SG INVEST: 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 INVEST
Largest movements
- Receivables within one year +€35,524
up €35,524 (+794%), from €4,476 to €40,000
of which Other amounts receivable: +€40,000
- Cash +€6,142
up €6,142 (+29.4%), from €20,890 to €27,032
mainly Net result for the year (+€45,494) and Depreciation (+€748)
- Profit (loss) carried forward +€50,240
up €50,240 (+59.2%), from -€84,854 to -€34,615
- Reserves -€4,746
down €4,746 (-7.3%), from €65,055 to €60,309
of which Tax-exempt reserves: -€4,746
- Trade debts -€4,576
down €4,576 (-87.8%), from €5,210 to €634
- Gross operating margin +€23,726
up €23,726 (+84.4%), from €28,114 to €51,839
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,001 | €117,919 | +€40,918 | +53.1% |
| Fixed assets | 21/28 | €38,012 | €37,264 | -€748 | -2.0% |
| Tangible fixed assets | 22/27 | €38,012 | €37,264 | -€748 | -2.0% |
| Land and buildings | 22 | €38,012 | €37,264 | -€748 | -2.0% |
| Current assets | 29/58 | €38,989 | €80,655 | +€41,666 | +107% |
| Stocks and contracts in progress | 3 | €13,623 | €13,623 | = | 0.0% |
| Stocks | 30/36 | €13,623 | €13,623 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,476 | €40,000 | +€35,524 | +794% |
| Trade receivables | 40 | €4,476 | €0 | -€4,476 | -100% |
| Other amounts receivable | 41 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €20,890 | €27,032 | +€6,142 | +29.4% |
| Total equity and liabilities | 10/49 | €77,001 | €117,919 | +€40,918 | +53.1% |
| Equity | 10/15 | €68,531 | €114,025 | +€45,494 | +66.4% |
| Contributions | 10/11 | €88,330 | €88,330 | = | 0.0% |
| Capital | 10 | €88,330 | €88,330 | = | 0.0% |
| Issued capital | 100 | €88,330 | €88,330 | = | 0.0% |
| Reserves | 13 | €65,055 | €60,309 | -€4,746 | -7.3% |
| Non-distributable reserves | 130/1 | €34,626 | €34,626 | = | 0.0% |
| Legal reserve | 130 | €34,550 | €34,550 | = | 0.0% |
| Reserves not available under the articles | 1311 | €76 | €76 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,491 | €4,746 | -€4,746 | -50.0% |
| Distributable reserves | 133 | €20,937 | €20,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,854 | -€34,615 | +€50,240 | +59.2% |
| Amounts payable | 17/49 | €8,470 | €3,894 | -€4,576 | -54.0% |
| Amounts payable within one year | 42/48 | €7,470 | €2,894 | -€4,576 | -61.3% |
| Trade debts | 44 | €5,210 | €634 | -€4,576 | -87.8% |
| Suppliers | 440/4 | €5,210 | €634 | -€4,576 | -87.8% |
| Other amounts payable | 47/48 | €2,260 | €2,260 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €748 | €748 | = | 0.0% |
| Other operating charges | 640/8 | €4,980 | €5,196 | +€217 | +4.4% |
| Gross operating margin | 9900 | €28,114 | €51,839 | +€23,726 | +84.4% |
| Operating profit (loss) | 9901 | €22,386 | €45,895 | +€23,509 | +105% |
| Financial charges | 65/66B | €332 | €401 | +€69 | +20.7% |
| Recurring financial charges | 65 | €332 | €401 | +€69 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €22,054 | €45,494 | +€23,440 | +106% |
| Profit (loss) for the period | 9904 | €22,054 | €45,494 | +€23,440 | +106% |
| Transfer from tax-exempt reserves | 789 | €1,509 | €4,746 | +€3,237 | +214% |
| Profit (loss) for the period to be appropriated | 9905 | €23,563 | €50,240 | +€26,677 | +113% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.