S.S.D: 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.S.D
Largest movements
- Financial fixed assets -€40,933
down €40,933 (-11.8%), from €347,470 to €306,537
- Cash -€19,042
down €19,042 (-78.6%), from €24,241 to €5,199
mainly Advances received (-€35,985) and Debts after one year (-€13,238)
- Receivables within one year +€7,832
up €7,832 (+79.5%), from €9,853 to €17,684
of which Trade receivables: +€7,832
- Advances received -€35,985
down €35,985 (-51.4%), from €70,000 to €34,015
- Debts after one year -€13,238
down €13,238 (-23.7%), from €55,813 to €42,575
- Tax, wage and social debts -€11,034
down €11,034 (-38.8%), from €28,410 to €17,376
- Current portion of long-term debt -€10,090
down €10,090 (-43.3%), from €23,328 to €13,238
- Profit (loss) carried forward +€9,220
up €9,220 (+12.2%), from €75,795 to €85,015
- Financial charges +€59,212
up €59,212 (+3,235%), from €1,830 to €61,042
of which Non-recurring financial charges: +€57,600
- Gross operating margin +€34,526
up €34,526 (+67.6%), from €51,046 to €85,572
- Turnover +€33,059
up €33,059 (+26.7%), from €124,030 to €157,090
- Other operating charges -€16,424
down €16,424 (-90.8%), from €18,081 to €1,656
- Depreciation -€4,661
down €4,661 (-33.0%), from €14,115 to €9,454
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 | €409,922 | €355,478 | -€54,444 | -13.3% |
| Fixed assets | 21/28 | €375,746 | €331,725 | -€44,020 | -11.7% |
| Tangible fixed assets | 22/27 | €28,276 | €25,188 | -€3,087 | -10.9% |
| Land and buildings | 22 | - | €4,537 | +€4,537 | |
| Furniture and vehicles | 24 | €28,276 | €20,652 | -€7,624 | -27.0% |
| Financial fixed assets | 28 | €347,470 | €306,537 | -€40,933 | -11.8% |
| Current assets | 29/58 | €34,176 | €23,753 | -€10,424 | -30.5% |
| Amounts receivable within one year | 40/41 | €9,853 | €17,684 | +€7,832 | +79.5% |
| Trade receivables | 40 | €9,853 | €17,684 | +€7,832 | +79.5% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €24,241 | €5,199 | -€19,042 | -78.6% |
| Deferred charges and accrued income | 490/1 | €82 | €869 | +€787 | +954% |
| Total equity and liabilities | 10/49 | €409,922 | €355,478 | -€54,444 | -13.3% |
| Equity | 10/15 | €137,822 | €147,042 | +€9,220 | +6.7% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €7,027 | €7,027 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | €0 | = | |
| Reserves not available under the articles | 1311 | €0 | €0 | = | |
| Distributable reserves | 133 | €7,027 | €7,027 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,795 | €85,015 | +€9,220 | +12.2% |
| Amounts payable | 17/49 | €272,100 | €208,436 | -€63,664 | -23.4% |
| Amounts payable after more than one year | 17 | €55,813 | €42,575 | -€13,238 | -23.7% |
| Financial debts | 170/4 | €55,813 | €42,575 | -€13,238 | -23.7% |
| Amounts payable within one year | 42/48 | €215,947 | €165,860 | -€50,087 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €23,328 | €13,238 | -€10,090 | -43.3% |
| Trade debts | 44 | €18,580 | €20,003 | +€1,423 | +7.7% |
| Suppliers | 440/4 | €18,580 | €20,003 | +€1,423 | +7.7% |
| Advances received on contracts in progress | 46 | €70,000 | €34,015 | -€35,985 | -51.4% |
| Taxes, remuneration and social security | 45 | €28,410 | €17,376 | -€11,034 | -38.8% |
| Taxes | 450/3 | €28,410 | €17,376 | -€11,034 | -38.8% |
| Other amounts payable | 47/48 | €75,630 | €81,229 | +€5,599 | +7.4% |
| Accrued charges and deferred income | 492/3 | €339 | €0 | -€339 | -100% |
| Turnover | 70 | €124,030 | €157,090 | +€33,059 | +26.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €74,006 | €77,051 | +€3,045 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,115 | €9,454 | -€4,661 | -33.0% |
| Other operating charges | 640/8 | €18,081 | €1,656 | -€16,424 | -90.8% |
| Non-recurring operating charges | 66A | €0 | €0 | = | |
| Gross operating margin | 9900 | €51,046 | €85,572 | +€34,526 | +67.6% |
| Operating profit (loss) | 9901 | €18,851 | €74,462 | +€55,611 | +295% |
| Financial income | 75/76B | €189 | €9 | -€180 | -95.5% |
| Recurring financial income | 75 | €189 | €9 | -€180 | -95.5% |
| Financial charges | 65/66B | €1,830 | €61,042 | +€59,212 | +3,235% |
| Recurring financial charges | 65 | €1,830 | €3,442 | +€1,612 | +88.0% |
| Non-recurring financial charges | 66B | - | €57,600 | +€57,600 | |
| Profit (loss) for the period before taxes | 9903 | €17,209 | €13,429 | -€3,780 | -22.0% |
| Income taxes | 67/77 | €5,316 | €4,209 | -€1,107 | -20.8% |
| Profit (loss) for the period | 9904 | €11,893 | €9,220 | -€2,673 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,893 | €9,220 | -€2,673 | -22.5% |
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 14 October 2026 via checked.be.