SD ASSURCREDITS: what changed
SD ASSURCREDITS
Largest movements
- Receivables within one year +€203,192
up €203,192 (+1,880%), from €10,807 to €213,999
- Cash -€77,081
down €77,081 (-97.0%), from €79,460 to €2,379
mainly Receivables within one year (-€203,192) and Investment in fixed assets (net) (-€82,917)
- Tangible fixed assets +€61,300
up €61,300 (+20.1%), from €305,226 to €366,526
of which Furniture and vehicles: +€74,314
- Reserves +€154,061
up €154,061 (+286%), from €53,936 to €207,997
- Tax, wage and social debts +€27,291
up €27,291 (+66.9%), from €40,794 to €68,085
of which Taxes: +€29,077
- Current portion of long-term debt +€17,721
up €17,721 (+29.1%), from €60,813 to €78,534
- Debts after one year -€14,635
down €14,635 (-5.8%), from €251,431 to €236,796
- Gross operating margin +€160,432
up €160,432 (+125%), from €128,413 to €288,845
- Taxes +€45,578
up €45,578 (+269%), from €16,931 to €62,509
- Financial income +€6,010
up €6,010 (+1,178,345%), from €1 to €6,010
- Depreciation +€5,404
up €5,404 (+33.3%), from €16,214 to €21,617
- Staff costs -€3,561
down €3,561 (-7.4%), from €48,368 to €44,807
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €425,723 | €612,530 | +€186,807 | +43.9% |
| Fixed assets | 21/28 | €305,301 | €366,601 | +€61,300 | +20.1% |
| Tangible fixed assets | 22/27 | €305,226 | €366,526 | +€61,300 | +20.1% |
| Land and buildings | 22 | €264,429 | €256,406 | -€8,023 | -3.0% |
| Furniture and vehicles | 24 | €9,982 | €84,295 | +€74,314 | +744% |
| Other tangible fixed assets | 26 | €30,815 | €25,824 | -€4,991 | -16.2% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €120,422 | €245,929 | +€125,507 | +104% |
| Amounts receivable within one year | 40/41 | €10,807 | €213,999 | +€203,192 | +1,880% |
| Other amounts receivable | 41 | €10,807 | €213,999 | +€203,192 | +1,880% |
| Cash at bank and in hand | 54/58 | €79,460 | €2,379 | -€77,081 | -97.0% |
| Deferred charges and accrued income | 490/1 | €30,155 | €29,551 | -€604 | -2.0% |
| Total equity and liabilities | 10/49 | €425,723 | €612,530 | +€186,807 | +43.9% |
| Equity | 10/15 | €68,196 | €222,257 | +€154,061 | +226% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €53,936 | €207,997 | +€154,061 | +286% |
| Distributable reserves | 133 | €53,936 | €207,997 | +€154,061 | +286% |
| Amounts payable | 17/49 | €357,527 | €390,273 | +€32,746 | +9.2% |
| Amounts payable after more than one year | 17 | €251,431 | €236,796 | -€14,635 | -5.8% |
| Financial debts | 170/4 | €251,431 | €236,796 | -€14,635 | -5.8% |
| Amounts payable within one year | 42/48 | €104,002 | €149,991 | +€45,989 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €60,813 | €78,534 | +€17,721 | +29.1% |
| Financial debts | 43 | €141 | €1,605 | +€1,464 | +1,036% |
| Credit institutions | 430/8 | €141 | €1,605 | +€1,464 | +1,036% |
| Trade debts | 44 | €2,254 | €1,767 | -€487 | -21.6% |
| Suppliers | 440/4 | €2,254 | €1,767 | -€487 | -21.6% |
| Taxes, remuneration and social security | 45 | €40,794 | €68,085 | +€27,291 | +66.9% |
| Taxes | 450/3 | €33,432 | €62,509 | +€29,077 | +87.0% |
| Remuneration and social security | 454/9 | €7,363 | €5,576 | -€1,786 | -24.3% |
| Accrued charges and deferred income | 492/3 | €2,094 | €3,486 | +€1,392 | +66.5% |
| Remuneration, social security and pensions | 62 | €48,368 | €44,807 | -€3,561 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,214 | €21,617 | +€5,404 | +33.3% |
| Other operating charges | 640/8 | €2,545 | €2,923 | +€378 | +14.8% |
| Non-recurring operating charges | 66A | €10,095 | €102 | -€9,993 | -99.0% |
| Gross operating margin | 9900 | €128,413 | €288,845 | +€160,432 | +125% |
| Operating profit (loss) | 9901 | €51,191 | €219,396 | +€168,205 | +329% |
| Financial income | 75/76B | €1 | €6,010 | +€6,010 | +1,178,345% |
| Recurring financial income | 75 | €1 | €6,010 | +€6,010 | +1,178,345% |
| Financial charges | 65/66B | €10,152 | €8,837 | -€1,315 | -13.0% |
| Recurring financial charges | 65 | €9,918 | €8,657 | -€1,261 | -12.7% |
| Non-recurring financial charges | 66B | €234 | €179 | -€55 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €41,040 | €216,569 | +€175,530 | +428% |
| Income taxes | 67/77 | €16,931 | €62,509 | +€45,578 | +269% |
| Profit (loss) for the period | 9904 | €24,109 | €154,061 | +€129,952 | +539% |
| Profit (loss) for the period to be appropriated | 9905 | €24,109 | €154,061 | +€129,952 | +539% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.