SG MEAT: 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 MEAT
Largest movements
- Receivables within one year +€57,821
up €57,821 (+168.6%), from €34,294 to €92,115
- Stocks and contracts +€20,588
new in 2025: €20,588
- Cash +€2,946
up €2,946 (+43.5%), from €6,770 to €9,716
mainly Net result for the year (+€57,241) and Tax, wage and social debts (+€12,384)
- Reserves +€57,241
up €57,241 (+180.9%), from €31,634 to €88,874
- Tax, wage and social debts +€12,384
up €12,384 (+123.1%), from €10,056 to €22,439
of which Taxes: +€9,258
- Accrued charges and deferred income +€10,406
up €10,406 (+648.3%), from €1,605 to €12,012
- Gross operating margin +€35,192
up €35,192 (+80.5%), from €43,707 to €78,900
- Taxes +€6,255
up €6,255 (+66.5%), from €9,401 to €15,656
- Staff costs +€3,613
new in 2025: €3,613
- Other operating charges -€1,781
down €1,781 (-72.3%), from €2,462 to €681
- Financial charges +€843
up €843 (+2585.3%), from €33 to €876
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 | €43,385 | €123,906 | +€80,522 | +185.6% |
| Fixed assets | 21/28 | €2,321 | €1,488 | -€833 | -35.9% |
| Tangible fixed assets | 22/27 | €2,321 | €1,488 | -€833 | -35.9% |
| Furniture and vehicles | 24 | €2,321 | €1,488 | -€833 | -35.9% |
| Current assets | 29/58 | €41,064 | €122,418 | +€81,355 | +198.1% |
| Stocks and contracts in progress | 3 | - | €20,588 | +€20,588 | |
| Stocks | 30/36 | - | €20,588 | +€20,588 | |
| Amounts receivable within one year | 40/41 | €34,294 | €92,115 | +€57,821 | +168.6% |
| Other amounts receivable | 41 | €34,294 | €92,115 | +€57,821 | +168.6% |
| Cash at bank and in hand | 54/58 | €6,770 | €9,716 | +€2,946 | +43.5% |
| Total equity and liabilities | 10/49 | €43,385 | €123,906 | +€80,522 | +185.6% |
| Equity | 10/15 | €31,634 | €88,874 | +€57,241 | +180.9% |
| Reserves | 13 | €31,634 | €88,874 | +€57,241 | +180.9% |
| Distributable reserves | 133 | €31,634 | €88,874 | +€57,241 | +180.9% |
| Amounts payable | 17/49 | €11,751 | €35,032 | +€23,281 | +198.1% |
| Amounts payable within one year | 42/48 | €10,146 | €23,021 | +€12,874 | +126.9% |
| Trade debts | 44 | €90 | €581 | +€491 | +543.6% |
| Suppliers | 440/4 | €90 | €581 | +€491 | +543.6% |
| Taxes, remuneration and social security | 45 | €10,056 | €22,439 | +€12,384 | +123.1% |
| Taxes | 450/3 | €10,056 | €19,314 | +€9,258 | +92.1% |
| Remuneration and social security | 454/9 | - | €3,126 | +€3,126 | |
| Accrued charges and deferred income | 492/3 | €1,605 | €12,012 | +€10,406 | +648.3% |
| Remuneration, social security and pensions | 62 | - | €3,613 | +€3,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179 | €833 | +€655 | +366.5% |
| Other operating charges | 640/8 | €2,462 | €681 | -€1,781 | -72.3% |
| Gross operating margin | 9900 | €43,707 | €78,900 | +€35,192 | +80.5% |
| Operating profit (loss) | 9901 | €41,067 | €73,772 | +€32,705 | +79.6% |
| Financial charges | 65/66B | €33 | €876 | +€843 | +2585.3% |
| Recurring financial charges | 65 | €33 | €876 | +€843 | +2585.3% |
| Profit (loss) for the period before taxes | 9903 | €41,034 | €72,896 | +€31,862 | +77.6% |
| Income taxes | 67/77 | €9,401 | €15,656 | +€6,255 | +66.5% |
| Profit (loss) for the period | 9904 | €31,634 | €57,241 | +€25,607 | +80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,634 | €57,241 | +€25,607 | +80.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.