SGIC: 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.
SGIC
Largest movements
- Receivables within one year -€201,873
down €201,873 (-49.1%), from €411,269 to €209,396
of which Other amounts receivable: -€182,411
- Cash +€196,656
up €196,656 (+2995.7%), from €6,565 to €203,221
mainly Receivables within one year (+€201,873) and Net result for the year (+€24,183)
- Other debts -€32,366
down €32,366 (-24.6%), from €131,545 to €99,179
- Reserves +€24,000
up €24,000 (+9.7%), from €247,480 to €271,480
- Gross operating margin -€18,847
down €18,847 (-40.5%), from €46,510 to €27,663
- Financial income +€4,466
up €4,466 (+105.4%), from €4,238 to €8,704
- Taxes -€4,420
down €4,420 (-32.0%), from €13,807 to €9,387
- Financial charges +€894
up €894 (+366.9%), from €244 to €1,138
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 | €443,840 | €442,033 | -€1,807 | -0.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €26,007 | €29,416 | +€3,409 | +13.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €740 | €4,150 | +€3,409 | +460.4% |
| Furniture and vehicles | 24 | €740 | €4,150 | +€3,409 | +460.4% |
| Financial fixed assets | 28 | €25,267 | €25,267 | = | 0.0% |
| Current assets | 29/58 | €417,833 | €412,617 | -€5,217 | -1.2% |
| Amounts receivable within one year | 40/41 | €411,269 | €209,396 | -€201,873 | -49.1% |
| Trade receivables | 40 | €26,732 | €7,270 | -€19,462 | -72.8% |
| Other amounts receivable | 41 | €384,537 | €202,126 | -€182,411 | -47.4% |
| Cash at bank and in hand | 54/58 | €6,565 | €203,221 | +€196,656 | +2995.7% |
| Total equity and liabilities | 10/49 | €443,840 | €442,033 | -€1,807 | -0.4% |
| Equity | 10/15 | €285,091 | €309,273 | +€24,183 | +8.5% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €247,480 | €271,480 | +€24,000 | +9.7% |
| Distributable reserves | 133 | €247,480 | €271,480 | +€24,000 | +9.7% |
| Profit (loss) carried forward | 14 | €23,351 | €23,533 | +€183 | +0.8% |
| Amounts payable | 17/49 | €158,750 | €132,760 | -€25,990 | -16.4% |
| Amounts payable within one year | 42/48 | €158,362 | €132,360 | -€26,003 | -16.4% |
| Financial debts | 43 | €1,875 | €1,875 | = | 0.0% |
| Other loans | 439 | €1,875 | €1,875 | = | 0.0% |
| Trade debts | 44 | €4,974 | €8,546 | +€3,572 | +71.8% |
| Suppliers | 440/4 | €4,974 | €8,546 | +€3,572 | +71.8% |
| Taxes, remuneration and social security | 45 | €19,969 | €22,760 | +€2,791 | +14.0% |
| Taxes | 450/3 | €19,969 | €17,597 | -€2,372 | -11.9% |
| Remuneration and social security | 454/9 | - | €5,163 | +€5,163 | |
| Other amounts payable | 47/48 | €131,545 | €99,179 | -€32,366 | -24.6% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €998 | €1,339 | +€342 | +34.2% |
| Other operating charges | 640/8 | €448 | €320 | -€128 | -28.6% |
| Gross operating margin | 9900 | €46,510 | €27,663 | -€18,847 | -40.5% |
| Operating profit (loss) | 9901 | €45,064 | €26,003 | -€19,061 | -42.3% |
| Financial income | 75/76B | €4,238 | €8,704 | +€4,466 | +105.4% |
| Recurring financial income | 75 | €4,238 | €8,704 | +€4,466 | +105.4% |
| Financial charges | 65/66B | €244 | €1,138 | +€894 | +366.9% |
| Recurring financial charges | 65 | €244 | €1,138 | +€894 | +366.9% |
| Profit (loss) for the period before taxes | 9903 | €49,058 | €33,569 | -€15,489 | -31.6% |
| Income taxes | 67/77 | €13,807 | €9,387 | -€4,420 | -32.0% |
| Profit (loss) for the period | 9904 | €35,251 | €24,183 | -€11,068 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,251 | €24,183 | -€11,068 | -31.4% |
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 11 October 2026 via checked.be.