SDB-INVEST: what changed
SDB-INVEST
Largest movements
- Cash +€53,203
up €53,203 (+135%), from €39,337 to €92,540
mainly Net result for the year (+€49,097) and Other debts (+€24,935)
- Receivables within one year +€16,951
up €16,951 (+4.0%), from €428,672 to €445,624
- Reserves +€49,097
up €49,097 (+12.5%), from €391,455 to €440,552
of which Distributable reserves: +€49,097
- Other debts +€24,935
up €24,935 (+73.1%), from €34,115 to €59,050
- Tax, wage and social debts -€5,920
down €5,920 (-36.4%), from €16,266 to €10,346
- Gross operating margin +€18,000
up €18,000 (+54.1%), from €33,256 to €51,256
- Taxes +€5,111
up €5,111 (+38.3%), from €13,350 to €18,461
- Financial income +€652
up €652 (+4.0%), from €16,304 to €16,956
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €470,108 | €538,164 | +€68,057 | +14.5% |
| Current assets | 29/58 | €470,108 | €538,164 | +€68,057 | +14.5% |
| Amounts receivable within one year | 40/41 | €428,672 | €445,624 | +€16,951 | +4.0% |
| Other amounts receivable | 41 | €428,672 | €445,624 | +€16,951 | +4.0% |
| Cash at bank and in hand | 54/58 | €39,337 | €92,540 | +€53,203 | +135% |
| Deferred charges and accrued income | 490/1 | €2,098 | - | -€2,098 | |
| Total equity and liabilities | 10/49 | €470,108 | €538,164 | +€68,057 | +14.5% |
| Equity | 10/15 | €403,855 | €452,952 | +€49,097 | +12.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €391,455 | €440,552 | +€49,097 | +12.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €389,600 | €438,697 | +€49,097 | +12.6% |
| Amounts payable | 17/49 | €66,253 | €85,212 | +€18,959 | +28.6% |
| Amounts payable within one year | 42/48 | €54,933 | €70,577 | +€15,645 | +28.5% |
| Trade debts | 44 | €4,551 | €1,181 | -€3,370 | -74.0% |
| Suppliers | 440/4 | €4,551 | €1,181 | -€3,370 | -74.0% |
| Taxes, remuneration and social security | 45 | €16,266 | €10,346 | -€5,920 | -36.4% |
| Taxes | 450/3 | €16,266 | €10,346 | -€5,920 | -36.4% |
| Other amounts payable | 47/48 | €34,115 | €59,050 | +€24,935 | +73.1% |
| Accrued charges and deferred income | 492/3 | €11,320 | €14,635 | +€3,315 | +29.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €33,256 | €51,256 | +€18,000 | +54.1% |
| Operating profit (loss) | 9901 | €32,868 | €50,856 | +€17,987 | +54.7% |
| Financial income | 75/76B | €16,304 | €16,956 | +€652 | +4.0% |
| Recurring financial income | 75 | €16,304 | €16,956 | +€652 | +4.0% |
| Financial charges | 65/66B | €633 | €253 | -€380 | -60.0% |
| Recurring financial charges | 65 | €633 | €253 | -€380 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €48,539 | €67,559 | +€19,020 | +39.2% |
| Income taxes | 67/77 | €13,350 | €18,461 | +€5,111 | +38.3% |
| Profit (loss) for the period | 9904 | €35,189 | €49,097 | +€13,908 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,189 | €49,097 | +€13,908 | +39.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.