S.G.F.: 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.
S.G.F.
Largest movements
- Tangible fixed assets -€11,207
down €11,207 (-5.1%), from €221,447 to €210,240
- Debts after one year -€11,165
down €11,165 (-3.6%), from €314,206 to €303,041
- Profit (loss) carried forward +€2,757
up €2,757 (+1.5%), from -€185,657 to -€182,900
- Gross operating margin +€3,199
up €3,199 (+23.4%), from €13,662 to €16,861
- Financial charges -€888
down €888 (-35.2%), from €2,523 to €1,635
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 | €223,948 | €214,322 | -€9,626 | -4.3% |
| Fixed assets | 21/28 | €221,447 | €210,240 | -€11,207 | -5.1% |
| Tangible fixed assets | 22/27 | €221,447 | €210,240 | -€11,207 | -5.1% |
| Land and buildings | 22 | €221,447 | €210,240 | -€11,207 | -5.1% |
| Current assets | 29/58 | €2,501 | €4,082 | +€1,581 | +63.2% |
| Cash at bank and in hand | 54/58 | €2,501 | €4,082 | +€1,581 | +63.2% |
| Total equity and liabilities | 10/49 | €223,948 | €214,322 | -€9,626 | -4.3% |
| Equity | 10/15 | -€117,228 | -€114,471 | +€2,757 | +2.4% |
| 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 | €6,429 | €6,429 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,429 | €6,429 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,429 | €6,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,657 | -€182,900 | +€2,757 | +1.5% |
| Amounts payable | 17/49 | €341,176 | €328,793 | -€12,383 | -3.6% |
| Amounts payable after more than one year | 17 | €314,206 | €303,041 | -€11,165 | -3.6% |
| Financial debts | 170/4 | €314,206 | €303,041 | -€11,165 | -3.6% |
| Amounts payable within one year | 42/48 | €22,228 | €23,162 | +€934 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €18,259 | €19,193 | +€934 | +5.1% |
| Trade debts | 44 | €2,169 | €2,169 | = | 0.0% |
| Suppliers | 440/4 | €2,169 | €2,169 | = | 0.0% |
| Other amounts payable | 47/48 | €1,800 | €1,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,742 | €2,590 | -€2,152 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,207 | €11,207 | = | 0.0% |
| Other operating charges | 640/8 | €1,223 | €1,262 | +€39 | +3.2% |
| Gross operating margin | 9900 | €13,662 | €16,861 | +€3,199 | +23.4% |
| Operating profit (loss) | 9901 | €1,232 | €4,392 | +€3,160 | +256% |
| Financial charges | 65/66B | €2,523 | €1,635 | -€888 | -35.2% |
| Recurring financial charges | 65 | €2,523 | €1,635 | -€888 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,291 | €2,757 | +€4,048 | |
| Profit (loss) for the period | 9904 | -€1,291 | €2,757 | +€4,048 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,291 | €2,757 | +€4,048 |
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 29 October 2026 via checked.be.