SD-MATIC: what changed
Two fiscal 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-MATIC
Largest movements
- Cash -€34,951
down €34,951 (-99.7%), from €35,047 to €96
mainly Contributions, distributions and other (-€40,000) and Receivables within one year (-€28,212)
- Receivables within one year +€28,212
up €28,212 (+73.0%), from €38,664 to €66,875
of which Trade receivables: +€28,212
- Tangible fixed assets -€11,298
down €11,298 (-27.3%), from €41,409 to €30,111
of which Furniture and vehicles: -€7,346
- Stocks and contracts +€3,582
up €3,582 (+41.3%), from €8,675 to €12,257
- Other debts +€30,852
up €30,852 (+270.5%), from €11,407 to €42,258
- Reserves -€27,000
down €27,000 (-45.1%), from €59,900 to €32,900
- Current portion of long-term debt -€13,104
down €13,104 (-93.2%), from €14,056 to €952
- Tax, wage and social debts -€11,941
down €11,941 (-56.4%), from €21,167 to €9,226
of which Taxes: -€11,941
- Short-term financial debts +€6,124
up €6,124, from €0 to €6,124
- Gross operating margin -€27,959
down €27,959 (-45.8%), from €61,062 to €33,103
- Taxes -€2,277
down €2,277 (-30.6%), from €7,437 to €5,161
- Depreciation -€749
down €749 (-5.3%), from €14,161 to €13,412
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 | €130,121 | €115,050 | -€15,071 | -11.6% |
| Fixed assets | 21/28 | €44,449 | €32,532 | -€11,918 | -26.8% |
| Intangible fixed assets | 21 | €1,637 | €1,017 | -€620 | -37.9% |
| Tangible fixed assets | 22/27 | €41,409 | €30,111 | -€11,298 | -27.3% |
| Plant, machinery and equipment | 23 | €31,622 | €27,730 | -€3,892 | -12.3% |
| Furniture and vehicles | 24 | €9,728 | €2,381 | -€7,346 | -75.5% |
| Other tangible fixed assets | 26 | €59 | €0 | -€59 | -100.0% |
| Financial fixed assets | 28 | €1,403 | €1,403 | = | 0.0% |
| Current assets | 29/58 | €85,672 | €82,518 | -€3,154 | -3.7% |
| Stocks and contracts in progress | 3 | €8,675 | €12,257 | +€3,582 | +41.3% |
| Stocks | 30/36 | €8,675 | €12,257 | +€3,582 | +41.3% |
| Amounts receivable within one year | 40/41 | €38,664 | €66,875 | +€28,212 | +73.0% |
| Trade receivables | 40 | €38,663 | €66,874 | +€28,212 | +73.0% |
| Other amounts receivable | 41 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,047 | €96 | -€34,951 | -99.7% |
| Deferred charges and accrued income | 490/1 | €3,286 | €3,290 | +€4 | +0.1% |
| Total equity and liabilities | 10/49 | €130,121 | €115,050 | -€15,071 | -11.6% |
| Equity | 10/15 | €69,904 | €42,996 | -€26,907 | -38.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €59,900 | €32,900 | -€27,000 | -45.1% |
| Distributable reserves | 133 | €59,900 | €32,900 | -€27,000 | -45.1% |
| Profit (loss) carried forward | 14 | €4 | €96 | +€93 | +2428.3% |
| Amounts payable | 17/49 | €60,217 | €72,054 | +€11,836 | +19.7% |
| Amounts payable after more than one year | 17 | €952 | €0 | -€952 | -100.0% |
| Financial debts | 170/4 | €952 | €0 | -€952 | -100.0% |
| Amounts payable within one year | 42/48 | €59,265 | €72,054 | +€12,789 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €14,056 | €952 | -€13,104 | -93.2% |
| Financial debts | 43 | €0 | €6,124 | +€6,124 | |
| Credit institutions | 430/8 | €0 | €6,124 | +€6,124 | |
| Trade debts | 44 | €12,635 | €13,494 | +€859 | +6.8% |
| Suppliers | 440/4 | €12,635 | €13,494 | +€859 | +6.8% |
| Taxes, remuneration and social security | 45 | €21,167 | €9,226 | -€11,941 | -56.4% |
| Taxes | 450/3 | €21,167 | €9,226 | -€11,941 | -56.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,407 | €42,258 | +€30,852 | +270.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,161 | €13,412 | -€749 | -5.3% |
| Other operating charges | 640/8 | €1,371 | €1,668 | +€297 | +21.6% |
| Gross operating margin | 9900 | €61,062 | €33,103 | -€27,959 | -45.8% |
| Operating profit (loss) | 9901 | €45,530 | €18,023 | -€27,507 | -60.4% |
| Financial income | 75/76B | €803 | €1,311 | +€508 | +63.3% |
| Recurring financial income | 75 | €803 | €1,311 | +€508 | +63.3% |
| Financial charges | 65/66B | €1,513 | €1,080 | -€433 | -28.6% |
| Recurring financial charges | 65 | €1,513 | €1,080 | -€433 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €44,820 | €18,253 | -€26,566 | -59.3% |
| Income taxes | 67/77 | €7,437 | €5,161 | -€2,277 | -30.6% |
| Profit (loss) for the period | 9904 | €37,382 | €13,093 | -€24,290 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,382 | €13,093 | -€24,290 | -65.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.