SG Management: 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 Management
Largest movements
- Cash +€13,246
up €13,246 (+23.8%), from €55,740 to €68,986
mainly Net result for the year (+€183,327) and Tax, wage and social debts (+€32,619)
- Tax, wage and social debts +€32,619
up €32,619 (+476%), from €6,852 to €39,471
- Reserves -€31,954
down €31,954 (-4.3%), from €737,859 to €705,905
- Profit (loss) carried forward +€13,500
up €13,500, from -€13,500 to €0
- Gross operating margin +€252,917
up €252,917 (+1,984%), from €12,746 to €265,663
- Taxes +€85,309
up €85,309 (+1,145%), from €7,449 to €92,759
- Financial charges +€20,748
up €20,748, from -€19,119 to €1,629
- Financial income +€11,297
up €11,297 (+155%), from €7,266 to €18,563
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 | €752,533 | €766,897 | +€14,364 | +1.9% |
| Fixed assets | 21/28 | €18,676 | €14,923 | -€3,753 | -20.1% |
| Intangible fixed assets | 21 | €2,580 | €1,842 | -€738 | -28.6% |
| Tangible fixed assets | 22/27 | €16,096 | €13,081 | -€3,015 | -18.7% |
| Furniture and vehicles | 24 | €16,096 | €13,081 | -€3,015 | -18.7% |
| Current assets | 29/58 | €733,857 | €751,974 | +€18,117 | +2.5% |
| Amounts receivable within one year | 40/41 | €33,778 | €32,973 | -€805 | -2.4% |
| Trade receivables | 40 | €31,146 | €32,864 | +€1,718 | +5.5% |
| Other amounts receivable | 41 | €2,632 | €109 | -€2,523 | -95.9% |
| Current investments | 50/53 | €639,910 | €643,168 | +€3,258 | +0.5% |
| Cash at bank and in hand | 54/58 | €55,740 | €68,986 | +€13,246 | +23.8% |
| Deferred charges and accrued income | 490/1 | €4,429 | €6,848 | +€2,418 | +54.6% |
| Total equity and liabilities | 10/49 | €752,533 | €766,897 | +€14,364 | +1.9% |
| Equity | 10/15 | €742,908 | €724,455 | -€18,453 | -2.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €737,859 | €705,905 | -€31,954 | -4.3% |
| Distributable reserves | 133 | €737,859 | €705,905 | -€31,954 | -4.3% |
| Profit (loss) carried forward | 14 | -€13,500 | €0 | +€13,500 | |
| Amounts payable | 17/49 | €9,624 | €42,442 | +€32,817 | +341% |
| Amounts payable within one year | 42/48 | €8,230 | €42,442 | +€34,212 | +416% |
| Trade debts | 44 | €1,378 | €1,664 | +€286 | +20.7% |
| Suppliers | 440/4 | €1,378 | €1,664 | +€286 | +20.7% |
| Taxes, remuneration and social security | 45 | €6,852 | €39,471 | +€32,619 | +476% |
| Taxes | 450/3 | €6,852 | €39,471 | +€32,619 | +476% |
| Other amounts payable | 47/48 | - | €1,307 | +€1,307 | |
| Accrued charges and deferred income | 492/3 | €1,395 | €0 | -€1,395 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,829 | €3,753 | -€76 | -2.0% |
| Other operating charges | 640/8 | €2,155 | €2,758 | +€603 | +28.0% |
| Gross operating margin | 9900 | €12,746 | €265,663 | +€252,917 | +1,984% |
| Operating profit (loss) | 9901 | €6,762 | €259,152 | +€252,390 | +3,732% |
| Financial income | 75/76B | €7,266 | €18,563 | +€11,297 | +155% |
| Recurring financial income | 75 | €7,266 | €18,563 | +€11,297 | +155% |
| Financial charges | 65/66B | -€19,119 | €1,629 | +€20,748 | |
| Recurring financial charges | 65 | -€19,119 | €1,629 | +€20,748 | |
| Profit (loss) for the period before taxes | 9903 | €33,147 | €276,085 | +€242,938 | +733% |
| Income taxes | 67/77 | €7,449 | €92,759 | +€85,309 | +1,145% |
| Profit (loss) for the period | 9904 | €25,698 | €183,327 | +€157,629 | +613% |
| Profit (loss) for the period to be appropriated | 9905 | €25,698 | €183,327 | +€157,629 | +613% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.