SG HOLDING: 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.
What changed
SG HOLDING
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.5m
2024 · -€3.8m+€2.3m
Equity
€43.0m
2024 · €44.6m-€1.5m
Cash
€1,074
2024 · €17+€1,057
Balance sheet total
€43.2m
2024 · €44.9m-€1.7m
Largest movements
Assets
- Financial fixed assets -€1.3m
down €1.3m (-4.5%), from €30.1m to €28.8m
Equity and liabilities
- Profit (loss) carried forward -€1.5m
down €1.5m (-12.8%), from €11.9m to €10.3m
Income statement
- Financial charges -€2.9m
down €2.9m (-58.8%), from €4.9m to €2.0m
of which Non-recurring financial charges: -€2.9m
- Financial income -€721,890
down €721,890 (-53.3%), from €1.4m to €631,764
of which Financial income: -€721,890
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.
Result 2024
-€3.8m
Other operating charges
-€7
Other operating items
-€485
Financial income
-€721,890
Financial charges
+€2.9m
Taxes
+€200,114
Result 2025
-€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.3m
Investment
+€1.3m
Financing
€0
Cash 2024
€17
From operations (derived)
-€1.3m
Net result for the year
-€1.5m
Receivables after one year
+€370,596
Tax, wage and social debts
-€199,803
Investment (derived)
+€1.3m
Investment in fixed assets (net)
+€1.3m
Current investments
+€760
Cash 2025
€1,074
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,920,381 | €43,206,117 | -€1.7m | -3.8% |
| Fixed assets | 21/28 | €30,103,408 | €28,759,444 | -€1.3m | -4.5% |
| Financial fixed assets | 28 | €30,103,408 | €28,759,444 | -€1.3m | -4.5% |
| Affiliated companies | 280/1 | €30,103,408 | €28,759,444 | -€1.3m | -4.5% |
| Participating interests | 280 | €17,175,483 | €15,175,483 | -€2.0m | -11.6% |
| Amounts receivable | 281 | €12,927,925 | €13,583,962 | +€656,036 | +5.1% |
| Current assets | 29/58 | €14,816,972 | €14,446,673 | -€370,300 | -2.5% |
| Amounts receivable after more than one year | 29 | €14,815,836 | €14,445,240 | -€370,596 | -2.5% |
| Other amounts receivable | 291 | €14,815,836 | €14,445,240 | -€370,596 | -2.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Current investments | 50/53 | €1,119 | €359 | -€760 | -67.9% |
| Other investments | 51/53 | €1,119 | €359 | -€760 | -67.9% |
| Cash at bank and in hand | 54/58 | €17 | €1,074 | +€1,057 | +6,110% |
| Total equity and liabilities | 10/49 | €44,920,381 | €43,206,117 | -€1.7m | -3.8% |
| Equity | 10/15 | €44,555,577 | €43,041,117 | -€1.5m | -3.4% |
| Contributions | 10/11 | €29,727,558 | €29,727,558 | = | 0.0% |
| Capital | 10 | €29,727,558 | €29,727,558 | = | 0.0% |
| Issued capital | 100 | €29,727,558 | €29,727,558 | = | 0.0% |
| Reserves | 13 | €2,972,756 | €2,972,756 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,972,756 | €2,972,756 | = | 0.0% |
| Legal reserve | 130 | €2,972,756 | €2,972,756 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,855,264 | €10,340,804 | -€1.5m | -12.8% |
| Amounts payable | 17/49 | €364,803 | €165,000 | -€199,803 | -54.8% |
| Amounts payable within one year | 42/48 | €364,803 | €165,000 | -€199,803 | -54.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €364,803 | €165,000 | -€199,803 | -54.8% |
| Taxes | 450/3 | €364,803 | €165,000 | -€199,803 | -54.8% |
| Operating income | 70/76A | €336 | €0 | -€336 | -100% |
| Non-recurring operating income | 76A | €336 | €0 | -€336 | -100% |
| Operating charges | 60/66A | €8,810 | €8,966 | +€156 | +1.8% |
| Services and other goods | 61 | €7,850 | €7,998 | +€148 | +1.9% |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Operating profit (loss) | 9901 | -€8,474 | -€8,966 | -€492 | -5.8% |
| Financial income | 75/76B | €1,353,654 | €631,764 | -€721,890 | -53.3% |
| Recurring financial income | 75 | €1,353,654 | €631,764 | -€721,890 | -53.3% |
| Income from financial fixed assets | 750 | €772,418 | €294,348 | -€478,070 | -61.9% |
| Income from current assets | 751 | €581,229 | €337,408 | -€243,821 | -41.9% |
| Other financial income | 752/9 | €7 | €8 | +€1 | +21.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,851,204 | €2,001,065 | -€2.9m | -58.8% |
| Recurring financial charges | 65 | €1,204 | €1,065 | -€139 | -11.5% |
| Other financial charges | 652/9 | €1,204 | €1,065 | -€139 | -11.5% |
| Non-recurring financial charges | 66B | €4,850,000 | €2,000,000 | -€2.9m | -58.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,506,024 | -€1,378,267 | +€2.1m | +60.7% |
| Income taxes | 67/77 | €336,308 | €136,193 | -€200,114 | -59.5% |
| Taxes | 670/3 | €360,004 | €165,002 | -€195,002 | -54.2% |
| Tax adjustments and reversals of tax provisions | 77 | €23,697 | €28,809 | +€5,112 | +21.6% |
| Profit (loss) for the period | 9904 | -€3,842,331 | -€1,514,460 | +€2.3m | +60.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,842,331 | -€1,514,460 | +€2.3m | +60.6% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.