SBDW: 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.
What changed
SBDW
NACE 47.610, Retail trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€15,531
2024 · -€41,541+€26,010
Equity
€359,407
2024 · €374,938-€15,531
Cash
€336,091
2024 · €502,853-€166,762
Balance sheet total
€5.2m
2024 · €5.0m+€174,358
Largest movements
Assets
- Tangible fixed assets +€324,611
up €324,611 (+37.9%), from €855,425 to €1.2m
of which Land and buildings: +€235,208
- Cash -€166,762
down €166,762 (-33.2%), from €502,853 to €336,091
mainly Investment in fixed assets (net) (-€606,677) and Short-term financial debts (-€83,976)
- Stocks and contracts +€70,845
up €70,845 (+2.9%), from €2.5m to €2.6m
- Receivables within one year -€69,497
down €69,497 (-10.7%), from €646,675 to €577,178
of which Trade receivables: -€76,264
Equity and liabilities
- Debts after one year +€93,478
up €93,478 (+12.4%), from €751,261 to €844,739
- Short-term financial debts -€83,976
down €83,976 (-28.0%), from €300,000 to €216,024
- Trade debts +€81,193
up €81,193 (+2.6%), from €3.1m to €3.2m
- Accrued charges and deferred income +€76,608
up €76,608 (+322.9%), from €23,728 to €100,336
Income statement
- Turnover -€11.5m
no longer reported in 2025 (was €11.5m)
- Purchases and services -€9.5m
no longer reported in 2025 (was €9.5m)
- Gross operating margin +€178,628
up €178,628 (+8.6%), from €2.1m to €2.3m
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.
Result 2024
-€41,541
Gross operating margin
+€178,628
Staff costs
-€26,273
Depreciation
-€43,738
Provisions
-€24,582
Other operating charges
-€5,902
Other operating items
-€160
Financial income
-€21,297
Financial charges
-€30,222
Taxes
-€444
Result 2025
-€15,531
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.
From operations
+€424,384
Investment
-€606,677
Financing
+€15,531
Cash 2024
€502,853
From operations (derived)
+€424,384
Net result for the year
-€15,531
Depreciation
+€296,386
Stocks and contracts
-€70,845
Receivables within one year
+€69,497
Deferred charges and accrued income
-€29,481
Trade debts
+€81,193
Tax, wage and social debts
+€16,557
Accrued charges and deferred income
+€76,608
Investment (derived)
-€606,677
Investment in fixed assets (net)
-€606,677
Financing
+€15,531
Debts after one year
+€93,478
Current portion of long-term debt
+€6,029
Short-term financial debts
-€83,976
Cash 2025
€336,091
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,999,877 | €5,174,235 | +€174,358 | +3.5% |
| Fixed assets | 21/28 | €1,299,683 | €1,609,974 | +€310,291 | +23.9% |
| Intangible fixed assets | 21 | €349,647 | €335,327 | -€14,320 | -4.1% |
| Tangible fixed assets | 22/27 | €855,425 | €1,180,036 | +€324,611 | +37.9% |
| Land and buildings | 22 | - | €235,208 | +€235,208 | |
| Plant, machinery and equipment | 23 | - | €13,947 | +€13,947 | |
| Furniture and vehicles | 24 | €40,406 | €124,887 | +€84,481 | +209.1% |
| Other tangible fixed assets | 26 | €811,019 | €801,994 | -€9,025 | -1.1% |
| Assets under construction and advance payments | 27 | €4,000 | €4,000 | = | 0.0% |
| Financial fixed assets | 28 | €94,611 | €94,611 | = | 0.0% |
| Current assets | 29/58 | €3,700,194 | €3,564,261 | -€135,933 | -3.7% |
| Stocks and contracts in progress | 3 | €2,482,053 | €2,552,898 | +€70,845 | +2.9% |
| Stocks | 30/36 | €2,482,053 | €2,552,898 | +€70,845 | +2.9% |
| Amounts receivable within one year | 40/41 | €646,675 | €577,178 | -€69,497 | -10.7% |
