SG GROUP: 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 GROUP
Largest movements
- Stocks and contracts +€4,321
up €4,321 (+5.4%), from €79,992 to €84,312
- Intangible fixed assets +€2,566
up €2,566 (+10.4%), from €24,753 to €27,319
- Receivables within one year -€1,332
down €1,332 (-23.3%), from €5,720 to €4,388
of which Other amounts receivable: -€690
- Short-term financial debts +€127,557
up €127,557 (+1584.6%), from €8,050 to €135,607
- Profit (loss) carried forward -€98,256
down €98,256 (-242.4%), from -€40,537 to -€138,793
- Debts after one year -€19,722
down €19,722 (-24.8%), from €79,543 to €59,821
- Other debts -€10,119
no longer reported in 2024 (was €10,119)
- Trade debts +€4,502
up €4,502 (+11.7%), from €38,323 to €42,825
- Gross operating margin -€72,263
down €72,263 (-487.3%), from -€14,828 to -€87,091
- Depreciation +€5,457
up €5,457 (+143.5%), from €3,802 to €9,259
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,901 | €121,181 | +€4,280 | +3.7% |
| Formation expenses | 20 | €731 | €501 | -€231 | -31.5% |
| Fixed assets | 21/28 | €29,613 | €31,903 | +€2,289 | +7.7% |
| Intangible fixed assets | 21 | €24,753 | €27,319 | +€2,566 | +10.4% |
| Tangible fixed assets | 22/27 | €1,561 | €1,284 | -€276 | -17.7% |
| Plant, machinery and equipment | 23 | €1,561 | €1,284 | -€276 | -17.7% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €86,556 | €88,777 | +€2,221 | +2.6% |
| Stocks and contracts in progress | 3 | €79,992 | €84,312 | +€4,321 | +5.4% |
| Stocks | 30/36 | €79,992 | €84,312 | +€4,321 | +5.4% |
| Amounts receivable within one year | 40/41 | €5,720 | €4,388 | -€1,332 | -23.3% |
| Trade receivables | 40 | €907 | €265 | -€642 | -70.8% |
| Other amounts receivable | 41 | €4,813 | €4,123 | -€690 | -14.3% |
| Cash at bank and in hand | 54/58 | €845 | €77 | -€768 | -90.9% |
| Total equity and liabilities | 10/49 | €116,901 | €121,181 | +€4,280 | +3.7% |
| Equity | 10/15 | -€38,537 | -€136,793 | -€98,256 | -255.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,537 | -€138,793 | -€98,256 | -242.4% |
| Amounts payable | 17/49 | €155,438 | €257,974 | +€102,536 | +66.0% |
| Amounts payable after more than one year | 17 | €79,543 | €59,821 | -€19,722 | -24.8% |
| Financial debts | 170/4 | €79,543 | €59,821 | -€19,722 | -24.8% |
| Amounts payable within one year | 42/48 | €75,895 | €198,153 | +€122,258 | +161.1% |
| Current portion of amounts payable after more than one year | 42 | €19,404 | €19,722 | +€318 | +1.6% |
| Financial debts | 43 | €8,050 | €135,607 | +€127,557 | +1584.6% |
| Other loans | 439 | €8,050 | €135,607 | +€127,557 | +1584.6% |
| Trade debts | 44 | €38,323 | €42,825 | +€4,502 | +11.7% |
| Suppliers | 440/4 | €38,323 | €42,825 | +€4,502 | +11.7% |
| Other amounts payable | 47/48 | €10,119 | - | -€10,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,802 | €9,259 | +€5,457 | +143.5% |
| Other operating charges | 640/8 | - | €6 | +€6 | |
| Gross operating margin | 9900 | -€14,828 | -€87,091 | -€72,263 | -487.3% |
| Operating profit (loss) | 9901 | -€18,630 | -€96,356 | -€77,726 | -417.2% |
| Financial charges | 65/66B | €1,145 | €1,900 | +€755 | +66.0% |
| Recurring financial charges | 65 | €1,145 | €1,900 | +€755 | +66.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,775 | -€98,256 | -€78,481 | -396.9% |
| Profit (loss) for the period | 9904 | -€19,775 | -€98,256 | -€78,481 | -396.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,775 | -€98,256 | -€78,481 | -396.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.