SDG TRANS: 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.
SDG TRANS
Largest movements
- Tangible fixed assets +€69,164
up €69,164 (+6.4%), from €1.1m to €1.1m
of which Furniture and vehicles: +€59,304
- Current investments -€49,501
down €49,501 (-40.9%), from €120,950 to €71,449
- Receivables within one year +€36,567
up €36,567 (+4.4%), from €824,791 to €861,358
of which Trade receivables: +€31,154
- Cash +€31,145
up €31,145 (+166.5%), from €18,707 to €49,852
mainly Depreciation (+€184,986) and Net result for the year (+€93,628)
- Current portion of long-term debt +€55,792
up €55,792 (+28.8%), from €193,631 to €249,423
- Reserves +€54,147
up €54,147 (+7.8%), from €695,675 to €749,822
of which Distributable reserves: +€59,722
- Debts after one year -€40,730
down €40,730 (-6.0%), from €679,795 to €639,065
- Staff costs +€126,798
up €126,798 (+28.7%), from €442,567 to €569,365
- Gross operating margin +€121,904
up €121,904 (+15.0%), from €813,411 to €935,315
- Depreciation +€22,580
up €22,580 (+13.9%), from €162,406 to €184,986
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 | €2,067,500 | €2,168,744 | +€101,244 | +4.9% |
| Fixed assets | 21/28 | €1,077,473 | €1,146,637 | +€69,164 | +6.4% |
| Tangible fixed assets | 22/27 | €1,077,473 | €1,146,637 | +€69,164 | +6.4% |
| Land and buildings | 22 | €573,179 | €586,429 | +€13,250 | +2.3% |
| Plant, machinery and equipment | 23 | €15,235 | €11,845 | -€3,390 | -22.3% |
| Furniture and vehicles | 24 | €489,059 | €548,363 | +€59,304 | +12.1% |
| Current assets | 29/58 | €990,027 | €1,022,107 | +€32,080 | +3.2% |
| Amounts receivable within one year | 40/41 | €824,791 | €861,358 | +€36,567 | +4.4% |
| Trade receivables | 40 | €790,691 | €821,845 | +€31,154 | +3.9% |
| Other amounts receivable | 41 | €34,100 | €39,513 | +€5,413 | +15.9% |
| Current investments | 50/53 | €120,950 | €71,449 | -€49,501 | -40.9% |
| Cash at bank and in hand | 54/58 | €18,707 | €49,852 | +€31,145 | +166.5% |
| Deferred charges and accrued income | 490/1 | €25,579 | €39,448 | +€13,869 | +54.2% |
| Total equity and liabilities | 10/49 | €2,067,500 | €2,168,744 | +€101,244 | +4.9% |
| Equity | 10/15 | €714,275 | €768,422 | +€54,147 | +7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €695,675 | €749,822 | +€54,147 | +7.8% |
| Tax-exempt reserves | 132 | €10,700 | €5,125 | -€5,575 | -52.1% |
| Distributable reserves | 133 | €684,975 | €744,697 | +€59,722 | +8.7% |
| Amounts payable | 17/49 | €1,353,225 | €1,400,322 | +€47,097 | +3.5% |
| Amounts payable after more than one year | 17 | €679,795 | €639,065 | -€40,730 | -6.0% |
| Financial debts | 170/4 | €679,795 | €639,065 | -€40,730 | -6.0% |
| Amounts payable within one year | 42/48 | €673,430 | €758,906 | +€85,476 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €193,631 | €249,423 | +€55,792 | +28.8% |
| Trade debts | 44 | €398,445 | €406,274 | +€7,829 | +2.0% |
| Suppliers | 440/4 | €398,445 | €406,274 | +€7,829 | +2.0% |
| Taxes, remuneration and social security | 45 | €69,581 | €84,763 | +€15,182 | +21.8% |
| Taxes | 450/3 | €5,966 | - | -€5,966 | |
| Remuneration and social security | 454/9 | €63,615 | €84,763 | +€21,148 | +33.2% |
| Other amounts payable | 47/48 | €11,773 | €18,446 | +€6,673 | +56.7% |
| Accrued charges and deferred income | 492/3 | - | €2,351 | +€2,351 | |
| Non-recurring operating income | 76A | €13,305 | €29,003 | +€15,698 | +118.0% |
| Remuneration, social security and pensions | 62 | €442,567 | €569,365 | +€126,798 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,406 | €184,986 | +€22,580 | +13.9% |
| Other operating charges | 640/8 | €12,424 | €12,262 | -€162 | -1.3% |
| Non-recurring operating charges | 66A | €8,764 | - | -€8,764 | |
| Gross operating margin | 9900 | €813,411 | €935,315 | +€121,904 | +15.0% |
| Operating profit (loss) | 9901 | €187,250 | €168,702 | -€18,548 | -9.9% |
| Financial income | 75/76B | €919 | €917 | -€2 | -0.2% |
| Recurring financial income | 75 | €919 | €917 | -€2 | -0.2% |
| Financial charges | 65/66B | €28,129 | €32,229 | +€4,100 | +14.6% |
| Recurring financial charges | 65 | €28,129 | €32,229 | +€4,100 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €160,040 | €137,390 | -€22,650 | -14.2% |
| Income taxes | 67/77 | €51,518 | €43,762 | -€7,756 | -15.1% |
| Profit (loss) for the period | 9904 | €108,522 | €93,628 | -€14,894 | -13.7% |
| Transfer from tax-exempt reserves | 789 | €5,575 | €5,575 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,097 | €99,203 | -€14,894 | -13.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.