SG Project Consult: 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 Consult
Largest movements
- Current investments -€224,321
down €224,321 (-38.0%), from €589,679 to €365,358
- Cash +€200,329
up €200,329 (+100%), from €199,635 to €399,964
mainly Current investments (+€224,321) and Net result for the year (+€117,595)
- Tangible fixed assets -€12,789
down €12,789 (-57.3%), from €22,330 to €9,540
of which Furniture and vehicles: -€12,553
- Receivables within one year -€8,795
down €8,795 (-19.1%), from €46,133 to €37,338
of which Trade receivables: -€8,795
- Reserves -€53,981
down €53,981 (-7.3%), from €734,941 to €680,960
of which Distributable reserves: -€53,981
- Gross operating margin +€33,616
up €33,616 (+19.6%), from €171,245 to €204,861
- Financial charges +€23,299
up €23,299 (+450%), from €5,175 to €28,473
- Taxes +€12,417
up €12,417 (+26.6%), from €46,643 to €59,060
- Financial income +€11,554
up €11,554 (+323%), from €3,575 to €15,129
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 | €860,114 | €814,100 | -€46,014 | -5.3% |
| Fixed assets | 21/28 | €22,330 | €9,540 | -€12,789 | -57.3% |
| Tangible fixed assets | 22/27 | €22,330 | €9,540 | -€12,789 | -57.3% |
| Land and buildings | 22 | €1,893 | €1,656 | -€237 | -12.5% |
| Furniture and vehicles | 24 | €20,437 | €7,884 | -€12,553 | -61.4% |
| Current assets | 29/58 | €837,784 | €804,559 | -€33,224 | -4.0% |
| Amounts receivable within one year | 40/41 | €46,133 | €37,338 | -€8,795 | -19.1% |
| Trade receivables | 40 | €39,057 | €30,262 | -€8,795 | -22.5% |
| Other amounts receivable | 41 | €7,076 | €7,076 | = | 0.0% |
| Current investments | 50/53 | €589,679 | €365,358 | -€224,321 | -38.0% |
| Cash at bank and in hand | 54/58 | €199,635 | €399,964 | +€200,329 | +100% |
| Deferred charges and accrued income | 490/1 | €2,338 | €1,900 | -€438 | -18.7% |
| Total equity and liabilities | 10/49 | €860,114 | €814,100 | -€46,014 | -5.3% |
| Equity | 10/15 | €810,799 | €756,913 | -€53,886 | -6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €734,941 | €680,960 | -€53,981 | -7.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €733,081 | €679,100 | -€53,981 | -7.4% |
| Profit (loss) carried forward | 14 | €63,458 | €63,553 | +€95 | +0.1% |
| Amounts payable | 17/49 | €49,315 | €57,187 | +€7,872 | +16.0% |
| Amounts payable within one year | 42/48 | €46,439 | €55,936 | +€9,497 | +20.5% |
| Trade debts | 44 | €146 | €1,049 | +€903 | +619% |
| Suppliers | 440/4 | €146 | €1,049 | +€903 | +619% |
| Taxes, remuneration and social security | 45 | €23,413 | €29,148 | +€5,735 | +24.5% |
| Taxes | 450/3 | €23,413 | €29,148 | +€5,735 | +24.5% |
| Other amounts payable | 47/48 | €22,880 | €25,739 | +€2,859 | +12.5% |
| Accrued charges and deferred income | 492/3 | €2,876 | €1,251 | -€1,626 | -56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,395 | €14,106 | -€289 | -2.0% |
| Other operating charges | 640/8 | €987 | €756 | -€231 | -23.4% |
| Gross operating margin | 9900 | €171,245 | €204,861 | +€33,616 | +19.6% |
| Operating profit (loss) | 9901 | €155,863 | €189,999 | +€34,136 | +21.9% |
| Financial income | 75/76B | €3,575 | €15,129 | +€11,554 | +323% |
| Recurring financial income | 75 | €3,575 | €15,129 | +€11,554 | +323% |
| Financial charges | 65/66B | €5,175 | €28,473 | +€23,299 | +450% |
| Recurring financial charges | 65 | €5,175 | €28,473 | +€23,299 | +450% |
| Profit (loss) for the period before taxes | 9903 | €154,263 | €176,655 | +€22,392 | +14.5% |
| Income taxes | 67/77 | €46,643 | €59,060 | +€12,417 | +26.6% |
| Profit (loss) for the period | 9904 | €107,621 | €117,595 | +€9,975 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €107,621 | €117,595 | +€9,975 | +9.3% |
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 15 October 2026 via checked.be.