SGRD: 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.
SGRD
Largest movements
- Receivables within one year -€29,906
no longer reported in 2025 (was €29,906)
- Cash +€23,520
up €23,520 (+114.9%), from €20,473 to €43,993
mainly Receivables within one year (+€29,906) and Tax, wage and social debts (+€15,722)
- Tax, wage and social debts +€15,722
up €15,722 (+37.7%), from €41,703 to €57,425
of which Remuneration and social security: +€11,939
- Other debts -€15,000
down €15,000 (-47.5%), from €31,602 to €16,602
- Profit (loss) carried forward -€8,474
down €8,474 (-22.3%), from -€38,060 to -€46,534
- Advances received +€720
new in 2025: €720
- Trade debts +€646
up €646 (+12.9%), from €4,997 to €5,643
- Gross operating margin +€62,039
up €62,039 (+45.3%), from €136,955 to €198,994
- Staff costs +€52,462
up €52,462 (+34.0%), from €154,360 to €206,822
- Depreciation -€2,190
no longer reported in 2025 (was €2,190)
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 | €58,843 | €52,457 | -€6,386 | -10.9% |
| Fixed assets | 21/28 | €8,464 | €8,464 | = | 0.0% |
| Tangible fixed assets | 22/27 | €8,464 | €8,464 | = | 0.0% |
| Furniture and vehicles | 24 | €974 | €974 | = | 0.0% |
| Other tangible fixed assets | 26 | €7,489 | €7,489 | = | 0.0% |
| Current assets | 29/58 | €50,379 | €43,993 | -€6,386 | -12.7% |
| Amounts receivable within one year | 40/41 | €29,906 | - | -€29,906 | |
| Trade receivables | 40 | €29,906 | - | -€29,906 | |
| Cash at bank and in hand | 54/58 | €20,473 | €43,993 | +€23,520 | +114.9% |
| Total equity and liabilities | 10/49 | €58,843 | €52,457 | -€6,386 | -10.9% |
| Equity | 10/15 | -€19,460 | -€27,934 | -€8,474 | -43.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,060 | -€46,534 | -€8,474 | -22.3% |
| Amounts payable | 17/49 | €78,302 | €80,390 | +€2,088 | +2.7% |
| Amounts payable within one year | 42/48 | €78,302 | €80,390 | +€2,088 | +2.7% |
| Trade debts | 44 | €4,997 | €5,643 | +€646 | +12.9% |
| Suppliers | 440/4 | €4,997 | €5,643 | +€646 | +12.9% |
| Advances received on contracts in progress | 46 | - | €720 | +€720 | |
| Taxes, remuneration and social security | 45 | €41,703 | €57,425 | +€15,722 | +37.7% |
| Taxes | 450/3 | €17,105 | €20,888 | +€3,783 | +22.1% |
| Remuneration and social security | 454/9 | €24,598 | €36,538 | +€11,939 | +48.5% |
| Other amounts payable | 47/48 | €31,602 | €16,602 | -€15,000 | -47.5% |
| Remuneration, social security and pensions | 62 | €154,360 | €206,822 | +€52,462 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,190 | - | -€2,190 | |
| Other operating charges | 640/8 | €1,170 | €585 | -€584 | -50.0% |
| Gross operating margin | 9900 | €136,955 | €198,994 | +€62,039 | +45.3% |
| Operating profit (loss) | 9901 | -€20,764 | -€8,413 | +€12,352 | +59.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +5300.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5300.0% |
| Financial charges | 65/66B | €63 | €62 | -€1 | -1.7% |
| Recurring financial charges | 65 | €63 | €62 | -€1 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€20,827 | -€8,474 | +€12,353 | +59.3% |
| Profit (loss) for the period | 9904 | -€20,827 | -€8,474 | +€12,353 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,827 | -€8,474 | +€12,353 | +59.3% |
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 6 October 2026 via checked.be.