SG4 Master data Management: what changed
Two fiscal 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.
SG4 Master data Management
Largest movements
- Receivables within one year -€7,569
down €7,569 (-34.9%), from €21,712 to €14,143
of which Trade receivables: -€9,597
- Cash +€3,200
up €3,200 (+31.5%), from €10,173 to €13,373
mainly Receivables within one year (+€7,569) and Net result for the year (+€5,800)
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Reserves +€5,800
up €5,800 (+176.5%), from €3,287 to €9,087
- Trade debts -€1,456
down €1,456 (-28.8%), from €5,060 to €3,604
- Tax, wage and social debts +€1,179
up €1,179 (+11.8%), from €10,018 to €11,197
of which Taxes: +€3,469
- Gross operating margin +€4,214
up €4,214 (+77.3%), from €5,450 to €9,664
- Taxes +€1,450
up €1,450 (+77.6%), from €1,868 to €3,318
- Other operating charges +€127
new in 2025: €127
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 | €33,365 | €28,888 | -€4,477 | -13.4% |
| Formation expenses | 20 | €1,364 | €1,038 | -€326 | -23.9% |
| Current assets | 29/58 | €32,001 | €27,850 | -€4,151 | -13.0% |
| Amounts receivable within one year | 40/41 | €21,712 | €14,143 | -€7,569 | -34.9% |
| Trade receivables | 40 | €21,712 | €12,115 | -€9,597 | -44.2% |
| Other amounts receivable | 41 | - | €2,028 | +€2,028 | |
| Cash at bank and in hand | 54/58 | €10,173 | €13,373 | +€3,200 | +31.5% |
| Deferred charges and accrued income | 490/1 | €116 | €335 | +€219 | +188.4% |
| Total equity and liabilities | 10/49 | €33,365 | €28,888 | -€4,477 | -13.4% |
| Equity | 10/15 | €8,287 | €14,087 | +€5,800 | +70.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,287 | €9,087 | +€5,800 | +176.5% |
| Distributable reserves | 133 | €3,287 | €9,087 | +€5,800 | +176.5% |
| Profit (loss) carried forward | 14 | - | €0 | +€0 | |
| Amounts payable | 17/49 | €25,078 | €14,801 | -€10,277 | -41.0% |
| Amounts payable within one year | 42/48 | €25,078 | €14,801 | -€10,277 | -41.0% |
| Trade debts | 44 | €5,060 | €3,604 | -€1,456 | -28.8% |
| Suppliers | 440/4 | €5,060 | €3,604 | -€1,456 | -28.8% |
| Taxes, remuneration and social security | 45 | €10,018 | €11,197 | +€1,179 | +11.8% |
| Taxes | 450/3 | €7,728 | €11,197 | +€3,469 | +44.9% |
| Remuneration and social security | 454/9 | €2,290 | - | -€2,290 | |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €267 | €326 | +€59 | +22.1% |
| Other operating charges | 640/8 | - | €127 | +€127 | |
| Gross operating margin | 9900 | €5,450 | €9,664 | +€4,214 | +77.3% |
| Operating profit (loss) | 9901 | €5,183 | €9,211 | +€4,028 | +77.7% |
| Financial charges | 65/66B | €28 | €93 | +€65 | +230.4% |
| Recurring financial charges | 65 | €28 | €93 | +€65 | +230.4% |
| Profit (loss) for the period before taxes | 9903 | €5,155 | €9,118 | +€3,963 | +76.9% |
| Income taxes | 67/77 | €1,868 | €3,318 | +€1,450 | +77.6% |
| Profit (loss) for the period | 9904 | €3,287 | €5,800 | +€2,513 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,287 | €5,800 | +€2,513 | +76.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.