SGR IMMO: 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.
SGR IMMO
Largest movements
- Tangible fixed assets +€329,076
up €329,076 (+52.8%), from €623,598 to €952,674
- Receivables within one year +€14,181
new in 2025: €14,181
of which Trade receivables: +€13,181
- Debts after one year +€294,024
up €294,024 (+65.7%), from €447,280 to €741,304
- Other debts +€57,500
up €57,500 (+64.4%), from €89,274 to €146,774
- Profit (loss) carried forward -€34,234
down €34,234 (-900.6%), from -€3,801 to -€38,035
- Short-term financial debts -€24,462
no longer reported in 2025 (was €24,462)
- Investment grants +€24,418
new in 2025: €24,418
- Depreciation +€44,568
up €44,568 (+162.3%), from €27,466 to €72,033
- Financial income +€14,558
new in 2025: €14,558
- Financial charges +€7,909
up €7,909 (+77.6%), from €10,188 to €18,097
- Gross operating margin -€1,668
down €1,668 (-3.8%), from €44,088 to €42,421
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 | €623,663 | €966,864 | +€343,201 | +55.0% |
| Fixed assets | 21/28 | €623,598 | €952,674 | +€329,076 | +52.8% |
| Tangible fixed assets | 22/27 | €623,598 | €952,674 | +€329,076 | +52.8% |
| Land and buildings | 22 | €623,598 | €952,674 | +€329,076 | +52.8% |
| Current assets | 29/58 | €65 | €14,189 | +€14,125 | +21878.5% |
| Amounts receivable within one year | 40/41 | - | €14,181 | +€14,181 | |
| Trade receivables | 40 | - | €13,181 | +€13,181 | |
| Other amounts receivable | 41 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | - | €8 | +€8 | |
| Deferred charges and accrued income | 490/1 | €65 | - | -€65 | |
| Total equity and liabilities | 10/49 | €623,663 | €966,864 | +€343,201 | +55.0% |
| Equity | 10/15 | €16,199 | €6,383 | -€9,816 | -60.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,801 | -€38,035 | -€34,234 | -900.6% |
| Investment grants | 15 | - | €24,418 | +€24,418 | |
| Provisions and deferred taxes | 16 | - | €6,104 | +€6,104 | |
| Deferred taxes | 168 | - | €6,104 | +€6,104 | |
| Amounts payable | 17/49 | €607,464 | €954,376 | +€346,912 | +57.1% |
| Amounts payable after more than one year | 17 | €447,280 | €741,304 | +€294,024 | +65.7% |
| Financial debts | 170/4 | €447,280 | €741,304 | +€294,024 | +65.7% |
| Amounts payable within one year | 42/48 | €160,184 | €213,072 | +€52,888 | +33.0% |
| Current portion of amounts payable after more than one year | 42 | €35,572 | €54,519 | +€18,946 | +53.3% |
| Financial debts | 43 | €24,462 | - | -€24,462 | |
| Credit institutions | 430/8 | €24,462 | - | -€24,462 | |
| Trade debts | 44 | €6,019 | €5,304 | -€715 | -11.9% |
| Suppliers | 440/4 | €6,019 | €5,304 | -€715 | -11.9% |
| Taxes, remuneration and social security | 45 | €4,857 | €6,476 | +€1,619 | +33.3% |
| Taxes | 450/3 | €4,857 | €6,476 | +€1,619 | +33.3% |
| Other amounts payable | 47/48 | €89,274 | €146,774 | +€57,500 | +64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,466 | €72,033 | +€44,568 | +162.3% |
| Other operating charges | 640/8 | €4,582 | €4,721 | +€139 | +3.0% |
| Gross operating margin | 9900 | €44,088 | €42,421 | -€1,668 | -3.8% |
| Operating profit (loss) | 9901 | €12,040 | -€34,334 | -€46,374 | |
| Financial income | 75/76B | - | €14,558 | +€14,558 | |
| Recurring financial income | 75 | - | €14,558 | +€14,558 | |
| Financial charges | 65/66B | €10,188 | €18,097 | +€7,909 | +77.6% |
| Recurring financial charges | 65 | €10,188 | €18,097 | +€7,909 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | €1,852 | -€37,873 | -€39,726 | |
| Transfer from deferred taxes | 780 | - | €3,640 | +€3,640 | |
| Profit (loss) for the period | 9904 | €1,852 | -€34,234 | -€36,086 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,852 | -€34,234 | -€36,086 |
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 28 September 2026 via checked.be.