SD SOFTWARE: 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 SOFTWARE
Largest movements
- Tangible fixed assets +€157,832
up €157,832 (+7082.0%), from €2,229 to €160,060
of which Land and buildings: +€156,148
- Cash -€47,054
down €47,054 (-65.2%), from €72,157 to €25,103
mainly Investment in fixed assets (net) (-€163,853) and Deferred charges and accrued income (-€9,209)
- Current investments -€30,753
down €30,753 (-100.0%), from €30,753 to €0
- Deferred charges and accrued income +€9,209
up €9,209 (+2415.4%), from €381 to €9,590
- Receivables within one year +€4,334
up €4,334 (+125.1%), from €3,465 to €7,799
of which Other amounts receivable: +€6,560
- Debts after one year +€56,221
new in 2025: €56,221
- Reserves +€31,298
up €31,298 (+127.7%), from €24,508 to €55,806
- Current portion of long-term debt +€11,014
new in 2025: €11,014
- Tax, wage and social debts -€8,694
down €8,694 (-73.6%), from €11,816 to €3,122
- Trade debts +€3,992
up €3,992 (+379.5%), from €1,052 to €5,044
- Gross operating margin -€13,739
down €13,739 (-25.6%), from €53,598 to €39,859
- Taxes -€7,328
down €7,328 (-68.7%), from €10,660 to €3,331
- Depreciation +€4,576
up €4,576 (+316.7%), from €1,445 to €6,021
- Financial income +€3,620
up €3,620 (+529.3%), from €684 to €4,304
- Financial charges +€2,415
up €2,415 (+2261.5%), from €107 to €2,522
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 | €108,985 | €202,553 | +€93,567 | +85.9% |
| Fixed assets | 21/28 | €2,229 | €160,060 | +€157,832 | +7082.0% |
| Tangible fixed assets | 22/27 | €2,229 | €160,060 | +€157,832 | +7082.0% |
| Land and buildings | 22 | - | €156,148 | +€156,148 | |
| Plant, machinery and equipment | 23 | €323 | €3,205 | +€2,883 | +892.9% |
| Furniture and vehicles | 24 | €1,906 | €707 | -€1,199 | -62.9% |
| Current assets | 29/58 | €106,757 | €42,492 | -€64,264 | -60.2% |
| Amounts receivable within one year | 40/41 | €3,465 | €7,799 | +€4,334 | +125.1% |
| Trade receivables | 40 | €3,357 | €1,131 | -€2,226 | -66.3% |
| Other amounts receivable | 41 | €108 | €6,669 | +€6,560 | +6052.5% |
| Current investments | 50/53 | €30,753 | €0 | -€30,753 | -100.0% |
| Cash at bank and in hand | 54/58 | €72,157 | €25,103 | -€47,054 | -65.2% |
| Deferred charges and accrued income | 490/1 | €381 | €9,590 | +€9,209 | +2415.4% |
| Total equity and liabilities | 10/49 | €108,985 | €202,553 | +€93,567 | +85.9% |
| Equity | 10/15 | €43,108 | €74,406 | +€31,298 | +72.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,508 | €55,806 | +€31,298 | +127.7% |
| Distributable reserves | 133 | €24,508 | €55,806 | +€31,298 | +127.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,877 | €128,146 | +€62,269 | +94.5% |
| Amounts payable after more than one year | 17 | - | €56,221 | +€56,221 | |
| Financial debts | 170/4 | - | €56,221 | +€56,221 | |
| Amounts payable within one year | 42/48 | €64,367 | €70,169 | +€5,802 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,014 | +€11,014 | |
| Trade debts | 44 | €1,052 | €5,044 | +€3,992 | +379.5% |
| Suppliers | 440/4 | €1,052 | €5,044 | +€3,992 | +379.5% |
| Taxes, remuneration and social security | 45 | €11,816 | €3,122 | -€8,694 | -73.6% |
| Taxes | 450/3 | €11,816 | €3,122 | -€8,694 | -73.6% |
| Other amounts payable | 47/48 | €51,499 | €50,989 | -€511 | -1.0% |
| Accrued charges and deferred income | 492/3 | €1,510 | €1,757 | +€246 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,445 | €6,021 | +€4,576 | +316.7% |
| Other operating charges | 640/8 | €754 | €991 | +€237 | +31.5% |
| Gross operating margin | 9900 | €53,598 | €39,859 | -€13,739 | -25.6% |
| Operating profit (loss) | 9901 | €51,400 | €32,848 | -€18,552 | -36.1% |
| Financial income | 75/76B | €684 | €4,304 | +€3,620 | +529.3% |
| Recurring financial income | 75 | €684 | €4,304 | +€3,620 | +529.3% |
| Financial charges | 65/66B | €107 | €2,522 | +€2,415 | +2261.5% |
| Recurring financial charges | 65 | €107 | €2,522 | +€2,415 | +2261.5% |
| Profit (loss) for the period before taxes | 9903 | €51,977 | €34,629 | -€17,348 | -33.4% |
| Income taxes | 67/77 | €10,660 | €3,331 | -€7,328 | -68.7% |
| Profit (loss) for the period | 9904 | €41,317 | €31,298 | -€10,019 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,317 | €31,298 | -€10,019 | -24.2% |
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 8 October 2026 via checked.be.