SG PARTNERS: 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 PARTNERS
Largest movements
- Cash +€22,302
up €22,302 (+7,387%), from €302 to €22,603
- Receivables within one year +€6,466
up €6,466 (+21.6%), from €29,892 to €36,358
of which Other amounts receivable: +€27,896
- Receivables after one year -€2,447
down €2,447 (-3.9%), from €62,443 to €59,997
- Deferred charges and accrued income -€2,269
no longer reported in 2025 (was €2,269)
- Debts after one year +€67,500
new in 2025: €67,500
- Profit (loss) carried forward -€23,496
down €23,496 (-391%), from -€6,008 to -€29,504
- Trade debts -€15,673
down €15,673 (-85.5%), from €18,323 to €2,650
- Tax, wage and social debts -€4,051
down €4,051 (-100%), from €4,051 to €0
- Other debts -€2,208
no longer reported in 2025 (was €2,208)
- Gross operating margin +€15,749
up €15,749, from -€6,817 to €8,931
- Other operating charges +€11,410
up €11,410 (+1,358,313%), from €1 to €11,411
- Financial charges +€1,036
up €1,036 (+237%), from €437 to €1,473
- Financial income +€1,018
up €1,018 (+46.0%), from €2,214 to €3,231
- Depreciation -€967
down €967 (-100%), from €967 to €0
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €95,873 | €118,958 | +€23,085 | +24.1% |
| Fixed assets | 21/28 | €967 | - | -€967 | |
| Tangible fixed assets | 22/27 | €967 | - | -€967 | |
| Plant, machinery and equipment | 23 | €967 | - | -€967 | |
| Current assets | 29/58 | €94,907 | €118,958 | +€24,052 | +25.3% |
| Amounts receivable after more than one year | 29 | €62,443 | €59,997 | -€2,447 | -3.9% |
| Other amounts receivable | 291 | €62,443 | €59,997 | -€2,447 | -3.9% |
| Amounts receivable within one year | 40/41 | €29,892 | €36,358 | +€6,466 | +21.6% |
| Trade receivables | 40 | €29,628 | €8,197 | -€21,430 | -72.3% |
| Other amounts receivable | 41 | €264 | €28,161 | +€27,896 | +10,556% |
| Cash at bank and in hand | 54/58 | €302 | €22,603 | +€22,302 | +7,387% |
| Deferred charges and accrued income | 490/1 | €2,269 | - | -€2,269 | |
| Total equity and liabilities | 10/49 | €95,873 | €118,958 | +€23,085 | +24.1% |
| Equity | 10/15 | €71,292 | €47,796 | -€23,496 | -33.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,099 | €71,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €69,239 | €69,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,008 | -€29,504 | -€23,496 | -391% |
| Amounts payable | 17/49 | €24,582 | €71,163 | +€46,581 | +189% |
| Amounts payable after more than one year | 17 | - | €67,500 | +€67,500 | |
| Other amounts payable | 178/9 | - | €67,500 | +€67,500 | |
| Amounts payable within one year | 42/48 | €24,582 | €2,650 | -€21,932 | -89.2% |
| Trade debts | 44 | €18,323 | €2,650 | -€15,673 | -85.5% |
| Suppliers | 440/4 | €18,323 | €2,650 | -€15,673 | -85.5% |
| Taxes, remuneration and social security | 45 | €4,051 | €0 | -€4,051 | -100% |
| Taxes | 450/3 | €4,051 | €0 | -€4,051 | -100% |
| Other amounts payable | 47/48 | €2,208 | - | -€2,208 | |
| Accrued charges and deferred income | 492/3 | - | €1,013 | +€1,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €967 | €0 | -€967 | -100% |
| Other operating charges | 640/8 | €1 | €11,411 | +€11,410 | +1,358,313% |
| Gross operating margin | 9900 | -€6,817 | €8,931 | +€15,749 | |
| Operating profit (loss) | 9901 | -€7,785 | -€2,479 | +€5,305 | +68.2% |
| Financial income | 75/76B | €2,214 | €3,231 | +€1,018 | +46.0% |
| Recurring financial income | 75 | €2,214 | €3,231 | +€1,018 | +46.0% |
| Financial charges | 65/66B | €437 | €1,473 | +€1,036 | +237% |
| Recurring financial charges | 65 | €437 | €1,473 | +€1,036 | +237% |
| Profit (loss) for the period before taxes | 9903 | -€6,008 | -€721 | +€5,287 | +88.0% |
| Income taxes | 67/77 | - | -€235 | -€235 | |
| Profit (loss) for the period | 9904 | -€6,008 | -€485 | +€5,522 | +91.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,008 | -€485 | +€5,522 | +91.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.