SDB 2: 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.
SDB 2
Largest movements
- Tangible fixed assets -€183,036
down €183,036 (-6.1%), from €3.0m to €2.8m
- Other debts -€259,916
down €259,916 (-8.7%), from €3.0m to €2.7m
- Profit (loss) carried forward +€109,260
up €109,260 (+14.8%), from -€740,590 to -€631,330
- Investment grants -€36,576
down €36,576 (-6.7%), from €548,640 to €512,064
- Financial charges -€40,724
down €40,724 (-23.9%), from €170,688 to €129,964
- Gross operating margin +€16,665
up €16,665 (+3.9%), from €423,820 to €440,485
- Other operating charges +€5,395
up €5,395 (+10.9%), from €49,407 to €54,802
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 | €3,111,229 | €2,928,824 | -€182,405 | -5.9% |
| Fixed assets | 21/28 | €3,015,226 | €2,832,190 | -€183,036 | -6.1% |
| Tangible fixed assets | 22/27 | €3,015,226 | €2,832,190 | -€183,036 | -6.1% |
| Land and buildings | 22 | €3,015,226 | €2,832,190 | -€183,036 | -6.1% |
| Current assets | 29/58 | €96,003 | €96,633 | +€631 | +0.7% |
| Amounts receivable within one year | 40/41 | €43,382 | €45,134 | +€1,753 | +4.0% |
| Trade receivables | 40 | €43,382 | €45,134 | +€1,753 | +4.0% |
| Cash at bank and in hand | 54/58 | €52,621 | €51,499 | -€1,122 | -2.1% |
| Total equity and liabilities | 10/49 | €3,111,229 | €2,928,824 | -€182,405 | -5.9% |
| Equity | 10/15 | €83,166 | €155,850 | +€72,684 | +87.4% |
| Contributions | 10/11 | €271,461 | €271,461 | = | 0.0% |
| Capital | 10 | €271,461 | €271,461 | = | 0.0% |
| Issued capital | 100 | €271,461 | €271,461 | = | 0.0% |
| Reserves | 13 | €3,655 | €3,655 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,655 | €3,655 | = | 0.0% |
| Legal reserve | 130 | €3,655 | €3,655 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€740,590 | -€631,330 | +€109,260 | +14.8% |
| Investment grants | 15 | €548,640 | €512,064 | -€36,576 | -6.7% |
| Amounts payable | 17/49 | €3,028,063 | €2,772,974 | -€255,089 | -8.4% |
| Amounts payable within one year | 42/48 | €3,011,058 | €2,750,250 | -€260,808 | -8.7% |
| Trade debts | 44 | €1,196 | - | -€1,196 | |
| Suppliers | 440/4 | €1,196 | - | -€1,196 | |
| Taxes, remuneration and social security | 45 | €7,529 | €7,833 | +€304 | +4.0% |
| Taxes | 450/3 | €7,529 | €7,833 | +€304 | +4.0% |
| Other amounts payable | 47/48 | €3,002,332 | €2,742,416 | -€259,916 | -8.7% |
| Accrued charges and deferred income | 492/3 | €17,005 | €22,724 | +€5,719 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,036 | €183,036 | +€0 | 0.0% |
| Other operating charges | 640/8 | €49,407 | €54,802 | +€5,395 | +10.9% |
| Gross operating margin | 9900 | €423,820 | €440,485 | +€16,665 | +3.9% |
| Operating profit (loss) | 9901 | €191,378 | €202,648 | +€11,270 | +5.9% |
| Financial income | 75/76B | €36,576 | €36,576 | = | 0.0% |
| Recurring financial income | 75 | €36,576 | €36,576 | = | 0.0% |
| Financial charges | 65/66B | €170,688 | €129,964 | -€40,724 | -23.9% |
| Recurring financial charges | 65 | €170,688 | €129,964 | -€40,724 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €57,266 | €109,260 | +€51,994 | +90.8% |
| Profit (loss) for the period | 9904 | €57,266 | €109,260 | +€51,994 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,266 | €109,260 | +€51,994 | +90.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.