SGC: 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.
What changed
SGC
NACE 43.211, General electrical installation work
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€432,125
2024 · -€16,468+€448,593
Equity
€5.8m
2024 · €5.8m+€32,125
Cash
€48,026
2024 · €63,546-€15,520
Balance sheet total
€13.4m
2024 · €13.8m-€424,252
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+114.9%), from €945,241 to €2.0m
of which Plant, machinery and equipment: +€1.4m
- Stocks and contracts -€598,725
down €598,725 (-8.2%), from €7.3m to €6.7m
- Intangible fixed assets -€539,471
down €539,471 (-27.2%), from €2.0m to €1.4m
- Receivables within one year -€354,527
down €354,527 (-10.2%), from €3.5m to €3.1m
of which Other amounts receivable: -€404,163
Equity and liabilities
- Other debts -€1.6m
down €1.6m (-37.7%), from €4.3m to €2.7m
- Debts after one year +€879,398
up €879,398 (+67.7%), from €1.3m to €2.2m
- Short-term financial debts -€258,095
down €258,095 (-75.1%), from €343,628 to €85,533
- Advances received +€234,400
up €234,400 (+131.3%), from €178,552 to €412,952
- Tax, wage and social debts +€232,389
up €232,389 (+115.8%), from €200,673 to €433,062
of which Taxes: +€199,008
Income statement
- Services and other goods -€520,451
down €520,451 (-12.6%), from €4.1m to €3.6m
- Other operating income +€424,891
up €424,891 (+1774.1%), from €23,949 to €448,840
- Goods and materials -€256,550
down €256,550 (-2.7%), from €9.5m to €9.3m
of which Purchases: -€824,549
- Depreciation +€231,266
up €231,266 (+26.2%), from €882,317 to €1.1m
- Taxes +€163,839
up €163,839 (+978.3%), from €16,747 to €180,586
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.
Result 2024
-€16,468
Turnover
-€158,926
Other operating income
+€424,891
Goods and materials
+€256,550
Services and other goods
+€520,451
Staff costs
-€13,648
Depreciation
-€231,266
Other operating charges
-€1,102
Other operating items
-€130,966
Financial income
+€1,868
Financial charges
-€55,422
Taxes
-€163,839
Result 2025
€432,125
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.
From operations
+€1.3m
Investment
-€1.7m
Financing
+€349,669
Cash 2024
€63,546
From operations (derived)
+€1.3m
Net result for the year
+€432,125
Depreciation
+€1.1m
Stocks and contracts
+€598,725
Receivables within one year
+€354,527
Smaller working-capital items
+€3,805
Trade debts
-€64,076
Tax, wage and social debts
+€232,389
Advances received
+€234,400
Other debts
-€1.6m
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€349,669
Debts after one year
+€879,398
Current portion of long-term debt
+€128,367
Short-term financial debts
-€258,095
Contributions, distributions and other
-€400,000
Cash 2025
€48,026
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,793,855 | €13,369,603 | -€424,252 | -3.1% |
| Fixed assets | 21/28 | €2,925,418 | €3,472,190 | +€546,772 | +18.7% |
| Intangible fixed assets | 21 | €1,980,177 | €1,440,706 | -€539,471 | -27.2% |
| Tangible fixed assets | 22/27 | €945,241 | €2,031,484 | +€1.1m | +114.9% |
| Plant, machinery and equipment | 23 | €627,833 | €1,990,235 | +€1.4m | +217.0% |
| Furniture and vehicles | 24 | €681 | €523 | -€158 | -23.2% |
| Other tangible fixed assets | 26 | €46,727 | €40,726 | -€6,001 | -12.8% |
| Assets under construction and advance payments | 27 | €270,000 | - | -€270,000 | |
| Current assets | 29/58 | €10,868,436 | €9,897,413 | -€971,023 | -8.9% |
| Stocks and contracts in progress | 3 | €7,303,264 | €6,704,539 | -€598,725 | -8.2% |
| Stocks | 30/36 | €7,303,264 | €6,704,539 | -€598,725 | -8.2% |
| Raw materials and consumables | 30/31 | €7,303,264 | €6,704,539 | -€598,725 | -8.2% |
| Amounts receivable within one year | 40/41 | €3,489,091 | €3,134,564 | -€354,527 | -10.2% |
| Trade receivables | 40 | €2,709,362 | €2,758,998 | +€49,636 | +1.8% |
| Other amounts receivable | 41 | €779,730 | €375,566 | -€404,163 | -51.8% |
| Cash at bank and in hand | 54/58 | €63,546 | €48,026 | -€15,520 | -24.4% |
| Deferred charges and accrued income | 490/1 | €12,535 | €10,284 | -€2,251 | -18.0% |
| Total equity and liabilities | 10/49 | €13,793,855 | €13,369,603 | -€424,252 | -3.1% |
