SGLD: what changed
Two fiscal 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.
SGLD
Largest movements
- Cash +€36,204
up €36,204 (+48.8%), from €74,176 to €110,380
mainly Depreciation (+€33,183) and Net result for the year (+€21,020)
- Tangible fixed assets -€21,869
down €21,869 (-34.8%), from €62,858 to €40,989
of which Furniture and vehicles: -€29,410
- Receivables within one year -€5,842
down €5,842 (-65.9%), from €8,864 to €3,022
of which Other amounts receivable: -€4,205
- Profit (loss) carried forward +€21,020
up €21,020 (+19.5%), from €107,813 to €128,833
- Current portion of long-term debt -€8,676
down €8,676 (-66.4%), from €13,069 to €4,393
- Debts after one year -€4,393
no longer reported in 2025 (was €4,393)
- Gross operating margin +€8,660
up €8,660 (+15.5%), from €55,697 to €64,358
- Taxes +€2,887
up €2,887 (+68.1%), from €4,239 to €7,126
- Depreciation +€1,034
up €1,034 (+3.2%), from €32,149 to €33,183
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 | €145,899 | €154,391 | +€8,492 | +5.8% |
| Fixed assets | 21/28 | €62,858 | €40,989 | -€21,869 | -34.8% |
| Tangible fixed assets | 22/27 | €62,858 | €40,989 | -€21,869 | -34.8% |
| Plant, machinery and equipment | 23 | €6,280 | €13,822 | +€7,541 | +120.1% |
| Furniture and vehicles | 24 | €56,578 | €27,168 | -€29,410 | -52.0% |
| Current assets | 29/58 | €83,040 | €113,402 | +€30,361 | +36.6% |
| Amounts receivable within one year | 40/41 | €8,864 | €3,022 | -€5,842 | -65.9% |
| Trade receivables | 40 | €4,102 | €2,464 | -€1,638 | -39.9% |
| Other amounts receivable | 41 | €4,763 | €558 | -€4,205 | -88.3% |
| Cash at bank and in hand | 54/58 | €74,176 | €110,380 | +€36,204 | +48.8% |
| Total equity and liabilities | 10/49 | €145,899 | €154,391 | +€8,492 | +5.8% |
| Equity | 10/15 | €110,313 | €131,333 | +€21,020 | +19.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,813 | €128,833 | +€21,020 | +19.5% |
| Amounts payable | 17/49 | €35,585 | €23,058 | -€12,527 | -35.2% |
| Amounts payable after more than one year | 17 | €4,393 | - | -€4,393 | |
| Financial debts | 170/4 | €4,393 | - | -€4,393 | |
| Amounts payable within one year | 42/48 | €30,989 | €22,796 | -€8,193 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €13,069 | €4,393 | -€8,676 | -66.4% |
| Trade debts | 44 | €1,205 | €1 | -€1,204 | -99.9% |
| Suppliers | 440/4 | €1,205 | €1 | -€1,204 | -99.9% |
| Taxes, remuneration and social security | 45 | - | €1,126 | +€1,126 | |
| Taxes | 450/3 | - | €126 | +€126 | |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €16,715 | €17,276 | +€561 | +3.4% |
| Accrued charges and deferred income | 492/3 | €203 | €262 | +€59 | +28.9% |
| Remuneration, social security and pensions | 62 | €2,018 | €2,034 | +€16 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,149 | €33,183 | +€1,034 | +3.2% |
| Other operating charges | 640/8 | €751 | €677 | -€74 | -9.9% |
| Gross operating margin | 9900 | €55,697 | €64,358 | +€8,660 | +15.5% |
| Operating profit (loss) | 9901 | €20,779 | €28,463 | +€7,685 | +37.0% |
| Financial charges | 65/66B | €466 | €318 | -€148 | -31.8% |
| Recurring financial charges | 65 | €466 | €318 | -€148 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €20,313 | €28,146 | +€7,833 | +38.6% |
| Income taxes | 67/77 | €4,239 | €7,126 | +€2,887 | +68.1% |
| Profit (loss) for the period | 9904 | €16,074 | €21,020 | +€4,946 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,074 | €21,020 | +€4,946 | +30.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.