Groep SDC: 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.
Groep SDC
Largest movements
- Cash +€57,281
up €57,281 (+200%), from €28,686 to €85,967
mainly Depreciation (+€63,695) and Net result for the year (+€24,543)
- Tangible fixed assets -€33,278
down €33,278 (-9.8%), from €338,603 to €305,326
of which Land and buildings: -€30,492
- Receivables within one year -€6,951
down €6,951 (-9.8%), from €70,632 to €63,680
of which Trade receivables: -€3,705
- Reserves +€24,543
up €24,543 (+30.2%), from €81,164 to €105,707
of which Distributable reserves: +€24,543
- Debts after one year -€10,360
down €10,360 (-6.9%), from €149,429 to €139,069
- Tax, wage and social debts +€9,017
up €9,017 (+69.4%), from €12,999 to €22,016
of which Taxes: +€7,152
- Trade debts -€7,212
down €7,212 (-35.7%), from €20,206 to €12,994
- Gross operating margin +€26,080
up €26,080 (+16.2%), from €161,157 to €187,237
- Staff costs +€15,905
up €15,905 (+25.8%), from €61,743 to €77,648
- Depreciation +€9,582
up €9,582 (+17.7%), from €54,113 to €63,695
- Financial charges +€2,563
up €2,563 (+43.7%), from €5,861 to €8,423
- Taxes +€2,047
up €2,047 (+24.5%), from €8,344 to €10,391
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.
Derived cash bridge
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 | €443,707 | €462,618 | +€18,911 | +4.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €338,603 | €305,326 | -€33,278 | -9.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €338,603 | €305,326 | -€33,278 | -9.8% |
| Land and buildings | 22 | €183,705 | €153,213 | -€30,492 | -16.6% |
| Plant, machinery and equipment | 23 | €8,872 | €5,865 | -€3,007 | -33.9% |
| Furniture and vehicles | 24 | €146,026 | €146,248 | +€221 | +0.2% |
| Current assets | 29/58 | €105,104 | €157,293 | +€52,189 | +49.7% |
| Stocks and contracts in progress | 3 | €3,203 | €2,046 | -€1,156 | -36.1% |
| Stocks | 30/36 | €3,203 | €2,046 | -€1,156 | -36.1% |
| Amounts receivable within one year | 40/41 | €70,632 | €63,680 | -€6,951 | -9.8% |
| Trade receivables | 40 | €65,766 | €62,061 | -€3,705 | -5.6% |
| Other amounts receivable | 41 | €4,866 | €1,619 | -€3,247 | -66.7% |
| Cash at bank and in hand | 54/58 | €28,686 | €85,967 | +€57,281 | +200% |
| Deferred charges and accrued income | 490/1 | €2,583 | €5,599 | +€3,015 | +117% |
| Total equity and liabilities | 10/49 | €443,707 | €462,618 | +€18,911 | +4.3% |
| Equity | 10/15 | €195,764 | €220,307 | +€24,543 | +12.5% |
| Contributions | 10/11 | €114,600 | €114,600 | = | 0.0% |
| Reserves | 13 | €81,164 | €105,707 | +€24,543 | +30.2% |
| Tax-exempt reserves | 132 | €56 | €56 | = | 0.0% |
| Distributable reserves | 133 | €81,108 | €105,651 | +€24,543 | +30.3% |
| Amounts payable | 17/49 | €247,943 | €242,311 | -€5,632 | -2.3% |
| Amounts payable after more than one year | 17 | €149,429 | €139,069 | -€10,360 | -6.9% |
| Financial debts | 170/4 | €149,429 | €139,069 | -€10,360 | -6.9% |
| Amounts payable within one year | 42/48 | €97,961 | €103,242 | +€5,282 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €34,264 | €37,839 | +€3,575 | +10.4% |
| Trade debts | 44 | €20,206 | €12,994 | -€7,212 | -35.7% |
| Suppliers | 440/4 | €20,206 | €12,994 | -€7,212 | -35.7% |
| Taxes, remuneration and social security | 45 | €12,999 | €22,016 | +€9,017 | +69.4% |
| Taxes | 450/3 | €500 | €7,652 | +€7,152 | +1,430% |
| Remuneration and social security | 454/9 | €12,499 | €14,364 | +€1,865 | +14.9% |
| Other amounts payable | 47/48 | €30,492 | €30,393 | -€99 | -0.3% |
| Accrued charges and deferred income | 492/3 | €554 | - | -€554 | |
| Non-recurring operating income | 76A | €23,844 | - | -€23,844 | |
| Remuneration, social security and pensions | 62 | €61,743 | €77,648 | +€15,905 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,113 | €63,695 | +€9,582 | +17.7% |
| Other operating charges | 640/8 | €2,633 | €2,771 | +€138 | +5.3% |
| Gross operating margin | 9900 | €161,157 | €187,237 | +€26,080 | +16.2% |
| Operating profit (loss) | 9901 | €42,669 | €43,123 | +€455 | +1.1% |
| Financial income | 75/76B | €74 | €234 | +€160 | +215% |
| Recurring financial income | 75 | €74 | €234 | +€160 | +215% |
| Financial charges | 65/66B | €5,861 | €8,423 | +€2,563 | +43.7% |
| Recurring financial charges | 65 | €5,861 | €8,423 | +€2,563 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | €36,882 | €34,934 | -€1,948 | -5.3% |
| Income taxes | 67/77 | €8,344 | €10,391 | +€2,047 | +24.5% |
| Profit (loss) for the period | 9904 | €28,539 | €24,543 | -€3,996 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,539 | €24,543 | -€3,996 | -14.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.