SGNPST: 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.
What changed
SGNPST
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€786,753
2024 · -€2.7m+€3.5m
Equity
€37.4m
2024 · €36.6m+€786,753
Cash
€14,661
2024 · €312,303-€297,642
Balance sheet total
€83.0m
2024 · €80.9m+€2.1m
Largest movements
Assets
- Financial fixed assets +€1.9m
up €1.9m (+2.3%), from €80.0m to €81.9m
of which Other financial fixed assets: +€1.9m
Equity and liabilities
- Debts after one year +€6.2m
up €6.2m (+20.6%), from €30.0m to €36.2m
- Other debts -€2.7m
down €2.7m (-34.3%), from €7.8m to €5.1m
- Current portion of long-term debt -€1.7m
down €1.7m (-33.3%), from €5.0m to €3.3m
- Accrued charges and deferred income -€889,222
down €889,222 (-68.2%), from €1.3m to €414,173
Income statement
- Financial income +€4.0m
new in 2025: €4.0m
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.
Result 2024
-€2.7m
Other operating charges
-€11
Other operating items
-€202,143
Financial income
+€4.0m
Financial charges
-€271,256
Result 2025
€786,753
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.
From operations
-€3.0m
Investment
-€1.9m
Financing
+€4.6m
Cash 2024
€312,303
From operations (derived)
-€3.0m
Net result for the year
+€786,753
Receivables within one year
-€552,703
Trade debts
+€314,378
Other debts
-€2.7m
Accrued charges and deferred income
-€889,222
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€1.9m
Financing
+€4.6m
Debts after one year
+€6.2m
Current portion of long-term debt
-€1.7m
Short-term financial debts
+€103,646
Cash 2025
€14,661
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,902,425 | €83,034,153 | +€2.1m | +2.6% |
| Fixed assets | 21/28 | €80,000,000 | €81,876,667 | +€1.9m | +2.3% |
| Financial fixed assets | 28 | €80,000,000 | €81,876,667 | +€1.9m | +2.3% |
| Affiliated companies | 280/1 | €80,000,000 | €80,000,000 | = | 0.0% |
| Participating interests | 280 | €80,000,000 | €80,000,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €1,876,667 | +€1.9m | |
| Amounts receivable and cash guarantees | 285/8 | - | €1,876,667 | +€1.9m | |
| Current assets | 29/58 | €902,425 | €1,157,486 | +€255,061 | +28.3% |
| Amounts receivable within one year | 40/41 | €590,122 | €1,142,825 | +€552,703 | +93.7% |
| Trade receivables | 40 | €333,647 | €706,276 | +€372,629 | +111.7% |
| Other amounts receivable | 41 | €256,475 | €436,549 | +€180,074 | +70.2% |
| Cash at bank and in hand | 54/58 | €312,303 | €14,661 | -€297,642 | -95.3% |
| Total equity and liabilities | 10/49 | €80,902,425 | €83,034,153 | +€2.1m | +2.6% |
| Equity | 10/15 | €36,614,135 | €37,400,888 | +€786,753 | +2.1% |
| Contributions | 10/11 | €42,635,000 | €42,635,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,020,865 | -€5,234,112 | +€786,753 | +13.1% |
| Amounts payable | 17/49 | €44,288,290 | €45,633,265 | +€1.3m | +3.0% |
| Amounts payable after more than one year | 17 | €30,000,000 | €36,166,667 | +€6.2m | +20.6% |
| Financial debts | 170/4 | €30,000,000 | €36,166,667 | +€6.2m | +20.6% |
| Subordinated loans | 170 | - | €9,500,000 | +€9.5m | |
| Credit institutions | 173 | €30,000,000 | €26,666,667 | -€3.3m | -11.1% |
| Amounts payable within one year | 42/48 | €12,984,895 | €9,052,425 | -€3.9m | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €5,000,000 | €3,333,333 | -€1.7m | -33.3% |
| Financial debts | 43 | - | €103,646 | +€103,646 | |
| Credit institutions | 430/8 | - | €103,646 | +€103,646 | |
| Trade debts | 44 | €171,068 | €485,446 | +€314,378 | +183.8% |
| Suppliers | 440/4 | €171,068 | €485,446 | +€314,378 | +183.8% |
| Other amounts payable | 47/48 | €7,813,827 | €5,130,000 | -€2.7m | -34.3% |
| Accrued charges and deferred income | 492/3 | €1,303,395 | €414,173 | -€889,222 | -68.2% |
| Operating income | 70/76A | €1,012,498 | €1,301,093 | +€288,595 | +28.5% |
| Other operating income | 74 | €1,012,498 | €1,301,093 | +€288,595 | +28.5% |
| Operating charges | 60/66A | €1,065,488 | €1,556,237 | +€490,749 | +46.1% |
| Services and other goods | 61 | €1,065,272 | €1,556,010 | +€490,738 | +46.1% |
| Other operating charges | 640/8 | €216 | €227 | +€11 | +5.1% |
| Operating profit (loss) | 9901 | -€52,990 | -€255,144 | -€202,154 | -381.5% |
| Financial income | 75/76B | - | €4,000,000 | +€4.0m | |
| Recurring financial income | 75 | - | €4,000,000 | +€4.0m | |
| Income from financial fixed assets | 750 | - | €4,000,000 | +€4.0m | |
| Financial charges | 65/66B | €2,686,847 | €2,958,103 | +€271,256 | +10.1% |
| Recurring financial charges | 65 | €2,686,847 | €2,958,103 | +€271,256 | +10.1% |
| Debt charges | 650 | €2,685,757 | €2,956,432 | +€270,675 | +10.1% |
| Other financial charges | 652/9 | €1,090 | €1,671 | +€581 | +53.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,739,837 | €786,753 | +€3.5m | |
| Profit (loss) for the period | 9904 | -€2,739,837 | €786,753 | +€3.5m | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,739,837 | €786,753 | +€3.5m |
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 2 October 2026 via checked.be.