SD WORKWEAR: 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 WORKWEAR
Largest movements
- Cash -€187,864
down €187,864 (-44.0%), from €426,913 to €239,050
mainly Other debts (-€373,453) and Receivables within one year (-€52,838)
- Receivables within one year +€52,838
up €52,838 (+27.0%), from €195,337 to €248,175
of which Trade receivables: +€110,919
- Deferred charges and accrued income +€9,213
up €9,213 (+4.9%), from €186,546 to €195,759
- Other debts -€373,453
down €373,453 (-100.0%), from €373,606 to €154
- Profit (loss) carried forward +€231,459
new in 2025: €231,459
- Trade debts +€23,880
up €23,880 (+14.0%), from €170,873 to €194,753
- Tax, wage and social debts -€14,585
down €14,585 (-5.3%), from €273,201 to €258,616
of which Remuneration and social security: -€25,242
- Gross operating margin -€178,387
down €178,387 (-12.6%), from €1.4m to €1.2m
- Taxes -€47,550
down €47,550 (-35.8%), from €132,779 to €85,228
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.
Derived cash bridge
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 | €836,680 | €703,993 | -€132,687 | -15.9% |
| Fixed assets | 21/28 | €27,001 | €18,836 | -€8,165 | -30.2% |
| Tangible fixed assets | 22/27 | €27,001 | €18,836 | -€8,165 | -30.2% |
| Plant, machinery and equipment | 23 | €1,791 | €1,253 | -€538 | -30.0% |
| Furniture and vehicles | 24 | €6,900 | €4,484 | -€2,416 | -35.0% |
| Other tangible fixed assets | 26 | €18,310 | €13,098 | -€5,212 | -28.5% |
| Current assets | 29/58 | €809,679 | €685,157 | -€124,522 | -15.4% |
| Stocks and contracts in progress | 3 | €884 | €2,174 | +€1,290 | +146% |
| Stocks | 30/36 | €884 | €2,174 | +€1,290 | +146% |
| Amounts receivable within one year | 40/41 | €195,337 | €248,175 | +€52,838 | +27.0% |
| Trade receivables | 40 | €129,782 | €240,701 | +€110,919 | +85.5% |
| Other amounts receivable | 41 | €65,555 | €7,474 | -€58,081 | -88.6% |
| Cash at bank and in hand | 54/58 | €426,913 | €239,050 | -€187,864 | -44.0% |
| Deferred charges and accrued income | 490/1 | €186,546 | €195,759 | +€9,213 | +4.9% |
| Total equity and liabilities | 10/49 | €836,680 | €703,993 | -€132,687 | -15.9% |
| Equity | 10/15 | €19,000 | €250,459 | +€231,459 | +1,218% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €231,459 | +€231,459 | |
| Amounts payable | 17/49 | €817,680 | €453,533 | -€364,146 | -44.5% |
| Amounts payable within one year | 42/48 | €817,680 | €453,533 | -€364,146 | -44.5% |
| Financial debts | 43 | - | €11 | +€11 | |
| Credit institutions | 430/8 | - | €11 | +€11 | |
| Trade debts | 44 | €170,873 | €194,753 | +€23,880 | +14.0% |
| Suppliers | 440/4 | €170,873 | €194,753 | +€23,880 | +14.0% |
| Taxes, remuneration and social security | 45 | €273,201 | €258,616 | -€14,585 | -5.3% |
| Taxes | 450/3 | €91,635 | €102,292 | +€10,657 | +11.6% |
| Remuneration and social security | 454/9 | €181,566 | €156,324 | -€25,242 | -13.9% |
| Other amounts payable | 47/48 | €373,606 | €154 | -€373,453 | -100.0% |
| Remuneration, social security and pensions | 62 | €877,359 | €886,531 | +€9,172 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,992 | €10,526 | -€465 | -4.2% |
| Other operating charges | 640/8 | €20,868 | €17,513 | -€3,355 | -16.1% |
| Gross operating margin | 9900 | €1,413,116 | €1,234,729 | -€178,387 | -12.6% |
| Operating profit (loss) | 9901 | €503,897 | €320,159 | -€183,738 | -36.5% |
| Financial income | 75/76B | €13,072 | €7,461 | -€5,610 | -42.9% |
| Recurring financial income | 75 | €7,186 | €3,633 | -€3,553 | -49.4% |
| Non-recurring financial income | 76B | €5,886 | €3,828 | -€2,057 | -35.0% |
| Financial charges | 65/66B | €11,237 | €10,932 | -€305 | -2.7% |
| Recurring financial charges | 65 | €11,152 | €10,902 | -€250 | -2.2% |
| Non-recurring financial charges | 66B | €85 | €30 | -€55 | -64.7% |
| Profit (loss) for the period before taxes | 9903 | €505,731 | €316,688 | -€189,044 | -37.4% |
| Income taxes | 67/77 | €132,779 | €85,228 | -€47,550 | -35.8% |
| Profit (loss) for the period | 9904 | €372,953 | €231,459 | -€141,493 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €372,953 | €231,459 | -€141,493 | -37.9% |
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 27 October 2026 via checked.be.