SARGO: 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.
SARGO
Largest movements
- Receivables within one year -€92,108
down €92,108 (-26.9%), from €342,974 to €250,866
of which Trade receivables: -€74,104
- Stocks and contracts -€21,075
down €21,075 (-67.4%), from €31,250 to €10,175
- Cash +€17,413
up €17,413 (+79.8%), from €21,822 to €39,235
mainly Receivables within one year (+€92,108) and Stocks and contracts (+€21,075)
- Profit (loss) carried forward -€79,035
down €79,035 (-49.8%), from €158,856 to €79,821
- Trade debts -€17,326
down €17,326 (-15.4%), from €112,374 to €95,048
- Gross operating margin +€134,860
up €134,860, from -€99,682 to €35,179
- Purchases and services -€78,113
down €78,113 (-14.1%), from €554,001 to €475,888
- Turnover +€57,010
up €57,010 (+12.6%), from €450,935 to €507,946
- Write-downs +€49,135
new in 2025: €49,135
- Taxes +€7,723
up €7,723, from -€4,644 to €3,079
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 | €401,364 | €305,283 | -€96,081 | -23.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €5,096 | €4,158 | -€938 | -18.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €4,733 | €3,795 | -€938 | -19.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €4,733 | €3,795 | -€938 | -19.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €396,268 | €301,125 | -€95,143 | -24.0% |
| Stocks and contracts in progress | 3 | €31,250 | €10,175 | -€21,075 | -67.4% |
| Stocks | 30/36 | €31,250 | €10,175 | -€21,075 | -67.4% |
| Amounts receivable within one year | 40/41 | €342,974 | €250,866 | -€92,108 | -26.9% |
| Trade receivables | 40 | €302,399 | €228,295 | -€74,104 | -24.5% |
| Other amounts receivable | 41 | €40,575 | €22,570 | -€18,005 | -44.4% |
| Cash at bank and in hand | 54/58 | €21,822 | €39,235 | +€17,413 | +79.8% |
| Deferred charges and accrued income | 490/1 | €221 | €849 | +€628 | +283.4% |
| Total equity and liabilities | 10/49 | €401,364 | €305,283 | -€96,081 | -23.9% |
| Equity | 10/15 | €277,056 | €198,021 | -€79,035 | -28.5% |
| 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% |
| Reserves | 13 | €56,200 | €56,200 | = | 0.0% |
| Distributable reserves | 133 | €56,200 | €56,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,856 | €79,821 | -€79,035 | -49.8% |
| Amounts payable | 17/49 | €124,308 | €107,262 | -€17,046 | -13.7% |
| Amounts payable within one year | 42/48 | €124,308 | €107,262 | -€17,046 | -13.7% |
| Trade debts | 44 | €112,374 | €95,048 | -€17,326 | -15.4% |
| Suppliers | 440/4 | €112,374 | €95,048 | -€17,326 | -15.4% |
| Taxes, remuneration and social security | 45 | €8,364 | €8,644 | +€280 | +3.4% |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €8,364 | €8,644 | +€280 | +3.4% |
| Other amounts payable | 47/48 | €3,570 | €3,570 | = | 0.0% |
| Turnover | 70 | €450,935 | €507,946 | +€57,010 | +12.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €554,001 | €475,888 | -€78,113 | -14.1% |
| Remuneration, social security and pensions | 62 | €58,745 | €58,040 | -€705 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,902 | €2,676 | -€227 | -7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €49,135 | +€49,135 | |
| Other operating charges | 640/8 | €6,838 | €1,241 | -€5,597 | -81.8% |
| Gross operating margin | 9900 | -€99,682 | €35,179 | +€134,860 | |
| Operating profit (loss) | 9901 | -€168,167 | -€75,913 | +€92,253 | +54.9% |
| Financial income | 75/76B | €2,975 | €1,110 | -€1,865 | -62.7% |
| Recurring financial income | 75 | €2,975 | €1,110 | -€1,865 | -62.7% |
| Financial charges | 65/66B | €5,865 | €1,153 | -€4,713 | -80.3% |
| Recurring financial charges | 65 | €5,865 | €1,153 | -€4,713 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | -€171,057 | -€75,956 | +€95,101 | +55.6% |
| Income taxes | 67/77 | -€4,644 | €3,079 | +€7,723 | |
| Profit (loss) for the period | 9904 | -€166,413 | -€79,035 | +€87,378 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€166,413 | -€79,035 | +€87,378 | +52.5% |
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 12 October 2026 via checked.be.