S.D.M.: 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.M.
Largest movements
- Cash +€3,318
up €3,318 (+63.0%), from €5,267 to €8,585
mainly Net result for the year (+€10,304) and Trade debts (+€9,805)
- Receivables within one year -€2,652
down €2,652 (-5.1%), from €52,484 to €49,833
of which Trade receivables: -€4,332
- Trade debts +€9,805
up €9,805 (+61.5%), from €15,945 to €25,750
- Reserves -€9,696
down €9,696 (-62.8%), from €15,429 to €5,733
of which Distributable reserves: -€9,696
- Financial charges -€4,706
down €4,706 (-84.8%), from €5,553 to €846
- Purchases and services -€3,028
down €3,028 (-4.2%), from €72,791 to €69,763
- Gross operating margin -€2,186
down €2,186 (-11.6%), from €18,787 to €16,601
- Taxes +€495
up €495 (+15.0%), from €3,300 to €3,794
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 | €60,108 | €60,233 | +€125 | +0.2% |
| Fixed assets | 21/28 | €2,357 | €1,816 | -€541 | -22.9% |
| Tangible fixed assets | 22/27 | €2,357 | €1,816 | -€541 | -22.9% |
| Furniture and vehicles | 24 | €587 | €227 | -€360 | -61.3% |
| Other tangible fixed assets | 26 | €1,770 | €1,589 | -€181 | -10.2% |
| Current assets | 29/58 | €57,751 | €58,417 | +€666 | +1.2% |
| Amounts receivable within one year | 40/41 | €52,484 | €49,833 | -€2,652 | -5.1% |
| Trade receivables | 40 | €5,097 | €765 | -€4,332 | -85.0% |
| Other amounts receivable | 41 | €47,388 | €49,068 | +€1,680 | +3.5% |
| Cash at bank and in hand | 54/58 | €5,267 | €8,585 | +€3,318 | +63.0% |
| Total equity and liabilities | 10/49 | €60,108 | €60,233 | +€125 | +0.2% |
| Equity | 10/15 | €21,629 | €11,933 | -€9,696 | -44.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,429 | €5,733 | -€9,696 | -62.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,569 | €3,873 | -€9,696 | -71.5% |
| Amounts payable | 17/49 | €38,479 | €48,301 | +€9,821 | +25.5% |
| Amounts payable within one year | 42/48 | €38,479 | €48,301 | +€9,821 | +25.5% |
| Financial debts | 43 | €10 | - | -€10 | |
| Credit institutions | 430/8 | €10 | - | -€10 | |
| Trade debts | 44 | €15,945 | €25,750 | +€9,805 | +61.5% |
| Suppliers | 440/4 | €15,945 | €25,750 | +€9,805 | +61.5% |
| Taxes, remuneration and social security | 45 | €22,524 | €22,551 | +€26 | +0.1% |
| Taxes | 450/3 | €22,524 | €22,551 | +€26 | +0.1% |
| Non-recurring operating income | 76A | €1,232 | - | -€1,232 | |
| Goods, raw materials, services and sundry goods | 60/61 | €72,791 | €69,763 | -€3,028 | -4.2% |
| Remuneration, social security and pensions | 62 | €324 | €383 | +€59 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €724 | €541 | -€184 | -25.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €333 | +€333 | |
| Gross operating margin | 9900 | €18,787 | €16,601 | -€2,186 | -11.6% |
| Operating profit (loss) | 9901 | €17,351 | €14,945 | -€2,407 | -13.9% |
| Financial charges | 65/66B | €5,553 | €846 | -€4,706 | -84.8% |
| Recurring financial charges | 65 | €5,553 | €846 | -€4,706 | -84.8% |
| Profit (loss) for the period before taxes | 9903 | €11,799 | €14,098 | +€2,300 | +19.5% |
| Income taxes | 67/77 | €3,300 | €3,794 | +€495 | +15.0% |
| Profit (loss) for the period | 9904 | €8,499 | €10,304 | +€1,805 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,499 | €10,304 | +€1,805 | +21.2% |
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 13 October 2026 via checked.be.