S.D. INVEST: 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.
S.D. INVEST
Largest movements
- Current assets -€83,139
down €83,139 (-10.3%), from €806,477 to €723,338
of which Cash: -€42,673
- Financial fixed assets +€20,000
up €20,000 (+8.6%), from €232,773 to €252,773
- Debts after one year -€46,953
down €46,953 (-9.7%), from €482,063 to €435,110
- Reserves -€19,245
down €19,245 (-3.6%), from €538,020 to €518,775
- Write-downs +€27,630
new in 2021: €27,630
- Gross operating margin -€14,355
down €14,355 (-29.6%), from €48,494 to €34,139
- Financial charges +€8,587
new in 2021: €8,587
- Other operating charges +€6,604
new in 2021: €6,604
- Depreciation -€1,292
down €1,292 (-10.0%), from €12,916 to €11,625
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,360,496 | €1,285,732 | -€74,764 | -5.5% |
| Fixed assets | 21/28 | €554,019 | €562,394 | +€8,375 | +1.5% |
| Tangible fixed assets | 22/27 | €321,246 | €309,622 | -€11,625 | -3.6% |
| Land and buildings | 22 | - | €309,622 | +€309,622 | |
| Financial fixed assets | 28 | €232,773 | €252,773 | +€20,000 | +8.6% |
| Current assets | 29/58 | €806,477 | €723,338 | -€83,139 | -10.3% |
| Amounts receivable within one year | 40/41 | €717,815 | €703,649 | -€14,166 | -2.0% |
| Trade receivables | 40 | - | €69,857 | +€69,857 | |
| Other amounts receivable | 41 | - | €633,792 | +€633,792 | |
| Cash at bank and in hand | 54/58 | €60,562 | €17,889 | -€42,673 | -70.5% |
| Deferred charges and accrued income | 490/1 | - | €1,800 | +€1,800 | |
| Total equity and liabilities | 10/49 | €1,360,496 | €1,285,732 | -€74,764 | -5.5% |
| Equity | 10/15 | €612,389 | €593,143 | -€19,245 | -3.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | - | €74,368 | +€74,368 | |
| Issued capital | 100 | - | €74,368 | +€74,368 | |
| Reserves | 13 | €538,020 | €518,775 | -€19,245 | -3.6% |
| Non-distributable reserves | 130/1 | - | €7,437 | +€7,437 | |
| Legal reserve | 130 | - | €7,437 | +€7,437 | |
| Distributable reserves | 133 | - | €511,338 | +€511,338 | |
| Amounts payable | 17/49 | €748,107 | €692,589 | -€55,519 | -7.4% |
| Amounts payable after more than one year | 17 | €482,063 | €435,110 | -€46,953 | -9.7% |
| Financial debts | 170/4 | - | €435,110 | +€435,110 | |
| Amounts payable within one year | 42/48 | €266,044 | €257,479 | -€8,565 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | - | €46,953 | +€46,953 | |
| Trade debts | 44 | €14,080 | €18,032 | +€3,951 | +28.1% |
| Suppliers | 440/4 | - | €18,032 | +€18,032 | |
| Taxes, remuneration and social security | 45 | - | €4,255 | +€4,255 | |
| Taxes | 450/3 | - | €4,255 | +€4,255 | |
| Other amounts payable | 47/48 | - | €188,239 | +€188,239 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,916 | €11,625 | -€1,292 | -10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,630 | +€27,630 | |
| Other operating charges | 640/8 | - | €6,604 | +€6,604 | |
| Gross operating margin | 9900 | €48,494 | €34,139 | -€14,355 | -29.6% |
| Operating profit (loss) | 9901 | €29,178 | -€11,720 | -€40,897 | |
| Financial income | 75/76B | - | €1,062 | +€1,062 | |
| Recurring financial income | 75 | €20 | €1,062 | +€1,042 | +5,222% |
| Financial charges | 65/66B | - | €8,587 | +€8,587 | |
| Recurring financial charges | 65 | €9,194 | €8,587 | -€607 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €20,004 | -€19,245 | -€39,249 | |
| Profit (loss) for the period | 9904 | €20,004 | -€19,245 | -€39,249 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,004 | -€19,245 | -€39,249 |
Source: filed annual accounts (NBB), financial years ended 30 September 2020 and 30 September 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.