| Trade receivables | 40 | €460,830 | €384,566 | -€76,264 | -16.5% |
| Other amounts receivable | 41 | €185,845 | €192,612 | +€6,767 | +3.6% |
| Cash at bank and in hand | 54/58 | €502,853 | €336,091 | -€166,762 | -33.2% |
| Deferred charges and accrued income | 490/1 | €68,613 | €98,094 | +€29,481 | +43.0% |
| Total equity and liabilities | 10/49 | €4,999,877 | €5,174,235 | +€174,358 | +3.5% |
| Equity | 10/15 | €374,938 | €359,407 | -€15,531 | -4.1% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €14,772 | €14,772 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | - | -€6,250 | |
| Reserves not available under the articles | 1311 | - | €6,250 | +€6,250 | |
| Distributable reserves | 133 | €8,522 | €8,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | €297,666 | €282,135 | -€15,531 | -5.2% |
| Amounts payable | 17/49 | €4,624,939 | €4,814,828 | +€189,889 | +4.1% |
| Amounts payable after more than one year | 17 | €751,261 | €844,739 | +€93,478 | +12.4% |
| Financial debts | 170/4 | €751,261 | €844,739 | +€93,478 | +12.4% |
| Amounts payable within one year | 42/48 | €3,849,950 | €3,869,753 | +€19,803 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €151,570 | €157,599 | +€6,029 | +4.0% |
| Financial debts | 43 | €300,000 | €216,024 | -€83,976 | -28.0% |
| Credit institutions | 430/8 | €300,000 | €216,024 | -€83,976 | -28.0% |
| Trade debts | 44 | €3,145,987 | €3,227,180 | +€81,193 | +2.6% |
| Suppliers | 440/4 | €3,145,987 | €3,227,180 | +€81,193 | +2.6% |
| Taxes, remuneration and social security | 45 | €241,893 | €258,450 | +€16,557 | +6.8% |
| Taxes | 450/3 | €20,670 | €55,508 | +€34,838 | +168.5% |
| Remuneration and social security | 454/9 | €221,223 | €202,942 | -€18,281 | -8.3% |
| Other amounts payable | 47/48 | €10,500 | €10,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €23,728 | €100,336 | +€76,608 | +322.9% |
| Turnover | 70 | €11,517,696 | - | -€11.5m | |
| Non-recurring operating income | 76A | - | €81,580 | +€81,580 | |
| Goods, raw materials, services and sundry goods | 60/61 | €9,469,145 | - | -€9.5m | |
| Remuneration, social security and pensions | 62 | €1,834,692 | €1,860,965 | +€26,273 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €252,648 | €296,386 | +€43,738 | +17.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€24,582 | - | +€24,582 | |
| Other operating charges | 640/8 | €5,300 | €11,202 | +€5,902 | +111.4% |
| Non-recurring operating charges | 66A | - | €160 | +€160 | |
| Gross operating margin | 9900 | €2,083,563 | €2,262,191 | +€178,628 | +8.6% |
| Operating profit (loss) | 9901 | €15,505 | €93,478 | +€77,973 | +502.9% |
| Financial income | 75/76B | €22,867 | €1,570 | -€21,297 | -93.1% |
| Recurring financial income | 75 | €5,741 | €1,570 | -€4,171 | -72.7% |
| Non-recurring financial income | 76B | €17,126 | - | -€17,126 | |
| Financial charges | 65/66B | €79,886 | €110,108 | +€30,222 | +37.8% |
| Recurring financial charges | 65 | €79,886 | €110,108 | +€30,222 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | -€41,514 | -€15,060 | +€26,454 | +63.7% |
| Income taxes | 67/77 | €27 | €471 | +€444 | +1644.4% |
| Profit (loss) for the period | 9904 | -€41,541 | -€15,531 | +€26,010 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,541 | -€15,531 | +€26,010 | +62.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.