SD INSURANCE: 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 INSURANCE
Largest movements
- Intangible fixed assets -€93,097
down €93,097 (-19.5%), from €476,389 to €383,293
- Cash -€69,355
down €69,355 (-22.9%), from €302,465 to €233,109
mainly Contributions, distributions and other (-€165,000) and Investment in fixed assets (net) (-€73,470)
- Tangible fixed assets +€55,292
up €55,292 (+108%), from €51,095 to €106,387
of which Furniture and vehicles: +€58,586
- Receivables within one year +€51,316
up €51,316 (+496%), from €10,356 to €61,672
of which Trade receivables: +€52,491
- Debts after one year -€67,693
down €67,693 (-21.9%), from €308,782 to €241,089
- Other debts +€15,000
up €15,000 (+10.0%), from €150,000 to €165,000
- Trade debts -€12,695
down €12,695 (-49.4%), from €25,708 to €13,013
- Reserves +€12,232
up €12,232 (+5.3%), from €232,145 to €244,376
- Staff costs -€29,255
down €29,255 (-7.0%), from €419,884 to €390,630
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 | €841,208 | €785,384 | -€55,824 | -6.6% |
| Fixed assets | 21/28 | €527,484 | €489,680 | -€37,804 | -7.2% |
| Intangible fixed assets | 21 | €476,389 | €383,293 | -€93,097 | -19.5% |
| Tangible fixed assets | 22/27 | €51,095 | €106,387 | +€55,292 | +108% |
| Plant, machinery and equipment | 23 | €13,777 | €10,484 | -€3,294 | -23.9% |
| Furniture and vehicles | 24 | €37,317 | €95,903 | +€58,586 | +157% |
| Current assets | 29/58 | €313,724 | €295,704 | -€18,020 | -5.7% |
| Amounts receivable within one year | 40/41 | €10,356 | €61,672 | +€51,316 | +496% |
| Trade receivables | 40 | - | €52,491 | +€52,491 | |
| Other amounts receivable | 41 | €10,356 | €9,181 | -€1,175 | -11.3% |
| Cash at bank and in hand | 54/58 | €302,465 | €233,109 | -€69,355 | -22.9% |
| Deferred charges and accrued income | 490/1 | €903 | €923 | +€20 | +2.2% |
| Total equity and liabilities | 10/49 | €841,208 | €785,384 | -€55,824 | -6.6% |
| Equity | 10/15 | €242,145 | €254,376 | +€12,232 | +5.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €232,145 | €244,376 | +€12,232 | +5.3% |
| Distributable reserves | 133 | €232,145 | €244,376 | +€12,232 | +5.3% |
| Amounts payable | 17/49 | €599,063 | €531,007 | -€68,056 | -11.4% |
| Amounts payable after more than one year | 17 | €308,782 | €241,089 | -€67,693 | -21.9% |
| Financial debts | 170/4 | €308,782 | €241,089 | -€67,693 | -21.9% |
| Amounts payable within one year | 42/48 | €290,281 | €289,918 | -€363 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €72,667 | €70,940 | -€1,727 | -2.4% |
| Trade debts | 44 | €25,708 | €13,013 | -€12,695 | -49.4% |
| Suppliers | 440/4 | €25,708 | €13,013 | -€12,695 | -49.4% |
| Taxes, remuneration and social security | 45 | €41,906 | €40,965 | -€941 | -2.2% |
| Remuneration and social security | 454/9 | €41,906 | €40,965 | -€941 | -2.2% |
| Other amounts payable | 47/48 | €150,000 | €165,000 | +€15,000 | +10.0% |
| Remuneration, social security and pensions | 62 | €419,884 | €390,630 | -€29,255 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,658 | €111,274 | +€3,617 | +3.4% |
| Other operating charges | 640/8 | €1,512 | €1,752 | +€240 | +15.9% |
| Gross operating margin | 9900 | €704,338 | €699,803 | -€4,535 | -0.6% |
| Operating profit (loss) | 9901 | €175,284 | €196,148 | +€20,864 | +11.9% |
| Financial income | 75/76B | €5,033 | €3,016 | -€2,016 | -40.1% |
| Recurring financial income | 75 | €5,033 | €3,016 | -€2,016 | -40.1% |
| Financial charges | 65/66B | €4,650 | €10,361 | +€5,712 | +123% |
| Recurring financial charges | 65 | €4,650 | €10,361 | +€5,712 | +123% |
| Profit (loss) for the period before taxes | 9903 | €175,667 | €188,803 | +€13,136 | +7.5% |
| Income taxes | 67/77 | €11,287 | €11,571 | +€284 | +2.5% |
| Profit (loss) for the period | 9904 | €164,380 | €177,232 | +€12,851 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €164,380 | €177,232 | +€12,851 | +7.8% |
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 17 October 2026 via checked.be.