SG Trade: 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 Trade
Largest movements
- Stocks and contracts +€22,519
up €22,519 (+5.4%), from €416,353 to €438,872
- Intangible fixed assets -€10,000
down €10,000 (-70.9%), from €14,110 to €4,110
- Receivables within one year +€7,166
new in 2025: €7,166
- Cash -€6,496
down €6,496 (-56.6%), from €11,485 to €4,989
mainly Debts after one year (-€47,166) and Stocks and contracts (-€22,519)
- Profit (loss) carried forward +€50,770
up €50,770 (+42.1%), from €120,736 to €171,506
- Debts after one year -€47,166
down €47,166 (-63.2%), from €74,664 to €27,498
- Other debts +€14,079
up €14,079 (+20.5%), from €68,714 to €82,793
- Gross operating margin +€91,264
up €91,264 (+457%), from €19,956 to €111,220
- Staff costs -€6,608
down €6,608 (-20.7%), from €31,987 to €25,379
- Taxes +€3,476
new in 2025: €3,476
- Financial charges -€3,050
down €3,050 (-15.3%), from €19,954 to €16,905
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 | €459,763 | €470,367 | +€10,604 | +2.3% |
| Fixed assets | 21/28 | €31,346 | €19,277 | -€12,069 | -38.5% |
| Intangible fixed assets | 21 | €14,110 | €4,110 | -€10,000 | -70.9% |
| Tangible fixed assets | 22/27 | €5,186 | €3,117 | -€2,069 | -39.9% |
| Plant, machinery and equipment | 23 | €2,343 | €2,410 | +€67 | +2.8% |
| Furniture and vehicles | 24 | €2,843 | €708 | -€2,135 | -75.1% |
| Financial fixed assets | 28 | €12,050 | €12,050 | = | 0.0% |
| Current assets | 29/58 | €428,417 | €451,090 | +€22,673 | +5.3% |
| Stocks and contracts in progress | 3 | €416,353 | €438,872 | +€22,519 | +5.4% |
| Stocks | 30/36 | €416,353 | €438,872 | +€22,519 | +5.4% |
| Amounts receivable within one year | 40/41 | - | €7,166 | +€7,166 | |
| Trade receivables | 40 | - | €7,166 | +€7,166 | |
| Cash at bank and in hand | 54/58 | €11,485 | €4,989 | -€6,496 | -56.6% |
| Deferred charges and accrued income | 490/1 | €579 | €64 | -€515 | -89.0% |
| Total equity and liabilities | 10/49 | €459,763 | €470,367 | +€10,604 | +2.3% |
| Equity | 10/15 | €145,829 | €196,599 | +€50,770 | +34.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,493 | €6,493 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €4,633 | €4,633 | -€0 | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,736 | €171,506 | +€50,770 | +42.1% |
| Amounts payable | 17/49 | €313,934 | €273,768 | -€40,166 | -12.8% |
| Amounts payable after more than one year | 17 | €74,664 | €27,498 | -€47,166 | -63.2% |
| Financial debts | 170/4 | €74,664 | €27,498 | -€47,166 | -63.2% |
| Amounts payable within one year | 42/48 | €238,859 | €246,004 | +€7,145 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €49,992 | €47,166 | -€2,826 | -5.7% |
| Financial debts | 43 | €80,000 | €80,000 | = | 0.0% |
| Credit institutions | 430/8 | €80,000 | €80,000 | = | 0.0% |
| Trade debts | 44 | €26,830 | €27,155 | +€325 | +1.2% |
| Suppliers | 440/4 | €26,830 | €27,155 | +€325 | +1.2% |
| Taxes, remuneration and social security | 45 | €13,323 | €8,891 | -€4,432 | -33.3% |
| Taxes | 450/3 | €7,537 | €6,052 | -€1,485 | -19.7% |
| Remuneration and social security | 454/9 | €5,786 | €2,839 | -€2,947 | -50.9% |
| Other amounts payable | 47/48 | €68,714 | €82,793 | +€14,079 | +20.5% |
| Accrued charges and deferred income | 492/3 | €411 | €266 | -€145 | -35.2% |
| Remuneration, social security and pensions | 62 | €31,987 | €25,379 | -€6,608 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,844 | €13,099 | -€745 | -5.4% |
| Other operating charges | 640/8 | €961 | €1,595 | +€634 | +66.0% |
| Gross operating margin | 9900 | €19,956 | €111,220 | +€91,264 | +457% |
| Operating profit (loss) | 9901 | -€26,836 | €71,148 | +€97,984 | |
| Financial income | 75/76B | €790 | €3 | -€787 | -99.6% |
| Recurring financial income | 75 | €790 | €3 | -€787 | -99.6% |
| Financial charges | 65/66B | €19,954 | €16,905 | -€3,050 | -15.3% |
| Recurring financial charges | 65 | €19,954 | €16,905 | -€3,050 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,000 | €54,246 | +€100,246 | |
| Income taxes | 67/77 | - | €3,476 | +€3,476 | |
| Profit (loss) for the period | 9904 | -€46,000 | €50,770 | +€96,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,000 | €50,770 | +€96,770 |
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 14 October 2026 via checked.be.