SDC Accounting: what changed
SDC Accounting
Largest movements
- Intangible fixed assets +€55,802
new in 2025: €55,802
- Receivables within one year +€37,189
up €37,189 (+41.4%), from €89,822 to €127,011
of which Other amounts receivable: +€32,025
- Current investments -€36,716
down €36,716 (-93.1%), from €39,444 to €2,728
- Tangible fixed assets -€13,635
down €13,635 (-7.8%), from €175,775 to €162,140
of which Land and buildings: -€7,250
- Cash +€8,989
up €8,989 (+108%), from €8,338 to €17,327
mainly Current investments (+€36,716) and Debts after one year (+€28,374)
- Debts after one year +€28,374
up €28,374 (+20.0%), from €141,623 to €169,997
- Current portion of long-term debt +€12,131
up €12,131 (+109%), from €11,168 to €23,299
- Tax, wage and social debts +€10,826
up €10,826 (+46.7%), from €23,190 to €34,016
of which Remuneration and social security: +€6,700
- Staff costs +€48,669
up €48,669 (+249%), from €19,567 to €68,237
- Gross operating margin +€38,877
up €38,877 (+53.8%), from €72,284 to €111,161
- Financial income +€10,540
up €10,540 (+280%), from €3,763 to €14,303
- Depreciation +€7,463
up €7,463 (+49.0%), from €15,238 to €22,701
- Taxes -€2,960
down €2,960 (-27.5%), from €10,777 to €7,817
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 | €319,166 | €371,921 | +€52,755 | +16.5% |
| Fixed assets | 21/28 | €175,775 | €217,942 | +€42,167 | +24.0% |
| Intangible fixed assets | 21 | - | €55,802 | +€55,802 | |
| Tangible fixed assets | 22/27 | €175,775 | €162,140 | -€13,635 | -7.8% |
| Land and buildings | 22 | €129,190 | €121,939 | -€7,250 | -5.6% |
| Plant, machinery and equipment | 23 | €3,667 | €2,630 | -€1,037 | -28.3% |
| Furniture and vehicles | 24 | €29,916 | €26,185 | -€3,731 | -12.5% |
| Other tangible fixed assets | 26 | €13,002 | €11,386 | -€1,616 | -12.4% |
| Current assets | 29/58 | €143,391 | €153,979 | +€10,588 | +7.4% |
| Amounts receivable within one year | 40/41 | €89,822 | €127,011 | +€37,189 | +41.4% |
| Trade receivables | 40 | €10,615 | €15,779 | +€5,164 | +48.7% |
| Other amounts receivable | 41 | €79,207 | €111,232 | +€32,025 | +40.4% |
| Current investments | 50/53 | €39,444 | €2,728 | -€36,716 | -93.1% |
| Cash at bank and in hand | 54/58 | €8,338 | €17,327 | +€8,989 | +108% |
| Deferred charges and accrued income | 490/1 | €5,787 | €6,914 | +€1,126 | +19.5% |
| Total equity and liabilities | 10/49 | €319,166 | €371,921 | +€52,755 | +16.5% |
| Equity | 10/15 | €139,528 | €141,013 | +€1,485 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,068 | €120,553 | +€1,485 | +1.2% |
| Amounts payable | 17/49 | €179,638 | €230,908 | +€51,270 | +28.5% |
| Amounts payable after more than one year | 17 | €141,623 | €169,997 | +€28,374 | +20.0% |
| Financial debts | 170/4 | €141,623 | €169,997 | +€28,374 | +20.0% |
| Amounts payable within one year | 42/48 | €38,015 | €60,911 | +€22,896 | +60.2% |
| Current portion of amounts payable after more than one year | 42 | €11,168 | €23,299 | +€12,131 | +109% |
| Financial debts | 43 | €1,247 | €1,239 | -€8 | -0.6% |
| Credit institutions | 430/8 | €1,247 | €1,239 | -€8 | -0.6% |
| Trade debts | 44 | €2,411 | €2,357 | -€54 | -2.2% |
| Suppliers | 440/4 | €2,411 | €2,357 | -€54 | -2.2% |
| Taxes, remuneration and social security | 45 | €23,190 | €34,016 | +€10,826 | +46.7% |
| Taxes | 450/3 | €18,830 | €22,957 | +€4,127 | +21.9% |
| Remuneration and social security | 454/9 | €4,359 | €11,059 | +€6,700 | +154% |
| Remuneration, social security and pensions | 62 | €19,567 | €68,237 | +€48,669 | +249% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,238 | €22,701 | +€7,463 | +49.0% |
| Other operating charges | 640/8 | €2,643 | €2,539 | -€104 | -3.9% |
| Gross operating margin | 9900 | €72,284 | €111,161 | +€38,877 | +53.8% |
| Operating profit (loss) | 9901 | €34,835 | €17,685 | -€17,151 | -49.2% |
| Financial income | 75/76B | €3,763 | €14,303 | +€10,540 | +280% |
| Recurring financial income | 75 | €3,763 | €14,303 | +€10,540 | +280% |
| Financial charges | 65/66B | €5,449 | €7,685 | +€2,236 | +41.0% |
| Recurring financial charges | 65 | €5,449 | €7,685 | +€2,236 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €33,149 | €24,302 | -€8,847 | -26.7% |
| Income taxes | 67/77 | €10,777 | €7,817 | -€2,960 | -27.5% |
| Profit (loss) for the period | 9904 | €22,372 | €16,485 | -€5,887 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,372 | €16,485 | -€5,887 | -26.3% |
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 2 November 2026 via checked.be.