
- Other debts +€8,066
up €8,066 (+38.1%), from €21,159 to €29,224
- Trade debts +€6,411
up €6,411 (+125.4%), from €5,113 to €11,524
- Profit (loss) carried forward -€5,383
down €5,383 (-10.3%), from €52,378 to €46,995
- Gross operating margin -€6,159
down €6,159 (-24.6%), from €25,023 to €18,864
- Financial income -€2,049
down €2,049 (-60.5%), from €3,386 to €1,337
- Taxes -€1,825
down €1,825 (-27.3%), from €6,697 to €4,872
- Other operating charges -€718
down €718 (-64.2%), from €1,118 to €400
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 | €252,206 | €262,374 | +€10,168 | +4.0% |
| Current assets | 29/58 | €252,206 | €262,374 | +€10,168 | +4.0% |
| Amounts receivable within one year | 40/41 | €79,194 | €108,821 | +€29,627 | +37.4% |
| Trade receivables | 40 | €44,005 | €77,964 | +€33,959 | +77.2% |
| Other amounts receivable | 41 | €35,190 | €30,857 | -€4,332 | -12.3% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €72,013 | €152,159 | +€80,146 | +111.3% |
| Deferred charges and accrued income | 490/1 | €999 | €1,394 | +€396 | +39.6% |
| Total equity and liabilities | 10/49 | €252,206 | €262,374 | +€10,168 | +4.0% |
| Equity | 10/15 | €225,578 | €220,195 | -€5,383 | -2.4% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €61,200 | €61,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,200 | €11,200 | = | 0.0% |
| Legal reserve | 130 | €11,200 | €11,200 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,378 | €46,995 | -€5,383 | -10.3% |
| Amounts payable | 17/49 | €26,628 | €42,180 | +€15,551 | +58.4% |
| Amounts payable within one year | 42/48 | €26,272 | €42,000 | +€15,728 | +59.9% |
| Trade debts | 44 | €5,113 | €11,524 | +€6,411 | +125.4% |
| Suppliers | 440/4 | €5,113 | €11,524 | +€6,411 | +125.4% |
| Taxes, remuneration and social security | 45 | - | €1,252 | +€1,252 | |
| Taxes | 450/3 | - | €1,252 | +€1,252 | |
| Other amounts payable | 47/48 | €21,159 | €29,224 | +€8,066 | +38.1% |
| Accrued charges and deferred income | 492/3 | €357 | €180 | -€177 | -49.6% |
| Other operating charges | 640/8 | €1,118 | €400 | -€718 | -64.2% |
| Gross operating margin | 9900 | €25,023 | €18,864 | -€6,159 | -24.6% |
| Operating profit (loss) | 9901 | €23,905 | €18,464 | -€5,441 | -22.8% |
| Financial income | 75/76B | €3,386 | €1,337 | -€2,049 | -60.5% |
| Recurring financial income | 75 | €3,386 | €1,337 | -€2,049 | -60.5% |
| Financial charges | 65/66B | €285 | €312 | +€27 | +9.6% |
| Recurring financial charges | 65 | €285 | €312 | +€27 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €27,006 | €19,489 | -€7,517 | -27.8% |
| Income taxes | 67/77 | €6,697 | €4,872 | -€1,825 | -27.3% |
| Profit (loss) for the period | 9904 | €20,309 | €14,617 | -€5,692 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,309 | €14,617 | -€5,692 | -28.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.