SG EURO: what changed
SG EURO
Largest movements
- Cash -€45,332
down €45,332 (-96.6%), from €46,928 to €1,596
mainly Receivables within one year (-€41,063) and Net result for the year (-€20,481)
- Receivables within one year +€41,063
up €41,063 (+1,215%), from €3,379 to €44,442
of which Trade receivables: +€40,908
- Tangible fixed assets -€6,326
down €6,326 (-60.8%), from €10,409 to €4,083
of which Furniture and vehicles: -€6,919
- Profit (loss) carried forward -€20,481
down €20,481 (-485%), from -€4,223 to -€24,704
- Trade debts +€8,523
up €8,523 (+137%), from €6,218 to €14,741
- Tax, wage and social debts +€2,623
up €2,623 (+3.9%), from €67,425 to €70,048
of which Remuneration and social security: +€4,747
- Gross operating margin -€6,546
down €6,546 (-2.1%), from €306,304 to €299,759
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,910 | €85,575 | -€9,335 | -9.8% |
| Fixed assets | 21/28 | €12,409 | €6,083 | -€6,326 | -51.0% |
| Tangible fixed assets | 22/27 | €10,409 | €4,083 | -€6,326 | -60.8% |
| Plant, machinery and equipment | 23 | €3,490 | €4,083 | +€593 | +17.0% |
| Furniture and vehicles | 24 | €6,919 | - | -€6,919 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €82,501 | €79,492 | -€3,008 | -3.6% |
| Stocks and contracts in progress | 3 | €28,386 | €29,306 | +€921 | +3.2% |
| Stocks | 30/36 | €28,386 | €29,306 | +€921 | +3.2% |
| Amounts receivable within one year | 40/41 | €3,379 | €44,442 | +€41,063 | +1,215% |
| Trade receivables | 40 | - | €40,908 | +€40,908 | |
| Other amounts receivable | 41 | €3,379 | €3,534 | +€155 | +4.6% |
| Cash at bank and in hand | 54/58 | €46,928 | €1,596 | -€45,332 | -96.6% |
| Deferred charges and accrued income | 490/1 | €3,808 | €4,148 | +€340 | +8.9% |
| Total equity and liabilities | 10/49 | €94,910 | €85,575 | -€9,335 | -9.8% |
| Equity | 10/15 | €14,377 | -€6,104 | -€20,481 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,223 | -€24,704 | -€20,481 | -485% |
| Amounts payable | 17/49 | €80,532 | €91,679 | +€11,147 | +13.8% |
| Amounts payable within one year | 42/48 | €80,532 | €91,679 | +€11,147 | +13.8% |
| Trade debts | 44 | €6,218 | €14,741 | +€8,523 | +137% |
| Suppliers | 440/4 | €6,218 | €14,741 | +€8,523 | +137% |
| Taxes, remuneration and social security | 45 | €67,425 | €70,048 | +€2,623 | +3.9% |
| Taxes | 450/3 | €13,109 | €10,986 | -€2,124 | -16.2% |
| Remuneration and social security | 454/9 | €54,315 | €59,062 | +€4,747 | +8.7% |
| Other amounts payable | 47/48 | €6,890 | €6,890 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €306,549 | €306,035 | -€514 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,776 | €9,189 | -€2,587 | -22.0% |
| Other operating charges | 640/8 | €5,131 | €3,921 | -€1,210 | -23.6% |
| Gross operating margin | 9900 | €306,304 | €299,759 | -€6,546 | -2.1% |
| Operating profit (loss) | 9901 | -€17,152 | -€19,386 | -€2,235 | -13.0% |
| Financial charges | 65/66B | €927 | €1,095 | +€168 | +18.1% |
| Recurring financial charges | 65 | €927 | €1,095 | +€168 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,079 | -€20,481 | -€2,403 | -13.3% |
| Profit (loss) for the period | 9904 | -€18,079 | -€20,481 | -€2,403 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,079 | -€20,481 | -€2,403 | -13.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.