SGH GROUP: 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.
SGH GROUP
Largest movements
- Cash +€10,810
up €10,810 (+190%), from €5,692 to €16,502
mainly Depreciation (+€13,412) and Tax, wage and social debts (+€8,625)
- Tangible fixed assets -€8,061
down €8,061 (-43.2%), from €18,646 to €10,585
of which Furniture and vehicles: -€7,695
- Deferred charges and accrued income +€934
up €934 (+7.4%), from €12,562 to €13,495
- Tax, wage and social debts +€8,625
up €8,625 (+70.5%), from €12,229 to €20,855
of which Remuneration and social security: +€4,600
- Trade debts -€7,977
down €7,977 (-42.1%), from €18,934 to €10,957
- Profit (loss) carried forward +€6,615
up €6,615 (+22.3%), from €29,649 to €36,264
- Other debts -€2,905
down €2,905 (-11.7%), from €24,803 to €21,898
- Gross operating margin +€10,359
up €10,359 (+45.4%), from €22,826 to €33,185
- Depreciation +€3,712
up €3,712 (+38.3%), from €9,700 to €13,412
- Other operating charges +€3,285
up €3,285 (+168%), from €1,953 to €5,238
- Taxes +€2,816
up €2,816 (+133%), from €2,114 to €4,930
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 | €87,615 | €92,164 | +€4,549 | +5.2% |
| Fixed assets | 21/28 | €32,646 | €24,585 | -€8,061 | -24.7% |
| Tangible fixed assets | 22/27 | €18,646 | €10,585 | -€8,061 | -43.2% |
| Plant, machinery and equipment | 23 | €824 | €458 | -€366 | -44.4% |
| Furniture and vehicles | 24 | €17,822 | €10,127 | -€7,695 | -43.2% |
| Financial fixed assets | 28 | €14,000 | €14,000 | = | 0.0% |
| Current assets | 29/58 | €54,969 | €67,579 | +€12,610 | +22.9% |
| Amounts receivable within one year | 40/41 | €36,715 | €37,582 | +€866 | +2.4% |
| Trade receivables | 40 | €36,715 | €37,582 | +€866 | +2.4% |
| Cash at bank and in hand | 54/58 | €5,692 | €16,502 | +€10,810 | +190% |
| Deferred charges and accrued income | 490/1 | €12,562 | €13,495 | +€934 | +7.4% |
| Total equity and liabilities | 10/49 | €87,615 | €92,164 | +€4,549 | +5.2% |
| Equity | 10/15 | €31,649 | €38,264 | +€6,615 | +20.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,649 | €36,264 | +€6,615 | +22.3% |
| Amounts payable | 17/49 | €55,967 | €53,901 | -€2,066 | -3.7% |
| Amounts payable within one year | 42/48 | €55,967 | €53,711 | -€2,256 | -4.0% |
| Trade debts | 44 | €18,934 | €10,957 | -€7,977 | -42.1% |
| Suppliers | 440/4 | €18,934 | €10,957 | -€7,977 | -42.1% |
| Taxes, remuneration and social security | 45 | €12,229 | €20,855 | +€8,625 | +70.5% |
| Taxes | 450/3 | €12,229 | €16,255 | +€4,025 | +32.9% |
| Remuneration and social security | 454/9 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €24,803 | €21,898 | -€2,905 | -11.7% |
| Accrued charges and deferred income | 492/3 | - | €190 | +€190 | |
| Non-recurring operating income | 76A | €838 | - | -€838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,700 | €13,412 | +€3,712 | +38.3% |
| Other operating charges | 640/8 | €1,953 | €5,238 | +€3,285 | +168% |
| Non-recurring operating charges | 66A | €3,000 | €3,000 | = | 0.0% |
| Gross operating margin | 9900 | €22,826 | €33,185 | +€10,359 | +45.4% |
| Operating profit (loss) | 9901 | €8,172 | €11,535 | +€3,362 | +41.1% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €1 | -€10 | -€10 | |
| Recurring financial charges | 65 | €1 | -€10 | -€10 | |
| Profit (loss) for the period before taxes | 9903 | €8,191 | €11,545 | +€3,354 | +40.9% |
| Income taxes | 67/77 | €2,114 | €4,930 | +€2,816 | +133% |
| Profit (loss) for the period | 9904 | €6,077 | €6,615 | +€538 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,077 | €6,615 | +€538 | +8.9% |
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.