SDC CONCEPT: 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 CONCEPT
Largest movements
- Receivables within one year +€88,099
up €88,099 (+73.6%), from €119,770 to €207,869
of which Other amounts receivable: +€100,179
- Cash +€30,772
up €30,772 (+243%), from €12,687 to €43,460
mainly Net result for the year (+€134,324) and Depreciation (+€83,522)
- Tangible fixed assets +€27,132
up €27,132 (+4.8%), from €570,912 to €598,044
of which Land and buildings: +€44,597
- Reserves +€134,324
up €134,324 (+26.5%), from €507,822 to €642,146
of which Distributable reserves: +€134,324
- Other debts -€57,906
down €57,906 (-98.7%), from €58,661 to €755
- Debts after one year +€56,682
up €56,682 (+15.4%), from €368,828 to €425,510
- Current portion of long-term debt +€16,444
up €16,444 (+21.5%), from €76,656 to €93,100
- Financial income -€39,919
down €39,919 (-22.8%), from €175,000 to €135,081
- Gross operating margin +€18,046
up €18,046 (+19.0%), from €95,012 to €113,058
- Financial charges -€5,331
down €5,331 (-33.6%), from €15,876 to €10,545
- Taxes +€1,581
up €1,581 (+10.1%), from €15,669 to €17,250
- Depreciation +€1,309
up €1,309 (+1.6%), from €82,214 to €83,522
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 | €1,087,170 | €1,234,199 | +€147,029 | +13.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €945,912 | €973,044 | +€27,132 | +2.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €570,912 | €598,044 | +€27,132 | +4.8% |
| Land and buildings | 22 | €505,884 | €550,481 | +€44,597 | +8.8% |
| Plant, machinery and equipment | 23 | €12,478 | €11,620 | -€858 | -6.9% |
| Furniture and vehicles | 24 | €52,551 | €35,944 | -€16,607 | -31.6% |
| Financial fixed assets | 28 | €375,000 | €375,000 | = | 0.0% |
| Current assets | 29/58 | €141,258 | €261,155 | +€119,897 | +84.9% |
| Amounts receivable within one year | 40/41 | €119,770 | €207,869 | +€88,099 | +73.6% |
| Trade receivables | 40 | €119,770 | €107,690 | -€12,080 | -10.1% |
| Other amounts receivable | 41 | - | €100,179 | +€100,179 | |
| Cash at bank and in hand | 54/58 | €12,687 | €43,460 | +€30,772 | +243% |
| Deferred charges and accrued income | 490/1 | €8,800 | €9,826 | +€1,026 | +11.7% |
| Total equity and liabilities | 10/49 | €1,087,170 | €1,234,199 | +€147,029 | +13.5% |
| Equity | 10/15 | €570,272 | €704,596 | +€134,324 | +23.6% |
| Contributions | 10/11 | €62,450 | €62,450 | = | 0.0% |
| Reserves | 13 | €507,822 | €642,146 | +€134,324 | +26.5% |
| Non-distributable reserves | 130/1 | €7,485 | €7,485 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,485 | €7,485 | = | 0.0% |
| Distributable reserves | 133 | €500,337 | €634,661 | +€134,324 | +26.8% |
| Amounts payable | 17/49 | €516,898 | €529,603 | +€12,705 | +2.5% |
| Amounts payable after more than one year | 17 | €368,828 | €425,510 | +€56,682 | +15.4% |
| Financial debts | 170/4 | €368,828 | €425,510 | +€56,682 | +15.4% |
| Amounts payable within one year | 42/48 | €144,556 | €104,093 | -€40,464 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €76,656 | €93,100 | +€16,444 | +21.5% |
| Trade debts | 44 | €250 | €182 | -€68 | -27.2% |
| Suppliers | 440/4 | €250 | €182 | -€68 | -27.2% |
| Taxes, remuneration and social security | 45 | €8,989 | €10,056 | +€1,066 | +11.9% |
| Taxes | 450/3 | €8,989 | €10,056 | +€1,066 | +11.9% |
| Other amounts payable | 47/48 | €58,661 | €755 | -€57,906 | -98.7% |
| Accrued charges and deferred income | 492/3 | €3,513 | - | -€3,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,214 | €83,522 | +€1,309 | +1.6% |
| Other operating charges | 640/8 | €1,864 | €2,498 | +€634 | +34.0% |
| Gross operating margin | 9900 | €95,012 | €113,058 | +€18,046 | +19.0% |
| Operating profit (loss) | 9901 | €10,934 | €27,038 | +€16,103 | +147% |
| Financial income | 75/76B | €175,000 | €135,081 | -€39,919 | -22.8% |
| Recurring financial income | 75 | €175,000 | €135,081 | -€39,919 | -22.8% |
| Financial charges | 65/66B | €15,876 | €10,545 | -€5,331 | -33.6% |
| Recurring financial charges | 65 | €15,876 | €10,545 | -€5,331 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €170,059 | €151,574 | -€18,485 | -10.9% |
| Income taxes | 67/77 | €15,669 | €17,250 | +€1,581 | +10.1% |
| Profit (loss) for the period | 9904 | €154,390 | €134,324 | -€20,066 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €154,390 | €134,324 | -€20,066 | -13.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.