SGOL: 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.
SGOL
Largest movements
- Receivables within one year +€36,584
up €36,584 (+183.0%), from €19,995 to €56,579
of which Trade receivables: +€36,272
- Cash +€35,718
up €35,718 (+98.6%), from €36,209 to €71,927
mainly Depreciation (+€49,460) and Net result for the year (+€49,043)
- Tangible fixed assets -€20,504
down €20,504 (-8.0%), from €257,332 to €236,828
of which Land and buildings: -€23,688
- Profit (loss) carried forward +€49,043
up €49,043 (+11.3%), from -€432,717 to -€383,674
- Tax, wage and social debts +€25,601
up €25,601 (+15.2%), from €168,368 to €193,969
of which Taxes: +€35,529
- Debts after one year -€19,141
down €19,141 (-6.1%), from €314,704 to €295,564
- Trade debts -€6,333
down €6,333 (-6.8%), from €93,668 to €87,335
- Gross operating margin -€78,293
down €78,293 (-9.1%), from €863,833 to €785,540
- Staff costs +€57,885
up €57,885 (+9.6%), from €604,556 to €662,441
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 | €344,024 | €393,194 | +€49,170 | +14.3% |
| Fixed assets | 21/28 | €287,820 | €264,688 | -€23,131 | -8.0% |
| Intangible fixed assets | 21 | €20,480 | €17,853 | -€2,627 | -12.8% |
| Tangible fixed assets | 22/27 | €257,332 | €236,828 | -€20,504 | -8.0% |
| Land and buildings | 22 | €187,987 | €164,299 | -€23,688 | -12.6% |
| Plant, machinery and equipment | 23 | €32,263 | €45,454 | +€13,192 | +40.9% |
| Furniture and vehicles | 24 | €34,780 | €24,773 | -€10,008 | -28.8% |
| Other tangible fixed assets | 26 | €2,302 | €2,302 | = | 0.0% |
| Financial fixed assets | 28 | €10,008 | €10,008 | = | 0.0% |
| Current assets | 29/58 | €56,204 | €128,506 | +€72,302 | +128.6% |
| Amounts receivable within one year | 40/41 | €19,995 | €56,579 | +€36,584 | +183.0% |
| Trade receivables | 40 | €10,337 | €46,610 | +€36,272 | +350.9% |
| Other amounts receivable | 41 | €9,658 | €9,969 | +€312 | +3.2% |
| Cash at bank and in hand | 54/58 | €36,209 | €71,927 | +€35,718 | +98.6% |
| Total equity and liabilities | 10/49 | €344,024 | €393,194 | +€49,170 | +14.3% |
| Equity | 10/15 | -€232,717 | -€183,674 | +€49,043 | +21.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€432,717 | -€383,674 | +€49,043 | +11.3% |
| Amounts payable | 17/49 | €576,740 | €576,868 | +€128 | 0.0% |
| Amounts payable after more than one year | 17 | €314,704 | €295,564 | -€19,141 | -6.1% |
| Financial debts | 170/4 | €314,704 | €295,564 | -€19,141 | -6.1% |
| Amounts payable within one year | 42/48 | €262,036 | €281,304 | +€19,268 | +7.4% |
| Trade debts | 44 | €93,668 | €87,335 | -€6,333 | -6.8% |
| Suppliers | 440/4 | €93,668 | €87,335 | -€6,333 | -6.8% |
| Taxes, remuneration and social security | 45 | €168,368 | €193,969 | +€25,601 | +15.2% |
| Taxes | 450/3 | €65,613 | €101,142 | +€35,529 | +54.1% |
| Remuneration and social security | 454/9 | €102,755 | €92,827 | -€9,928 | -9.7% |
| Non-recurring operating income | 76A | €281,513 | €0 | -€281,513 | -100.0% |
| Remuneration, social security and pensions | 62 | €604,556 | €662,441 | +€57,885 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,225 | €49,460 | +€234 | +0.5% |
| Other operating charges | 640/8 | €20,331 | €21,698 | +€1,367 | +6.7% |
| Gross operating margin | 9900 | €863,833 | €785,540 | -€78,293 | -9.1% |
| Operating profit (loss) | 9901 | €189,721 | €51,941 | -€137,779 | -72.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,005 | €2,899 | -€1,106 | -27.6% |
| Recurring financial charges | 65 | €4,005 | €2,899 | -€1,106 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €185,716 | €49,043 | -€136,673 | -73.6% |
| Profit (loss) for the period | 9904 | €185,716 | €49,043 | -€136,673 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €185,716 | €49,043 | -€136,673 | -73.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.