SGT: 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.
SGT
Largest movements
- Receivables within one year +€44,051
up €44,051 (+206.2%), from €21,364 to €65,415
of which Other amounts receivable: +€44,065
- Cash +€9,150
up €9,150 (+26.6%), from €34,380 to €43,530
mainly Net result for the year (+€46,058) and Other debts (+€41,825)
- Intangible fixed assets -€8,703
down €8,703 (-9.1%), from €95,727 to €87,025
- Stocks and contracts +€5,836
up €5,836 (+21.8%), from €26,772 to €32,608
- Other debts +€41,825
up €41,825 (+775.8%), from €5,391 to €47,216
- Tax, wage and social debts -€13,356
down €13,356 (-54.7%), from €24,401 to €11,046
- Trade debts +€12,842
up €12,842 (+48.6%), from €26,406 to €39,248
- Short-term financial debts +€5,876
new in 2025: €5,876
- Reserves +€3,323
up €3,323 (+1.6%), from €202,797 to €206,121
of which Distributable reserves: +€3,323
- Gross operating margin +€21,011
up €21,011 (+38.6%), from €54,413 to €75,424
- Taxes +€7,268
up €7,268 (+42.5%), from €17,087 to €24,354
- Financial income +€3,879
up €3,879 (+182.1%), from €2,131 to €6,010
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 | €281,286 | €332,016 | +€50,731 | +18.0% |
| Fixed assets | 21/28 | €95,965 | €87,102 | -€8,863 | -9.2% |
| Intangible fixed assets | 21 | €95,727 | €87,025 | -€8,703 | -9.1% |
| Tangible fixed assets | 22/27 | €238 | €77 | -€160 | -67.4% |
| Plant, machinery and equipment | 23 | €161 | €77 | -€84 | -51.9% |
| Furniture and vehicles | 24 | €77 | - | -€77 | |
| Current assets | 29/58 | €185,321 | €244,914 | +€59,593 | +32.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €26,772 | €32,608 | +€5,836 | +21.8% |
| Stocks | 30/36 | €26,772 | €32,608 | +€5,836 | +21.8% |
| Amounts receivable within one year | 40/41 | €21,364 | €65,415 | +€44,051 | +206.2% |
| Trade receivables | 40 | €201 | €187 | -€14 | -7.1% |
| Other amounts receivable | 41 | €21,162 | €65,228 | +€44,065 | +208.2% |
| Cash at bank and in hand | 54/58 | €34,380 | €43,530 | +€9,150 | +26.6% |
| Deferred charges and accrued income | 490/1 | €2,804 | €3,361 | +€556 | +19.8% |
| Total equity and liabilities | 10/49 | €281,286 | €332,016 | +€50,731 | +18.0% |
| Equity | 10/15 | €221,397 | €224,721 | +€3,323 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €202,797 | €206,121 | +€3,323 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €200,937 | €204,261 | +€3,323 | +1.7% |
| Amounts payable | 17/49 | €59,888 | €107,296 | +€47,407 | +79.2% |
| Amounts payable within one year | 42/48 | €56,198 | €103,386 | +€47,187 | +84.0% |
| Financial debts | 43 | - | €5,876 | +€5,876 | |
| Credit institutions | 430/8 | - | €5,876 | +€5,876 | |
| Trade debts | 44 | €26,406 | €39,248 | +€12,842 | +48.6% |
| Suppliers | 440/4 | €26,406 | €39,248 | +€12,842 | +48.6% |
| Taxes, remuneration and social security | 45 | €24,401 | €11,046 | -€13,356 | -54.7% |
| Taxes | 450/3 | €24,401 | €11,046 | -€13,356 | -54.7% |
| Other amounts payable | 47/48 | €5,391 | €47,216 | +€41,825 | +775.8% |
| Accrued charges and deferred income | 492/3 | €3,690 | €3,910 | +€220 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,047 | €8,863 | -€184 | -2.0% |
| Other operating charges | 640/8 | €1,514 | €1,498 | -€16 | -1.1% |
| Gross operating margin | 9900 | €54,413 | €75,424 | +€21,011 | +38.6% |
| Operating profit (loss) | 9901 | €43,852 | €65,063 | +€21,211 | +48.4% |
| Financial income | 75/76B | €2,131 | €6,010 | +€3,879 | +182.1% |
| Recurring financial income | 75 | €2,131 | €6,010 | +€3,879 | +182.1% |
| Financial charges | 65/66B | €505 | €661 | +€156 | +30.8% |
| Recurring financial charges | 65 | €505 | €661 | +€156 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €45,478 | €70,412 | +€24,934 | +54.8% |
| Income taxes | 67/77 | €17,087 | €24,354 | +€7,268 | +42.5% |
| Profit (loss) for the period | 9904 | €28,391 | €46,058 | +€17,667 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,391 | €46,058 | +€17,667 | +62.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.