SGS CONCEPT: what changed
Two financial 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.
SGS CONCEPT
Largest movements
- Receivables within one year -€52,214
down €52,214 (-68.7%), from €75,959 to €23,745
of which Trade receivables: -€53,448
- Cash +€3,238
up €3,238 (+31.3%), from €10,358 to €13,597
mainly Receivables within one year (+€52,214) and Depreciation (+€10,192)
- Tangible fixed assets +€2,349
up €2,349 (+8.1%), from €29,153 to €31,502
of which Furniture and vehicles: +€2,642
- Trade debts -€46,041
down €46,041 (-67.3%), from €68,425 to €22,384
- Debts after one year +€9,740
up €9,740 (+1,935%), from €503 to €10,243
- Tax, wage and social debts -€3,490
down €3,490 (-45.3%), from €7,701 to €4,211
- Current portion of long-term debt -€3,041
down €3,041 (-43.7%), from €6,954 to €3,913
- Other debts -€2,406
down €2,406 (-99.8%), from €2,411 to €5
- Depreciation -€4,628
down €4,628 (-31.2%), from €14,820 to €10,192
- Gross operating margin -€2,261
down €2,261 (-12.1%), from €18,665 to €16,403
- Financial charges -€1,600
down €1,600 (-51.9%), from €3,081 to €1,482
- Taxes -€1,148
down €1,148 (-75.0%), from €1,530 to €382
- Financial income -€797
down €797 (-79.6%), from €1,002 to €205
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.
Derived cash bridge
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 | €116,431 | €70,790 | -€45,642 | -39.2% |
| Fixed assets | 21/28 | €29,153 | €31,502 | +€2,349 | +8.1% |
| Tangible fixed assets | 22/27 | €29,153 | €31,502 | +€2,349 | +8.1% |
| Plant, machinery and equipment | 23 | €4,067 | €3,774 | -€293 | -7.2% |
| Furniture and vehicles | 24 | €25,086 | €27,728 | +€2,642 | +10.5% |
| Current assets | 29/58 | €87,279 | €39,288 | -€47,991 | -55.0% |
| Amounts receivable within one year | 40/41 | €75,959 | €23,745 | -€52,214 | -68.7% |
| Trade receivables | 40 | €69,784 | €16,336 | -€53,448 | -76.6% |
| Other amounts receivable | 41 | €6,175 | €7,409 | +€1,234 | +20.0% |
| Cash at bank and in hand | 54/58 | €10,358 | €13,597 | +€3,238 | +31.3% |
| Deferred charges and accrued income | 490/1 | €961 | €1,946 | +€985 | +102% |
| Total equity and liabilities | 10/49 | €116,431 | €70,790 | -€45,642 | -39.2% |
| Equity | 10/15 | €30,437 | €29,484 | -€953 | -3.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,437 | €1,484 | -€953 | -39.1% |
| Amounts payable | 17/49 | €85,994 | €41,306 | -€44,689 | -52.0% |
| Amounts payable after more than one year | 17 | €503 | €10,243 | +€9,740 | +1,935% |
| Financial debts | 170/4 | €503 | €10,243 | +€9,740 | +1,935% |
| Amounts payable within one year | 42/48 | €85,491 | €30,512 | -€54,979 | -64.3% |
| Current portion of amounts payable after more than one year | 42 | €6,954 | €3,913 | -€3,041 | -43.7% |
| Trade debts | 44 | €68,425 | €22,384 | -€46,041 | -67.3% |
| Suppliers | 440/4 | €68,425 | €22,384 | -€46,041 | -67.3% |
| Taxes, remuneration and social security | 45 | €7,701 | €4,211 | -€3,490 | -45.3% |
| Taxes | 450/3 | €7,701 | €4,211 | -€3,490 | -45.3% |
| Other amounts payable | 47/48 | €2,411 | €5 | -€2,406 | -99.8% |
| Accrued charges and deferred income | 492/3 | - | €551 | +€551 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,820 | €10,192 | -€4,628 | -31.2% |
| Other operating charges | 640/8 | €2,614 | €2,736 | +€123 | +4.7% |
| Non-recurring operating charges | 66A | - | €2,770 | +€2,770 | |
| Gross operating margin | 9900 | €18,665 | €16,403 | -€2,261 | -12.1% |
| Operating profit (loss) | 9901 | €1,231 | €706 | -€525 | -42.7% |
| Financial income | 75/76B | €1,002 | €205 | -€797 | -79.6% |
| Recurring financial income | 75 | €1,002 | €205 | -€797 | -79.6% |
| Financial charges | 65/66B | €3,081 | €1,482 | -€1,600 | -51.9% |
| Recurring financial charges | 65 | €3,081 | €1,482 | -€1,600 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | -€848 | -€571 | +€277 | +32.7% |
| Income taxes | 67/77 | €1,530 | €382 | -€1,148 | -75.0% |
| Profit (loss) for the period | 9904 | -€2,378 | -€953 | +€1,425 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,378 | -€953 | +€1,425 | +59.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.