SO SAGA: 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.
SO SAGA
Largest movements
- Receivables within one year +€28,306
up €28,306 (+84.5%), from €33,508 to €61,814
of which Trade receivables: +€28,666
- Cash +€25,714
up €25,714 (+90.4%), from €28,444 to €54,158
mainly Depreciation (+€41,812) and Trade debts (+€41,298)
- Intangible fixed assets -€18,535
down €18,535 (-14.5%), from €127,814 to €109,279
- Tangible fixed assets -€4,187
down €4,187 (-4.6%), from €91,244 to €87,057
of which Other tangible fixed assets: -€9,660
- Trade debts +€41,298
up €41,298 (+90.7%), from €45,543 to €86,840
- Current portion of long-term debt -€12,888
down €12,888 (-78.4%), from €16,430 to €3,542
- Tax, wage and social debts +€4,618
up €4,618 (+6.5%), from €70,534 to €75,151
of which Remuneration and social security: +€6,042
- Debts after one year -€3,542
down €3,542 (-12.4%), from €28,542 to €25,000
- Gross operating margin -€51,266
down €51,266 (-11.1%), from €462,432 to €411,165
- Staff costs -€46,897
down €46,897 (-12.1%), from €389,042 to €342,145
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 | €310,401 | €342,926 | +€32,525 | +10.5% |
| Fixed assets | 21/28 | €219,208 | €196,487 | -€22,722 | -10.4% |
| Intangible fixed assets | 21 | €127,814 | €109,279 | -€18,535 | -14.5% |
| Tangible fixed assets | 22/27 | €91,244 | €87,057 | -€4,187 | -4.6% |
| Plant, machinery and equipment | 23 | €16,951 | €17,729 | +€779 | +4.6% |
| Furniture and vehicles | 24 | €2,918 | €7,613 | +€4,695 | +161% |
| Other tangible fixed assets | 26 | €71,376 | €61,715 | -€9,660 | -13.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €91,193 | €146,440 | +€55,247 | +60.6% |
| Stocks and contracts in progress | 3 | €25,811 | €27,472 | +€1,661 | +6.4% |
| Stocks | 30/36 | €25,811 | €27,472 | +€1,661 | +6.4% |
| Amounts receivable within one year | 40/41 | €33,508 | €61,814 | +€28,306 | +84.5% |
| Trade receivables | 40 | €32,647 | €61,314 | +€28,666 | +87.8% |
| Other amounts receivable | 41 | €860 | €500 | -€360 | -41.9% |
| Cash at bank and in hand | 54/58 | €28,444 | €54,158 | +€25,714 | +90.4% |
| Deferred charges and accrued income | 490/1 | €3,431 | €2,996 | -€434 | -12.7% |
| Total equity and liabilities | 10/49 | €310,401 | €342,926 | +€32,525 | +10.5% |
| Equity | 10/15 | €67,811 | €68,643 | +€832 | +1.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,189 | -€131,357 | +€832 | +0.6% |
| Amounts payable | 17/49 | €242,591 | €274,283 | +€31,693 | +13.1% |
| Amounts payable after more than one year | 17 | €28,542 | €25,000 | -€3,542 | -12.4% |
| Financial debts | 170/4 | €28,542 | €25,000 | -€3,542 | -12.4% |
| Amounts payable within one year | 42/48 | €214,041 | €249,196 | +€35,155 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €16,430 | €3,542 | -€12,888 | -78.4% |
| Financial debts | 43 | €9,535 | €8,662 | -€873 | -9.2% |
| Credit institutions | 430/8 | €9,535 | €8,662 | -€873 | -9.2% |
| Trade debts | 44 | €45,543 | €86,840 | +€41,298 | +90.7% |
| Suppliers | 440/4 | €45,543 | €86,840 | +€41,298 | +90.7% |
| Taxes, remuneration and social security | 45 | €70,534 | €75,151 | +€4,618 | +6.5% |
| Taxes | 450/3 | €32,666 | €31,242 | -€1,424 | -4.4% |
| Remuneration and social security | 454/9 | €37,867 | €43,909 | +€6,042 | +16.0% |
| Other amounts payable | 47/48 | €72,000 | €75,000 | +€3,000 | +4.2% |
| Accrued charges and deferred income | 492/3 | €7 | €88 | +€81 | +1,128% |
| Remuneration, social security and pensions | 62 | €389,042 | €342,145 | -€46,897 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,140 | €41,812 | -€328 | -0.8% |
| Other operating charges | 640/8 | €13,914 | €13,889 | -€26 | -0.2% |
| Gross operating margin | 9900 | €462,432 | €411,165 | -€51,266 | -11.1% |
| Operating profit (loss) | 9901 | €17,335 | €13,320 | -€4,015 | -23.2% |
| Financial income | 75/76B | €2,023 | - | -€2,023 | |
| Recurring financial income | 75 | €2,023 | - | -€2,023 | |
| Financial charges | 65/66B | €15,115 | €12,298 | -€2,818 | -18.6% |
| Recurring financial charges | 65 | €15,115 | €12,298 | -€2,818 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €4,243 | €1,022 | -€3,221 | -75.9% |
| Income taxes | 67/77 | €160 | €190 | +€29 | +18.4% |
| Profit (loss) for the period | 9904 | €4,083 | €832 | -€3,250 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,083 | €832 | -€3,250 | -79.6% |
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 17 October 2026 via checked.be.