SD ANGIO: 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.
SD ANGIO
Largest movements
- Cash -€228,122
down €228,122 (-73.7%), from €309,344 to €81,222
mainly Contributions, distributions and other (-€470,588) and Current portion of long-term debt (-€17,145)
- Tangible fixed assets -€7,601
down €7,601 (-36.7%), from €20,689 to €13,087
- Profit (loss) carried forward -€209,096
down €209,096 (-33.1%), from €631,266 to €422,169
- Current portion of long-term debt -€17,145
no longer reported in 2025 (was €17,145)
- Gross operating margin -€53,620
down €53,620 (-13.3%), from €404,572 to €350,952
- Depreciation -€17,906
down €17,906 (-66.0%), from €27,135 to €9,229
- Taxes -€8,460
down €8,460 (-9.3%), from €91,225 to €82,765
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 | €688,746 | €463,133 | -€225,612 | -32.8% |
| Fixed assets | 21/28 | €20,689 | €13,087 | -€7,601 | -36.7% |
| Tangible fixed assets | 22/27 | €20,689 | €13,087 | -€7,601 | -36.7% |
| Plant, machinery and equipment | 23 | €12,360 | €8,594 | -€3,766 | -30.5% |
| Furniture and vehicles | 24 | €5,419 | €4,493 | -€926 | -17.1% |
| Leasing and similar rights | 25 | €2,910 | - | -€2,910 | |
| Current assets | 29/58 | €668,057 | €450,046 | -€218,011 | -32.6% |
| Amounts receivable within one year | 40/41 | €3,724 | €10,239 | +€6,515 | +175% |
| Trade receivables | 40 | €3,163 | €996 | -€2,167 | -68.5% |
| Other amounts receivable | 41 | €561 | €9,243 | +€8,682 | +1,548% |
| Current investments | 50/53 | €300,000 | €301,473 | +€1,473 | +0.5% |
| Cash at bank and in hand | 54/58 | €309,344 | €81,222 | -€228,122 | -73.7% |
| Deferred charges and accrued income | 490/1 | €54,989 | €57,113 | +€2,124 | +3.9% |
| Total equity and liabilities | 10/49 | €688,746 | €463,133 | -€225,612 | -32.8% |
| Equity | 10/15 | €651,671 | €442,574 | -€209,096 | -32.1% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €631,266 | €422,169 | -€209,096 | -33.1% |
| Amounts payable | 17/49 | €37,075 | €20,559 | -€16,516 | -44.5% |
| Amounts payable within one year | 42/48 | €30,739 | €20,559 | -€10,180 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €17,145 | - | -€17,145 | |
| Trade debts | 44 | €2,999 | €7,280 | +€4,282 | +143% |
| Suppliers | 440/4 | €2,999 | €7,280 | +€4,282 | +143% |
| Taxes, remuneration and social security | 45 | €6,000 | €6,000 | = | 0.0% |
| Taxes | 450/3 | €6,000 | €6,000 | = | 0.0% |
| Other amounts payable | 47/48 | €4,596 | €7,279 | +€2,683 | +58.4% |
| Accrued charges and deferred income | 492/3 | €6,336 | - | -€6,336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,135 | €9,229 | -€17,906 | -66.0% |
| Other operating charges | 640/8 | €682 | €696 | +€14 | +2.0% |
| Non-recurring operating charges | 66A | €1,823 | €458 | -€1,365 | -74.9% |
| Gross operating margin | 9900 | €404,572 | €350,952 | -€53,620 | -13.3% |
| Operating profit (loss) | 9901 | €374,931 | €340,569 | -€34,362 | -9.2% |
| Financial income | 75/76B | €5,821 | €4,824 | -€997 | -17.1% |
| Recurring financial income | 75 | €5,821 | €4,824 | -€997 | -17.1% |
| Financial charges | 65/66B | €1,308 | €1,136 | -€172 | -13.1% |
| Recurring financial charges | 65 | €1,308 | €1,136 | -€172 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €379,445 | €344,257 | -€35,188 | -9.3% |
| Income taxes | 67/77 | €91,225 | €82,765 | -€8,460 | -9.3% |
| Profit (loss) for the period | 9904 | €288,219 | €261,492 | -€26,728 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €288,219 | €261,492 | -€26,728 | -9.3% |
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 16 October 2026 via checked.be.