SGAUDE MANAGEMENT: 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.
SGAUDE MANAGEMENT
Largest movements
- Financial fixed assets +€137,500
new in 2025: €137,500
- Receivables within one year -€130,689
down €130,689 (-89.0%), from €146,890 to €16,201
of which Other amounts receivable: -€131,221
- Cash +€8,550
up €8,550 (+27.9%), from €30,612 to €39,162
mainly Receivables within one year (+€130,689) and Net result for the year (+€54,238)
- Tangible fixed assets +€2,191
up €2,191 (+131%), from €1,676 to €3,867
- Reserves +€54,000
up €54,000 (+150%), from €36,000 to €90,000
- Other debts -€33,895
down €33,895 (-35.4%), from €95,734 to €61,839
- Debts after one year -€11,686
down €11,686 (-66.0%), from €17,707 to €6,022
- Tax, wage and social debts +€6,959
up €6,959 (+53.7%), from €12,957 to €19,916
- Gross operating margin +€28,627
up €28,627 (+57.5%), from €49,812 to €78,439
- Taxes +€9,497
up €9,497 (+103%), from €9,256 to €18,754
- Other operating charges +€1,393
up €1,393 (+138%), from €1,009 to €2,402
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 | €181,172 | €198,857 | +€17,685 | +9.8% |
| Fixed assets | 21/28 | €1,676 | €141,367 | +€139,691 | +8,334% |
| Tangible fixed assets | 22/27 | €1,676 | €3,867 | +€2,191 | +131% |
| Furniture and vehicles | 24 | €1,676 | €3,867 | +€2,191 | +131% |
| Financial fixed assets | 28 | - | €137,500 | +€137,500 | |
| Current assets | 29/58 | €179,496 | €57,490 | -€122,006 | -68.0% |
| Amounts receivable within one year | 40/41 | €146,890 | €16,201 | -€130,689 | -89.0% |
| Trade receivables | 40 | €15,646 | €16,179 | +€533 | +3.4% |
| Other amounts receivable | 41 | €131,244 | €22 | -€131,221 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,612 | €39,162 | +€8,550 | +27.9% |
| Deferred charges and accrued income | 490/1 | €1,994 | €2,126 | +€133 | +6.7% |
| Total equity and liabilities | 10/49 | €181,172 | €198,857 | +€17,685 | +9.8% |
| Equity | 10/15 | €41,074 | €95,312 | +€54,238 | +132% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,000 | €90,000 | +€54,000 | +150% |
| Distributable reserves | 133 | €36,000 | €90,000 | +€54,000 | +150% |
| Profit (loss) carried forward | 14 | €74 | €312 | +€238 | +323% |
| Amounts payable | 17/49 | €140,098 | €103,545 | -€36,553 | -26.1% |
| Amounts payable after more than one year | 17 | €17,707 | €6,022 | -€11,686 | -66.0% |
| Financial debts | 170/4 | €17,707 | €6,022 | -€11,686 | -66.0% |
| Amounts payable within one year | 42/48 | €122,391 | €97,523 | -€24,868 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €11,224 | €11,686 | +€461 | +4.1% |
| Trade debts | 44 | €2,476 | €4,083 | +€1,607 | +64.9% |
| Suppliers | 440/4 | €2,476 | €4,083 | +€1,607 | +64.9% |
| Taxes, remuneration and social security | 45 | €12,957 | €19,916 | +€6,959 | +53.7% |
| Taxes | 450/3 | €12,957 | €19,916 | +€6,959 | +53.7% |
| Other amounts payable | 47/48 | €95,734 | €61,839 | -€33,895 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €908 | €648 | -€259 | -28.6% |
| Other operating charges | 640/8 | €1,009 | €2,402 | +€1,393 | +138% |
| Gross operating margin | 9900 | €49,812 | €78,439 | +€28,627 | +57.5% |
| Operating profit (loss) | 9901 | €47,895 | €75,389 | +€27,494 | +57.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,671 | €2,397 | -€274 | -10.3% |
| Recurring financial charges | 65 | €2,671 | €2,397 | -€274 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €45,225 | €72,992 | +€27,767 | +61.4% |
| Income taxes | 67/77 | €9,256 | €18,754 | +€9,497 | +103% |
| Profit (loss) for the period | 9904 | €35,968 | €54,238 | +€18,270 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,968 | €54,238 | +€18,270 | +50.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.