SGT FRERES: 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.
SGT FRERES
Largest movements
- Receivables within one year +€6,230
up €6,230 (+29.9%), from €20,857 to €27,087
of which Trade receivables: +€7,562
- Tangible fixed assets -€5,800
no longer reported in 2025 (was €5,800)
- Cash -€1,605
no longer reported in 2025 (was €1,605)
mainly Receivables within one year (-€6,230) and Net result for the year (-€6,175)
- Deferred charges and accrued income -€471
down €471 (-32.9%), from €1,434 to €963
- Profit (loss) carried forward -€6,175
down €6,175, from €1,867 to -€4,308
- Current portion of long-term debt +€3,853
new in 2025: €3,853
- Debts after one year +€3,345
new in 2025: €3,345
- Other debts -€3,062
down €3,062 (-79.9%), from €3,833 to €771
- Trade debts +€2,718
up €2,718 (+34.3%), from €7,930 to €10,647
- Gross operating margin -€23,127
down €23,127, from €20,735 to -€2,392
- Taxes -€4,034
no longer reported in 2025 (was €4,034)
- Depreciation -€3,450
down €3,450 (-89.6%), from €3,851 to €401
- Other operating charges +€1,746
up €1,746 (+150%), from €1,160 to €2,906
- Financial charges +€423
up €423 (+310%), from €137 to €560
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 | €29,695 | €28,050 | -€1,645 | -5.5% |
| Fixed assets | 21/28 | €5,800 | - | -€5,800 | |
| Tangible fixed assets | 22/27 | €5,800 | - | -€5,800 | |
| Furniture and vehicles | 24 | €5,800 | - | -€5,800 | |
| Current assets | 29/58 | €23,895 | €28,050 | +€4,155 | +17.4% |
| Amounts receivable within one year | 40/41 | €20,857 | €27,087 | +€6,230 | +29.9% |
| Trade receivables | 40 | €8,800 | €16,362 | +€7,562 | +85.9% |
| Other amounts receivable | 41 | €12,057 | €10,725 | -€1,331 | -11.0% |
| Cash at bank and in hand | 54/58 | €1,605 | - | -€1,605 | |
| Deferred charges and accrued income | 490/1 | €1,434 | €963 | -€471 | -32.9% |
| Total equity and liabilities | 10/49 | €29,695 | €28,050 | -€1,645 | -5.5% |
| Equity | 10/15 | €4,867 | -€1,308 | -€6,175 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,867 | -€4,308 | -€6,175 | |
| Amounts payable | 17/49 | €24,828 | €29,358 | +€4,530 | +18.2% |
| Amounts payable after more than one year | 17 | - | €3,345 | +€3,345 | |
| Financial debts | 170/4 | - | €3,345 | +€3,345 | |
| Amounts payable within one year | 42/48 | €24,828 | €26,013 | +€1,185 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | - | €3,853 | +€3,853 | |
| Financial debts | 43 | - | €83 | +€83 | |
| Credit institutions | 430/8 | - | €83 | +€83 | |
| Trade debts | 44 | €7,930 | €10,647 | +€2,718 | +34.3% |
| Suppliers | 440/4 | €7,930 | €10,647 | +€2,718 | +34.3% |
| Taxes, remuneration and social security | 45 | €13,065 | €10,659 | -€2,407 | -18.4% |
| Taxes | 450/3 | €13,065 | €10,659 | -€2,407 | -18.4% |
| Other amounts payable | 47/48 | €3,833 | €771 | -€3,062 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,851 | €401 | -€3,450 | -89.6% |
| Other operating charges | 640/8 | €1,160 | €2,906 | +€1,746 | +150% |
| Gross operating margin | 9900 | €20,735 | -€2,392 | -€23,127 | |
| Operating profit (loss) | 9901 | €15,724 | -€5,699 | -€21,422 | |
| Financial income | 75/76B | €6 | €84 | +€78 | +1,299% |
| Recurring financial income | 75 | €6 | €84 | +€78 | +1,299% |
| Financial charges | 65/66B | €137 | €560 | +€423 | +310% |
| Recurring financial charges | 65 | €137 | €560 | +€423 | +310% |
| Profit (loss) for the period before taxes | 9903 | €15,593 | -€6,175 | -€21,768 | |
| Income taxes | 67/77 | €4,034 | - | -€4,034 | |
| Profit (loss) for the period | 9904 | €11,559 | -€6,175 | -€17,734 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,559 | -€6,175 | -€17,734 |
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 22 October 2026 via checked.be.