SNGROUP: 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.
SNGROUP
Largest movements
- Cash +€201,189
up €201,189 (+48.0%), from €419,413 to €620,603
mainly Receivables within one year (+€180,589) and Net result for the year (+€144,554)
- Receivables within one year -€180,589
down €180,589 (-53.1%), from €339,944 to €159,356
of which Trade receivables: -€155,657
- Stocks and contracts +€141,352
up €141,352 (+167.4%), from €84,420 to €225,772
of which Stocks: +€96,352
- Tangible fixed assets -€15,063
down €15,063 (-13.2%), from €114,313 to €99,249
of which Land and buildings: -€12,991
- Reserves +€144,554
up €144,554 (+21.4%), from €676,235 to €820,789
- Trade debts +€25,139
up €25,139 (+18.8%), from €133,909 to €159,049
- Short-term financial debts +€20,000
new in 2025: €20,000
- Tax, wage and social debts -€15,791
down €15,791 (-28.0%), from €56,398 to €40,608
of which Remuneration and social security: -€12,349
- Gross operating margin -€70,346
down €70,346 (-11.8%), from €595,347 to €525,001
- Taxes -€29,668
down €29,668 (-28.8%), from €102,932 to €73,264
- Staff costs +€24,925
up €24,925 (+10.4%), from €238,663 to €263,588
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 | €965,703 | €1,120,628 | +€154,925 | +16.0% |
| Fixed assets | 21/28 | €114,313 | €99,249 | -€15,063 | -13.2% |
| Tangible fixed assets | 22/27 | €114,313 | €99,249 | -€15,063 | -13.2% |
| Land and buildings | 22 | €90,005 | €77,014 | -€12,991 | -14.4% |
| Plant, machinery and equipment | 23 | €10,778 | €11,465 | +€687 | +6.4% |
| Furniture and vehicles | 24 | €13,530 | €10,771 | -€2,759 | -20.4% |
| Current assets | 29/58 | €851,391 | €1,021,379 | +€169,988 | +20.0% |
| Stocks and contracts in progress | 3 | €84,420 | €225,772 | +€141,352 | +167.4% |
| Stocks | 30/36 | €84,420 | €180,772 | +€96,352 | +114.1% |
| Contracts in progress | 37 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €339,944 | €159,356 | -€180,589 | -53.1% |
| Trade receivables | 40 | €284,163 | €128,507 | -€155,657 | -54.8% |
| Other amounts receivable | 41 | €55,781 | €30,849 | -€24,932 | -44.7% |
| Cash at bank and in hand | 54/58 | €419,413 | €620,603 | +€201,189 | +48.0% |
| Deferred charges and accrued income | 490/1 | €7,613 | €15,648 | +€8,036 | +105.6% |
| Total equity and liabilities | 10/49 | €965,703 | €1,120,628 | +€154,925 | +16.0% |
| Equity | 10/15 | €714,538 | €859,092 | +€144,554 | +20.2% |
| Contributions | 10/11 | €37,600 | €37,600 | = | 0.0% |
| Reserves | 13 | €676,235 | €820,789 | +€144,554 | +21.4% |
| Distributable reserves | 133 | €676,235 | €820,789 | +€144,554 | +21.4% |
| Profit (loss) carried forward | 14 | €703 | €703 | = | 0.0% |
| Amounts payable | 17/49 | €251,165 | €261,536 | +€10,371 | +4.1% |
| Amounts payable after more than one year | 17 | €28,491 | €21,513 | -€6,978 | -24.5% |
| Financial debts | 170/4 | €28,491 | €21,513 | -€6,978 | -24.5% |
| Amounts payable within one year | 42/48 | €218,214 | €240,023 | +€21,809 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €6,785 | €6,978 | +€194 | +2.9% |
| Financial debts | 43 | - | €20,000 | +€20,000 | |
| Credit institutions | 430/8 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €133,909 | €159,049 | +€25,139 | +18.8% |
| Suppliers | 440/4 | €133,909 | €159,049 | +€25,139 | +18.8% |
| Taxes, remuneration and social security | 45 | €56,398 | €40,608 | -€15,791 | -28.0% |
| Taxes | 450/3 | €41,057 | €37,615 | -€3,442 | -8.4% |
| Remuneration and social security | 454/9 | €15,341 | €2,992 | -€12,349 | -80.5% |
| Other amounts payable | 47/48 | €21,122 | €13,388 | -€7,733 | -36.6% |
| Accrued charges and deferred income | 492/3 | €4,460 | - | -€4,460 | |
| Remuneration, social security and pensions | 62 | €238,663 | €263,588 | +€24,925 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,127 | €20,459 | +€332 | +1.6% |
| Other operating charges | 640/8 | €6,181 | €9,806 | +€3,625 | +58.6% |
| Gross operating margin | 9900 | €595,347 | €525,001 | -€70,346 | -11.8% |
| Operating profit (loss) | 9901 | €330,377 | €231,149 | -€99,228 | -30.0% |
| Financial income | 75/76B | €49 | €81 | +€32 | +64.9% |
| Recurring financial income | 75 | €49 | €81 | +€32 | +64.9% |
| Financial charges | 65/66B | €16,104 | €13,412 | -€2,692 | -16.7% |
| Recurring financial charges | 65 | €16,104 | €13,412 | -€2,692 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €314,322 | €217,818 | -€96,504 | -30.7% |
| Income taxes | 67/77 | €102,932 | €73,264 | -€29,668 | -28.8% |
| Profit (loss) for the period | 9904 | €211,390 | €144,554 | -€66,836 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €211,390 | €144,554 | -€66,836 | -31.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.