SDHM: 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.
SDHM
Largest movements
- Cash +€121,081
up €121,081 (+23.9%), from €505,678 to €626,759
mainly Net result for the year (+€84,921) and Tax, wage and social debts (+€37,644)
- Reserves +€84,921
up €84,921 (+17.5%), from €485,459 to €570,380
- Tax, wage and social debts +€37,644
up €37,644 (+871%), from €4,324 to €41,968
- Gross operating margin +€16,184
up €16,184 (+14.8%), from €109,452 to €125,636
- Taxes +€7,309
up €7,309 (+24.5%), from €29,867 to €37,176
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 | €513,532 | €631,525 | +€117,992 | +23.0% |
| Fixed assets | 21/28 | €7,343 | €4,352 | -€2,991 | -40.7% |
| Tangible fixed assets | 22/27 | €7,343 | €4,352 | -€2,991 | -40.7% |
| Furniture and vehicles | 24 | €7,343 | €4,352 | -€2,991 | -40.7% |
| Current assets | 29/58 | €506,189 | €627,173 | +€120,984 | +23.9% |
| Amounts receivable within one year | 40/41 | €143 | €68 | -€75 | -52.6% |
| Other amounts receivable | 41 | €143 | €68 | -€75 | -52.6% |
| Cash at bank and in hand | 54/58 | €505,678 | €626,759 | +€121,081 | +23.9% |
| Deferred charges and accrued income | 490/1 | €368 | €346 | -€22 | -6.1% |
| Total equity and liabilities | 10/49 | €513,532 | €631,525 | +€117,992 | +23.0% |
| Equity | 10/15 | €504,009 | €588,930 | +€84,921 | +16.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €485,459 | €570,380 | +€84,921 | +17.5% |
| Distributable reserves | 133 | €485,459 | €570,380 | +€84,921 | +17.5% |
| Amounts payable | 17/49 | €9,523 | €42,594 | +€33,071 | +347% |
| Amounts payable within one year | 42/48 | €9,523 | €42,594 | +€33,071 | +347% |
| Trade debts | 44 | €67 | €69 | +€2 | +3.4% |
| Suppliers | 440/4 | €67 | €69 | +€2 | +3.4% |
| Taxes, remuneration and social security | 45 | €4,324 | €41,968 | +€37,644 | +871% |
| Taxes | 450/3 | €4,324 | €41,968 | +€37,644 | +871% |
| Other amounts payable | 47/48 | €5,132 | €558 | -€4,575 | -89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,652 | €2,991 | -€661 | -18.1% |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | €109,452 | €125,636 | +€16,184 | +14.8% |
| Operating profit (loss) | 9901 | €105,297 | €122,137 | +€16,840 | +16.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €40 | €41 | +€1 | +3.7% |
| Recurring financial charges | 65 | €40 | €41 | +€1 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €105,257 | €122,097 | +€16,839 | +16.0% |
| Income taxes | 67/77 | €29,867 | €37,176 | +€7,309 | +24.5% |
| Profit (loss) for the period | 9904 | €75,391 | €84,921 | +€9,530 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,391 | €84,921 | +€9,530 | +12.6% |
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 25 October 2026 via checked.be.