SQG: 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.
SQG
Largest movements
- Financial fixed assets +€2.2m
up €2.2m (+1283.5%), from €173,550 to €2.4m
- Receivables within one year +€446,079
up €446,079 (+120.7%), from €369,684 to €815,763
of which Other amounts receivable: +€370,000
- Current investments -€324,139
down €324,139 (-100.0%), from €324,139 to €0
- Cash -€37,704
down €37,704 (-56.6%), from €66,652 to €28,948
mainly Investment in fixed assets (net) (-€2.2m) and Receivables within one year (-€446,079)
- Contributions +€2.2m
up €2.2m (+1113.7%), from €200,000 to €2.4m
- Other debts +€50,000
up €50,000 (+4.8%), from €1.1m to €1.1m
- Accrued charges and deferred income -€35,735
down €35,735 (-44.9%), from €79,521 to €43,786
- Financial income -€46,259
down €46,259 (-14.8%), from €311,905 to €265,646
- Gross operating margin +€32,659
up €32,659 (+13.9%), from -€234,418 to -€201,759
- Financial charges -€7,872
down €7,872 (-15.2%), from €51,734 to €43,862
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 | €1,254,208 | €3,533,345 | +€2.3m | +181.7% |
| Fixed assets | 21/28 | €173,550 | €2,401,000 | +€2.2m | +1283.5% |
| Financial fixed assets | 28 | €173,550 | €2,401,000 | +€2.2m | +1283.5% |
| Current assets | 29/58 | €1,080,658 | €1,132,345 | +€51,687 | +4.8% |
| Amounts receivable within one year | 40/41 | €369,684 | €815,763 | +€446,079 | +120.7% |
| Trade receivables | 40 | €357,076 | €433,155 | +€76,079 | +21.3% |
| Other amounts receivable | 41 | €12,607 | €382,607 | +€370,000 | +2934.8% |
| Current investments | 50/53 | €324,139 | €0 | -€324,139 | -100.0% |
| Cash at bank and in hand | 54/58 | €66,652 | €28,948 | -€37,704 | -56.6% |
| Deferred charges and accrued income | 490/1 | €320,183 | €287,634 | -€32,549 | -10.2% |
| Total equity and liabilities | 10/49 | €1,254,208 | €3,533,345 | +€2.3m | +181.7% |
| Equity | 10/15 | €54,266 | €2,301,228 | +€2.2m | +4140.6% |
| Contributions | 10/11 | €200,000 | €2,427,450 | +€2.2m | +1113.7% |
| Profit (loss) carried forward | 14 | -€145,734 | -€126,222 | +€19,511 | +13.4% |
| Amounts payable | 17/49 | €1,199,942 | €1,232,117 | +€32,175 | +2.7% |
| Amounts payable within one year | 42/48 | €1,120,421 | €1,188,331 | +€67,910 | +6.1% |
| Trade debts | 44 | €70,421 | €88,331 | +€17,910 | +25.4% |
| Suppliers | 440/4 | €70,421 | €88,331 | +€17,910 | +25.4% |
| Other amounts payable | 47/48 | €1,050,000 | €1,100,000 | +€50,000 | +4.8% |
| Accrued charges and deferred income | 492/3 | €79,521 | €43,786 | -€35,735 | -44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €0 | -€417 | -100.0% |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€234,418 | -€201,759 | +€32,659 | +13.9% |
| Operating profit (loss) | 9901 | -€235,334 | -€202,272 | +€33,062 | +14.0% |
| Financial income | 75/76B | €311,905 | €265,646 | -€46,259 | -14.8% |
| Recurring financial income | 75 | €311,905 | €265,646 | -€46,259 | -14.8% |
| Financial charges | 65/66B | €51,734 | €43,862 | -€7,872 | -15.2% |
| Recurring financial charges | 65 | €51,734 | €43,862 | -€7,872 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €24,837 | €19,511 | -€5,326 | -21.4% |
| Profit (loss) for the period | 9904 | €24,837 | €19,511 | -€5,326 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,837 | €19,511 | -€5,326 | -21.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.