SDE CONSULT: 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.
SDE CONSULT
Largest movements
- Cash +€30,379
up €30,379 (+57.2%), from €53,079 to €83,458
mainly Net result for the year (+€30,652) and Receivables within one year (+€13,571)
- Receivables within one year -€13,571
down €13,571 (-13.0%), from €104,652 to €91,081
of which Trade receivables: -€14,123
- Tangible fixed assets -€6,487
down €6,487 (-48.8%), from €13,291 to €6,805
of which Furniture and vehicles: -€6,215
- Reserves +€29,821
up €29,821 (+24.7%), from €120,615 to €150,436
- Tax, wage and social debts -€17,189
down €17,189 (-54.1%), from €31,785 to €14,596
- Debts after one year -€5,272
down €5,272 (-62.5%), from €8,442 to €3,170
- Other debts +€2,272
new in 2025: €2,272
- Gross operating margin -€12,748
down €12,748 (-20.7%), from €61,440 to €48,692
- Taxes -€4,614
down €4,614 (-30.4%), from €15,186 to €10,572
- Other operating charges -€3,118
down €3,118 (-87.7%), from €3,555 to €437
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 | €171,176 | €181,344 | +€10,169 | +5.9% |
| Fixed assets | 21/28 | €13,291 | €6,805 | -€6,487 | -48.8% |
| Tangible fixed assets | 22/27 | €13,291 | €6,805 | -€6,487 | -48.8% |
| Plant, machinery and equipment | 23 | €582 | €310 | -€272 | -46.8% |
| Furniture and vehicles | 24 | €12,710 | €6,495 | -€6,215 | -48.9% |
| Current assets | 29/58 | €157,884 | €174,540 | +€16,655 | +10.5% |
| Amounts receivable within one year | 40/41 | €104,652 | €91,081 | -€13,571 | -13.0% |
| Trade receivables | 40 | €104,584 | €90,461 | -€14,123 | -13.5% |
| Other amounts receivable | 41 | €68 | €620 | +€552 | +808.5% |
| Cash at bank and in hand | 54/58 | €53,079 | €83,458 | +€30,379 | +57.2% |
| Deferred charges and accrued income | 490/1 | €153 | - | -€153 | |
| Total equity and liabilities | 10/49 | €171,176 | €181,344 | +€10,169 | +5.9% |
| Equity | 10/15 | €125,617 | €155,436 | +€29,819 | +23.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,615 | €150,436 | +€29,821 | +24.7% |
| Distributable reserves | 133 | €120,615 | €150,436 | +€29,821 | +24.7% |
| Profit (loss) carried forward | 14 | €2 | - | -€2 | |
| Amounts payable | 17/49 | €45,558 | €25,908 | -€19,650 | -43.1% |
| Amounts payable after more than one year | 17 | €8,442 | €3,170 | -€5,272 | -62.5% |
| Financial debts | 170/4 | €8,442 | €3,170 | -€5,272 | -62.5% |
| Amounts payable within one year | 42/48 | €37,116 | €22,738 | -€14,378 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €5,074 | €5,272 | +€198 | +3.9% |
| Trade debts | 44 | €257 | €599 | +€341 | +132.8% |
| Suppliers | 440/4 | €257 | €599 | +€341 | +132.8% |
| Taxes, remuneration and social security | 45 | €31,785 | €14,596 | -€17,189 | -54.1% |
| Taxes | 450/3 | €31,785 | €14,596 | -€17,189 | -54.1% |
| Other amounts payable | 47/48 | - | €2,272 | +€2,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,171 | €6,487 | +€316 | +5.1% |
| Other operating charges | 640/8 | €3,555 | €437 | -€3,118 | -87.7% |
| Gross operating margin | 9900 | €61,440 | €48,692 | -€12,748 | -20.7% |
| Operating profit (loss) | 9901 | €51,715 | €41,768 | -€9,946 | -19.2% |
| Financial charges | 65/66B | €667 | €545 | -€123 | -18.4% |
| Recurring financial charges | 65 | €667 | €545 | -€123 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €51,047 | €41,223 | -€9,824 | -19.2% |
| Income taxes | 67/77 | €15,186 | €10,572 | -€4,614 | -30.4% |
| Profit (loss) for the period | 9904 | €35,861 | €30,652 | -€5,209 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,861 | €30,652 | -€5,209 | -14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.