SDJ: 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.
SDJ
Largest movements
- Current investments -€252,000
down €252,000 (-70.8%), from €356,000 to €104,000
- Cash +€132,811
up €132,811 (+177%), from €75,191 to €208,002
mainly Net result for the year (+€261,803) and Current investments (+€252,000)
- Other debts -€400,000
down €400,000 (-25.1%), from €1.6m to €1.2m
- Reserves +€261,580
up €261,580 (+6.6%), from €4.0m to €4.2m
of which Distributable reserves: +€270,000
- Financial income +€112,202
up €112,202 (+1,825%), from €6,147 to €118,348
- Financial charges -€41,915
down €41,915 (-30.0%), from €139,746 to €97,831
- Taxes +€14,547
up €14,547 (+40.3%), from €36,112 to €50,659
- Gross operating margin +€9,043
up €9,043 (+3.2%), from €284,028 to €293,071
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 | €5,986,064 | €5,814,350 | -€171,715 | -2.9% |
| Fixed assets | 21/28 | €5,498,864 | €5,498,864 | = | 0.0% |
| Financial fixed assets | 28 | €5,498,864 | €5,498,864 | = | 0.0% |
| Current assets | 29/58 | €487,200 | €315,485 | -€171,715 | -35.2% |
| Amounts receivable within one year | 40/41 | €56,009 | €3,483 | -€52,525 | -93.8% |
| Other amounts receivable | 41 | €56,009 | €3,483 | -€52,525 | -93.8% |
| Current investments | 50/53 | €356,000 | €104,000 | -€252,000 | -70.8% |
| Cash at bank and in hand | 54/58 | €75,191 | €208,002 | +€132,811 | +177% |
| Total equity and liabilities | 10/49 | €5,986,064 | €5,814,350 | -€171,715 | -2.9% |
| Equity | 10/15 | €4,235,509 | €4,497,312 | +€261,803 | +6.2% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €3,960,110 | €4,221,690 | +€261,580 | +6.6% |
| Non-distributable reserves | 130/1 | €27,500 | €27,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €27,500 | €27,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,610 | €164,190 | -€8,420 | -4.9% |
| Distributable reserves | 133 | €3,760,000 | €4,030,000 | +€270,000 | +7.2% |
| Profit (loss) carried forward | 14 | €399 | €622 | +€223 | +55.8% |
| Amounts payable | 17/49 | €1,750,555 | €1,317,038 | -€433,517 | -24.8% |
| Amounts payable within one year | 42/48 | €1,611,035 | €1,219,374 | -€391,661 | -24.3% |
| Trade debts | 44 | €0 | €225 | +€225 | |
| Suppliers | 440/4 | €0 | €225 | +€225 | |
| Taxes, remuneration and social security | 45 | €14,928 | €23,042 | +€8,114 | +54.4% |
| Taxes | 450/3 | €14,928 | €23,042 | +€8,114 | +54.4% |
| Other amounts payable | 47/48 | €1,596,107 | €1,196,107 | -€400,000 | -25.1% |
| Accrued charges and deferred income | 492/3 | €139,521 | €97,664 | -€41,856 | -30.0% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | €284,028 | €293,071 | +€9,043 | +3.2% |
| Operating profit (loss) | 9901 | €282,935 | €291,945 | +€9,010 | +3.2% |
| Financial income | 75/76B | €6,147 | €118,348 | +€112,202 | +1,825% |
| Recurring financial income | 75 | €6,147 | €118,348 | +€112,202 | +1,825% |
| Financial charges | 65/66B | €139,746 | €97,831 | -€41,915 | -30.0% |
| Recurring financial charges | 65 | €139,746 | €97,831 | -€41,915 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €149,335 | €312,462 | +€163,127 | +109% |
| Income taxes | 67/77 | €36,112 | €50,659 | +€14,547 | +40.3% |
| Profit (loss) for the period | 9904 | €113,223 | €261,803 | +€148,579 | +131% |
| Transfer from tax-exempt reserves | 789 | €130,510 | €63,150 | -€67,360 | -51.6% |
| Transfer to tax-exempt reserves | 689 | €54,730 | €54,730 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €189,003 | €270,223 | +€81,219 | +43.0% |
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 18 October 2026 via checked.be.