PSQ by SD: 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.
PSQ by SD
Largest movements
- Current investments +€25,500
new in 2025: €25,500
- Cash +€11,540
up €11,540 (+18.8%), from €61,269 to €72,810
mainly Net result for the year (+€40,183) and Other debts (+€628)
- Receivables within one year +€1,123
up €1,123 (+10.3%), from €10,917 to €12,040
- Reserves +€39,350
up €39,350 (+76.6%), from €51,354 to €90,705
- Tax, wage and social debts -€1,417
down €1,417 (-8.1%), from €17,532 to €16,114
- Gross operating margin -€13,703
down €13,703 (-20.4%), from €67,124 to €53,421
- Taxes -€2,338
down €2,338 (-17.7%), from €13,205 to €10,867
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 | €72,969 | €112,127 | +€39,158 | +53.7% |
| Fixed assets | 21/28 | €782 | €1,777 | +€995 | +127.1% |
| Tangible fixed assets | 22/27 | €782 | €1,777 | +€995 | +127.1% |
| Plant, machinery and equipment | 23 | €782 | €1,777 | +€995 | +127.1% |
| Current assets | 29/58 | €72,186 | €110,350 | +€38,164 | +52.9% |
| Amounts receivable within one year | 40/41 | €10,917 | €12,040 | +€1,123 | +10.3% |
| Trade receivables | 40 | €10,917 | €12,040 | +€1,123 | +10.3% |
| Current investments | 50/53 | - | €25,500 | +€25,500 | |
| Cash at bank and in hand | 54/58 | €61,269 | €72,810 | +€11,540 | +18.8% |
| Total equity and liabilities | 10/49 | €72,969 | €112,127 | +€39,158 | +53.7% |
| Equity | 10/15 | €53,854 | €93,205 | +€39,350 | +73.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €51,354 | €90,705 | +€39,350 | +76.6% |
| Distributable reserves | 133 | €51,354 | €90,705 | +€39,350 | +76.6% |
| Amounts payable | 17/49 | €19,114 | €18,922 | -€192 | -1.0% |
| Amounts payable within one year | 42/48 | €19,114 | €18,922 | -€192 | -1.0% |
| Trade debts | 44 | - | €597 | +€597 | |
| Suppliers | 440/4 | - | €597 | +€597 | |
| Taxes, remuneration and social security | 45 | €17,532 | €16,114 | -€1,417 | -8.1% |
| Taxes | 450/3 | €17,532 | €16,114 | -€1,417 | -8.1% |
| Other amounts payable | 47/48 | €1,583 | €2,211 | +€628 | +39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217 | €397 | +€179 | +82.6% |
| Gross operating margin | 9900 | €67,124 | €53,421 | -€13,703 | -20.4% |
| Operating profit (loss) | 9901 | €66,907 | €53,025 | -€13,883 | -20.7% |
| Financial charges | 65/66B | €1,515 | €1,974 | +€459 | +30.3% |
| Recurring financial charges | 65 | €1,515 | €1,974 | +€459 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €65,392 | €51,050 | -€14,342 | -21.9% |
| Income taxes | 67/77 | €13,205 | €10,867 | -€2,338 | -17.7% |
| Profit (loss) for the period | 9904 | €52,187 | €40,183 | -€12,004 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,187 | €40,183 | -€12,004 | -23.0% |
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 9 October 2026 via checked.be.