SKMG: 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.
SKMG
Largest movements
- Tangible fixed assets +€485,383
up €485,383 (+307.2%), from €158,014 to €643,397
of which Land and buildings: +€486,536
- Deferred charges and accrued income -€26,847
down €26,847 (-95.9%), from €28,000 to €1,153
- Debts after one year +€420,909
new in 2025: €420,909
- Current portion of long-term debt +€23,682
up €23,682, from €0 to €23,682
- Reserves +€20,008
up €20,008 (+4.0%), from €496,919 to €516,927
of which Distributable reserves: +€25,505
- Gross operating margin +€31,623
up €31,623 (+83.9%), from €37,673 to €69,296
- Depreciation +€14,701
up €14,701 (+156.8%), from €9,374 to €24,075
- Financial charges +€10,360
up €10,360 (+1072.0%), from €966 to €11,326
- Taxes +€8,089
up €8,089 (+163.8%), from €4,937 to €13,026
- Other operating charges -€7,217
down €7,217 (-63.9%), from €11,287 to €4,069
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 | €591,563 | €1,056,025 | +€464,462 | +78.5% |
| Fixed assets | 21/28 | €158,564 | €643,947 | +€485,383 | +306.1% |
| Tangible fixed assets | 22/27 | €158,014 | €643,397 | +€485,383 | +307.2% |
| Land and buildings | 22 | €154,995 | €641,531 | +€486,536 | +313.9% |
| Furniture and vehicles | 24 | €2,257 | €1,460 | -€797 | -35.3% |
| Other tangible fixed assets | 26 | €762 | €406 | -€356 | -46.7% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €433,000 | €412,078 | -€20,922 | -4.8% |
| Amounts receivable within one year | 40/41 | €17,652 | €21,206 | +€3,553 | +20.1% |
| Trade receivables | 40 | €2,946 | €4,114 | +€1,168 | +39.7% |
| Other amounts receivable | 41 | €14,706 | €17,092 | +€2,385 | +16.2% |
| Cash at bank and in hand | 54/58 | €387,347 | €389,719 | +€2,372 | +0.6% |
| Deferred charges and accrued income | 490/1 | €28,000 | €1,153 | -€26,847 | -95.9% |
| Total equity and liabilities | 10/49 | €591,563 | €1,056,025 | +€464,462 | +78.5% |
| Equity | 10/15 | €515,519 | €535,527 | +€20,008 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €496,919 | €516,927 | +€20,008 | +4.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €228,945 | €223,449 | -€5,496 | -2.4% |
| Distributable reserves | 133 | €266,114 | €291,618 | +€25,505 | +9.6% |
| Provisions and deferred taxes | 16 | €57,236 | €55,862 | -€1,374 | -2.4% |
| Deferred taxes | 168 | €57,236 | €55,862 | -€1,374 | -2.4% |
| Amounts payable | 17/49 | €18,808 | €464,635 | +€445,828 | +2370.4% |
| Amounts payable after more than one year | 17 | - | €420,909 | +€420,909 | |
| Financial debts | 170/4 | - | €420,909 | +€420,909 | |
| Amounts payable within one year | 42/48 | €18,808 | €43,726 | +€24,918 | +132.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | €23,682 | +€23,682 | |
| Trade debts | 44 | €4,156 | €5,098 | +€942 | +22.7% |
| Suppliers | 440/4 | €4,156 | €5,098 | +€942 | +22.7% |
| Taxes, remuneration and social security | 45 | €4,937 | €14,946 | +€10,010 | +202.7% |
| Taxes | 450/3 | €4,937 | €14,946 | +€10,010 | +202.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €9,715 | €0 | -€9,715 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,374 | €24,075 | +€14,701 | +156.8% |
| Other operating charges | 640/8 | €11,287 | €4,069 | -€7,217 | -63.9% |
| Gross operating margin | 9900 | €37,673 | €69,296 | +€31,623 | +83.9% |
| Operating profit (loss) | 9901 | €17,013 | €41,152 | +€24,139 | +141.9% |
| Financial income | 75/76B | €326 | €1,834 | +€1,508 | +461.9% |
| Recurring financial income | 75 | €326 | €1,834 | +€1,508 | +461.9% |
| Financial charges | 65/66B | €966 | €11,326 | +€10,360 | +1072.0% |
| Recurring financial charges | 65 | €966 | €11,326 | +€10,360 | +1072.0% |
| Profit (loss) for the period before taxes | 9903 | €16,373 | €31,660 | +€15,287 | +93.4% |
| Transfer from deferred taxes | 780 | - | €1,374 | +€1,374 | |
| Income taxes | 67/77 | €4,937 | €13,026 | +€8,089 | +163.8% |
| Profit (loss) for the period | 9904 | €11,436 | €20,008 | +€8,572 | +75.0% |
| Transfer from tax-exempt reserves | 789 | - | €5,496 | +€5,496 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,436 | €25,505 | +€14,069 | +123.0% |
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 5 October 2026 via checked.be.