SG PROPERTIES: 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 PROPERTIES
Largest movements
- Cash -€1.2m
down €1.2m (-92.6%), from €1.3m to €94,505
mainly Debts after one year (-€952,637) and Investment in fixed assets (net) (-€225,857)
- Deferred charges and accrued income -€62,099
down €62,099 (-95.5%), from €65,003 to €2,904
- Debts after one year -€952,637
down €952,637 (-26.1%), from €3.6m to €2.7m
- Accrued charges and deferred income -€158,133
down €158,133 (-86.3%), from €183,212 to €25,079
- Profit (loss) carried forward -€140,787
down €140,787 (-21.8%), from -€644,924 to -€785,711
- Depreciation +€20,648
up €20,648 (+10.4%), from €198,780 to €219,428
- Gross operating margin +€19,249
up €19,249 (+6.8%), from €283,489 to €302,738
- Financial charges -€4,444
down €4,444 (-2.1%), from €206,971 to €202,527
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 | €4,690,986 | €3,436,586 | -€1.3m | -26.7% |
| Fixed assets | 21/28 | €3,332,694 | €3,339,123 | +€6,429 | +0.2% |
| Tangible fixed assets | 22/27 | €3,332,694 | €3,339,123 | +€6,429 | +0.2% |
| Land and buildings | 22 | €3,112,416 | €2,960,196 | -€152,221 | -4.9% |
| Plant, machinery and equipment | 23 | €220,278 | €378,927 | +€158,650 | +72.0% |
| Current assets | 29/58 | €1,358,292 | €97,463 | -€1.3m | -92.8% |
| Amounts receivable within one year | 40/41 | €14,503 | €54 | -€14,448 | -99.6% |
| Other amounts receivable | 41 | €14,503 | €54 | -€14,448 | -99.6% |
| Cash at bank and in hand | 54/58 | €1,278,786 | €94,505 | -€1.2m | -92.6% |
| Deferred charges and accrued income | 490/1 | €65,003 | €2,904 | -€62,099 | -95.5% |
| Total equity and liabilities | 10/49 | €4,690,986 | €3,436,586 | -€1.3m | -26.7% |
| Equity | 10/15 | €855,076 | €714,289 | -€140,787 | -16.5% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€644,924 | -€785,711 | -€140,787 | -21.8% |
| Amounts payable | 17/49 | €3,835,910 | €2,722,298 | -€1.1m | -29.0% |
| Amounts payable after more than one year | 17 | €3,644,099 | €2,691,462 | -€952,637 | -26.1% |
| Financial debts | 170/4 | €3,644,099 | €2,691,462 | -€952,637 | -26.1% |
| Amounts payable within one year | 42/48 | €8,599 | €5,757 | -€2,843 | -33.1% |
| Trade debts | 44 | €8,565 | €5,757 | -€2,808 | -32.8% |
| Suppliers | 440/4 | €8,565 | €5,757 | -€2,808 | -32.8% |
| Taxes, remuneration and social security | 45 | €34 | €0 | -€34 | -100.0% |
| Taxes | 450/3 | €34 | €0 | -€34 | -100.0% |
| Accrued charges and deferred income | 492/3 | €183,212 | €25,079 | -€158,133 | -86.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,780 | €219,428 | +€20,648 | +10.4% |
| Other operating charges | 640/8 | €20,915 | €21,570 | +€655 | +3.1% |
| Gross operating margin | 9900 | €283,489 | €302,738 | +€19,249 | +6.8% |
| Operating profit (loss) | 9901 | €63,794 | €61,740 | -€2,054 | -3.2% |
| Financial charges | 65/66B | €206,971 | €202,527 | -€4,444 | -2.1% |
| Recurring financial charges | 65 | €206,971 | €202,527 | -€4,444 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€143,176 | -€140,787 | +€2,389 | +1.7% |
| Profit (loss) for the period | 9904 | -€143,176 | -€140,787 | +€2,389 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€143,176 | -€140,787 | +€2,389 | +1.7% |
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 11 October 2026 via checked.be.