SG IMMO: what changed
Two fiscal 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 IMMO
Largest movements
- Stocks and contracts +€38,708
new in 2025: €38,708
- Receivables within one year +€13,186
new in 2025: €13,186
- Tangible fixed assets -€12,405
down €12,405 (-6.2%), from €199,480 to €187,075
of which Land and buildings: -€12,213
- Deferred charges and accrued income -€11,635
no longer reported in 2025 (was €11,635)
- Cash +€5,006
up €5,006 (+209.6%), from €2,388 to €7,394
mainly Debts after one year (+€13,365) and Depreciation (+€12,405)
- Debts after one year +€13,365
up €13,365 (+11.3%), from €118,698 to €132,062
- Profit (loss) carried forward +€10,915
up €10,915 (+24.6%), from €44,304 to €55,220
- Trade debts +€6,813
up €6,813 (+419.9%), from €1,623 to €8,436
- Tax, wage and social debts +€4,023
up €4,023 (+78.8%), from €5,103 to €9,126
- Financial charges -€735
down €735 (-14.5%), from €5,081 to €4,346
- Taxes +€495
up €495 (+14.2%), from €3,478 to €3,973
- Depreciation -€447
down €447 (-3.5%), from €12,853 to €12,405
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 | €230,692 | €266,536 | +€35,844 | +15.5% |
| Fixed assets | 21/28 | €216,669 | €207,248 | -€9,422 | -4.3% |
| Tangible fixed assets | 22/27 | €199,480 | €187,075 | -€12,405 | -6.2% |
| Land and buildings | 22 | €199,287 | €187,075 | -€12,213 | -6.1% |
| Plant, machinery and equipment | 23 | €192 | €0 | -€192 | -100.0% |
| Financial fixed assets | 28 | €17,190 | €20,173 | +€2,984 | +17.4% |
| Current assets | 29/58 | €14,023 | €59,288 | +€45,265 | +322.8% |
| Stocks and contracts in progress | 3 | - | €38,708 | +€38,708 | |
| Stocks | 30/36 | - | €38,708 | +€38,708 | |
| Amounts receivable within one year | 40/41 | - | €13,186 | +€13,186 | |
| Trade receivables | 40 | - | €13,186 | +€13,186 | |
| Cash at bank and in hand | 54/58 | €2,388 | €7,394 | +€5,006 | +209.6% |
| Deferred charges and accrued income | 490/1 | €11,635 | - | -€11,635 | |
| Total equity and liabilities | 10/49 | €230,692 | €266,536 | +€35,844 | +15.5% |
| Equity | 10/15 | €50,847 | €61,763 | +€10,915 | +21.5% |
| Contributions | 10/11 | €5,948 | €5,948 | = | 0.0% |
| Reserves | 13 | €595 | €595 | = | 0.0% |
| Distributable reserves | 133 | €595 | €595 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,304 | €55,220 | +€10,915 | +24.6% |
| Amounts payable | 17/49 | €179,845 | €204,774 | +€24,929 | +13.9% |
| Amounts payable after more than one year | 17 | €118,698 | €132,062 | +€13,365 | +11.3% |
| Financial debts | 170/4 | €118,698 | €132,062 | +€13,365 | +11.3% |
| Amounts payable within one year | 42/48 | €61,147 | €72,711 | +€11,564 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €24,838 | €25,565 | +€727 | +2.9% |
| Trade debts | 44 | €1,623 | €8,436 | +€6,813 | +419.9% |
| Suppliers | 440/4 | €1,623 | €8,436 | +€6,813 | +419.9% |
| Taxes, remuneration and social security | 45 | €5,103 | €9,126 | +€4,023 | +78.8% |
| Taxes | 450/3 | €5,103 | €9,126 | +€4,023 | +78.8% |
| Other amounts payable | 47/48 | €29,583 | €29,583 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,853 | €12,405 | -€447 | -3.5% |
| Other operating charges | 640/8 | €3,128 | €3,239 | +€111 | +3.5% |
| Gross operating margin | 9900 | €34,973 | €34,878 | -€95 | -0.3% |
| Operating profit (loss) | 9901 | €18,993 | €19,234 | +€241 | +1.3% |
| Financial charges | 65/66B | €5,081 | €4,346 | -€735 | -14.5% |
| Recurring financial charges | 65 | €5,081 | €4,346 | -€735 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €13,912 | €14,888 | +€976 | +7.0% |
| Income taxes | 67/77 | €3,478 | €3,973 | +€495 | +14.2% |
| Profit (loss) for the period | 9904 | €10,434 | €10,915 | +€481 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,434 | €10,915 | +€481 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.