SD EXECUTIVE SERVICES: 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 EXECUTIVE SERVICES
Largest movements
- Receivables within one year +€42,554
up €42,554 (+180.8%), from €23,541 to €66,096
of which Trade receivables: +€61,251
- Tangible fixed assets -€9,253
down €9,253 (-34.2%), from €27,034 to €17,780
of which Furniture and vehicles: -€9,667
- Intangible fixed assets -€4,422
down €4,422 (-34.8%), from €12,692 to €8,269
- Cash +€3,330
new in 2025: €3,330
mainly Trade debts (+€38,819) and Depreciation (+€10,704)
- Deferred charges and accrued income +€2,640
up €2,640 (+485.4%), from €544 to €3,183
- Trade debts +€38,819
up €38,819 (+127.6%), from €30,421 to €69,240
- Profit (loss) carried forward -€17,199
down €17,199 (-13.5%), from -€127,132 to -€144,331
- Tax, wage and social debts +€5,898
up €5,898 (+187.2%), from €3,150 to €9,048
of which Remuneration and social security: +€5,111
- Other debts +€3,687
up €3,687 (+3.6%), from €103,457 to €107,143
- Debts after one year +€2,382
up €2,382 (+10.7%), from €22,363 to €24,745
- Staff costs +€8,346
up €8,346 (+26.3%), from €31,704 to €40,049
- Financial charges +€5,322
up €5,322 (+137.0%), from €3,883 to €9,205
of which Non-recurring financial charges: +€5,887
- Gross operating margin +€3,580
up €3,580 (+8.4%), from €42,698 to €46,278
- Other operating charges +€2,868
up €2,868 (+421.9%), from €680 to €3,548
- Depreciation -€1,492
down €1,492 (-12.2%), from €12,195 to €10,704
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 | €64,694 | €99,542 | +€34,848 | +53.9% |
| Fixed assets | 21/28 | €40,609 | €26,934 | -€13,675 | -33.7% |
| Intangible fixed assets | 21 | €12,692 | €8,269 | -€4,422 | -34.8% |
| Tangible fixed assets | 22/27 | €27,034 | €17,780 | -€9,253 | -34.2% |
| Plant, machinery and equipment | 23 | €2,585 | €2,999 | +€414 | +16.0% |
| Furniture and vehicles | 24 | €24,449 | €14,782 | -€9,667 | -39.5% |
| Financial fixed assets | 28 | €884 | €884 | = | 0.0% |
| Current assets | 29/58 | €24,085 | €72,609 | +€48,524 | +201.5% |
| Amounts receivable within one year | 40/41 | €23,541 | €66,096 | +€42,554 | +180.8% |
| Trade receivables | 40 | €3,501 | €64,752 | +€61,251 | +1749.5% |
| Other amounts receivable | 41 | €20,040 | €1,343 | -€18,697 | -93.3% |
| Cash at bank and in hand | 54/58 | - | €3,330 | +€3,330 | |
| Deferred charges and accrued income | 490/1 | €544 | €3,183 | +€2,640 | +485.4% |
| Total equity and liabilities | 10/49 | €64,694 | €99,542 | +€34,848 | +53.9% |
| Equity | 10/15 | -€107,132 | -€124,331 | -€17,199 | -16.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,132 | -€144,331 | -€17,199 | -13.5% |
| Amounts payable | 17/49 | €171,826 | €223,873 | +€52,047 | +30.3% |
| Amounts payable after more than one year | 17 | €22,363 | €24,745 | +€2,382 | +10.7% |
| Financial debts | 170/4 | €22,363 | €24,745 | +€2,382 | +10.7% |
| Amounts payable within one year | 42/48 | €149,463 | €199,128 | +€49,665 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €12,435 | €13,696 | +€1,261 | +10.1% |
| Trade debts | 44 | €30,421 | €69,240 | +€38,819 | +127.6% |
| Suppliers | 440/4 | €30,421 | €69,240 | +€38,819 | +127.6% |
| Taxes, remuneration and social security | 45 | €3,150 | €9,048 | +€5,898 | +187.2% |
| Taxes | 450/3 | €885 | €1,672 | +€787 | +88.9% |
| Remuneration and social security | 454/9 | €2,265 | €7,376 | +€5,111 | +225.7% |
| Other amounts payable | 47/48 | €103,457 | €107,143 | +€3,687 | +3.6% |
| Non-recurring operating income | 76A | - | €5,227 | +€5,227 | |
| Remuneration, social security and pensions | 62 | €31,704 | €40,049 | +€8,346 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,195 | €10,704 | -€1,492 | -12.2% |
| Other operating charges | 640/8 | €680 | €3,548 | +€2,868 | +421.9% |
| Gross operating margin | 9900 | €42,698 | €46,278 | +€3,580 | +8.4% |
| Operating profit (loss) | 9901 | -€1,881 | -€8,023 | -€6,142 | -326.5% |
| Financial income | 75/76B | €574 | €29 | -€545 | -94.9% |
| Recurring financial income | 75 | €574 | €29 | -€545 | -94.9% |
| Financial charges | 65/66B | €3,883 | €9,205 | +€5,322 | +137.0% |
| Recurring financial charges | 65 | €3,324 | €2,759 | -€565 | -17.0% |
| Non-recurring financial charges | 66B | €559 | €6,446 | +€5,887 | +1052.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,190 | -€17,199 | -€12,008 | -231.4% |
| Profit (loss) for the period | 9904 | -€5,190 | -€17,199 | -€12,008 | -231.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,190 | -€17,199 | -€12,008 | -231.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.