SDBR: 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.
SDBR
Largest movements
- Tangible fixed assets +€377,318
new in 2025: €377,318
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€57,801
up €57,801 (+2665.5%), from €2,169 to €59,970
mainly Debts after one year (+€310,198) and Current investments (+€100,000)
- Receivables within one year +€4,685
up €4,685 (+26.3%), from €17,797 to €22,482
of which Other amounts receivable: +€2,752
- Debts after one year +€310,198
new in 2025: €310,198
- Reserves +€40,737
up €40,737 (+66.9%), from €60,913 to €101,650
- Other debts -€17,138
no longer reported in 2025 (was €17,138)
- Current portion of long-term debt +€12,862
new in 2025: €12,862
- Tax, wage and social debts -€5,845
down €5,845 (-15.6%), from €37,560 to €31,715
- Depreciation +€55,049
up €55,049 (+12621.5%), from €436 to €55,485
- Gross operating margin +€39,535
up €39,535 (+45.5%), from €86,889 to €126,424
- Financial charges +€12,526
up €12,526 (+149837.9%), from €8 to €12,535
of which Non-recurring financial charges: +€9,238
- Taxes -€6,852
down €6,852 (-28.7%), from €23,879 to €17,028
- Financial income +€1,451
up €1,451 (+28068.7%), from €5 to €1,456
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 | €121,201 | €461,193 | +€339,991 | +280.5% |
| Formation expenses | 20 | €456 | - | -€456 | |
| Fixed assets | 21/28 | - | €377,318 | +€377,318 | |
| Tangible fixed assets | 22/27 | - | €377,318 | +€377,318 | |
| Land and buildings | 22 | - | €377,318 | +€377,318 | |
| Current assets | 29/58 | €120,746 | €83,875 | -€36,871 | -30.5% |
| Amounts receivable within one year | 40/41 | €17,797 | €22,482 | +€4,685 | +26.3% |
| Trade receivables | 40 | €17,797 | €19,730 | +€1,933 | +10.9% |
| Other amounts receivable | 41 | - | €2,752 | +€2,752 | |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €2,169 | €59,970 | +€57,801 | +2665.5% |
| Deferred charges and accrued income | 490/1 | €781 | €1,423 | +€643 | +82.3% |
| Total equity and liabilities | 10/49 | €121,201 | €461,193 | +€339,991 | +280.5% |
| Equity | 10/15 | €62,913 | €103,650 | +€40,737 | +64.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €60,913 | €101,650 | +€40,737 | +66.9% |
| Distributable reserves | 133 | €60,913 | €101,650 | +€40,737 | +66.9% |
| Amounts payable | 17/49 | €58,288 | €357,543 | +€299,255 | +513.4% |
| Amounts payable after more than one year | 17 | - | €310,198 | +€310,198 | |
| Financial debts | 170/4 | - | €310,198 | +€310,198 | |
| Amounts payable within one year | 42/48 | €58,288 | €45,658 | -€12,631 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | - | €12,862 | +€12,862 | |
| Trade debts | 44 | €3,591 | €1,081 | -€2,510 | -69.9% |
| Suppliers | 440/4 | €3,591 | €1,081 | -€2,510 | -69.9% |
| Taxes, remuneration and social security | 45 | €37,560 | €31,715 | -€5,845 | -15.6% |
| Taxes | 450/3 | €37,560 | €31,715 | -€5,845 | -15.6% |
| Other amounts payable | 47/48 | €17,138 | - | -€17,138 | |
| Accrued charges and deferred income | 492/3 | - | €1,687 | +€1,687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €436 | €55,485 | +€55,049 | +12621.5% |
| Other operating charges | 640/8 | €1,657 | €2,097 | +€440 | +26.5% |
| Gross operating margin | 9900 | €86,889 | €126,424 | +€39,535 | +45.5% |
| Operating profit (loss) | 9901 | €84,796 | €68,843 | -€15,953 | -18.8% |
| Financial income | 75/76B | €5 | €1,456 | +€1,451 | +28068.7% |
| Recurring financial income | 75 | €5 | €1,456 | +€1,451 | +28068.7% |
| Financial charges | 65/66B | €8 | €12,535 | +€12,526 | +149837.9% |
| Recurring financial charges | 65 | €8 | €3,297 | +€3,289 | +39338.2% |
| Non-recurring financial charges | 66B | - | €9,238 | +€9,238 | |
| Profit (loss) for the period before taxes | 9903 | €84,793 | €57,764 | -€27,028 | -31.9% |
| Income taxes | 67/77 | €23,879 | €17,028 | -€6,852 | -28.7% |
| Profit (loss) for the period | 9904 | €60,913 | €40,737 | -€20,177 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,913 | €40,737 | -€20,177 | -33.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.