SDBF: 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.
SDBF
Largest movements
- Cash -€146,984
down €146,984 (-31.7%), from €464,319 to €317,335
mainly Receivables within one year (-€68,657) and Trade debts (-€38,814)
- Receivables within one year +€68,657
up €68,657 (+58.0%), from €118,295 to €186,952
of which Trade receivables: +€61,920
- Tangible fixed assets -€33,271
down €33,271 (-6.6%), from €505,610 to €472,339
of which Land and buildings: -€32,677
- Trade debts -€38,814
down €38,814 (-83.5%), from €46,493 to €7,679
- Tax, wage and social debts -€30,301
down €30,301 (-48.4%), from €62,606 to €32,305
of which Taxes: -€30,285
- Debts after one year -€27,839
down €27,839 (-6.9%), from €403,522 to €375,683
- Reserves -€11,502
down €11,502 (-2.6%), from €442,326 to €430,823
of which Distributable reserves: -€11,502
- Gross operating margin -€116,508
down €116,508 (-76.0%), from €153,224 to €36,717
- Staff costs -€29,401
down €29,401 (-100.0%), from €29,401 to €0
- Taxes -€22,094
down €22,094, from €22,066 to -€28
- Write-downs +€2,847
new in 2025: €2,847
- Financial charges -€1,909
down €1,909 (-13.9%), from €13,703 to €11,794
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 | €1,104,249 | €982,215 | -€122,035 | -11.1% |
| Fixed assets | 21/28 | €505,610 | €472,339 | -€33,271 | -6.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €505,610 | €472,339 | -€33,271 | -6.6% |
| Land and buildings | 22 | €503,940 | €471,263 | -€32,677 | -6.5% |
| Furniture and vehicles | 24 | €1,671 | €1,076 | -€594 | -35.6% |
| Current assets | 29/58 | €598,639 | €509,875 | -€88,764 | -14.8% |
| Amounts receivable after more than one year | 29 | €10,800 | €0 | -€10,800 | -100.0% |
| Trade receivables | 290 | €10,800 | €0 | -€10,800 | -100.0% |
| Amounts receivable within one year | 40/41 | €118,295 | €186,952 | +€68,657 | +58.0% |
| Trade receivables | 40 | €115,130 | €177,050 | +€61,920 | +53.8% |
| Other amounts receivable | 41 | €3,165 | €9,902 | +€6,737 | +212.9% |
| Cash at bank and in hand | 54/58 | €464,319 | €317,335 | -€146,984 | -31.7% |
| Deferred charges and accrued income | 490/1 | €5,225 | €5,588 | +€363 | +6.9% |
| Total equity and liabilities | 10/49 | €1,104,249 | €982,215 | -€122,035 | -11.1% |
| Equity | 10/15 | €462,326 | €450,823 | -€11,502 | -2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €442,326 | €430,823 | -€11,502 | -2.6% |
| Tax-exempt reserves | 132 | €28,900 | €28,900 | = | 0.0% |
| Distributable reserves | 133 | €413,426 | €401,923 | -€11,502 | -2.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €641,924 | €531,391 | -€110,533 | -17.2% |
| Amounts payable after more than one year | 17 | €403,522 | €375,683 | -€27,839 | -6.9% |
| Financial debts | 170/4 | €403,522 | €375,683 | -€27,839 | -6.9% |
| Amounts payable within one year | 42/48 | €228,274 | €150,956 | -€77,318 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €27,537 | €27,839 | +€302 | +1.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €46,493 | €7,679 | -€38,814 | -83.5% |
| Suppliers | 440/4 | €46,493 | €7,679 | -€38,814 | -83.5% |
| Taxes, remuneration and social security | 45 | €62,606 | €32,305 | -€30,301 | -48.4% |
| Taxes | 450/3 | €62,590 | €32,305 | -€30,285 | -48.4% |
| Remuneration and social security | 454/9 | €16 | €0 | -€16 | -100.0% |
| Other amounts payable | 47/48 | €91,637 | €83,132 | -€8,505 | -9.3% |
| Accrued charges and deferred income | 492/3 | €10,128 | €4,752 | -€5,376 | -53.1% |
| Non-recurring operating income | 76A | €72,209 | €83,998 | +€11,788 | +16.3% |
| Remuneration, social security and pensions | 62 | €29,401 | €0 | -€29,401 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,921 | €33,271 | -€1,650 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,847 | +€2,847 | |
| Other operating charges | 640/8 | €4,857 | €4,060 | -€797 | -16.4% |
| Gross operating margin | 9900 | €153,224 | €36,717 | -€116,508 | -76.0% |
| Operating profit (loss) | 9901 | €84,047 | -€3,461 | -€87,508 | |
| Financial income | 75/76B | €2,931 | €3,725 | +€794 | +27.1% |
| Recurring financial income | 75 | €2,931 | €3,725 | +€794 | +27.1% |
| Financial charges | 65/66B | €13,703 | €11,794 | -€1,909 | -13.9% |
| Recurring financial charges | 65 | €13,703 | €11,794 | -€1,909 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €73,274 | -€11,530 | -€84,804 | |
| Income taxes | 67/77 | €22,066 | -€28 | -€22,094 | |
| Profit (loss) for the period | 9904 | €51,208 | -€11,502 | -€62,710 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,208 | -€11,502 | -€62,710 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.