SOUTH GROUP: what changed
What changed
SOUTH GROUP
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€74,860
2024 · €76,784-€1,924
Equity
€529,384
2024 · €454,524+€74,860
Cash
€41,723
2024 · €4,545+€37,178
Balance sheet total
€1.2m
2024 · €1.1m+€16,890
Largest movements
Assets
- Cash +€37,178
up €37,178 (+818%), from €4,545 to €41,723
mainly Net result for the year (+€74,860) and Depreciation (+€43,934)
- Tangible fixed assets -€14,391
down €14,391 (-1.3%), from €1.1m to €1.1m
of which Land and buildings: -€35,148
Equity and liabilities
- Reserves +€74,860
up €74,860 (+20.6%), from €363,920 to €438,780
of which Distributable reserves: +€76,608
- Other debts -€55,710
down €55,710 (-21.3%), from €261,305 to €205,595
- Tax, wage and social debts -€16,722
down €16,722 (-64.5%), from €25,927 to €9,204
Income statement
- Depreciation -€17,812
down €17,812 (-28.8%), from €61,746 to €43,934
- Gross operating margin -€10,075
down €10,075 (-4.8%), from €209,222 to €199,146
- Financial charges +€9,158
up €9,158 (+37.3%), from €24,569 to €33,727
- Other operating charges +€2,526
up €2,526 (+34.4%), from €7,333 to €9,858
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€76,784
Gross operating margin
-€10,075
Depreciation
+€17,812
Other operating charges
-€2,526
Financial income
-€20
Financial charges
-€9,158
Taxes
+€2,044
Result 2025
€74,860
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€65,769
Investment
-€29,543
Financing
+€953
Cash 2024
€4,545
From operations (derived)
+€65,769
Net result for the year
+€74,860
Depreciation
+€43,934
Receivables within one year
+€7,394
Deferred charges and accrued income
-€1,496
Provisions
-€437
Trade debts
+€7,178
Tax, wage and social debts
-€16,722
Other debts
-€55,710
Accrued charges and deferred income
+€6,768
Investment (derived)
-€29,543
Investment in fixed assets (net)
-€29,543
Financing
+€953
Debts after one year
+€953
Cash 2025
€41,723
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,149,429 | €1,166,318 | +€16,890 | +1.5% |
| Fixed assets | 21/28 | €1,120,537 | €1,106,146 | -€14,391 | -1.3% |
| Tangible fixed assets | 22/27 | €1,120,387 | €1,105,996 | -€14,391 | -1.3% |
| Land and buildings | 22 | €1,067,480 | €1,032,332 | -€35,148 | -3.3% |
| Plant, machinery and equipment | 23 | €6,809 | €5,911 | -€897 | -13.2% |
| Furniture and vehicles | 24 | €3,477 | €2,803 | -€674 | -19.4% |
| Leasing and similar rights | 25 | €484 | €197 | -€287 | -59.3% |
| Other tangible fixed assets | 26 | €42,137 | €64,752 | +€22,615 | +53.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €28,892 | €60,172 | +€31,281 | +108% |
| Amounts receivable within one year | 40/41 | €22,551 | €15,157 | -€7,394 | -32.8% |
| Trade receivables | 40 | €20,812 | €14,933 | -€5,879 | -28.2% |
| Other amounts receivable | 41 | €1,739 | €224 | -€1,515 | -87.1% |
| Cash at bank and in hand | 54/58 | €4,545 | €41,723 | +€37,178 | +818% |
| Deferred charges and accrued income | 490/1 | €1,796 | €3,292 | +€1,496 | +83.3% |
| Total equity and liabilities | 10/49 | €1,149,429 | €1,166,318 | +€16,890 | +1.5% |
| Equity | 10/15 | €454,524 | €529,384 | +€74,860 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €363,920 | €438,780 | +€74,860 | +20.6% |
| Tax-exempt reserves | 132 | €54,962 | €53,214 | -€1,748 | -3.2% |
| Distributable reserves | 133 | €308,958 | €385,566 | +€76,608 | +24.8% |
| Profit (loss) carried forward | 14 | €72,004 | €72,004 | = | 0.0% |
| Provisions and deferred taxes | 16 | €13,741 | €13,304 | -€437 | -3.2% |
| Deferred taxes | 168 | €13,741 | €13,304 | -€437 | -3.2% |
| Amounts payable | 17/49 | €681,164 | €623,631 | -€57,534 | -8.4% |
| Amounts payable after more than one year | 17 | €367,329 | €368,282 | +€953 | +0.3% |
| Financial debts | 170/4 | €97,589 | €84,282 | -€13,308 | -13.6% |
| Other amounts payable | 178/9 | €269,740 | €284,000 | +€14,260 | +5.3% |
| Amounts payable within one year | 42/48 | €306,636 | €241,382 | -€65,254 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €13,308 | €13,308 | = | 0.0% |
| Trade debts | 44 | €6,096 | €13,275 | +€7,178 | +118% |
| Suppliers | 440/4 | €6,096 | €13,275 | +€7,178 | +118% |
| Taxes, remuneration and social security | 45 | €25,927 | €9,204 | -€16,722 | -64.5% |
| Taxes | 450/3 | €25,927 | €9,204 | -€16,722 | -64.5% |
| Other amounts payable | 47/48 | €261,305 | €205,595 | -€55,710 | -21.3% |
| Accrued charges and deferred income | 492/3 | €7,199 | €13,967 | +€6,768 | +94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,746 | €43,934 | -€17,812 | -28.8% |
| Other operating charges | 640/8 | €7,333 | €9,858 | +€2,526 | +34.4% |
| Gross operating margin | 9900 | €209,222 | €199,146 | -€10,075 | -4.8% |
| Operating profit (loss) | 9901 | €140,143 | €145,354 | +€5,211 | +3.7% |
| Financial income | 75/76B | €20 | €0 | -€20 | -100% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -100% |
| Financial charges | 65/66B | €24,569 | €33,727 | +€9,158 | +37.3% |
| Recurring financial charges | 65 | €24,569 | €33,727 | +€9,158 | +37.3% |
| Profit (loss) for the period before taxes | 9903 | €115,595 | €111,628 | -€3,967 | -3.4% |
| Transfer from deferred taxes | 780 | €437 | €437 | = | 0.0% |
| Income taxes | 67/77 | €39,248 | €37,204 | -€2,044 | -5.2% |
| Profit (loss) for the period | 9904 | €76,784 | €74,860 | -€1,924 | -2.5% |
| Transfer from tax-exempt reserves | 789 | €1,748 | €1,748 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,531 | €76,608 | -€1,924 | -2.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.