SDC: 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.
SDC
Largest movements
- Cash +€44,224
up €44,224 (+100%), from €44,196 to €88,420
mainly Net result for the year (+€65,092) and Tax, wage and social debts (+€30,213)
- Tangible fixed assets -€6,515
down €6,515 (-5.1%), from €127,417 to €120,902
of which Land and buildings: -€7,112
- Receivables within one year -€5,940
down €5,940 (-7.7%), from €76,917 to €70,977
of which Other amounts receivable: -€12,399
- Reserves +€45,000
up €45,000 (+66.2%), from €68,000 to €113,000
- Trade debts -€41,478
down €41,478 (-61.5%), from €67,417 to €25,940
- Tax, wage and social debts +€30,213
up €30,213 (+530%), from €5,700 to €35,913
of which Taxes: +€29,413
- Debts after one year -€7,603
down €7,603 (-8.7%), from €86,918 to €79,315
- Other debts +€4,530
up €4,530 (+116%), from €3,914 to €8,444
- Gross operating margin +€66,787
up €66,787 (+129%), from €51,651 to €118,438
- Taxes +€22,970
up €22,970 (+261%), from €8,809 to €31,779
- Financial charges +€5,115
up €5,115 (+73.6%), from €6,951 to €12,067
- Financial income +€2,232
up €2,232 (+348%), from €641 to €2,873
- Depreciation -€1,910
down €1,910 (-18.6%), from €10,291 to €8,380
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 | €248,529 | €280,409 | +€31,879 | +12.8% |
| Fixed assets | 21/28 | €127,417 | €120,902 | -€6,515 | -5.1% |
| Tangible fixed assets | 22/27 | €127,417 | €120,902 | -€6,515 | -5.1% |
| Land and buildings | 22 | €125,302 | €118,190 | -€7,112 | -5.7% |
| Plant, machinery and equipment | 23 | - | €1,512 | +€1,512 | |
| Furniture and vehicles | 24 | €2,115 | €1,200 | -€915 | -43.3% |
| Current assets | 29/58 | €121,112 | €159,507 | +€38,394 | +31.7% |
| Amounts receivable within one year | 40/41 | €76,917 | €70,977 | -€5,940 | -7.7% |
| Trade receivables | 40 | €58,553 | €65,012 | +€6,459 | +11.0% |
| Other amounts receivable | 41 | €18,364 | €5,965 | -€12,399 | -67.5% |
| Cash at bank and in hand | 54/58 | €44,196 | €88,420 | +€44,224 | +100% |
| Deferred charges and accrued income | 490/1 | - | €109 | +€109 | |
| Total equity and liabilities | 10/49 | €248,529 | €280,409 | +€31,879 | +12.8% |
| Equity | 10/15 | €77,101 | €122,193 | +€45,092 | +58.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €68,000 | €113,000 | +€45,000 | +66.2% |
| Distributable reserves | 133 | €68,000 | €113,000 | +€45,000 | +66.2% |
| Profit (loss) carried forward | 14 | €2,901 | €2,993 | +€92 | +3.2% |
| Amounts payable | 17/49 | €171,428 | €158,216 | -€13,212 | -7.7% |
| Amounts payable after more than one year | 17 | €86,918 | €79,315 | -€7,603 | -8.7% |
| Financial debts | 170/4 | €86,918 | €79,315 | -€7,603 | -8.7% |
| Amounts payable within one year | 42/48 | €84,510 | €77,900 | -€6,610 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €7,478 | €7,603 | +€124 | +1.7% |
| Trade debts | 44 | €67,417 | €25,940 | -€41,478 | -61.5% |
| Suppliers | 440/4 | €67,417 | €25,940 | -€41,478 | -61.5% |
| Taxes, remuneration and social security | 45 | €5,700 | €35,913 | +€30,213 | +530% |
| Taxes | 450/3 | €2,300 | €31,713 | +€29,413 | +1,279% |
| Remuneration and social security | 454/9 | €3,400 | €4,200 | +€800 | +23.5% |
| Other amounts payable | 47/48 | €3,914 | €8,444 | +€4,530 | +116% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | - | €78 | +€78 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,291 | €8,380 | -€1,910 | -18.6% |
| Other operating charges | 640/8 | €2,813 | €3,916 | +€1,103 | +39.2% |
| Gross operating margin | 9900 | €51,651 | €118,438 | +€66,787 | +129% |
| Operating profit (loss) | 9901 | €38,548 | €106,064 | +€67,516 | +175% |
| Financial income | 75/76B | €641 | €2,873 | +€2,232 | +348% |
| Recurring financial income | 75 | €641 | €2,873 | +€2,232 | +348% |
| Financial charges | 65/66B | €6,951 | €12,067 | +€5,115 | +73.6% |
| Recurring financial charges | 65 | €6,951 | €12,067 | +€5,115 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | €32,238 | €96,871 | +€64,633 | +200% |
| Income taxes | 67/77 | €8,809 | €31,779 | +€22,970 | +261% |
| Profit (loss) for the period | 9904 | €23,428 | €65,092 | +€41,663 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €23,428 | €65,092 | +€41,663 | +178% |
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 31 October 2026 via checked.be.