SD MANAGEMENT CONSULTANCY: 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 MANAGEMENT CONSULTANCY
Largest movements
- Receivables after one year +€85,000
up €85,000 (+283%), from €30,000 to €115,000
- Receivables within one year -€48,312
down €48,312 (-75.9%), from €63,619 to €15,307
of which Other amounts receivable: -€57,186
- Cash -€11,958
down €11,958 (-63.9%), from €18,701 to €6,743
mainly Receivables after one year (-€85,000) and Debts after one year (-€7,165)
- Tangible fixed assets -€6,801
down €6,801 (-17.1%), from €39,783 to €32,982
- Reserves +€16,093
up €16,093 (+21.5%), from €74,886 to €90,979
- Current portion of long-term debt +€7,803
up €7,803 (+102%), from €7,649 to €15,452
- Debts after one year -€7,165
down €7,165 (-27.7%), from €25,822 to €18,657
- Tax, wage and social debts +€2,815
up €2,815 (+9.5%), from €29,577 to €32,393
of which Taxes: +€4,342
- Other debts +€2,658
new in 2025: €2,658
- Gross operating margin +€16,501
up €16,501 (+70.2%), from €23,522 to €40,023
- Financial charges +€2,741
up €2,741 (+61.6%), from €4,448 to €7,189
- Taxes +€2,041
up €2,041 (+31.0%), from €6,572 to €8,613
- Financial income -€1,706
down €1,706 (-46.3%), from €3,688 to €1,982
- Depreciation +€990
up €990 (+14.0%), from €7,078 to €8,068
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 | €155,706 | €175,380 | +€19,674 | +12.6% |
| Fixed assets | 21/28 | €39,783 | €32,982 | -€6,801 | -17.1% |
| Tangible fixed assets | 22/27 | €39,783 | €32,982 | -€6,801 | -17.1% |
| Furniture and vehicles | 24 | €39,783 | €32,982 | -€6,801 | -17.1% |
| Current assets | 29/58 | €115,923 | €142,398 | +€26,475 | +22.8% |
| Amounts receivable after more than one year | 29 | €30,000 | €115,000 | +€85,000 | +283% |
| Other amounts receivable | 291 | €30,000 | €115,000 | +€85,000 | +283% |
| Amounts receivable within one year | 40/41 | €63,619 | €15,307 | -€48,312 | -75.9% |
| Trade receivables | 40 | €4,436 | €13,310 | +€8,874 | +200% |
| Other amounts receivable | 41 | €59,183 | €1,997 | -€57,186 | -96.6% |
| Cash at bank and in hand | 54/58 | €18,701 | €6,743 | -€11,958 | -63.9% |
| Deferred charges and accrued income | 490/1 | €3,604 | €5,348 | +€1,744 | +48.4% |
| Total equity and liabilities | 10/49 | €155,706 | €175,380 | +€19,674 | +12.6% |
| Equity | 10/15 | €86,086 | €102,179 | +€16,093 | +18.7% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €74,886 | €90,979 | +€16,093 | +21.5% |
| Distributable reserves | 133 | €74,886 | €90,979 | +€16,093 | +21.5% |
| Amounts payable | 17/49 | €69,620 | €73,202 | +€3,581 | +5.1% |
| Amounts payable after more than one year | 17 | €25,822 | €18,657 | -€7,165 | -27.7% |
| Financial debts | 170/4 | €25,822 | €18,657 | -€7,165 | -27.7% |
| Amounts payable within one year | 42/48 | €43,798 | €54,545 | +€10,746 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €7,649 | €15,452 | +€7,803 | +102% |
| Trade debts | 44 | €6,572 | €4,042 | -€2,530 | -38.5% |
| Suppliers | 440/4 | €6,572 | €4,042 | -€2,530 | -38.5% |
| Taxes, remuneration and social security | 45 | €29,577 | €32,393 | +€2,815 | +9.5% |
| Taxes | 450/3 | €28,051 | €32,393 | +€4,342 | +15.5% |
| Remuneration and social security | 454/9 | €1,526 | €0 | -€1,526 | -100% |
| Other amounts payable | 47/48 | - | €2,658 | +€2,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,078 | €8,068 | +€990 | +14.0% |
| Other operating charges | 640/8 | €1,436 | €2,042 | +€606 | +42.2% |
| Gross operating margin | 9900 | €23,522 | €40,023 | +€16,501 | +70.2% |
| Operating profit (loss) | 9901 | €15,008 | €29,913 | +€14,905 | +99.3% |
| Financial income | 75/76B | €3,688 | €1,982 | -€1,706 | -46.3% |
| Recurring financial income | 75 | €3,688 | €1,982 | -€1,706 | -46.3% |
| Financial charges | 65/66B | €4,448 | €7,189 | +€2,741 | +61.6% |
| Recurring financial charges | 65 | €4,448 | €7,189 | +€2,741 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €14,248 | €24,706 | +€10,458 | +73.4% |
| Income taxes | 67/77 | €6,572 | €8,613 | +€2,041 | +31.0% |
| Profit (loss) for the period | 9904 | €7,675 | €16,093 | +€8,418 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €7,675 | €16,093 | +€8,418 | +110% |
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 25 October 2026 via checked.be.