SGI: 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.
SGI
Largest movements
- Intangible fixed assets -€91,388
down €91,388 (-13.8%), from €660,236 to €568,848
- Tangible fixed assets -€34,045
down €34,045 (-17.4%), from €196,110 to €162,065
of which Other tangible fixed assets: -€24,621
- Debts after one year -€75,722
down €75,722 (-14.2%), from €532,573 to €456,851
of which Financial debts: -€75,722
- Other debts -€72,025
down €72,025 (-99.0%), from €72,775 to €750
- Short-term financial debts +€18,794
new in 2024: €18,794
- Reserves +€18,108
up €18,108 (+3.9%), from €465,697 to €483,805
- Staff costs +€35,227
up €35,227 (+12.2%), from €288,176 to €323,403
- Taxes -€15,313
down €15,313 (-43.7%), from €35,034 to €19,721
- Financial income -€11,191
down €11,191 (-99.9%), from €11,207 to €16
- Gross operating margin -€8,710
down €8,710 (-1.7%), from €521,755 to €513,045
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,564,358 | €1,444,763 | -€119,595 | -7.6% |
| Formation expenses | 20 | €13,328 | €9,996 | -€3,332 | -25.0% |
| Fixed assets | 21/28 | €885,017 | €761,834 | -€123,183 | -13.9% |
| Intangible fixed assets | 21 | €660,236 | €568,848 | -€91,388 | -13.8% |
| Tangible fixed assets | 22/27 | €196,110 | €162,065 | -€34,045 | -17.4% |
| Furniture and vehicles | 24 | €17,394 | €7,970 | -€9,424 | -54.2% |
| Other tangible fixed assets | 26 | €178,717 | €154,095 | -€24,621 | -13.8% |
| Financial fixed assets | 28 | €28,671 | €30,921 | +€2,250 | +7.8% |
| Current assets | 29/58 | €666,012 | €672,933 | +€6,920 | +1.0% |
| Amounts receivable after more than one year | 29 | €548,258 | €541,269 | -€6,990 | -1.3% |
| Trade receivables | 290 | - | €541,269 | +€541,269 | |
| Other amounts receivable | 291 | €548,258 | - | -€548,258 | |
| Amounts receivable within one year | 40/41 | €107,367 | €110,914 | +€3,547 | +3.3% |
| Trade receivables | 40 | €18,805 | €66,090 | +€47,285 | +251.5% |
| Other amounts receivable | 41 | €88,562 | €44,824 | -€43,738 | -49.4% |
| Cash at bank and in hand | 54/58 | €377 | - | -€377 | |
| Deferred charges and accrued income | 490/1 | €10,010 | €20,750 | +€10,740 | +107.3% |
| Total equity and liabilities | 10/49 | €1,564,358 | €1,444,763 | -€119,595 | -7.6% |
| Equity | 10/15 | €480,177 | €498,285 | +€18,108 | +3.8% |
| Contributions | 10/11 | €14,480 | €14,480 | = | 0.0% |
| Reserves | 13 | €465,697 | €483,805 | +€18,108 | +3.9% |
| Distributable reserves | 133 | €465,697 | €483,805 | +€18,108 | +3.9% |
| Amounts payable | 17/49 | €1,084,181 | €946,478 | -€137,703 | -12.7% |
| Amounts payable after more than one year | 17 | €532,573 | €456,851 | -€75,722 | -14.2% |
| Financial debts | 170/4 | €403,711 | €327,989 | -€75,722 | -18.8% |
| Other amounts payable | 178/9 | €128,862 | €128,862 | = | 0.0% |
| Amounts payable within one year | 42/48 | €487,615 | €422,258 | -€65,357 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €108,926 | €96,221 | -€12,705 | -11.7% |
| Financial debts | 43 | - | €18,794 | +€18,794 | |
| Credit institutions | 430/8 | - | €18,794 | +€18,794 | |
| Trade debts | 44 | €223,723 | €224,765 | +€1,042 | +0.5% |
| Suppliers | 440/4 | €223,723 | €224,765 | +€1,042 | +0.5% |
| Taxes, remuneration and social security | 45 | €82,191 | €81,728 | -€463 | -0.6% |
| Taxes | 450/3 | €46,979 | €50,298 | +€3,319 | +7.1% |
| Remuneration and social security | 454/9 | €35,212 | €31,431 | -€3,781 | -10.7% |
| Other amounts payable | 47/48 | €72,775 | €750 | -€72,025 | -99.0% |
| Accrued charges and deferred income | 492/3 | €63,993 | €67,368 | +€3,375 | +5.3% |
| Remuneration, social security and pensions | 62 | €288,176 | €323,403 | +€35,227 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,410 | €131,013 | -€3,396 | -2.5% |
| Other operating charges | 640/8 | €8,911 | €9,588 | +€676 | +7.6% |
| Gross operating margin | 9900 | €521,755 | €513,045 | -€8,710 | -1.7% |
| Operating profit (loss) | 9901 | €90,259 | €49,041 | -€41,218 | -45.7% |
| Financial income | 75/76B | €11,207 | €16 | -€11,191 | -99.9% |
| Recurring financial income | 75 | €11,207 | €16 | -€11,191 | -99.9% |
| Financial charges | 65/66B | €13,492 | €11,227 | -€2,264 | -16.8% |
| Recurring financial charges | 65 | €13,492 | €11,227 | -€2,264 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €87,974 | €37,829 | -€50,145 | -57.0% |
| Income taxes | 67/77 | €35,034 | €19,721 | -€15,313 | -43.7% |
| Profit (loss) for the period | 9904 | €52,940 | €18,108 | -€34,832 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,940 | €18,108 | -€34,832 | -65.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.