S.D. PLACEMENT: 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. PLACEMENT
Largest movements
- Tangible fixed assets -€21,765
down €21,765 (-17.8%), from €122,423 to €100,658
of which Furniture and vehicles: -€22,115
- Receivables within one year -€8,733
down €8,733 (-79.8%), from €10,941 to €2,208
of which Trade receivables: -€9,859
- Profit (loss) carried forward -€15,270
down €15,270 (-56.8%), from €26,874 to €11,604
- Debts after one year -€8,291
down €8,291 (-18.6%), from €44,470 to €36,179
- Tax, wage and social debts -€4,958
down €4,958 (-71.6%), from €6,926 to €1,968
of which Taxes: -€6,691
- Current portion of long-term debt -€3,805
down €3,805 (-31.5%), from €12,097 to €8,291
- Gross operating margin +€6,994
up €6,994 (+13.4%), from €52,264 to €59,258
- Staff costs +€4,057
up €4,057 (+9.6%), from €42,113 to €46,170
- Taxes -€1,993
down €1,993, from €1,985 to -€8
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 | €180,926 | €148,056 | -€32,870 | -18.2% |
| Fixed assets | 21/28 | €122,786 | €101,021 | -€21,765 | -17.7% |
| Tangible fixed assets | 22/27 | €122,423 | €100,658 | -€21,765 | -17.8% |
| Land and buildings | 22 | €53,831 | €52,693 | -€1,138 | -2.1% |
| Plant, machinery and equipment | 23 | €1,481 | €2,969 | +€1,488 | +101% |
| Furniture and vehicles | 24 | €67,111 | €44,997 | -€22,115 | -33.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €58,140 | €47,034 | -€11,105 | -19.1% |
| Amounts receivable within one year | 40/41 | €10,941 | €2,208 | -€8,733 | -79.8% |
| Trade receivables | 40 | €10,782 | €923 | -€9,859 | -91.4% |
| Other amounts receivable | 41 | €159 | €1,285 | +€1,126 | +708% |
| Cash at bank and in hand | 54/58 | €45,617 | €44,433 | -€1,184 | -2.6% |
| Deferred charges and accrued income | 490/1 | €1,582 | €393 | -€1,189 | -75.1% |
| Total equity and liabilities | 10/49 | €180,926 | €148,056 | -€32,870 | -18.2% |
| Equity | 10/15 | €116,432 | €101,162 | -€15,270 | -13.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €83,358 | €83,358 | = | 0.0% |
| Distributable reserves | 133 | €83,358 | €83,358 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,874 | €11,604 | -€15,270 | -56.8% |
| Amounts payable | 17/49 | €64,494 | €46,893 | -€17,600 | -27.3% |
| Amounts payable after more than one year | 17 | €44,470 | €36,179 | -€8,291 | -18.6% |
| Financial debts | 170/4 | €44,470 | €36,179 | -€8,291 | -18.6% |
| Amounts payable within one year | 42/48 | €19,740 | €10,715 | -€9,026 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €12,097 | €8,291 | -€3,805 | -31.5% |
| Trade debts | 44 | €622 | €394 | -€228 | -36.6% |
| Suppliers | 440/4 | €622 | €394 | -€228 | -36.6% |
| Taxes, remuneration and social security | 45 | €6,926 | €1,968 | -€4,958 | -71.6% |
| Taxes | 450/3 | €6,811 | €120 | -€6,691 | -98.2% |
| Remuneration and social security | 454/9 | €115 | €1,848 | +€1,733 | +1,507% |
| Other amounts payable | 47/48 | €96 | €61 | -€35 | -36.3% |
| Accrued charges and deferred income | 492/3 | €283 | - | -€283 | |
| Remuneration, social security and pensions | 62 | €42,113 | €46,170 | +€4,057 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,721 | €24,083 | +€362 | +1.5% |
| Other operating charges | 640/8 | €652 | €932 | +€280 | +43.0% |
| Gross operating margin | 9900 | €52,264 | €59,258 | +€6,994 | +13.4% |
| Operating profit (loss) | 9901 | -€14,223 | -€11,928 | +€2,296 | +16.1% |
| Financial income | 75/76B | €17 | €0 | -€17 | -99.9% |
| Recurring financial income | 75 | €17 | €0 | -€17 | -99.9% |
| Financial charges | 65/66B | €3,825 | €3,350 | -€475 | -12.4% |
| Recurring financial charges | 65 | €3,825 | €3,350 | -€475 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,031 | -€15,277 | +€2,754 | +15.3% |
| Income taxes | 67/77 | €1,985 | -€8 | -€1,993 | |
| Profit (loss) for the period | 9904 | -€20,017 | -€15,270 | +€4,747 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,017 | -€15,270 | +€4,747 | +23.7% |
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 18 October 2026 via checked.be.