SDG CONSULTING: 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.
SDG CONSULTING
Largest movements
- Cash +€123,852
up €123,852 (+52.8%), from €234,758 to €358,610
mainly Other debts (+€210,896) and Net result for the year (+€95,725)
- Receivables after one year -€87,270
no longer reported in 2025 (was €87,270)
- Current investments +€38,084
up €38,084 (+155%), from €24,619 to €62,703
- Tangible fixed assets -€9,669
down €9,669 (-3.0%), from €324,665 to €314,996
of which Land and buildings: -€10,193
- Other debts +€210,896
up €210,896 (+51,317%), from €411 to €211,307
- Reserves -€143,380
down €143,380 (-23.4%), from €613,440 to €470,060
of which Distributable reserves: -€132,520
- Gross operating margin +€15,026
up €15,026 (+12.2%), from €122,822 to €137,849
- Taxes +€7,207
up €7,207 (+22.2%), from €32,400 to €39,607
- Financial income +€5,686
up €5,686 (+92.5%), from €6,149 to €11,835
- Financial charges -€2,226
down €2,226 (-77.5%), from €2,872 to €647
- Depreciation -€1,919
down €1,919 (-13.6%), from €14,157 to €12,237
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 | €694,799 | €762,137 | +€67,339 | +9.7% |
| Fixed assets | 21/28 | €325,465 | €314,996 | -€10,469 | -3.2% |
| Intangible fixed assets | 21 | €800 | - | -€800 | |
| Tangible fixed assets | 22/27 | €324,665 | €314,996 | -€9,669 | -3.0% |
| Land and buildings | 22 | €320,060 | €309,866 | -€10,193 | -3.2% |
| Plant, machinery and equipment | 23 | €24 | €1,592 | +€1,568 | +6,583% |
| Furniture and vehicles | 24 | €612 | €260 | -€352 | -57.5% |
| Other tangible fixed assets | 26 | €3,970 | €3,277 | -€692 | -17.4% |
| Current assets | 29/58 | €369,334 | €447,142 | +€77,808 | +21.1% |
| Amounts receivable after more than one year | 29 | €87,270 | - | -€87,270 | |
| Other amounts receivable | 291 | €87,270 | - | -€87,270 | |
| Amounts receivable within one year | 40/41 | €22,687 | €24,645 | +€1,959 | +8.6% |
| Trade receivables | 40 | €22,687 | €24,645 | +€1,959 | +8.6% |
| Current investments | 50/53 | €24,619 | €62,703 | +€38,084 | +155% |
| Cash at bank and in hand | 54/58 | €234,758 | €358,610 | +€123,852 | +52.8% |
| Deferred charges and accrued income | 490/1 | - | €1,184 | +€1,184 | |
| Total equity and liabilities | 10/49 | €694,799 | €762,137 | +€67,339 | +9.7% |
| Equity | 10/15 | €667,088 | €522,863 | -€144,225 | -21.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €613,440 | €470,060 | -€143,380 | -23.4% |
| Non-distributable reserves | 130/1 | €10,860 | - | -€10,860 | |
| Reserves not available under the articles | 1311 | €10,860 | - | -€10,860 | |
| Distributable reserves | 133 | €602,580 | €470,060 | -€132,520 | -22.0% |
| Profit (loss) carried forward | 14 | €35,048 | €34,203 | -€845 | -2.4% |
| Amounts payable | 17/49 | €27,711 | €239,274 | +€211,563 | +763% |
| Amounts payable within one year | 42/48 | €27,711 | €239,274 | +€211,563 | +763% |
| Trade debts | 44 | €4,310 | - | -€4,310 | |
| Suppliers | 440/4 | €4,310 | - | -€4,310 | |
| Taxes, remuneration and social security | 45 | €22,990 | €27,967 | +€4,977 | +21.7% |
| Taxes | 450/3 | €22,990 | €27,967 | +€4,977 | +21.7% |
| Other amounts payable | 47/48 | €411 | €211,307 | +€210,896 | +51,317% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,157 | €12,237 | -€1,919 | -13.6% |
| Other operating charges | 640/8 | €1,373 | €1,466 | +€93 | +6.8% |
| Gross operating margin | 9900 | €122,822 | €137,849 | +€15,026 | +12.2% |
| Operating profit (loss) | 9901 | €107,292 | €124,145 | +€16,852 | +15.7% |
| Financial income | 75/76B | €6,149 | €11,835 | +€5,686 | +92.5% |
| Recurring financial income | 75 | €6,149 | €11,835 | +€5,686 | +92.5% |
| Financial charges | 65/66B | €2,872 | €647 | -€2,226 | -77.5% |
| Recurring financial charges | 65 | €2,872 | €647 | -€2,226 | -77.5% |
| Profit (loss) for the period before taxes | 9903 | €110,569 | €135,333 | +€24,764 | +22.4% |
| Income taxes | 67/77 | €32,400 | €39,607 | +€7,207 | +22.2% |
| Profit (loss) for the period | 9904 | €78,169 | €95,725 | +€17,556 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,169 | €95,725 | +€17,556 | +22.5% |
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 20 October 2026 via checked.be.