SD TRADING: 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 TRADING
Largest movements
- Cash +€250,457
up €250,457 (+130.8%), from €191,484 to €441,941
mainly Trade debts (+€406,115) and Net result for the year (+€47,919)
- Stocks and contracts +€173,727
up €173,727 (+597.4%), from €29,080 to €202,808
- Receivables within one year +€34,496
up €34,496 (+73.3%), from €47,071 to €81,567
of which Trade receivables: +€31,649
- Tangible fixed assets +€33,152
up €33,152 (+4733.7%), from €700 to €33,853
of which Furniture and vehicles: +€32,295
- Trade debts +€406,115
up €406,115 (+231.8%), from €175,207 to €581,323
- Profit (loss) carried forward +€47,919
up €47,919 (+74.9%), from €63,964 to €111,883
- Tax, wage and social debts +€30,629
up €30,629 (+114.1%), from €26,850 to €57,479
of which Remuneration and social security: +€17,891
- Gross operating margin +€133,731
up €133,731 (+204.4%), from €65,432 to €199,163
- Staff costs +€111,877
up €111,877 (+904.7%), from €12,367 to €124,243
- Financial charges +€7,350
up €7,350 (+226.6%), from €3,244 to €10,593
- Taxes +€5,435
up €5,435 (+54.5%), from €9,976 to €15,411
- Financial income +€3,907
up €3,907 (+4045.4%), from €97 to €4,004
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 | €273,491 | €763,268 | +€489,778 | +179.1% |
| Fixed assets | 21/28 | €4,150 | €33,853 | +€29,702 | +715.7% |
| Tangible fixed assets | 22/27 | €700 | €33,853 | +€33,152 | +4733.7% |
| Plant, machinery and equipment | 23 | €700 | €1,557 | +€857 | +122.4% |
| Furniture and vehicles | 24 | - | €32,295 | +€32,295 | |
| Financial fixed assets | 28 | €3,450 | - | -€3,450 | |
| Current assets | 29/58 | €269,340 | €729,416 | +€460,076 | +170.8% |
| Stocks and contracts in progress | 3 | €29,080 | €202,808 | +€173,727 | +597.4% |
| Stocks | 30/36 | €29,080 | €202,808 | +€173,727 | +597.4% |
| Amounts receivable within one year | 40/41 | €47,071 | €81,567 | +€34,496 | +73.3% |
| Trade receivables | 40 | €45,700 | €77,349 | +€31,649 | +69.3% |
| Other amounts receivable | 41 | €1,371 | €4,218 | +€2,847 | +207.6% |
| Cash at bank and in hand | 54/58 | €191,484 | €441,941 | +€250,457 | +130.8% |
| Deferred charges and accrued income | 490/1 | €1,705 | €3,100 | +€1,395 | +81.8% |
| Total equity and liabilities | 10/49 | €273,491 | €763,268 | +€489,778 | +179.1% |
| Equity | 10/15 | €68,964 | €116,883 | +€47,919 | +69.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,964 | €111,883 | +€47,919 | +74.9% |
| Amounts payable | 17/49 | €204,527 | €646,385 | +€441,858 | +216.0% |
| Amounts payable within one year | 42/48 | €204,527 | €646,385 | +€441,858 | +216.0% |
| Trade debts | 44 | €175,207 | €581,323 | +€406,115 | +231.8% |
| Suppliers | 440/4 | €175,207 | €581,323 | +€406,115 | +231.8% |
| Taxes, remuneration and social security | 45 | €26,850 | €57,479 | +€30,629 | +114.1% |
| Taxes | 450/3 | €20,820 | €33,558 | +€12,738 | +61.2% |
| Remuneration and social security | 454/9 | €6,030 | €23,920 | +€17,891 | +296.7% |
| Other amounts payable | 47/48 | €2,470 | €7,584 | +€5,114 | +207.0% |
| Remuneration, social security and pensions | 62 | €12,367 | €124,243 | +€111,877 | +904.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43 | €1,122 | +€1,079 | +2531.9% |
| Other operating charges | 640/8 | €347 | €3,879 | +€3,532 | +1017.8% |
| Gross operating margin | 9900 | €65,432 | €199,163 | +€133,731 | +204.4% |
| Operating profit (loss) | 9901 | €52,675 | €69,919 | +€17,244 | +32.7% |
| Financial income | 75/76B | €97 | €4,004 | +€3,907 | +4045.4% |
| Recurring financial income | 75 | €97 | €4,004 | +€3,907 | +4045.4% |
| Financial charges | 65/66B | €3,244 | €10,593 | +€7,350 | +226.6% |
| Recurring financial charges | 65 | €3,244 | €10,593 | +€7,350 | +226.6% |
| Profit (loss) for the period before taxes | 9903 | €49,529 | €63,330 | +€13,802 | +27.9% |
| Income taxes | 67/77 | €9,976 | €15,411 | +€5,435 | +54.5% |
| Profit (loss) for the period | 9904 | €39,553 | €47,919 | +€8,367 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,553 | €47,919 | +€8,367 | +21.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.