SG Médical: 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 Médical
Largest movements
- Receivables within one year +€72,975
new in 2025: €72,975
- Intangible fixed assets -€20,000
down €20,000 (-22.2%), from €90,000 to €70,000
- Cash +€14,461
up €14,461 (+48,203%), from €30 to €14,491
mainly Debts after one year (+€56,866) and Net result for the year (+€47,485)
- Tangible fixed assets -€9,000
down €9,000 (-22.2%), from €40,500 to €31,500
- Other debts -€85,855
no longer reported in 2025 (was €85,855)
- Debts after one year +€56,866
new in 2025: €56,866
- Reserves +€50,000
up €50,000 (+200%), from €25,000 to €75,000
- Current portion of long-term debt +€20,785
new in 2025: €20,785
- Tax, wage and social debts +€18,885
up €18,885 (+153%), from €12,322 to €31,207
- Gross operating margin +€38,594
up €38,594 (+66.5%), from €58,051 to €96,645
- Depreciation +€14,500
up €14,500 (+100%), from €14,500 to €29,000
- Taxes +€3,263
up €3,263 (+26.5%), from €12,322 to €15,585
- Financial charges +€3,164
up €3,164 (+277%), from €1,141 to €4,305
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 | €130,530 | €188,966 | +€58,436 | +44.8% |
| Fixed assets | 21/28 | €130,500 | €101,500 | -€29,000 | -22.2% |
| Intangible fixed assets | 21 | €90,000 | €70,000 | -€20,000 | -22.2% |
| Tangible fixed assets | 22/27 | €40,500 | €31,500 | -€9,000 | -22.2% |
| Furniture and vehicles | 24 | €40,500 | €31,500 | -€9,000 | -22.2% |
| Current assets | 29/58 | €30 | €87,466 | +€87,436 | +291,453% |
| Amounts receivable within one year | 40/41 | - | €72,975 | +€72,975 | |
| Other amounts receivable | 41 | - | €72,975 | +€72,975 | |
| Cash at bank and in hand | 54/58 | €30 | €14,491 | +€14,461 | +48,203% |
| Total equity and liabilities | 10/49 | €130,530 | €188,966 | +€58,436 | +44.8% |
| Equity | 10/15 | €32,353 | €79,838 | +€47,485 | +147% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €75,000 | +€50,000 | +200% |
| Distributable reserves | 133 | €25,000 | €75,000 | +€50,000 | +200% |
| Profit (loss) carried forward | 14 | €4,353 | €1,838 | -€2,515 | -57.8% |
| Amounts payable | 17/49 | €98,177 | €109,128 | +€10,951 | +11.2% |
| Amounts payable after more than one year | 17 | - | €56,866 | +€56,866 | |
| Financial debts | 170/4 | - | €56,866 | +€56,866 | |
| Amounts payable within one year | 42/48 | €98,177 | €51,992 | -€46,185 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | - | €20,785 | +€20,785 | |
| Taxes, remuneration and social security | 45 | €12,322 | €31,207 | +€18,885 | +153% |
| Taxes | 450/3 | €12,322 | €31,207 | +€18,885 | +153% |
| Other amounts payable | 47/48 | €85,855 | - | -€85,855 | |
| Accrued charges and deferred income | 492/3 | - | €270 | +€270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,500 | €29,000 | +€14,500 | +100% |
| Other operating charges | 640/8 | €735 | €270 | -€465 | -63.3% |
| Gross operating margin | 9900 | €58,051 | €96,645 | +€38,594 | +66.5% |
| Operating profit (loss) | 9901 | €42,816 | €67,375 | +€24,559 | +57.4% |
| Financial charges | 65/66B | €1,141 | €4,305 | +€3,164 | +277% |
| Recurring financial charges | 65 | €1,141 | €4,305 | +€3,164 | +277% |
| Profit (loss) for the period before taxes | 9903 | €41,675 | €63,070 | +€21,395 | +51.3% |
| Income taxes | 67/77 | €12,322 | €15,585 | +€3,263 | +26.5% |
| Profit (loss) for the period | 9904 | €29,353 | €47,485 | +€18,132 | +61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,353 | €47,485 | +€18,132 | +61.8% |
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 1 November 2026 via checked.be.