SG Law: 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 Law
Largest movements
- Receivables within one year +€37,358
up €37,358 (+261%), from €14,317 to €51,676
of which Trade receivables: +€21,750
- Deferred charges and accrued income -€20,250
no longer reported in 2025 (was €20,250)
- Current investments +€15,000
new in 2025: €15,000
- Tangible fixed assets -€4,854
down €4,854 (-38.9%), from €12,493 to €7,639
- Cash +€3,988
up €3,988 (+17.0%), from €23,504 to €27,492
mainly Net result for the year (+€33,908) and Deferred charges and accrued income (+€20,250)
- Reserves +€33,908
up €33,908 (+56.1%), from €60,467 to €94,375
- Tax, wage and social debts -€3,216
down €3,216 (-41.9%), from €7,672 to €4,456
- Gross operating margin -€17,734
down €17,734 (-25.3%), from €70,004 to €52,271
- Taxes -€4,609
down €4,609 (-25.6%), from €17,972 to €13,363
- Depreciation +€2,785
up €2,785 (+135%), from €2,069 to €4,854
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 | €70,564 | €101,807 | +€31,242 | +44.3% |
| Fixed assets | 21/28 | €12,493 | €7,639 | -€4,854 | -38.9% |
| Tangible fixed assets | 22/27 | €12,493 | €7,639 | -€4,854 | -38.9% |
| Furniture and vehicles | 24 | €12,493 | €7,639 | -€4,854 | -38.9% |
| Current assets | 29/58 | €58,071 | €94,168 | +€36,096 | +62.2% |
| Amounts receivable within one year | 40/41 | €14,317 | €51,676 | +€37,358 | +261% |
| Trade receivables | 40 | - | €21,750 | +€21,750 | |
| Other amounts receivable | 41 | €14,317 | €29,926 | +€15,608 | +109% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €23,504 | €27,492 | +€3,988 | +17.0% |
| Deferred charges and accrued income | 490/1 | €20,250 | - | -€20,250 | |
| Total equity and liabilities | 10/49 | €70,564 | €101,807 | +€31,242 | +44.3% |
| Equity | 10/15 | €62,467 | €96,375 | +€33,908 | +54.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €60,467 | €94,375 | +€33,908 | +56.1% |
| Distributable reserves | 133 | €60,467 | €94,375 | +€33,908 | +56.1% |
| Amounts payable | 17/49 | €8,098 | €5,432 | -€2,666 | -32.9% |
| Amounts payable within one year | 42/48 | €8,098 | €5,432 | -€2,666 | -32.9% |
| Trade debts | 44 | €426 | €976 | +€550 | +129% |
| Suppliers | 440/4 | €426 | €976 | +€550 | +129% |
| Taxes, remuneration and social security | 45 | €7,672 | €4,456 | -€3,216 | -41.9% |
| Taxes | 450/3 | €7,672 | €4,456 | -€3,216 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,069 | €4,854 | +€2,785 | +135% |
| Other operating charges | 640/8 | €387 | €914 | +€527 | +136% |
| Gross operating margin | 9900 | €70,004 | €52,271 | -€17,734 | -25.3% |
| Operating profit (loss) | 9901 | €67,548 | €46,503 | -€21,045 | -31.2% |
| Financial income | 75/76B | €260 | €937 | +€677 | +260% |
| Recurring financial income | 75 | €260 | €937 | +€677 | +260% |
| Financial charges | 65/66B | €205 | €168 | -€37 | -17.9% |
| Recurring financial charges | 65 | €205 | €168 | -€37 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €67,603 | €47,271 | -€20,332 | -30.1% |
| Income taxes | 67/77 | €17,972 | €13,363 | -€4,609 | -25.6% |
| Profit (loss) for the period | 9904 | €49,632 | €33,908 | -€15,723 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,632 | €33,908 | -€15,723 | -31.7% |
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 17 October 2026 via checked.be.