SD RF ENGINEERING: 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 RF ENGINEERING
Largest movements
- Cash +€17,798
up €17,798 (+29.0%), from €61,454 to €79,252
mainly Depreciation (+€25,639) and Net result for the year (+€11,021)
- Tangible fixed assets -€12,905
down €12,905 (-24.2%), from €53,240 to €40,335
of which Plant, machinery and equipment: -€9,091
- Receivables within one year -€4,914
down €4,914 (-35.8%), from €13,739 to €8,824
of which Other amounts receivable: -€9,399
- Reserves +€11,021
up €11,021 (+13.6%), from €81,006 to €92,027
of which Distributable reserves: +€11,021
- Debts after one year -€5,353
down €5,353 (-32.8%), from €16,306 to €10,953
- Other debts -€5,097
down €5,097 (-27.4%), from €18,603 to €13,506
- Gross operating margin -€26,957
down €26,957 (-38.0%), from €70,979 to €44,022
- Taxes -€12,027
down €12,027 (-73.4%), from €16,388 to €4,361
- Depreciation +€10,020
up €10,020 (+64.1%), from €15,620 to €25,639
- Financial charges +€755
up €755 (+39.0%), from €1,936 to €2,691
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 | €129,261 | €129,732 | +€471 | +0.4% |
| Fixed assets | 21/28 | €53,240 | €40,770 | -€12,470 | -23.4% |
| Tangible fixed assets | 22/27 | €53,240 | €40,335 | -€12,905 | -24.2% |
| Land and buildings | 22 | €2,667 | €1,796 | -€872 | -32.7% |
| Plant, machinery and equipment | 23 | €47,049 | €37,958 | -€9,091 | -19.3% |
| Furniture and vehicles | 24 | €3,523 | €581 | -€2,942 | -83.5% |
| Financial fixed assets | 28 | - | €435 | +€435 | |
| Current assets | 29/58 | €76,022 | €88,962 | +€12,941 | +17.0% |
| Amounts receivable within one year | 40/41 | €13,739 | €8,824 | -€4,914 | -35.8% |
| Trade receivables | 40 | €2,195 | €6,680 | +€4,485 | +204.3% |
| Other amounts receivable | 41 | €11,543 | €2,144 | -€9,399 | -81.4% |
| Cash at bank and in hand | 54/58 | €61,454 | €79,252 | +€17,798 | +29.0% |
| Deferred charges and accrued income | 490/1 | €828 | €885 | +€57 | +6.9% |
| Total equity and liabilities | 10/49 | €129,261 | €129,732 | +€471 | +0.4% |
| Equity | 10/15 | €87,206 | €98,227 | +€11,021 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,006 | €92,027 | +€11,021 | +13.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €81,006 | €92,027 | +€11,021 | +13.6% |
| Amounts payable | 17/49 | €42,056 | €31,505 | -€10,551 | -25.1% |
| Amounts payable after more than one year | 17 | €16,306 | €10,953 | -€5,353 | -32.8% |
| Financial debts | 170/4 | €16,306 | €10,953 | -€5,353 | -32.8% |
| Amounts payable within one year | 42/48 | €25,749 | €20,552 | -€5,197 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €6,305 | €5,353 | -€952 | -15.1% |
| Financial debts | 43 | - | €21 | +€21 | |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Trade debts | 44 | €186 | €635 | +€449 | +241.5% |
| Suppliers | 440/4 | €186 | €635 | +€449 | +241.5% |
| Taxes, remuneration and social security | 45 | €656 | €1,037 | +€381 | +58.2% |
| Taxes | 450/3 | €656 | €1,037 | +€381 | +58.2% |
| Other amounts payable | 47/48 | €18,603 | €13,506 | -€5,097 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,620 | €25,639 | +€10,020 | +64.1% |
| Other operating charges | 640/8 | €616 | €570 | -€46 | -7.5% |
| Gross operating margin | 9900 | €70,979 | €44,022 | -€26,957 | -38.0% |
| Operating profit (loss) | 9901 | €54,743 | €17,812 | -€36,931 | -67.5% |
| Financial income | 75/76B | €0 | €261 | +€261 | +435000.0% |
| Recurring financial income | 75 | €0 | €261 | +€261 | +435000.0% |
| Financial charges | 65/66B | €1,936 | €2,691 | +€755 | +39.0% |
| Recurring financial charges | 65 | €1,936 | €2,691 | +€755 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €52,807 | €15,382 | -€37,425 | -70.9% |
| Income taxes | 67/77 | €16,388 | €4,361 | -€12,027 | -73.4% |
| Profit (loss) for the period | 9904 | €36,420 | €11,021 | -€25,398 | -69.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,420 | €11,021 | -€25,398 | -69.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.