SG PROJECT: 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 PROJECT
Largest movements
- Cash +€8,635
up €8,635 (+376%), from €2,295 to €10,930
mainly Net result for the year (+€9,007) and Tax, wage and social debts (+€7,230)
- Tangible fixed assets +€3,620
new in 2025: €3,620
- Receivables within one year +€901
up €901 (+6.1%), from €14,685 to €15,586
of which Other amounts receivable: +€2,220
- Profit (loss) carried forward +€9,007
up €9,007 (+97.0%), from €9,289 to €18,297
- Tax, wage and social debts +€7,230
up €7,230 (+311%), from €2,322 to €9,553
of which Remuneration and social security: +€6,900
- Other debts -€3,446
no longer reported in 2025 (was €3,446)
- Trade debts +€330
up €330 (+66.6%), from €495 to €825
- Gross operating margin +€2,064
up €2,064 (+17.0%), from €12,144 to €14,208
- Other operating charges +€1,224
up €1,224 (+339%), from €361 to €1,585
- Depreciation +€684
new in 2025: €684
- Taxes +€395
up €395 (+17.0%), from €2,322 to €2,717
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 | €17,552 | €30,674 | +€13,122 | +74.8% |
| Fixed assets | 21/28 | - | €3,620 | +€3,620 | |
| Tangible fixed assets | 22/27 | - | €3,620 | +€3,620 | |
| Furniture and vehicles | 24 | - | €3,620 | +€3,620 | |
| Current assets | 29/58 | €17,552 | €27,054 | +€9,502 | +54.1% |
| Amounts receivable within one year | 40/41 | €14,685 | €15,586 | +€901 | +6.1% |
| Trade receivables | 40 | €13,951 | €12,632 | -€1,319 | -9.5% |
| Other amounts receivable | 41 | €734 | €2,954 | +€2,220 | +302% |
| Cash at bank and in hand | 54/58 | €2,295 | €10,930 | +€8,635 | +376% |
| Deferred charges and accrued income | 490/1 | €572 | €537 | -€35 | -6.1% |
| Total equity and liabilities | 10/49 | €17,552 | €30,674 | +€13,122 | +74.8% |
| Equity | 10/15 | €11,289 | €20,297 | +€9,007 | +79.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,289 | €18,297 | +€9,007 | +97.0% |
| Amounts payable | 17/49 | €6,263 | €10,378 | +€4,114 | +65.7% |
| Amounts payable within one year | 42/48 | €6,263 | €10,378 | +€4,114 | +65.7% |
| Trade debts | 44 | €495 | €825 | +€330 | +66.6% |
| Suppliers | 440/4 | €495 | €825 | +€330 | +66.6% |
| Taxes, remuneration and social security | 45 | €2,322 | €9,553 | +€7,230 | +311% |
| Taxes | 450/3 | €2,322 | €2,653 | +€330 | +14.2% |
| Remuneration and social security | 454/9 | - | €6,900 | +€6,900 | |
| Other amounts payable | 47/48 | €3,446 | - | -€3,446 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €684 | +€684 | |
| Other operating charges | 640/8 | €361 | €1,585 | +€1,224 | +339% |
| Gross operating margin | 9900 | €12,144 | €14,208 | +€2,064 | +17.0% |
| Operating profit (loss) | 9901 | €11,783 | €11,939 | +€157 | +1.3% |
| Financial charges | 65/66B | €171 | €215 | +€44 | +25.5% |
| Recurring financial charges | 65 | €171 | €215 | +€44 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €11,611 | €11,724 | +€113 | +1.0% |
| Income taxes | 67/77 | €2,322 | €2,717 | +€395 | +17.0% |
| Profit (loss) for the period | 9904 | €9,289 | €9,007 | -€282 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,289 | €9,007 | -€282 | -3.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.