SD Commerce: 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 Commerce
Largest movements
- Cash +€9,672
up €9,672 (+187.2%), from €5,168 to €14,840
mainly Other debts (+€13,119) and Receivables within one year (+€2,068)
- Receivables within one year -€2,068
down €2,068 (-57.9%), from €3,573 to €1,505
of which Trade receivables: -€1,681
- Tangible fixed assets +€1,003
new in 2025: €1,003
- Intangible fixed assets -€400
down €400 (-60.9%), from €657 to €257
- Other debts +€13,119
up €13,119 (+836.8%), from €1,568 to €14,687
- Profit (loss) carried forward -€3,915
new in 2025: -€3,915
- Reserves -€3,291
no longer reported in 2025 (was €3,291)
- Trade debts +€1,554
up €1,554 (+169.5%), from €917 to €2,470
- Tax, wage and social debts +€768
up €768 (+47.3%), from €1,623 to €2,391
- Gross operating margin +€7,872
up €7,872 (+58.9%), from -€13,370 to -€5,498
- Other operating charges +€649
up €649 (+253.3%), from €256 to €905
- Depreciation +€237
up €237 (+59.1%), from €400 to €637
- Financial charges -€149
down €149 (-47.2%), from €316 to €167
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 | €9,398 | €17,633 | +€8,235 | +87.6% |
| Fixed assets | 21/28 | €657 | €1,260 | +€603 | +91.7% |
| Intangible fixed assets | 21 | €657 | €257 | -€400 | -60.9% |
| Tangible fixed assets | 22/27 | - | €1,003 | +€1,003 | |
| Furniture and vehicles | 24 | - | €1,003 | +€1,003 | |
| Current assets | 29/58 | €8,741 | €16,374 | +€7,632 | +87.3% |
| Amounts receivable within one year | 40/41 | €3,573 | €1,505 | -€2,068 | -57.9% |
| Trade receivables | 40 | €2,081 | €400 | -€1,681 | -80.8% |
| Other amounts receivable | 41 | €1,493 | €1,105 | -€387 | -26.0% |
| Cash at bank and in hand | 54/58 | €5,168 | €14,840 | +€9,672 | +187.2% |
| Deferred charges and accrued income | 490/1 | - | €29 | +€29 | |
| Total equity and liabilities | 10/49 | €9,398 | €17,633 | +€8,235 | +87.6% |
| Equity | 10/15 | €5,291 | -€1,915 | -€7,206 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,291 | - | -€3,291 | |
| Distributable reserves | 133 | €3,291 | - | -€3,291 | |
| Profit (loss) carried forward | 14 | - | -€3,915 | -€3,915 | |
| Amounts payable | 17/49 | €4,107 | €19,548 | +€15,441 | +376.0% |
| Amounts payable within one year | 42/48 | €4,107 | €19,548 | +€15,441 | +376.0% |
| Trade debts | 44 | €917 | €2,470 | +€1,554 | +169.5% |
| Suppliers | 440/4 | €917 | €2,470 | +€1,554 | +169.5% |
| Taxes, remuneration and social security | 45 | €1,623 | €2,391 | +€768 | +47.3% |
| Taxes | 450/3 | €1,623 | €2,391 | +€768 | +47.3% |
| Other amounts payable | 47/48 | €1,568 | €14,687 | +€13,119 | +836.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €637 | +€237 | +59.1% |
| Other operating charges | 640/8 | €256 | €905 | +€649 | +253.3% |
| Gross operating margin | 9900 | -€13,370 | -€5,498 | +€7,872 | +58.9% |
| Operating profit (loss) | 9901 | -€14,026 | -€7,039 | +€6,987 | +49.8% |
| Financial charges | 65/66B | €316 | €167 | -€149 | -47.2% |
| Recurring financial charges | 65 | €316 | €167 | -€149 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,342 | -€7,206 | +€7,136 | +49.8% |
| Profit (loss) for the period | 9904 | -€14,342 | -€7,206 | +€7,136 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,342 | -€7,206 | +€7,136 | +49.8% |
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 9 October 2026 via checked.be.