SAN GEORGE: 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.
SAN GEORGE
Largest movements
- Stocks and contracts -€119,753
no longer reported in 2022 (was €119,753)
- Receivables within one year +€94,734
up €94,734 (+654%), from €14,486 to €109,220
of which Other amounts receivable: +€99,856
- Tangible fixed assets -€26,383
no longer reported in 2022 (was €26,383)
- Cash -€18,844
down €18,844 (-99.5%), from €18,943 to €99
- Debts within one year -€90,905
down €90,905 (-77.1%), from €117,958 to €27,053
- Equity +€27,173
up €27,173 (+49.3%), from €55,094 to €82,267
of which Reserves: +€38,876
- Debts after one year -€6,515
no longer reported in 2022 (was €6,515)
- Gross operating margin -€64,400
down €64,400, from €64,255 to -€144
- Depreciation -€10,629
no longer reported in 2022 (was €10,629)
- Financial charges +€3,046
new in 2022: €3,046
- Staff costs +€1,789
new in 2022: €1,789
- Taxes -€1,725
down €1,725 (-57.1%), from €3,019 to €1,294
From the 2020 result to the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2020 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,566 | €109,319 | -€70,247 | -39.1% |
| Fixed assets | 21/28 | €26,383 | - | -€26,383 | |
| Tangible fixed assets | 22/27 | €26,383 | - | -€26,383 | |
| Current assets | 29/58 | €153,183 | €109,319 | -€43,864 | -28.6% |
| Stocks and contracts in progress | 3 | €119,753 | - | -€119,753 | |
| Amounts receivable within one year | 40/41 | €14,486 | €109,220 | +€94,734 | +654% |
| Trade receivables | 40 | - | €9,364 | +€9,364 | |
| Other amounts receivable | 41 | - | €99,856 | +€99,856 | |
| Cash at bank and in hand | 54/58 | €18,943 | €99 | -€18,844 | -99.5% |
| Total equity and liabilities | 10/49 | €179,566 | €109,319 | -€70,247 | -39.1% |
| Equity | 10/15 | €55,094 | €82,267 | +€27,173 | +49.3% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €24,791 | €63,667 | +€38,876 | +157% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €61,807 | +€61,807 | |
| Profit (loss) carried forward | 14 | €11,703 | - | -€11,703 | |
| Amounts payable | 17/49 | €124,473 | €27,053 | -€97,420 | -78.3% |
| Amounts payable after more than one year | 17 | €6,515 | - | -€6,515 | |
| Amounts payable within one year | 42/48 | €117,958 | €27,053 | -€90,905 | -77.1% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €51,980 | €11,129 | -€40,851 | -78.6% |
| Suppliers | 440/4 | - | €11,129 | +€11,129 | |
| Taxes, remuneration and social security | 45 | - | €15,923 | +€15,923 | |
| Taxes | 450/3 | - | €15,923 | +€15,923 | |
| Remuneration, social security and pensions | 62 | - | €1,789 | +€1,789 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,629 | - | -€10,629 | |
| Other operating charges | 640/8 | - | €47 | +€47 | |
| Gross operating margin | 9900 | €64,255 | -€144 | -€64,400 | |
| Operating profit (loss) | 9901 | €29,743 | -€1,981 | -€31,724 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | €270 | €1 | -€270 | -99.7% |
| Financial charges | 65/66B | - | €3,046 | +€3,046 | |
| Recurring financial charges | 65 | €4,064 | €3,046 | -€1,018 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €25,950 | -€5,026 | -€30,976 | |
| Income taxes | 67/77 | €3,019 | €1,294 | -€1,725 | -57.1% |
| Profit (loss) for the period | 9904 | €22,931 | -€6,320 | -€29,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,931 | -€6,320 | -€29,251 |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.