SD Project & Management: 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 Project & Management
Largest movements
- Receivables within one year -€8,890
down €8,890 (-95.8%), from €9,276 to €386
of which Trade receivables: -€9,276
- Profit (loss) carried forward -€3,842
down €3,842 (-67.1%), from -€5,724 to -€9,565
- Tax, wage and social debts -€3,461
no longer reported in 2025 (was €3,461)
of which Taxes: -€2,745
- Trade debts -€1,511
down €1,511 (-31.7%), from €4,763 to €3,251
- Gross operating margin -€30,290
down €30,290, from €28,423 to -€1,867
- Staff costs -€25,102
down €25,102 (-99.1%), from €25,331 to €229
- Financial charges +€888
up €888 (+193.9%), from €458 to €1,346
- Other operating charges +€400
new in 2025: €400
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,276 | €386 | -€8,890 | -95.8% |
| Current assets | 29/58 | €9,276 | €386 | -€8,890 | -95.8% |
| Amounts receivable within one year | 40/41 | €9,276 | €386 | -€8,890 | -95.8% |
| Trade receivables | 40 | €9,276 | - | -€9,276 | |
| Other amounts receivable | 41 | - | €386 | +€386 | |
| Total equity and liabilities | 10/49 | €9,276 | €386 | -€8,890 | -95.8% |
| Equity | 10/15 | -€3,724 | -€7,565 | -€3,842 | -103.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,724 | -€9,565 | -€3,842 | -67.1% |
| Amounts payable | 17/49 | €12,999 | €7,951 | -€5,048 | -38.8% |
| Amounts payable within one year | 42/48 | €12,999 | €7,951 | -€5,048 | -38.8% |
| Financial debts | 43 | €15 | - | -€15 | |
| Credit institutions | 430/8 | €15 | - | -€15 | |
| Trade debts | 44 | €4,763 | €3,251 | -€1,511 | -31.7% |
| Suppliers | 440/4 | €4,763 | €3,251 | -€1,511 | -31.7% |
| Taxes, remuneration and social security | 45 | €3,461 | - | -€3,461 | |
| Taxes | 450/3 | €2,745 | - | -€2,745 | |
| Remuneration and social security | 454/9 | €716 | - | -€716 | |
| Other amounts payable | 47/48 | €4,760 | €4,699 | -€60 | -1.3% |
| Remuneration, social security and pensions | 62 | €25,331 | €229 | -€25,102 | -99.1% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €28,423 | -€1,867 | -€30,290 | |
| Operating profit (loss) | 9901 | €3,091 | -€2,496 | -€5,587 | |
| Financial charges | 65/66B | €458 | €1,346 | +€888 | +193.9% |
| Recurring financial charges | 65 | €458 | €1,346 | +€888 | +193.9% |
| Profit (loss) for the period before taxes | 9903 | €2,634 | -€3,842 | -€6,475 | |
| Profit (loss) for the period | 9904 | €2,634 | -€3,842 | -€6,475 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,634 | -€3,842 | -€6,475 |
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 4 October 2026 via checked.be.