SGLV: 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.
SGLV
Largest movements
- Cash +€17,318
up €17,318 (+21.4%), from €80,860 to €98,178
mainly Other debts (+€71,009) and Net result for the year (+€55,451)
- Receivables within one year +€8,032
up €8,032 (+35.3%), from €22,782 to €30,813
of which Other amounts receivable: +€5,358
- Tangible fixed assets +€2,406
up €2,406 (+155.6%), from €1,547 to €3,953
of which Furniture and vehicles: +€2,862
- Other debts +€71,009
up €71,009 (+228.8%), from €31,041 to €102,050
- Profit (loss) carried forward -€46,599
no longer reported in 2025 (was €46,599)
- Tax, wage and social debts +€4,462
up €4,462 (+25.8%), from €17,300 to €21,762
- Gross operating margin -€24,169
down €24,169 (-23.9%), from €101,082 to €76,913
- Taxes -€1,232
down €1,232 (-5.7%), from €21,789 to €20,557
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 | €107,573 | €135,293 | +€27,721 | +25.8% |
| Fixed assets | 21/28 | €1,547 | €3,953 | +€2,406 | +155.6% |
| Tangible fixed assets | 22/27 | €1,547 | €3,953 | +€2,406 | +155.6% |
| Plant, machinery and equipment | 23 | €1,221 | €766 | -€456 | -37.3% |
| Furniture and vehicles | 24 | €326 | €3,188 | +€2,862 | +879.1% |
| Current assets | 29/58 | €106,026 | €131,340 | +€25,314 | +23.9% |
| Amounts receivable within one year | 40/41 | €22,782 | €30,813 | +€8,032 | +35.3% |
| Trade receivables | 40 | €22,655 | €25,329 | +€2,674 | +11.8% |
| Other amounts receivable | 41 | €126 | €5,484 | +€5,358 | +4237.9% |
| Cash at bank and in hand | 54/58 | €80,860 | €98,178 | +€17,318 | +21.4% |
| Deferred charges and accrued income | 490/1 | €2,384 | €2,349 | -€35 | -1.5% |
| Total equity and liabilities | 10/49 | €107,573 | €135,293 | +€27,721 | +25.8% |
| Equity | 10/15 | €56,599 | €10,000 | -€46,599 | -82.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,599 | - | -€46,599 | |
| Amounts payable | 17/49 | €50,973 | €125,293 | +€74,320 | +145.8% |
| Amounts payable within one year | 42/48 | €50,973 | €125,293 | +€74,320 | +145.8% |
| Trade debts | 44 | €2,632 | €1,481 | -€1,151 | -43.7% |
| Suppliers | 440/4 | €2,632 | €1,481 | -€1,151 | -43.7% |
| Taxes, remuneration and social security | 45 | €17,300 | €21,762 | +€4,462 | +25.8% |
| Taxes | 450/3 | €17,300 | €21,762 | +€4,462 | +25.8% |
| Other amounts payable | 47/48 | €31,041 | €102,050 | +€71,009 | +228.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €621 | €810 | +€188 | +30.3% |
| Other operating charges | 640/8 | €788 | €812 | +€25 | +3.1% |
| Gross operating margin | 9900 | €101,082 | €76,913 | -€24,169 | -23.9% |
| Operating profit (loss) | 9901 | €99,673 | €75,291 | -€24,383 | -24.5% |
| Financial income | 75/76B | €50 | €989 | +€939 | +1895.5% |
| Recurring financial income | 75 | €50 | €989 | +€939 | +1895.5% |
| Financial charges | 65/66B | €367 | €272 | -€95 | -25.8% |
| Recurring financial charges | 65 | €367 | €272 | -€95 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €99,356 | €76,007 | -€23,348 | -23.5% |
| Income taxes | 67/77 | €21,789 | €20,557 | -€1,232 | -5.7% |
| Profit (loss) for the period | 9904 | €77,567 | €55,451 | -€22,116 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €77,567 | €55,451 | -€22,116 | -28.5% |
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.