SG CONSULT: 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.
SG CONSULT
Largest movements
- Tangible fixed assets +€63,386
up €63,386 (+7.6%), from €832,618 to €896,004
of which Land and buildings: +€70,988
- Cash -€21,564
down €21,564 (-57.9%), from €37,220 to €15,656
mainly Investment in fixed assets (net) (-€117,810) and Debts after one year (-€8,041)
- Reserves +€39,434
up €39,434 (+42.7%), from €92,421 to €131,855
of which Distributable reserves: +€40,664
- Gross operating margin +€27,067
up €27,067 (+23.9%), from €113,480 to €140,547
- Depreciation +€12,511
up €12,511 (+29.9%), from €41,912 to €54,423
- Taxes +€5,656
up €5,656 (+50.0%), from €11,317 to €16,973
- Financial charges +€4,643
up €4,643 (+25.3%), from €18,345 to €22,988
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 | €900,449 | €942,204 | +€41,755 | +4.6% |
| Fixed assets | 21/28 | €832,618 | €896,004 | +€63,386 | +7.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €832,618 | €896,004 | +€63,386 | +7.6% |
| Land and buildings | 22 | €809,456 | €880,444 | +€70,988 | +8.8% |
| Furniture and vehicles | 24 | €23,162 | €15,559 | -€7,602 | -32.8% |
| Current assets | 29/58 | €67,832 | €46,200 | -€21,632 | -31.9% |
| Amounts receivable within one year | 40/41 | €27,954 | €27,525 | -€429 | -1.5% |
| Trade receivables | 40 | €27,954 | €27,419 | -€535 | -1.9% |
| Other amounts receivable | 41 | - | €106 | +€106 | |
| Cash at bank and in hand | 54/58 | €37,220 | €15,656 | -€21,564 | -57.9% |
| Deferred charges and accrued income | 490/1 | €2,658 | €3,019 | +€361 | +13.6% |
| Total equity and liabilities | 10/49 | €900,449 | €942,204 | +€41,755 | +4.6% |
| Equity | 10/15 | €325,655 | €365,088 | +€39,434 | +12.1% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €92,421 | €131,855 | +€39,434 | +42.7% |
| Non-distributable reserves | 130/1 | €6,080 | €6,080 | = | 0.0% |
| Legal reserve | 130 | €6,080 | €6,080 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,341 | €50,111 | -€1,230 | -2.4% |
| Distributable reserves | 133 | €35,000 | €75,664 | +€40,664 | +116.2% |
| Profit (loss) carried forward | 14 | €58,233 | €58,233 | = | 0.0% |
| Provisions and deferred taxes | 16 | €72,198 | €71,890 | -€308 | -0.4% |
| Provisions for liabilities and charges | 160/5 | €59,362 | €59,362 | = | 0.0% |
| Pensions and similar obligations | 160 | €59,362 | €59,362 | = | 0.0% |
| Deferred taxes | 168 | €12,835 | €12,528 | -€308 | -2.4% |
| Amounts payable | 17/49 | €502,597 | €505,225 | +€2,628 | +0.5% |
| Amounts payable after more than one year | 17 | €372,074 | €364,033 | -€8,041 | -2.2% |
| Financial debts | 170/4 | €372,074 | €364,033 | -€8,041 | -2.2% |
| Amounts payable within one year | 42/48 | €125,447 | €133,110 | +€7,663 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €12,926 | €17,821 | +€4,894 | +37.9% |
| Trade debts | 44 | €12,514 | €7,045 | -€5,469 | -43.7% |
| Suppliers | 440/4 | €12,514 | €7,045 | -€5,469 | -43.7% |
| Taxes, remuneration and social security | 45 | €22,617 | €23,847 | +€1,230 | +5.4% |
| Taxes | 450/3 | €22,617 | €23,847 | +€1,230 | +5.4% |
| Other amounts payable | 47/48 | €77,390 | €84,398 | +€7,008 | +9.1% |
| Accrued charges and deferred income | 492/3 | €5,077 | €8,082 | +€3,006 | +59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,912 | €54,423 | +€12,511 | +29.9% |
| Other operating charges | 640/8 | €6,581 | €7,265 | +€684 | +10.4% |
| Gross operating margin | 9900 | €113,480 | €140,547 | +€27,067 | +23.9% |
| Operating profit (loss) | 9901 | €64,987 | €78,859 | +€13,872 | +21.3% |
| Financial income | 75/76B | €5 | €229 | +€224 | +4736.4% |
| Recurring financial income | 75 | €5 | €229 | +€224 | +4736.4% |
| Financial charges | 65/66B | €18,345 | €22,988 | +€4,643 | +25.3% |
| Recurring financial charges | 65 | €18,345 | €22,988 | +€4,643 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €46,647 | €56,100 | +€9,453 | +20.3% |
| Transfer from deferred taxes | 780 | €308 | €308 | = | 0.0% |
| Income taxes | 67/77 | €11,317 | €16,973 | +€5,656 | +50.0% |
| Profit (loss) for the period | 9904 | €35,637 | €39,434 | +€3,797 | +10.7% |
| Transfer from tax-exempt reserves | 789 | €1,230 | €1,230 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,867 | €40,664 | +€3,797 | +10.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.