SDA: 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.
SDA
Largest movements
- Cash -€13,961
down €13,961 (-12.5%), from €112,086 to €98,125
mainly Contributions, distributions and other (-€17,022) and Net result for the year (-€8,971)
- Tangible fixed assets -€10,836
down €10,836 (-57.4%), from €18,863 to €8,027
of which Furniture and vehicles: -€10,134
- Receivables within one year -€3,458
down €3,458 (-13.4%), from €25,901 to €22,443
of which Trade receivables: -€4,976
- Reserves -€17,022
down €17,022 (-12.9%), from €132,364 to €115,341
- Profit (loss) carried forward -€8,971
down €8,971 (-61.0%), from -€14,698 to -€23,669
- Current portion of long-term debt -€4,941
down €4,941 (-48.8%), from €10,121 to €5,180
- Tax, wage and social debts +€3,203
up €3,203 (+3,144%), from €102 to €3,305
of which Remuneration and social security: +€1,850
- Gross operating margin +€5,559
up €5,559, from -€1,314 to €4,245
- Financial income +€561
up €561 (+81.7%), from €686 to €1,247
- Depreciation +€428
up €428 (+4.1%), from €10,408 to €10,837
- Other operating charges -€344
down €344 (-33.7%), from €1,022 to €678
- Financial charges +€316
up €316 (+13.5%), from €2,332 to €2,648
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 | €158,242 | €130,036 | -€28,206 | -17.8% |
| Fixed assets | 21/28 | €18,863 | €8,027 | -€10,836 | -57.4% |
| Tangible fixed assets | 22/27 | €18,863 | €8,027 | -€10,836 | -57.4% |
| Plant, machinery and equipment | 23 | €1,334 | €631 | -€702 | -52.7% |
| Furniture and vehicles | 24 | €17,530 | €7,396 | -€10,134 | -57.8% |
| Current assets | 29/58 | €139,378 | €122,009 | -€17,369 | -12.5% |
| Stocks and contracts in progress | 3 | €1,391 | €881 | -€510 | -36.7% |
| Stocks | 30/36 | €1,391 | €881 | -€510 | -36.7% |
| Amounts receivable within one year | 40/41 | €25,901 | €22,443 | -€3,458 | -13.4% |
| Trade receivables | 40 | €13,975 | €8,999 | -€4,976 | -35.6% |
| Other amounts receivable | 41 | €11,927 | €13,444 | +€1,517 | +12.7% |
| Cash at bank and in hand | 54/58 | €112,086 | €98,125 | -€13,961 | -12.5% |
| Deferred charges and accrued income | 490/1 | - | €560 | +€560 | |
| Total equity and liabilities | 10/49 | €158,242 | €130,036 | -€28,206 | -17.8% |
| Equity | 10/15 | €136,266 | €110,273 | -€25,993 | -19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €132,364 | €115,341 | -€17,022 | -12.9% |
| Distributable reserves | 133 | €132,364 | €115,341 | -€17,022 | -12.9% |
| Profit (loss) carried forward | 14 | -€14,698 | -€23,669 | -€8,971 | -61.0% |
| Amounts payable | 17/49 | €21,976 | €19,764 | -€2,213 | -10.1% |
| Amounts payable after more than one year | 17 | €8,719 | €8,719 | = | 0.0% |
| Financial debts | 170/4 | €8,719 | €8,719 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,257 | €11,045 | -€2,213 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €10,121 | €5,180 | -€4,941 | -48.8% |
| Trade debts | 44 | €3,034 | €2,560 | -€475 | -15.6% |
| Suppliers | 440/4 | €3,034 | €2,560 | -€475 | -15.6% |
| Taxes, remuneration and social security | 45 | €102 | €3,305 | +€3,203 | +3,144% |
| Taxes | 450/3 | €102 | €1,455 | +€1,353 | +1,328% |
| Remuneration and social security | 454/9 | - | €1,850 | +€1,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,408 | €10,837 | +€428 | +4.1% |
| Other operating charges | 640/8 | €1,022 | €678 | -€344 | -33.7% |
| Gross operating margin | 9900 | -€1,314 | €4,245 | +€5,559 | |
| Operating profit (loss) | 9901 | -€12,745 | -€7,269 | +€5,475 | +43.0% |
| Financial income | 75/76B | €686 | €1,247 | +€561 | +81.7% |
| Recurring financial income | 75 | €686 | €1,247 | +€561 | +81.7% |
| Financial charges | 65/66B | €2,332 | €2,648 | +€316 | +13.5% |
| Recurring financial charges | 65 | €2,332 | €2,648 | +€316 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,390 | -€8,670 | +€5,720 | +39.8% |
| Income taxes | 67/77 | €308 | €301 | -€7 | -2.2% |
| Profit (loss) for the period | 9904 | -€14,698 | -€8,971 | +€5,727 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,698 | -€8,971 | +€5,727 | +39.0% |
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 16 October 2026 via checked.be.