SGT Group: 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 Group
Largest movements
- Tangible fixed assets -€28,342
down €28,342 (-33.1%), from €85,529 to €57,186
of which Furniture and vehicles: -€19,165
- Receivables within one year +€17,096
up €17,096 (+16.5%), from €103,602 to €120,698
of which Other amounts receivable: +€13,787
- Cash +€3,995
up €3,995 (+68.4%), from €5,842 to €9,837
mainly Depreciation (+€28,342) and Net result for the year (+€17,495)
- Debts after one year -€23,504
down €23,504 (-35.5%), from €66,218 to €42,714
- Reserves +€17,000
up €17,000 (+71.2%), from €23,860 to €40,860
of which Distributable reserves: +€17,000
- Gross operating margin +€49,581
up €49,581 (+56.8%), from €87,326 to €136,907
- Staff costs +€29,226
up €29,226 (+148%), from €19,812 to €49,039
- Other operating charges +€9,724
up €9,724 (+39.7%), from €24,501 to €34,225
- Taxes +€4,270
up €4,270 (+156%), from €2,745 to €7,015
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 | €213,881 | €204,721 | -€9,160 | -4.3% |
| Fixed assets | 21/28 | €102,529 | €74,186 | -€28,342 | -27.6% |
| Tangible fixed assets | 22/27 | €85,529 | €57,186 | -€28,342 | -33.1% |
| Furniture and vehicles | 24 | €47,865 | €28,701 | -€19,165 | -40.0% |
| Leasing and similar rights | 25 | €37,663 | €28,486 | -€9,178 | -24.4% |
| Financial fixed assets | 28 | €17,000 | €17,000 | = | 0.0% |
| Current assets | 29/58 | €111,352 | €130,535 | +€19,183 | +17.2% |
| Amounts receivable within one year | 40/41 | €103,602 | €120,698 | +€17,096 | +16.5% |
| Trade receivables | 40 | €35,058 | €38,366 | +€3,308 | +9.4% |
| Other amounts receivable | 41 | €68,544 | €82,331 | +€13,787 | +20.1% |
| Cash at bank and in hand | 54/58 | €5,842 | €9,837 | +€3,995 | +68.4% |
| Deferred charges and accrued income | 490/1 | €1,908 | - | -€1,908 | |
| Total equity and liabilities | 10/49 | €213,881 | €204,721 | -€9,160 | -4.3% |
| Equity | 10/15 | €95,166 | €112,662 | +€17,495 | +18.4% |
| Contributions | 10/11 | €16,100 | €16,100 | = | 0.0% |
| Reserves | 13 | €23,860 | €40,860 | +€17,000 | +71.2% |
| 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 | €22,000 | €39,000 | +€17,000 | +77.3% |
| Profit (loss) carried forward | 14 | €55,206 | €55,702 | +€495 | +0.9% |
| Amounts payable | 17/49 | €118,714 | €92,059 | -€26,655 | -22.5% |
| Amounts payable after more than one year | 17 | €66,218 | €42,714 | -€23,504 | -35.5% |
| Financial debts | 170/4 | €66,218 | €42,714 | -€23,504 | -35.5% |
| Amounts payable within one year | 42/48 | €52,496 | €49,345 | -€3,151 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €22,523 | €23,504 | +€981 | +4.4% |
| Trade debts | 44 | €13,433 | €11,435 | -€1,998 | -14.9% |
| Suppliers | 440/4 | €13,433 | €11,435 | -€1,998 | -14.9% |
| Taxes, remuneration and social security | 45 | €16,540 | €14,406 | -€2,134 | -12.9% |
| Taxes | 450/3 | €11,470 | €9,054 | -€2,416 | -21.1% |
| Remuneration and social security | 454/9 | €5,071 | €5,352 | +€281 | +5.6% |
| Remuneration, social security and pensions | 62 | €19,812 | €49,039 | +€29,226 | +148% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,138 | €28,342 | -€795 | -2.7% |
| Other operating charges | 640/8 | €24,501 | €34,225 | +€9,724 | +39.7% |
| Gross operating margin | 9900 | €87,326 | €136,907 | +€49,581 | +56.8% |
| Operating profit (loss) | 9901 | €13,875 | €25,300 | +€11,425 | +82.3% |
| Financial income | 75/76B | €3,019 | €3,480 | +€460 | +15.2% |
| Recurring financial income | 75 | €3,019 | €3,480 | +€460 | +15.2% |
| Financial charges | 65/66B | €4,692 | €4,270 | -€422 | -9.0% |
| Recurring financial charges | 65 | €4,692 | €4,270 | -€422 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €12,202 | €24,510 | +€12,308 | +101% |
| Income taxes | 67/77 | €2,745 | €7,015 | +€4,270 | +156% |
| Profit (loss) for the period | 9904 | €9,457 | €17,495 | +€8,038 | +85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,457 | €17,495 | +€8,038 | +85.0% |
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 23 October 2026 via checked.be.