S.G. Pharma: 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. Pharma
Largest movements
- Cash +€14,657
up €14,657 (+50.5%), from €29,001 to €43,658
mainly Net result for the year (+€14,601) and Receivables within one year (+€12,079)
- Receivables within one year -€12,079
down €12,079 (-35.8%), from €33,761 to €21,682
of which Other amounts receivable: -€15,241
- Tangible fixed assets -€5,458
down €5,458 (-24.6%), from €22,159 to €16,701
of which Leasing and similar rights: -€6,978
- Current investments -€4,858
down €4,858 (-31.7%), from €15,304 to €10,446
- Debts after one year -€7,159
down €7,159 (-45.3%), from €15,804 to €8,645
- Reserves -€1,464
down €1,464 (-2.0%), from €73,885 to €72,422
- Gross operating margin -€1,765
down €1,765 (-5.7%), from €31,219 to €29,454
- Taxes -€643
down €643 (-8.3%), from €7,731 to €7,088
- Depreciation +€326
up €326 (+4.7%), from €6,978 to €7,304
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 | €101,078 | €93,620 | -€7,458 | -7.4% |
| Fixed assets | 21/28 | €22,159 | €16,701 | -€5,458 | -24.6% |
| Tangible fixed assets | 22/27 | €22,159 | €16,701 | -€5,458 | -24.6% |
| Furniture and vehicles | 24 | - | €1,520 | +€1,520 | |
| Leasing and similar rights | 25 | €22,159 | €15,180 | -€6,978 | -31.5% |
| Current assets | 29/58 | €78,919 | €76,920 | -€2,000 | -2.5% |
| Amounts receivable within one year | 40/41 | €33,761 | €21,682 | -€12,079 | -35.8% |
| Trade receivables | 40 | €889 | €4,051 | +€3,162 | +356% |
| Other amounts receivable | 41 | €32,872 | €17,631 | -€15,241 | -46.4% |
| Current investments | 50/53 | €15,304 | €10,446 | -€4,858 | -31.7% |
| Cash at bank and in hand | 54/58 | €29,001 | €43,658 | +€14,657 | +50.5% |
| Deferred charges and accrued income | 490/1 | €854 | €1,134 | +€281 | +32.9% |
| Total equity and liabilities | 10/49 | €101,078 | €93,620 | -€7,458 | -7.4% |
| Equity | 10/15 | €76,885 | €75,422 | -€1,464 | -1.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €73,885 | €72,422 | -€1,464 | -2.0% |
| Distributable reserves | 133 | €73,885 | €72,422 | -€1,464 | -2.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,193 | €18,199 | -€5,994 | -24.8% |
| Amounts payable after more than one year | 17 | €15,804 | €8,645 | -€7,159 | -45.3% |
| Financial debts | 170/4 | €15,804 | €8,645 | -€7,159 | -45.3% |
| Amounts payable within one year | 42/48 | €8,306 | €9,414 | +€1,108 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €6,934 | €7,159 | +€224 | +3.2% |
| Trade debts | 44 | €1,371 | €2,255 | +€884 | +64.4% |
| Suppliers | 440/4 | €1,371 | €2,255 | +€884 | +64.4% |
| Accrued charges and deferred income | 492/3 | €83 | €139 | +€56 | +68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,978 | €7,304 | +€326 | +4.7% |
| Other operating charges | 640/8 | €1,858 | €1,854 | -€4 | -0.2% |
| Gross operating margin | 9900 | €31,219 | €29,454 | -€1,765 | -5.7% |
| Operating profit (loss) | 9901 | €22,383 | €20,296 | -€2,087 | -9.3% |
| Financial income | 75/76B | €2,082 | €2,152 | +€70 | +3.4% |
| Recurring financial income | 75 | €2,082 | €2,152 | +€70 | +3.4% |
| Financial charges | 65/66B | €934 | €760 | -€174 | -18.6% |
| Recurring financial charges | 65 | €934 | €760 | -€174 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €23,531 | €21,688 | -€1,843 | -7.8% |
| Income taxes | 67/77 | €7,731 | €7,088 | -€643 | -8.3% |
| Profit (loss) for the period | 9904 | €15,800 | €14,601 | -€1,199 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,800 | €14,601 | -€1,199 | -7.6% |
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 1 November 2026 via checked.be.