SGPM CONSULT: 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.
SGPM CONSULT
Largest movements
- Current investments +€90,000
new in 2025: €90,000
- Cash -€29,898
down €29,898 (-16.8%), from €177,496 to €147,598
mainly Current investments (-€90,000) and Debts after one year (-€3,870)
- Tangible fixed assets -€4,435
down €4,435 (-37.1%), from €11,959 to €7,524
of which Leasing and similar rights: -€6,293
- Receivables within one year +€3,462
up €3,462 (+26.9%), from €12,888 to €16,350
- Reserves +€69,245
up €69,245 (+44.3%), from €156,388 to €225,633
- Debts after one year -€3,870
no longer reported in 2025 (was €3,870)
- Gross operating margin +€1,796
up €1,796 (+1.9%), from €94,055 to €95,851
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 | €205,045 | €264,389 | +€59,344 | +28.9% |
| Fixed assets | 21/28 | €11,959 | €7,524 | -€4,435 | -37.1% |
| Tangible fixed assets | 22/27 | €11,959 | €7,524 | -€4,435 | -37.1% |
| Plant, machinery and equipment | 23 | €877 | €1,290 | +€413 | +47.2% |
| Furniture and vehicles | 24 | €1,082 | €2,527 | +€1,445 | +133.6% |
| Leasing and similar rights | 25 | €10,000 | €3,707 | -€6,293 | -62.9% |
| Current assets | 29/58 | €193,086 | €256,865 | +€63,779 | +33.0% |
| Amounts receivable within one year | 40/41 | €12,888 | €16,350 | +€3,462 | +26.9% |
| Trade receivables | 40 | €12,888 | €16,350 | +€3,462 | +26.9% |
| Current investments | 50/53 | - | €90,000 | +€90,000 | |
| Cash at bank and in hand | 54/58 | €177,496 | €147,598 | -€29,898 | -16.8% |
| Deferred charges and accrued income | 490/1 | €2,702 | €2,916 | +€215 | +7.9% |
| Total equity and liabilities | 10/49 | €205,045 | €264,389 | +€59,344 | +28.9% |
| Equity | 10/15 | €159,388 | €228,633 | +€69,245 | +43.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €156,388 | €225,633 | +€69,245 | +44.3% |
| Distributable reserves | 133 | €156,388 | €225,633 | +€69,245 | +44.3% |
| Amounts payable | 17/49 | €45,657 | €35,756 | -€9,901 | -21.7% |
| Amounts payable after more than one year | 17 | €3,870 | - | -€3,870 | |
| Financial debts | 170/4 | €3,870 | - | -€3,870 | |
| Amounts payable within one year | 42/48 | €41,678 | €35,644 | -€6,034 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €6,472 | €3,870 | -€2,602 | -40.2% |
| Trade debts | 44 | €1,004 | €1,200 | +€195 | +19.4% |
| Suppliers | 440/4 | €1,004 | €1,200 | +€195 | +19.4% |
| Taxes, remuneration and social security | 45 | €32,580 | €29,942 | -€2,638 | -8.1% |
| Taxes | 450/3 | €32,580 | €29,942 | -€2,638 | -8.1% |
| Other amounts payable | 47/48 | €1,622 | €633 | -€989 | -61.0% |
| Accrued charges and deferred income | 492/3 | €109 | €112 | +€3 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,193 | €7,635 | +€442 | +6.1% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340.4% |
| Gross operating margin | 9900 | €94,055 | €95,851 | +€1,796 | +1.9% |
| Operating profit (loss) | 9901 | €86,744 | €87,696 | +€952 | +1.1% |
| Financial income | 75/76B | €742 | €974 | +€232 | +31.2% |
| Recurring financial income | 75 | €742 | €974 | +€232 | +31.2% |
| Financial charges | 65/66B | €514 | €317 | -€198 | -38.4% |
| Recurring financial charges | 65 | €514 | €317 | -€198 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €86,971 | €88,353 | +€1,382 | +1.6% |
| Income taxes | 67/77 | €18,976 | €19,108 | +€131 | +0.7% |
| Profit (loss) for the period | 9904 | €67,995 | €69,245 | +€1,250 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,995 | €69,245 | +€1,250 | +1.8% |
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 8 October 2026 via checked.be.