S.D.P.J.: 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.P.J.
Largest movements
- Cash -€228,903
down €228,903 (-82.6%), from €277,290 to €48,387
mainly Net result for the year (-€407,496) and Receivables within one year (-€70,351)
- Current investments -€150,000
down €150,000 (-21.4%), from €700,000 to €550,000
- Receivables within one year +€70,351
up €70,351 (+18.7%), from €376,058 to €446,409
of which Trade receivables: +€57,280
- Profit (loss) carried forward -€407,496
down €407,496 (-12.0%), from -€3.4m to -€3.8m
- Trade debts +€123,292
new in 2025: €123,292
- Debts after one year +€73,268
up €73,268 (+0.8%), from €8.9m to €9.0m
- Financial charges -€154,546
down €154,546 (-29.4%), from €525,484 to €370,938
- Financial income +€27,834
up €27,834 (+193%), from €14,442 to €42,276
- Gross operating margin -€23,457
down €23,457 (-48.5%), from -€48,389 to -€71,846
- Taxes +€1,548
up €1,548 (+37.3%), from €4,147 to €5,695
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 | €5,541,485 | €5,310,800 | -€230,685 | -4.2% |
| Fixed assets | 21/28 | €29,505 | €60,865 | +€31,360 | +106% |
| Financial fixed assets | 28 | €29,505 | €60,865 | +€31,360 | +106% |
| Current assets | 29/58 | €5,511,980 | €5,249,935 | -€262,045 | -4.8% |
| Stocks and contracts in progress | 3 | €4,158,632 | €4,205,139 | +€46,507 | +1.1% |
| Stocks | 30/36 | €4,158,632 | €4,205,139 | +€46,507 | +1.1% |
| Amounts receivable within one year | 40/41 | €376,058 | €446,409 | +€70,351 | +18.7% |
| Trade receivables | 40 | €368,472 | €425,752 | +€57,280 | +15.5% |
| Other amounts receivable | 41 | €7,586 | €20,657 | +€13,071 | +172% |
| Current investments | 50/53 | €700,000 | €550,000 | -€150,000 | -21.4% |
| Cash at bank and in hand | 54/58 | €277,290 | €48,387 | -€228,903 | -82.6% |
| Total equity and liabilities | 10/49 | €5,541,485 | €5,310,800 | -€230,685 | -4.2% |
| Equity | 10/15 | -€3,376,160 | -€3,783,656 | -€407,496 | -12.1% |
| Contributions | 10/11 | €22,100 | €22,100 | = | 0.0% |
| Reserves | 13 | €2,210 | €2,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,210 | €2,210 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,210 | €2,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,400,470 | -€3,807,966 | -€407,496 | -12.0% |
| Amounts payable | 17/49 | €8,917,645 | €9,094,456 | +€176,811 | +2.0% |
| Amounts payable after more than one year | 17 | €8,897,896 | €8,971,164 | +€73,268 | +0.8% |
| Financial debts | 170/4 | €8,897,896 | €8,971,164 | +€73,268 | +0.8% |
| Amounts payable within one year | 42/48 | €19,749 | €123,292 | +€103,543 | +524% |
| Trade debts | 44 | - | €123,292 | +€123,292 | |
| Suppliers | 440/4 | - | €123,292 | +€123,292 | |
| Advances received on contracts in progress | 46 | €19,749 | - | -€19,749 | |
| Other operating charges | 640/8 | €1,150 | €1,293 | +€143 | +12.4% |
| Gross operating margin | 9900 | -€48,389 | -€71,846 | -€23,457 | -48.5% |
| Operating profit (loss) | 9901 | -€49,539 | -€73,139 | -€23,600 | -47.6% |
| Financial income | 75/76B | €14,442 | €42,276 | +€27,834 | +193% |
| Recurring financial income | 75 | €14,442 | €42,276 | +€27,834 | +193% |
| Financial charges | 65/66B | €525,484 | €370,938 | -€154,546 | -29.4% |
| Recurring financial charges | 65 | €525,484 | €370,938 | -€154,546 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | -€560,581 | -€401,801 | +€158,780 | +28.3% |
| Income taxes | 67/77 | €4,147 | €5,695 | +€1,548 | +37.3% |
| Profit (loss) for the period | 9904 | -€564,728 | -€407,496 | +€157,232 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€564,728 | -€407,496 | +€157,232 | +27.8% |
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 27 October 2026 via checked.be.