SD ONE: 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 ONE
Largest movements
- Cash -€8,721
down €8,721 (-10.6%), from €82,361 to €73,640
mainly Contributions, distributions and other (-€55,393)
- Tangible fixed assets -€7,657
down €7,657 (-39.7%), from €19,283 to €11,626
of which Land and buildings: -€6,592
- Reserves -€27,249
down €27,249 (-12.5%), from €218,036 to €190,787
of which Distributable reserves: -€27,249
- Trade debts +€5,959
up €5,959 (+39.3%), from €15,157 to €21,116
- Gross operating margin +€9,289
up €9,289 (+22.4%), from €41,441 to €50,730
- Financial income -€2,932
down €2,932 (-67.4%), from €4,352 to €1,420
- Taxes +€2,544
up €2,544 (+19.4%), from €13,124 to €15,668
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 | €259,097 | €240,040 | -€19,057 | -7.4% |
| Fixed assets | 21/28 | €19,283 | €11,626 | -€7,657 | -39.7% |
| Tangible fixed assets | 22/27 | €19,283 | €11,626 | -€7,657 | -39.7% |
| Land and buildings | 22 | €17,183 | €10,591 | -€6,592 | -38.4% |
| Furniture and vehicles | 24 | €2,100 | €1,035 | -€1,065 | -50.7% |
| Current assets | 29/58 | €239,814 | €228,414 | -€11,400 | -4.8% |
| Amounts receivable after more than one year | 29 | €85,000 | €85,000 | = | 0.0% |
| Trade receivables | 290 | €85,000 | €85,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €70,139 | €69,774 | -€365 | -0.5% |
| Trade receivables | 40 | €22,346 | €36,073 | +€13,727 | +61.4% |
| Other amounts receivable | 41 | €47,793 | €33,701 | -€14,092 | -29.5% |
| Cash at bank and in hand | 54/58 | €82,361 | €73,640 | -€8,721 | -10.6% |
| Deferred charges and accrued income | 490/1 | €2,314 | - | -€2,314 | |
| Total equity and liabilities | 10/49 | €259,097 | €240,040 | -€19,057 | -7.4% |
| Equity | 10/15 | €236,636 | €209,387 | -€27,249 | -11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €218,036 | €190,787 | -€27,249 | -12.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €216,176 | €188,927 | -€27,249 | -12.6% |
| Amounts payable | 17/49 | €22,461 | €30,653 | +€8,192 | +36.5% |
| Amounts payable within one year | 42/48 | €22,461 | €30,653 | +€8,192 | +36.5% |
| Trade debts | 44 | €15,157 | €21,116 | +€5,959 | +39.3% |
| Suppliers | 440/4 | €15,157 | €21,116 | +€5,959 | +39.3% |
| Taxes, remuneration and social security | 45 | €7,304 | €9,537 | +€2,233 | +30.6% |
| Taxes | 450/3 | €7,304 | €9,537 | +€2,233 | +30.6% |
| Non-recurring operating income | 76A | €4 | - | -€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,830 | €7,657 | -€173 | -2.2% |
| Other operating charges | 640/8 | €869 | €520 | -€349 | -40.2% |
| Non-recurring operating charges | 66A | €741 | - | -€741 | |
| Gross operating margin | 9900 | €41,441 | €50,730 | +€9,289 | +22.4% |
| Operating profit (loss) | 9901 | €32,002 | €42,554 | +€10,552 | +33.0% |
| Financial income | 75/76B | €4,352 | €1,420 | -€2,932 | -67.4% |
| Recurring financial income | 75 | €4,352 | €1,420 | -€2,932 | -67.4% |
| Financial charges | 65/66B | €52 | €162 | +€110 | +212.3% |
| Recurring financial charges | 65 | €52 | €162 | +€110 | +212.3% |
| Profit (loss) for the period before taxes | 9903 | €36,302 | €43,812 | +€7,510 | +20.7% |
| Income taxes | 67/77 | €13,124 | €15,668 | +€2,544 | +19.4% |
| Profit (loss) for the period | 9904 | €23,178 | €28,144 | +€4,966 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,178 | €28,144 | +€4,966 | +21.4% |
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.