SDE PROJECTS: 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 PROJECTS
Largest movements
- Cash -€10,242
down €10,242 (-90.7%), from €11,291 to €1,048
mainly Tax, wage and social debts (-€12,071) and Receivables within one year (-€2,200)
- Receivables within one year +€2,200
up €2,200 (+3.6%), from €60,460 to €62,660
- Tax, wage and social debts -€12,071
down €12,071 (-31.2%), from €38,632 to €26,561
of which Taxes: -€9,071
- Profit (loss) carried forward +€2,148
up €2,148 (+26.7%), from €8,052 to €10,201
- Trade debts +€1,880
up €1,880 (+14.2%), from €13,199 to €15,080
- Gross operating margin -€39,915
down €39,915 (-81.2%), from €49,146 to €9,230
- Taxes -€8,601
down €8,601 (-66.2%), from €12,998 to €4,397
- Other operating charges -€3,237
down €3,237 (-70.3%), from €4,608 to €1,370
- Financial charges +€781
up €781 (+146.5%), from €533 to €1,315
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 | €71,751 | €63,708 | -€8,042 | -11.2% |
| Current assets | 29/58 | €71,751 | €63,708 | -€8,042 | -11.2% |
| Amounts receivable within one year | 40/41 | €60,460 | €62,660 | +€2,200 | +3.6% |
| Trade receivables | 40 | €60,460 | €62,660 | +€2,200 | +3.6% |
| Cash at bank and in hand | 54/58 | €11,291 | €1,048 | -€10,242 | -90.7% |
| Total equity and liabilities | 10/49 | €71,751 | €63,708 | -€8,042 | -11.2% |
| Equity | 10/15 | €9,552 | €11,701 | +€2,148 | +22.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,052 | €10,201 | +€2,148 | +26.7% |
| Amounts payable | 17/49 | €62,198 | €52,008 | -€10,191 | -16.4% |
| Amounts payable within one year | 42/48 | €62,198 | €52,008 | -€10,191 | -16.4% |
| Trade debts | 44 | €13,199 | €15,080 | +€1,880 | +14.2% |
| Suppliers | 440/4 | €13,199 | €15,080 | +€1,880 | +14.2% |
| Taxes, remuneration and social security | 45 | €38,632 | €26,561 | -€12,071 | -31.2% |
| Taxes | 450/3 | €25,729 | €16,658 | -€9,071 | -35.3% |
| Remuneration and social security | 454/9 | €12,903 | €9,903 | -€3,000 | -23.2% |
| Other amounts payable | 47/48 | €10,367 | €10,367 | = | 0.0% |
| Other operating charges | 640/8 | €4,608 | €1,370 | -€3,237 | -70.3% |
| Gross operating margin | 9900 | €49,146 | €9,230 | -€39,915 | -81.2% |
| Operating profit (loss) | 9901 | €44,538 | €7,860 | -€36,678 | -82.4% |
| Financial charges | 65/66B | €533 | €1,315 | +€781 | +146.5% |
| Recurring financial charges | 65 | €533 | €1,315 | +€781 | +146.5% |
| Profit (loss) for the period before taxes | 9903 | €44,005 | €6,545 | -€37,460 | -85.1% |
| Income taxes | 67/77 | €12,998 | €4,397 | -€8,601 | -66.2% |
| Profit (loss) for the period | 9904 | €31,007 | €2,148 | -€28,859 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,007 | €2,148 | -€28,859 | -93.1% |
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 8 October 2026 via checked.be.