SD DRIVEN: 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 DRIVEN
Largest movements
- Cash +€8,691
up €8,691, from €0 to €8,691
mainly Debts after one year (+€82,558) and Net result for the year (+€25,531)
- Receivables within one year +€6,592
up €6,592 (+134.5%), from €4,901 to €11,493
- Debts after one year +€82,558
up €82,558 (+24.0%), from €343,806 to €426,364
- Reserves -€50,179
down €50,179 (-28.0%), from €179,053 to €128,874
- Other debts -€19,000
down €19,000 (-100.0%), from €19,000 to €0
- Tax, wage and social debts +€10,460
up €10,460 (+60.8%), from €17,208 to €27,668
- Short-term financial debts -€9,903
down €9,903 (-100.0%), from €9,903 to €0
- Gross operating margin +€36,452
up €36,452 (+349.0%), from €10,445 to €46,897
- Taxes +€7,954
up €7,954 (+141.9%), from €5,606 to €13,560
- Financial charges +€2,610
up €2,610 (+640.5%), from €408 to €3,018
- Other operating charges -€1,508
down €1,508 (-63.8%), from €2,366 to €857
- Depreciation +€517
up €517 (+15.1%), from €3,414 to €3,931
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 | €578,799 | €590,152 | +€11,352 | +2.0% |
| Fixed assets | 21/28 | €573,899 | €569,968 | -€3,931 | -0.7% |
| Tangible fixed assets | 22/27 | €7,899 | €3,968 | -€3,931 | -49.8% |
| Plant, machinery and equipment | 23 | €6,792 | €3,968 | -€2,824 | -41.6% |
| Furniture and vehicles | 24 | €1,107 | €0 | -€1,107 | -100.0% |
| Financial fixed assets | 28 | €566,000 | €566,000 | = | 0.0% |
| Current assets | 29/58 | €4,901 | €20,184 | +€15,283 | +311.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €4,901 | €11,493 | +€6,592 | +134.5% |
| Trade receivables | 40 | €4,901 | €11,493 | +€6,592 | +134.5% |
| Cash at bank and in hand | 54/58 | €0 | €8,691 | +€8,691 | |
| Total equity and liabilities | 10/49 | €578,799 | €590,152 | +€11,352 | +2.0% |
| Equity | 10/15 | €185,416 | €135,237 | -€50,179 | -27.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €179,053 | €128,874 | -€50,179 | -28.0% |
| Distributable reserves | 133 | €179,053 | €128,874 | -€50,179 | -28.0% |
| Profit (loss) carried forward | 14 | €163 | €163 | = | 0.0% |
| Amounts payable | 17/49 | €393,384 | €454,915 | +€61,531 | +15.6% |
| Amounts payable after more than one year | 17 | €343,806 | €426,364 | +€82,558 | +24.0% |
| Other amounts payable | 178/9 | €343,806 | €426,364 | +€82,558 | +24.0% |
| Amounts payable within one year | 42/48 | €49,578 | €28,551 | -€21,027 | -42.4% |
| Financial debts | 43 | €9,903 | €0 | -€9,903 | -100.0% |
| Credit institutions | 430/8 | €9,903 | €0 | -€9,903 | -100.0% |
| Trade debts | 44 | €3,466 | €883 | -€2,584 | -74.5% |
| Suppliers | 440/4 | €3,466 | €883 | -€2,584 | -74.5% |
| Taxes, remuneration and social security | 45 | €17,208 | €27,668 | +€10,460 | +60.8% |
| Taxes | 450/3 | €17,208 | €27,668 | +€10,460 | +60.8% |
| Other amounts payable | 47/48 | €19,000 | €0 | -€19,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,414 | €3,931 | +€517 | +15.1% |
| Other operating charges | 640/8 | €2,366 | €857 | -€1,508 | -63.8% |
| Gross operating margin | 9900 | €10,445 | €46,897 | +€36,452 | +349.0% |
| Operating profit (loss) | 9901 | €4,665 | €42,109 | +€37,444 | +802.6% |
| Financial income | 75/76B | €96 | €0 | -€96 | -100.0% |
| Recurring financial income | 75 | €96 | €0 | -€96 | -100.0% |
| Financial charges | 65/66B | €408 | €3,018 | +€2,610 | +640.5% |
| Recurring financial charges | 65 | €408 | €3,018 | +€2,610 | +640.5% |
| Profit (loss) for the period before taxes | 9903 | €4,354 | €39,091 | +€34,737 | +797.9% |
| Income taxes | 67/77 | €5,606 | €13,560 | +€7,954 | +141.9% |
| Profit (loss) for the period | 9904 | -€1,253 | €25,531 | +€26,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,253 | €25,531 | +€26,783 |
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 11 October 2026 via checked.be.