S.D.A.: 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.
S.D.A.
Largest movements
- Cash -€51,969
down €51,969 (-25.2%), from €206,560 to €154,591
mainly Current investments (-€45,075) and Stocks and contracts (-€9,345)
- Current investments +€45,075
new in 2025: €45,075
- Tangible fixed assets -€10,770
down €10,770 (-51.8%), from €20,798 to €10,028
of which Furniture and vehicles: -€6,506
- Stocks and contracts +€9,345
up €9,345 (+21.2%), from €44,131 to €53,476
- Receivables within one year +€6,760
new in 2025: €6,760
- Advances received -€3,700
down €3,700 (-82.2%), from €4,500 to €800
- Gross operating margin +€34,807
up €34,807, from -€22,291 to €12,516
- Depreciation -€1,527
down €1,527 (-12.4%), from €12,297 to €10,770
- Financial income +€246
up €246 (+25.9%), from €948 to €1,194
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 | €271,539 | €269,980 | -€1,559 | -0.6% |
| Fixed assets | 21/28 | €20,848 | €10,078 | -€10,770 | -51.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €20,798 | €10,028 | -€10,770 | -51.8% |
| Land and buildings | 22 | €3,019 | €1,570 | -€1,449 | -48.0% |
| Plant, machinery and equipment | 23 | €10,883 | €8,068 | -€2,815 | -25.9% |
| Furniture and vehicles | 24 | €6,896 | €390 | -€6,506 | -94.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €250,691 | €259,902 | +€9,211 | +3.7% |
| Stocks and contracts in progress | 3 | €44,131 | €53,476 | +€9,345 | +21.2% |
| Stocks | 30/36 | €44,131 | €53,476 | +€9,345 | +21.2% |
| Amounts receivable within one year | 40/41 | - | €6,760 | +€6,760 | |
| Trade receivables | 40 | - | €6,760 | +€6,760 | |
| Current investments | 50/53 | - | €45,075 | +€45,075 | |
| Cash at bank and in hand | 54/58 | €206,560 | €154,591 | -€51,969 | -25.2% |
| Total equity and liabilities | 10/49 | €271,539 | €269,980 | -€1,559 | -0.6% |
| Equity | 10/15 | €252,645 | €254,547 | +€1,902 | +0.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €232,645 | €234,547 | +€1,902 | +0.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €230,645 | €232,547 | +€1,902 | +0.8% |
| Amounts payable | 17/49 | €18,894 | €15,433 | -€3,461 | -18.3% |
| Amounts payable within one year | 42/48 | €18,894 | €15,433 | -€3,461 | -18.3% |
| Trade debts | 44 | €9,705 | €9,879 | +€174 | +1.8% |
| Suppliers | 440/4 | €9,705 | €9,879 | +€174 | +1.8% |
| Advances received on contracts in progress | 46 | €4,500 | €800 | -€3,700 | -82.2% |
| Taxes, remuneration and social security | 45 | €2,119 | €2,140 | +€21 | +1.0% |
| Taxes | 450/3 | €119 | €140 | +€21 | +17.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €2,570 | €2,614 | +€44 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,297 | €10,770 | -€1,527 | -12.4% |
| Other operating charges | 640/8 | €789 | €818 | +€29 | +3.7% |
| Gross operating margin | 9900 | -€22,291 | €12,516 | +€34,807 | |
| Operating profit (loss) | 9901 | -€35,377 | €928 | +€36,305 | |
| Financial income | 75/76B | €948 | €1,194 | +€246 | +25.9% |
| Recurring financial income | 75 | €948 | €1,194 | +€246 | +25.9% |
| Financial charges | 65/66B | €68 | €83 | +€15 | +22.1% |
| Recurring financial charges | 65 | €68 | €83 | +€15 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,497 | €2,039 | +€36,536 | |
| Income taxes | 67/77 | €119 | €137 | +€18 | +15.1% |
| Profit (loss) for the period | 9904 | -€34,616 | €1,902 | +€36,518 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,616 | €1,902 | +€36,518 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.