SBD Analytics: what changed
Two fiscal 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.
SBD Analytics
Largest movements
- Cash +€366,848
up €366,848 (+385.8%), from €95,083 to €461,932
mainly Investment in fixed assets (net) (+€338,555) and Net result for the year (+€151,661)
- Tangible fixed assets -€364,487
down €364,487 (-87.4%), from €417,262 to €52,774
of which Land and buildings: -€341,706
- Receivables within one year -€19,777
down €19,777 (-26.1%), from €75,793 to €56,016
of which Other amounts receivable: -€17,173
- Debts after one year -€63,763
down €63,763 (-78.2%), from €81,559 to €17,796
- Other debts +€59,420
up €59,420 (+58.8%), from €101,000 to €160,420
- Reserves -€18,339
down €18,339 (-5.0%), from €367,667 to €349,328
of which Distributable reserves: -€18,339
- Gross operating margin +€125,009
up €125,009 (+92.0%), from €135,873 to €260,882
- Taxes +€47,277
up €47,277 (+212.0%), from €22,303 to €69,579
- Depreciation -€27,332
down €27,332 (-51.3%), from €53,264 to €25,932
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.
Cash bridge derived
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 | €603,434 | €579,059 | -€24,375 | -4.0% |
| Fixed assets | 21/28 | €417,262 | €52,774 | -€364,487 | -87.4% |
| Tangible fixed assets | 22/27 | €417,262 | €52,774 | -€364,487 | -87.4% |
| Land and buildings | 22 | €341,706 | €0 | -€341,706 | -100.0% |
| Plant, machinery and equipment | 23 | €17,709 | €12,320 | -€5,388 | -30.4% |
| Furniture and vehicles | 24 | €57,847 | €40,454 | -€17,393 | -30.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €186,172 | €526,285 | +€340,113 | +182.7% |
| Stocks and contracts in progress | 3 | €1,923 | €0 | -€1,923 | -100.0% |
| Stocks | 30/36 | €1,923 | €0 | -€1,923 | -100.0% |
| Amounts receivable within one year | 40/41 | €75,793 | €56,016 | -€19,777 | -26.1% |
| Trade receivables | 40 | €39,123 | €36,519 | -€2,604 | -6.7% |
| Other amounts receivable | 41 | €36,670 | €19,497 | -€17,173 | -46.8% |
| Cash at bank and in hand | 54/58 | €95,083 | €461,932 | +€366,848 | +385.8% |
| Deferred charges and accrued income | 490/1 | €13,373 | €8,337 | -€5,036 | -37.7% |
| Total equity and liabilities | 10/49 | €603,434 | €579,059 | -€24,375 | -4.0% |
| Equity | 10/15 | €386,267 | €367,928 | -€18,339 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €367,667 | €349,328 | -€18,339 | -5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €360 | €360 | = | 0.0% |
| Distributable reserves | 133 | €367,307 | €348,968 | -€18,339 | -5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,168 | €211,131 | -€6,036 | -2.8% |
| Amounts payable after more than one year | 17 | €81,559 | €17,796 | -€63,763 | -78.2% |
| Financial debts | 170/4 | €81,559 | €17,796 | -€63,763 | -78.2% |
| Amounts payable within one year | 42/48 | €135,609 | €193,336 | +€57,727 | +42.6% |
| Current portion of amounts payable after more than one year | 42 | €12,522 | €7,441 | -€5,081 | -40.6% |
| Trade debts | 44 | €598 | €4,013 | +€3,415 | +571.0% |
| Suppliers | 440/4 | €598 | €4,013 | +€3,415 | +571.0% |
| Taxes, remuneration and social security | 45 | €21,489 | €21,462 | -€27 | -0.1% |
| Taxes | 450/3 | €21,489 | €21,462 | -€27 | -0.1% |
| Other amounts payable | 47/48 | €101,000 | €160,420 | +€59,420 | +58.8% |
| Non-recurring operating income | 76A | - | €221,269 | +€221,269 | |
| Remuneration, social security and pensions | 62 | - | €309 | +€309 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,264 | €25,932 | -€27,332 | -51.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,923 | +€1,923 | |
| Other operating charges | 640/8 | €6,237 | €6,964 | +€726 | +11.6% |
| Gross operating margin | 9900 | €135,873 | €260,882 | +€125,009 | +92.0% |
| Operating profit (loss) | 9901 | €76,371 | €225,753 | +€149,382 | +195.6% |
| Financial income | 75/76B | €104 | €0 | -€104 | -100.0% |
| Recurring financial income | 75 | €104 | €0 | -€104 | -100.0% |
| Financial charges | 65/66B | €4,881 | €4,513 | -€369 | -7.6% |
| Recurring financial charges | 65 | €4,881 | €4,513 | -€369 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €71,594 | €221,240 | +€149,646 | +209.0% |
| Income taxes | 67/77 | €22,303 | €69,579 | +€47,277 | +212.0% |
| Profit (loss) for the period | 9904 | €49,292 | €151,661 | +€102,370 | +207.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,292 | €151,661 | +€102,370 | +207.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.