SG-Services: 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-Services
Largest movements
- Tangible fixed assets +€47,817
up €47,817 (+52.8%), from €90,534 to €138,351
of which Furniture and vehicles: +€50,582
- Cash +€24,433
up €24,433 (+50.1%), from €48,775 to €73,208
mainly Net result for the year (+€44,915) and Depreciation (+€26,222)
- Receivables within one year -€11,406
down €11,406 (-19.5%), from €58,537 to €47,131
of which Trade receivables: -€21,194
- Reserves +€44,082
up €44,082 (+67.4%), from €65,402 to €109,483
- Debts after one year +€24,550
up €24,550 (+1126.1%), from €2,180 to €26,730
- Other debts -€22,382
down €22,382 (-19.2%), from €116,401 to €94,019
- Trade debts +€13,227
up €13,227 (+140.2%), from €9,433 to €22,661
- Current portion of long-term debt +€3,335
up €3,335 (+76.9%), from €4,340 to €7,675
- Gross operating margin -€23,907
down €23,907 (-22.3%), from €107,300 to €83,394
- Taxes -€6,802
down €6,802 (-40.2%), from €16,905 to €10,102
- Depreciation +€3,945
up €3,945 (+17.7%), from €22,277 to €26,222
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 | €209,585 | €270,067 | +€60,482 | +28.9% |
| Fixed assets | 21/28 | €91,709 | €138,956 | +€47,247 | +51.5% |
| Intangible fixed assets | 21 | €1,174 | €604 | -€570 | -48.5% |
| Tangible fixed assets | 22/27 | €90,534 | €138,351 | +€47,817 | +52.8% |
| Plant, machinery and equipment | 23 | €53,759 | €51,669 | -€2,090 | -3.9% |
| Furniture and vehicles | 24 | €23,886 | €74,467 | +€50,582 | +211.8% |
| Other tangible fixed assets | 26 | €12,890 | €12,215 | -€675 | -5.2% |
| Current assets | 29/58 | €117,877 | €131,112 | +€13,235 | +11.2% |
| Stocks and contracts in progress | 3 | €5,728 | €6,613 | +€885 | +15.5% |
| Stocks | 30/36 | €5,728 | €6,613 | +€885 | +15.5% |
| Amounts receivable within one year | 40/41 | €58,537 | €47,131 | -€11,406 | -19.5% |
| Trade receivables | 40 | €57,442 | €36,248 | -€21,194 | -36.9% |
| Other amounts receivable | 41 | €1,095 | €10,883 | +€9,787 | +893.6% |
| Cash at bank and in hand | 54/58 | €48,775 | €73,208 | +€24,433 | +50.1% |
| Deferred charges and accrued income | 490/1 | €4,837 | €4,159 | -€678 | -14.0% |
| Total equity and liabilities | 10/49 | €209,585 | €270,067 | +€60,482 | +28.9% |
| Equity | 10/15 | €70,402 | €114,483 | +€44,082 | +62.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €65,402 | €109,483 | +€44,082 | +67.4% |
| Distributable reserves | 133 | €65,402 | €109,483 | +€44,082 | +67.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,184 | €155,584 | +€16,400 | +11.8% |
| Amounts payable after more than one year | 17 | €2,180 | €26,730 | +€24,550 | +1126.1% |
| Financial debts | 170/4 | €2,180 | €26,730 | +€24,550 | +1126.1% |
| Amounts payable within one year | 42/48 | €137,004 | €128,854 | -€8,150 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €4,340 | €7,675 | +€3,335 | +76.9% |
| Trade debts | 44 | €9,433 | €22,661 | +€13,227 | +140.2% |
| Suppliers | 440/4 | €9,433 | €22,661 | +€13,227 | +140.2% |
| Advances received on contracts in progress | 46 | €76 | €0 | -€76 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,754 | €4,500 | -€2,254 | -33.4% |
| Taxes | 450/3 | €6,754 | €4,500 | -€2,254 | -33.4% |
| Other amounts payable | 47/48 | €116,401 | €94,019 | -€22,382 | -19.2% |
| Non-recurring operating income | 76A | - | €5,766 | +€5,766 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,277 | €26,222 | +€3,945 | +17.7% |
| Other operating charges | 640/8 | €1,140 | €1,067 | -€73 | -6.4% |
| Gross operating margin | 9900 | €107,300 | €83,394 | -€23,907 | -22.3% |
| Operating profit (loss) | 9901 | €83,883 | €56,104 | -€27,779 | -33.1% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €747 | €1,087 | +€341 | +45.6% |
| Recurring financial charges | 65 | €747 | €1,087 | +€341 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | €83,139 | €55,017 | -€28,122 | -33.8% |
| Income taxes | 67/77 | €16,905 | €10,102 | -€6,802 | -40.2% |
| Profit (loss) for the period | 9904 | €66,235 | €44,915 | -€21,320 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €66,235 | €44,915 | -€21,320 | -32.2% |
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.