SGPRO: 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.
SGPRO
Largest movements
- Tangible fixed assets -€99,707
down €99,707 (-17.7%), from €564,485 to €464,778
of which Plant, machinery and equipment: -€93,320
- Receivables within one year +€47,805
up €47,805 (+212%), from €22,523 to €70,328
of which Other amounts receivable: +€45,040
- Cash +€22,377
up €22,377 (+96.8%), from €23,124 to €45,501
mainly Depreciation (+€100,356) and Other debts (+€66,336)
- Debts after one year -€76,099
down €76,099 (-18.6%), from €410,089 to €333,990
- Other debts +€66,336
new in 2026: €66,336
- Short-term financial debts -€61,780
no longer reported in 2026 (was €61,780)
- Tax, wage and social debts +€30,845
up €30,845 (+133%), from €23,239 to €54,084
of which Remuneration and social security: +€25,056
- Trade debts +€17,903
up €17,903 (+6.5%), from €277,272 to €295,175
- Gross operating margin +€72,362
up €72,362 (+19.7%), from €366,559 to €438,921
- Staff costs +€43,454
up €43,454 (+20.8%), from €209,323 to €252,777
- Financial charges -€8,008
down €8,008 (-34.7%), from €23,079 to €15,072
- Taxes +€5,737
up €5,737 (+10,898%), from €53 to €5,790
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €998,195 | €961,753 | -€36,442 | -3.7% |
| Fixed assets | 21/28 | €567,536 | €466,694 | -€100,842 | -17.8% |
| Tangible fixed assets | 22/27 | €564,485 | €464,778 | -€99,707 | -17.7% |
| Plant, machinery and equipment | 23 | €555,436 | €462,116 | -€93,320 | -16.8% |
| Furniture and vehicles | 24 | €9,048 | €2,662 | -€6,387 | -70.6% |
| Financial fixed assets | 28 | €3,051 | €1,916 | -€1,135 | -37.2% |
| Current assets | 29/58 | €430,659 | €495,059 | +€64,400 | +15.0% |
| Stocks and contracts in progress | 3 | €385,012 | €379,230 | -€5,782 | -1.5% |
| Stocks | 30/36 | €385,012 | €379,230 | -€5,782 | -1.5% |
| Amounts receivable within one year | 40/41 | €22,523 | €70,328 | +€47,805 | +212% |
| Trade receivables | 40 | €1,142 | €3,908 | +€2,765 | +242% |
| Other amounts receivable | 41 | €21,380 | €66,420 | +€45,040 | +211% |
| Cash at bank and in hand | 54/58 | €23,124 | €45,501 | +€22,377 | +96.8% |
| Total equity and liabilities | 10/49 | €998,195 | €961,753 | -€36,442 | -3.7% |
| Equity | 10/15 | €137,853 | €121,857 | -€15,996 | -11.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €14,777 | €14,777 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €8,577 | €8,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,075 | €45,080 | -€15,996 | -26.2% |
| Amounts payable | 17/49 | €860,342 | €839,896 | -€20,446 | -2.4% |
| Amounts payable after more than one year | 17 | €410,089 | €333,990 | -€76,099 | -18.6% |
| Financial debts | 170/4 | €410,089 | €333,990 | -€76,099 | -18.6% |
| Amounts payable within one year | 42/48 | €442,839 | €498,515 | +€55,676 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €80,548 | €82,920 | +€2,372 | +2.9% |
| Financial debts | 43 | €61,780 | - | -€61,780 | |
| Credit institutions | 430/8 | €61,780 | - | -€61,780 | |
| Trade debts | 44 | €277,272 | €295,175 | +€17,903 | +6.5% |
| Suppliers | 440/4 | €277,272 | €295,175 | +€17,903 | +6.5% |
| Taxes, remuneration and social security | 45 | €23,239 | €54,084 | +€30,845 | +133% |
| Taxes | 450/3 | - | €5,790 | +€5,790 | |
| Remuneration and social security | 454/9 | €23,239 | €48,294 | +€25,056 | +108% |
| Other amounts payable | 47/48 | - | €66,336 | +€66,336 | |
| Accrued charges and deferred income | 492/3 | €7,414 | €7,391 | -€23 | -0.3% |
| Non-recurring operating income | 76A | - | €7,052 | +€7,052 | |
| Remuneration, social security and pensions | 62 | €209,323 | €252,777 | +€43,454 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,915 | €100,356 | -€2,559 | -2.5% |
| Other operating charges | 640/8 | €18,899 | €15,952 | -€2,947 | -15.6% |
| Gross operating margin | 9900 | €366,559 | €438,921 | +€72,362 | +19.7% |
| Operating profit (loss) | 9901 | €35,422 | €69,836 | +€34,414 | +97.2% |
| Financial income | 75/76B | €5 | €30 | +€25 | +498% |
| Recurring financial income | 75 | €5 | €30 | +€25 | +498% |
| Financial charges | 65/66B | €23,079 | €15,072 | -€8,008 | -34.7% |
| Recurring financial charges | 65 | €23,079 | €15,072 | -€8,008 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €12,348 | €54,794 | +€42,446 | +344% |
| Income taxes | 67/77 | €53 | €5,790 | +€5,737 | +10,898% |
| Profit (loss) for the period | 9904 | €12,295 | €49,004 | +€36,709 | +299% |
| Profit (loss) for the period to be appropriated | 9905 | €12,295 | €49,004 | +€36,709 | +299% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.