SG IMMOFIN: 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 IMMOFIN
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€221,573
2024 · -€1.4m+€1.6m
Equity
€2.3m
2024 · €2.0m+€221,573
Cash
€382,147
2024 · €121,294+€260,853
Balance sheet total
€9.9m
2024 · €7.6m+€2.3m
Largest movements
Assets
- Receivables within one year +€2.4m
up €2.4m (+100%), from €2.4m to €4.7m
of which Other amounts receivable: +€2.2m
- Tangible fixed assets -€385,995
down €385,995 (-7.5%), from €5.1m to €4.7m
of which Land and buildings: -€273,567
- Cash +€260,853
up €260,853 (+215%), from €121,294 to €382,147
mainly Other debts (+€1.8m) and Depreciation (+€362,583)
Equity and liabilities
- Other debts +€1.8m
up €1.8m (+2,469%), from €73,196 to €1.9m
- Short-term financial debts +€300,000
up €300,000 (+42.9%), from €700,000 to €1.0m
- Profit (loss) carried forward +€221,573
up €221,573 (+2.5%), from -€8.8m to -€8.6m
Income statement
- Financial charges -€1.5m
down €1.5m (-90.0%), from €1.6m to €162,414
of which Non-recurring financial charges: -€1.2m
- Turnover +€188,857
up €188,857 (+14.9%), from €1.3m to €1.5m
- Financial income -€67,760
down €67,760 (-40.7%), from €166,594 to €98,834
- Depreciation +€18,170
up €18,170 (+5.3%), from €344,413 to €362,583
- Other operating charges +€14,745
up €14,745 (+21.3%), from €69,226 to €83,972
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
-€1.4m
Turnover
+€188,857
Other operating income
-€12,934
Services and other goods
-€9,087
Depreciation
-€18,170
Other operating charges
-€14,745
Other operating items
+€80,643
Financial income
-€67,760
Financial charges
+€1.5m
Taxes
-€6
Result 2025
€221,573
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
-€22,305
Investment
+€23,602
Financing
+€259,555
Cash 2024
€121,294
From operations (derived)
-€22,305
Net result for the year
+€221,573
Depreciation
+€362,583
Receivables within one year
-€2.4m
Deferred charges and accrued income
-€53,137
Trade debts
-€6,716
Smaller working-capital items
-€611
Advances received
+€18,000
Other debts
+€1.8m
Investment (derived)
+€23,602
Investment in fixed assets (net)
+€23,602
Financing
+€259,555
Debts after one year
-€41,194
Current portion of long-term debt
+€749
Short-term financial debts
+€300,000
Cash 2025
€382,147
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,640,401 | €9,939,736 | +€2.3m | +30.1% |
| Fixed assets | 21/28 | €5,124,089 | €4,737,903 | -€386,185 | -7.5% |
| Intangible fixed assets | 21 | €3,811 | €3,621 | -€191 | -5.0% |
| Tangible fixed assets | 22/27 | €5,120,245 | €4,734,250 | -€385,995 | -7.5% |
| Land and buildings | 22 | €4,651,304 | €4,377,738 | -€273,567 | -5.9% |
| Plant, machinery and equipment | 23 | €5,057 | €3,449 | -€1,608 | -31.8% |
| Furniture and vehicles | 24 | €69,196 | €32,580 | -€36,617 | -52.9% |
| Other tangible fixed assets | 26 | €270,630 | €320,483 | +€49,854 | +18.4% |
| Assets under construction and advance payments | 27 | €124,057 | €0 | -€124,057 | -100% |
| Financial fixed assets | 28 | €33 | €33 | = | 0.0% |
| Affiliated companies | 280/1 | €33 | €33 | = | 0.0% |
| Participating interests | 280 | €33 | €33 | = | 0.0% |
| Current assets | 29/58 | €2,516,312 | €5,201,832 | +€2.7m | +107% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,361,240 | €4,732,770 | +€2.4m | +100% |
| Trade receivables | 40 | €328,723 | €529,559 | +€200,836 | +61.1% |
| Other amounts receivable | 41 | €2,032,517 | €4,203,211 | +€2.2m | +107% |
| Cash at bank and in hand | 54/58 | €121,294 | €382,147 | +€260,853 | +215% |
| Deferred charges and accrued income | 490/1 | €33,778 | €86,915 | +€53,137 | +157% |
| Total equity and liabilities | 10/49 | €7,640,401 | €9,939,736 | +€2.3m | +30.1% |
