SSGL: 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.
SSGL
Largest movements
- Cash +€945,384
up €945,384 (+18959.0%), from €4,986 to €950,371
mainly Other debts (+€1.0m) and Net result for the year (+€171,498)
- Stocks and contracts +€179,912
up €179,912 (+8.2%), from €2.2m to €2.4m
- Other debts +€1.0m
up €1.0m (+108.9%), from €948,663 to €2.0m
- Reserves +€171,498
new in 2025: €171,498
- Short-term financial debts -€45,454
down €45,454 (-3.4%), from €1.3m to €1.3m
- Gross operating margin +€293,623
up €293,623 (+1381.5%), from €21,254 to €314,877
- Taxes +€78,476
up €78,476, from €0 to €78,476
- Financial charges +€38,598
up €38,598 (+406.6%), from €9,493 to €48,091
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 | €2,752,348 | €3,864,600 | +€1.1m | +40.4% |
| Fixed assets | 21/28 | €544,648 | €531,661 | -€12,988 | -2.4% |
| Tangible fixed assets | 22/27 | €544,648 | €529,933 | -€14,716 | -2.7% |
| Land and buildings | 22 | €525,503 | €513,787 | -€11,716 | -2.2% |
| Furniture and vehicles | 24 | €19,145 | €16,145 | -€3,000 | -15.7% |
| Financial fixed assets | 28 | - | €1,728 | +€1,728 | |
| Current assets | 29/58 | €2,207,700 | €3,332,940 | +€1.1m | +51.0% |
| Stocks and contracts in progress | 3 | €2,201,410 | €2,381,321 | +€179,912 | +8.2% |
| Stocks | 30/36 | €2,201,410 | €2,381,321 | +€179,912 | +8.2% |
| Amounts receivable within one year | 40/41 | €378 | €11 | -€367 | -97.1% |
| Trade receivables | 40 | €367 | €0 | -€367 | -100.0% |
| Other amounts receivable | 41 | €11 | €11 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,986 | €950,371 | +€945,384 | +18959.0% |
| Deferred charges and accrued income | 490/1 | €926 | €1,237 | +€311 | +33.6% |
| Total equity and liabilities | 10/49 | €2,752,348 | €3,864,600 | +€1.1m | +40.4% |
| Equity | 10/15 | €3,000 | €174,498 | +€171,498 | +5716.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €171,498 | +€171,498 | |
| Distributable reserves | 133 | - | €171,498 | +€171,498 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,749,348 | €3,690,102 | +€940,755 | +34.2% |
| Amounts payable after more than one year | 17 | €382,938 | €360,743 | -€22,194 | -5.8% |
| Financial debts | 170/4 | €382,938 | €360,743 | -€22,194 | -5.8% |
| Amounts payable within one year | 42/48 | €2,359,866 | €3,318,060 | +€958,194 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €21,872 | €22,194 | +€322 | +1.5% |
| Financial debts | 43 | €1,328,037 | €1,282,583 | -€45,454 | -3.4% |
| Credit institutions | 430/8 | €1,328,037 | €1,282,583 | -€45,454 | -3.4% |
| Trade debts | 44 | €28,120 | €13,257 | -€14,863 | -52.9% |
| Suppliers | 440/4 | €28,120 | €13,257 | -€14,863 | -52.9% |
| Taxes, remuneration and social security | 45 | €33,174 | €18,476 | -€14,699 | -44.3% |
| Taxes | 450/3 | €33,174 | €18,476 | -€14,699 | -44.3% |
| Other amounts payable | 47/48 | €948,663 | €1,981,550 | +€1.0m | +108.9% |
| Accrued charges and deferred income | 492/3 | €6,544 | €11,299 | +€4,755 | +72.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,630 | €14,716 | +€86 | +0.6% |
| Other operating charges | 640/8 | €2,112 | €2,176 | +€64 | +3.0% |
| Gross operating margin | 9900 | €21,254 | €314,877 | +€293,623 | +1381.5% |
| Operating profit (loss) | 9901 | €4,511 | €297,985 | +€293,474 | +6505.6% |
| Financial income | 75/76B | - | €80 | +€80 | |
| Recurring financial income | 75 | - | €80 | +€80 | |
| Financial charges | 65/66B | €9,493 | €48,091 | +€38,598 | +406.6% |
| Recurring financial charges | 65 | €9,493 | €48,091 | +€38,598 | +406.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,982 | €249,974 | +€254,955 | |
| Income taxes | 67/77 | €0 | €78,476 | +€78,476 | |
| Profit (loss) for the period | 9904 | -€4,982 | €171,498 | +€176,480 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,982 | €171,498 | +€176,480 |
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 29 September 2026 via checked.be.