SGPMI: 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
SGPMI
NACE 46.331, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€259,669
2024 · -€269,461+€9,792
Equity
€336,185
2024 · €595,853-€259,669
Cash
€107,657
2024 · €75,396+€32,261
Balance sheet total
€3.3m
2024 · €5.2m-€1.9m
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-57.5%), from €3.3m to €1.4m
of which Trade receivables: -€1.8m
Equity and liabilities
- Trade debts -€1.7m
down €1.7m (-95.3%), from €1.7m to €82,254
- Reserves -€210,853
down €210,853 (-85.8%), from €245,853 to €35,000
of which Distributable reserves: -€210,853
- Other debts +€57,945
up €57,945 (+4.4%), from €1.3m to €1.4m
Income statement
- Turnover -€1.4m
down €1.4m (-47.3%), from €3.0m to €1.6m
- Goods and materials -€1.4m
down €1.4m (-47.4%), from €2.9m to €1.5m
- Other operating charges -€112,381
down €112,381 (-97.6%), from €115,109 to €2,728
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
-€269,461
Turnover
-€1.4m
Other operating income
-€118
Goods and materials
+€1.4m
Services and other goods
-€18,391
Write-downs
-€4,791
Other operating charges
+€112,381
Financial income
-€21,264
Financial charges
-€25,737
Taxes
+€17
Result 2025
-€259,669
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
+€38,066
Investment
+€750
Financing
-€6,555
Cash 2024
€75,396
From operations (derived)
+€38,066
Net result for the year
-€259,669
Depreciation
+€10,001
Receivables within one year
+€1.9m
Smaller working-capital items
-€283
Trade debts
-€1.7m
Other debts
+€57,945
Accrued charges and deferred income
-€7,063
Investment (derived)
+€750
Investment in fixed assets (net)
+€750
Financing
-€6,555
Debts after one year
-€7,948
Current portion of long-term debt
+€361
Short-term financial debts
+€1,032
Cash 2025
€107,657
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,196,610 | €3,319,005 | -€1.9m | -36.1% |
| Fixed assets | 21/28 | €1,647,135 | €1,636,384 | -€10,751 | -0.7% |
| Tangible fixed assets | 22/27 | €37,135 | €26,384 | -€10,751 | -29.0% |
| Plant, machinery and equipment | 23 | €1,344 | €1,003 | -€341 | -25.4% |
| Furniture and vehicles | 24 | €35,040 | €25,380 | -€9,660 | -27.6% |
| Other tangible fixed assets | 26 | €750 | - | -€750 | |
| Financial fixed assets | 28 | €1,610,000 | €1,610,000 | = | 0.0% |
| Affiliated companies | 280/1 | €1,610,000 | €1,610,000 | = | 0.0% |
| Participating interests | 280 | €1,550,000 | €1,550,000 | = | 0.0% |
| Amounts receivable | 281 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €3,549,476 | €1,682,621 | -€1.9m | -52.6% |
| Amounts receivable within one year | 40/41 | €3,300,937 | €1,401,566 | -€1.9m | -57.5% |
| Trade receivables | 40 | €2,396,306 | €638,150 | -€1.8m | -73.4% |
| Other amounts receivable | 41 | €904,631 | €763,416 | -€141,215 | -15.6% |
| Cash at bank and in hand | 54/58 | €75,396 | €107,657 | +€32,261 | +42.8% |
| Deferred charges and accrued income | 490/1 | €173,143 | €173,399 | +€255 | +0.1% |
| Total equity and liabilities | 10/49 | €5,196,610 | €3,319,005 | -€1.9m | -36.1% |
| Equity | 10/15 | €595,853 | €336,185 | -€259,669 | -43.6% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €245,853 | €35,000 | -€210,853 | -85.8% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Legal reserve | 130 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €210,853 | - | -€210,853 | |
| Profit (loss) carried forward | 14 | - | -€48,815 | -€48,815 | |
| Amounts payable | 17/49 | €4,600,757 | €2,982,820 | -€1.6m | -35.2% |
| Amounts payable after more than one year | 17 | €63,902 | €55,955 | -€7,948 | -12.4% |
| Financial debts | 170/4 | €13,455 | €5,507 | -€7,948 | -59.1% |
| Credit institutions | 173 | €13,455 | €5,507 | -€7,948 | -59.1% |
| Other amounts payable | 178/9 | €50,447 | €50,447 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,524,527 | €2,921,601 | -€1.6m | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €7,586 | €7,948 | +€361 | +4.8% |
| Financial debts | 43 | €1,450,000 | €1,451,032 | +€1,032 | +0.1% |
| Credit institutions | 430/8 | €1,450,000 | €1,451,032 | +€1,032 | +0.1% |
| Trade debts | 44 | €1,744,490 | €82,254 | -€1.7m | -95.3% |
| Suppliers | 440/4 | €1,744,490 | €82,254 | -€1.7m | -95.3% |
| Taxes, remuneration and social security | 45 | €429 | €401 | -€28 | -6.5% |
| Taxes | 450/3 | €429 | €401 | -€28 | -6.5% |
| Other amounts payable | 47/48 | €1,322,021 | €1,379,966 | +€57,945 | +4.4% |
| Accrued charges and deferred income | 492/3 | €12,328 | €5,265 | -€7,063 | -57.3% |
| Operating income | 70/76A | €3,017,829 | €1,590,316 | -€1.4m | -47.3% |
| Turnover | 70 | €3,015,803 | €1,588,408 | -€1.4m | -47.3% |
| Other operating income | 74 | €2,026 | €1,908 | -€118 | -5.8% |
| Operating charges | 60/66A | €3,208,115 | €1,723,826 | -€1.5m | -46.3% |
| Goods for resale, raw materials and consumables | 60 | €2,943,857 | €1,548,767 | -€1.4m | -47.4% |
| Purchases | 600/8 | €2,943,857 | €1,548,767 | -€1.4m | -47.4% |
| Services and other goods | 61 | €143,940 | €162,331 | +€18,391 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,001 | €10,001 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,791 | - | +€4,791 | |
| Other operating charges | 640/8 | €115,109 | €2,728 | -€112,381 | -97.6% |
| Operating profit (loss) | 9901 | -€190,287 | -€133,510 | +€56,776 | +29.8% |
| Financial income | 75/76B | €29,664 | €8,400 | -€21,264 | -71.7% |
| Recurring financial income | 75 | €29,664 | €8,400 | -€21,264 | -71.7% |
| Income from current assets | 751 | €5,257 | €3,278 | -€1,979 | -37.7% |
| Other financial income | 752/9 | €24,407 | €5,122 | -€19,285 | -79.0% |
| Financial charges | 65/66B | €108,630 | €134,366 | +€25,737 | +23.7% |
| Recurring financial charges | 65 | €108,630 | €134,366 | +€25,737 | +23.7% |
| Debt charges | 650 | €91,466 | €101,121 | +€9,655 | +10.6% |
| Other financial charges | 652/9 | €17,163 | €33,245 | +€16,082 | +93.7% |
| Profit (loss) for the period before taxes | 9903 | -€269,252 | -€259,477 | +€9,775 | +3.6% |
| Income taxes | 67/77 | €209 | €192 | -€17 | -8.1% |
| Taxes | 670/3 | €209 | €192 | -€17 | -8.1% |
| Profit (loss) for the period | 9904 | -€269,461 | -€259,669 | +€9,792 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€269,461 | -€259,669 | +€9,792 | +3.6% |
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.