| Equity | 10/15 | €5,781,113 | €5,813,238 | +€32,125 | +0.6% |
| Contributions | 10/11 | €1,250,200 | €1,250,200 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Contributions outside capital | 11 | €200 | €200 | = | 0.0% |
| Share premium | 1100/10 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €311,398 | €311,398 | = | 0.0% |
| Non-distributable reserves | 130/1 | €125,000 | €125,000 | = | 0.0% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Distributable reserves | 133 | €186,398 | €186,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,219,516 | €4,251,640 | +€32,125 | +0.8% |
| Amounts payable | 17/49 | €8,012,742 | €7,556,365 | -€456,376 | -5.7% |
| Amounts payable after more than one year | 17 | €1,299,042 | €2,178,440 | +€879,398 | +67.7% |
| Financial debts | 170/4 | €1,299,042 | €2,178,440 | +€879,398 | +67.7% |
| Credit institutions | 173 | €1,299,042 | €2,178,440 | +€879,398 | +67.7% |
| Amounts payable within one year | 42/48 | €6,708,661 | €5,371,333 | -€1.3m | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €665,500 | €793,867 | +€128,367 | +19.3% |
| Financial debts | 43 | €343,628 | €85,533 | -€258,095 | -75.1% |
| Credit institutions | 430/8 | €343,628 | €85,533 | -€258,095 | -75.1% |
| Trade debts | 44 | €1,050,689 | €986,613 | -€64,076 | -6.1% |
| Suppliers | 440/4 | €1,050,689 | €986,613 | -€64,076 | -6.1% |
| Advances received on contracts in progress | 46 | €178,552 | €412,952 | +€234,400 | +131.3% |
| Taxes, remuneration and social security | 45 | €200,673 | €433,062 | +€232,389 | +115.8% |
| Taxes | 450/3 | €26,110 | €225,117 | +€199,008 | +762.2% |
| Remuneration and social security | 454/9 | €174,563 | €207,945 | +€33,382 | +19.1% |
| Other amounts payable | 47/48 | €4,269,619 | €2,659,307 | -€1.6m | -37.7% |
| Accrued charges and deferred income | 492/3 | €5,039 | €6,593 | +€1,554 | +30.8% |
| Operating income | 70/76A | €16,034,664 | €16,102,975 | +€68,311 | +0.4% |
| Turnover | 70 | €15,809,590 | €15,650,664 | -€158,926 | -1.0% |
| Own construction capitalised | 72 | €201,125 | - | -€201,125 | |
| Other operating income | 74 | €23,949 | €448,840 | +€424,891 | +1774.1% |
| Non-recurring operating income | 76A | - | €3,471 | +€3,471 | |
| Operating charges | 60/66A | €15,823,454 | €15,225,780 | -€597,674 | -3.8% |
| Goods for resale, raw materials and consumables | 60 | €9,512,749 | €9,256,199 | -€256,550 | -2.7% |
| Purchases | 600/8 | €9,482,023 | €8,657,474 | -€824,549 | -8.7% |
| Change in stocks: decrease (increase) | 609 | €30,726 | €598,725 | +€567,999 | +1848.6% |
| Services and other goods | 61 | €4,115,975 | €3,595,524 | -€520,451 | -12.6% |
| Remuneration, social security and pensions | 62 | €1,241,784 | €1,255,431 | +€13,648 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €882,317 | €1,113,583 | +€231,266 | +26.2% |
| Other operating charges | 640/8 | €3,941 | €5,043 | +€1,102 | +28.0% |
| Non-recurring operating charges | 66A | €66,688 | - | -€66,688 | |
| Operating profit (loss) | 9901 | €211,209 | €877,194 | +€665,985 | +315.3% |
| Financial income | 75/76B | €2,112 | €3,980 | +€1,868 | +88.5% |
| Recurring financial income | 75 | €2,112 | €3,980 | +€1,868 | +88.5% |
| Income from financial fixed assets | 750 | €976 | - | -€976 | |
| Other financial income | 752/9 | €1,136 | €3,980 | +€2,844 | +250.4% |
| Financial charges | 65/66B | €213,041 | €268,464 | +€55,422 | +26.0% |
| Recurring financial charges | 65 | €213,041 | €268,464 | +€55,422 | +26.0% |
| Debt charges | 650 | €213,040 | €267,930 | +€54,890 | +25.8% |
| Other financial charges | 652/9 | €2 | €534 | +€532 | +32261.8% |
| Profit (loss) for the period before taxes | 9903 | €280 | €612,711 | +€612,432 | +219109.0% |
| Income taxes | 67/77 | €16,747 | €180,586 | +€163,839 | +978.3% |
| Taxes | 670/3 | €16,747 | €180,586 | +€163,839 | +978.3% |
| Profit (loss) for the period | 9904 | -€16,468 | €432,125 | +€448,593 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,468 | €432,125 | +€448,593 |
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 9 October 2026 via checked.be.