| Equity | 10/15 | €2,041,533 | €2,263,106 | +€221,573 | +10.9% |
| Contributions | 10/11 | €7,091,963 | €7,091,963 | = | 0.0% |
| Capital | 10 | €7,091,963 | €7,091,963 | = | 0.0% |
| Issued capital | 100 | €7,091,963 | €7,091,963 | = | 0.0% |
| Reserves | 13 | €3,767,030 | €3,767,030 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,196 | €9,196 | = | 0.0% |
| Legal reserve | 130 | €9,196 | €9,196 | = | 0.0% |
| Distributable reserves | 133 | €3,757,834 | €3,757,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,817,460 | -€8,595,887 | +€221,573 | +2.5% |
| Amounts payable | 17/49 | €5,598,868 | €7,676,630 | +€2.1m | +37.1% |
| Amounts payable after more than one year | 17 | €3,984,901 | €3,943,707 | -€41,194 | -1.0% |
| Financial debts | 170/4 | €2,394,571 | €1,826,263 | -€568,308 | -23.7% |
| Credit institutions | 173 | €2,394,571 | €1,826,263 | -€568,308 | -23.7% |
| Other amounts payable | 178/9 | €1,590,329 | €2,117,444 | +€527,115 | +33.1% |
| Amounts payable within one year | 42/48 | €1,569,719 | €3,690,077 | +€2.1m | +135% |
| Current portion of amounts payable after more than one year | 42 | €567,560 | €568,308 | +€749 | +0.1% |
| Financial debts | 43 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Credit institutions | 430/8 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Trade debts | 44 | €181,454 | €174,738 | -€6,716 | -3.7% |
| Suppliers | 440/4 | €181,454 | €174,738 | -€6,716 | -3.7% |
| Advances received on contracts in progress | 46 | €33,000 | €51,000 | +€18,000 | +54.5% |
| Taxes, remuneration and social security | 45 | €14,509 | €15,301 | +€792 | +5.5% |
| Taxes | 450/3 | €14,509 | €15,301 | +€792 | +5.5% |
| Other amounts payable | 47/48 | €73,196 | €1,880,730 | +€1.8m | +2,469% |
| Accrued charges and deferred income | 492/3 | €44,249 | €42,846 | -€1,403 | -3.2% |
| Operating income | 70/76A | €1,455,538 | €1,528,969 | +€73,432 | +5.0% |
| Turnover | 70 | €1,268,284 | €1,457,141 | +€188,857 | +14.9% |
| Other operating income | 74 | €70,531 | €57,596 | -€12,934 | -18.3% |
| Non-recurring operating income | 76A | €116,723 | €14,232 | -€102,491 | -87.8% |
| Operating charges | 60/66A | €1,383,916 | €1,242,784 | -€141,132 | -10.2% |
| Services and other goods | 61 | €771,315 | €780,401 | +€9,087 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344,413 | €362,583 | +€18,170 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €69,226 | €83,972 | +€14,745 | +21.3% |
| Non-recurring operating charges | 66A | €198,962 | €15,828 | -€183,134 | -92.0% |
| Operating profit (loss) | 9901 | €71,622 | €286,185 | +€214,563 | +300% |
| Financial income | 75/76B | €166,594 | €98,834 | -€67,760 | -40.7% |
| Recurring financial income | 75 | €166,594 | €98,834 | -€67,760 | -40.7% |
| Income from current assets | 751 | €166,594 | €81,332 | -€85,262 | -51.2% |
| Other financial income | 752/9 | €0 | €17,502 | +€17,502 | +58,340,433% |
| Financial charges | 65/66B | €1,627,730 | €162,414 | -€1.5m | -90.0% |
| Recurring financial charges | 65 | €427,730 | €162,414 | -€265,315 | -62.0% |
| Debt charges | 650 | €422,319 | €157,010 | -€265,310 | -62.8% |
| Other financial charges | 652/9 | €5,410 | €5,405 | -€6 | -0.1% |
| Non-recurring financial charges | 66B | €1,200,000 | €0 | -€1.2m | -100% |
| Profit (loss) for the period before taxes | 9903 | -€1,389,514 | €222,605 | +€1.6m | |
| Income taxes | 67/77 | €1,026 | €1,032 | +€6 | +0.6% |
| Taxes | 670/3 | €1,026 | €1,032 | +€6 | +0.6% |
| Profit (loss) for the period | 9904 | -€1,390,540 | €221,573 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,390,540 | €221,573 | +€1.6m |
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 15 October 2026 via checked.be.