SGS Consulting: 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 Consulting
Largest movements
- Current investments +€1.5m
new in 2025: €1.5m
- Receivables within one year +€337,418
up €337,418 (+784%), from €43,039 to €380,457
of which Trade receivables: +€325,759
- Financial fixed assets +€76,265
up €76,265 (+20.4%), from €373,520 to €449,785
- Cash -€60,159
down €60,159 (-34.5%), from €174,421 to €114,263
mainly Contributions, distributions and other (-€3.0m) and Current investments (-€1.5m)
- Tangible fixed assets +€32,554
up €32,554 (+1,674%), from €1,945 to €34,499
of which Furniture and vehicles: +€28,153
- Other debts +€1.3m
up €1.3m (+325%), from €403,770 to €1.7m
- Tax, wage and social debts +€712,287
up €712,287 (+2,585%), from €27,555 to €739,842
of which Taxes: +€699,977
- Reserves -€139,979
down €139,979 (-100%), from €139,979 to €0
- Gross operating margin +€3.8m
up €3.8m (+1,047%), from €364,774 to €4.2m
- Taxes +€866,370
up €866,370 (+977%), from €88,636 to €955,006
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 | €594,459 | €2,480,631 | +€1.9m | +317% |
| Fixed assets | 21/28 | €375,465 | €484,284 | +€108,819 | +29.0% |
| Tangible fixed assets | 22/27 | €1,945 | €34,499 | +€32,554 | +1,674% |
| Plant, machinery and equipment | 23 | €1,120 | €5,521 | +€4,401 | +393% |
| Furniture and vehicles | 24 | €825 | €28,978 | +€28,153 | +3,414% |
| Financial fixed assets | 28 | €373,520 | €449,785 | +€76,265 | +20.4% |
| Current assets | 29/58 | €218,995 | €1,996,347 | +€1.8m | +812% |
| Amounts receivable within one year | 40/41 | €43,039 | €380,457 | +€337,418 | +784% |
| Trade receivables | 40 | €41,003 | €366,762 | +€325,759 | +794% |
| Other amounts receivable | 41 | €2,036 | €13,695 | +€11,659 | +573% |
| Current investments | 50/53 | - | €1,500,000 | +€1.5m | |
| Cash at bank and in hand | 54/58 | €174,421 | €114,263 | -€60,159 | -34.5% |
| Deferred charges and accrued income | 490/1 | €1,535 | €1,628 | +€93 | +6.1% |
| Total equity and liabilities | 10/49 | €594,459 | €2,480,631 | +€1.9m | +317% |
| Equity | 10/15 | €158,529 | €18,550 | -€139,979 | -88.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €139,979 | €0 | -€139,979 | -100% |
| Distributable reserves | 133 | €139,979 | €0 | -€139,979 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €435,930 | €2,462,081 | +€2.0m | +465% |
| Amounts payable within one year | 42/48 | €435,930 | €2,462,081 | +€2.0m | +465% |
| Trade debts | 44 | €4,606 | €7,228 | +€2,622 | +56.9% |
| Suppliers | 440/4 | €4,606 | €7,228 | +€2,622 | +56.9% |
| Taxes, remuneration and social security | 45 | €27,555 | €739,842 | +€712,287 | +2,585% |
| Taxes | 450/3 | €27,555 | €727,531 | +€699,977 | +2,540% |
| Remuneration and social security | 454/9 | - | €12,311 | +€12,311 | |
| Other amounts payable | 47/48 | €403,770 | €1,715,011 | +€1.3m | +325% |
| Remuneration, social security and pensions | 62 | - | €28,817 | +€28,817 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,770 | €5,241 | +€3,471 | +196% |
| Other operating charges | 640/8 | €1,829 | €1,866 | +€36 | +2.0% |
| Non-recurring operating charges | 66A | - | €373,520 | +€373,520 | |
| Gross operating margin | 9900 | €364,774 | €4,182,950 | +€3.8m | +1,047% |
| Operating profit (loss) | 9901 | €361,175 | €3,773,507 | +€3.4m | +945% |
| Financial income | 75/76B | €2,239 | €5,552 | +€3,312 | +148% |
| Recurring financial income | 75 | €2,239 | €5,552 | +€3,312 | +148% |
| Financial charges | 65/66B | €1,393 | €345 | -€1,048 | -75.2% |
| Recurring financial charges | 65 | €1,393 | €345 | -€1,048 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €362,021 | €3,778,713 | +€3.4m | +944% |
| Income taxes | 67/77 | €88,636 | €955,006 | +€866,370 | +977% |
| Profit (loss) for the period | 9904 | €273,384 | €2,823,707 | +€2.6m | +933% |
| Profit (loss) for the period to be appropriated | 9905 | €273,384 | €2,823,707 | +€2.6m | +933% |
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 28 October 2026 via checked.be.