SDK PROJECTS: 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.
SDK PROJECTS
Largest movements
- Cash +€35,546
up €35,546 (+44.9%), from €79,224 to €114,770
mainly Net result for the year (+€102,523) and Receivables within one year (+€21,702)
- Receivables within one year -€21,702
down €21,702 (-49.6%), from €43,720 to €22,018
of which Trade receivables: -€23,150
- Current investments +€12,017
new in 2025: €12,017
- Deferred charges and accrued income +€2,079
new in 2025: €2,079
- Reserves +€27,523
up €27,523 (+24.8%), from €110,837 to €138,360
of which Distributable reserves: +€27,523
- Gross operating margin +€9,817
up €9,817 (+7.9%), from €123,853 to €133,670
- Depreciation -€1,868
down €1,868 (-50.9%), from €3,668 to €1,800
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 | €125,548 | €154,377 | +€28,830 | +23.0% |
| Fixed assets | 21/28 | €2,604 | €3,493 | +€890 | +34.2% |
| Tangible fixed assets | 22/27 | €2,604 | €3,493 | +€890 | +34.2% |
| Furniture and vehicles | 24 | €2,604 | €3,493 | +€890 | +34.2% |
| Current assets | 29/58 | €122,944 | €150,884 | +€27,940 | +22.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €43,720 | €22,018 | -€21,702 | -49.6% |
| Trade receivables | 40 | €43,720 | €20,570 | -€23,150 | -53.0% |
| Other amounts receivable | 41 | - | €1,448 | +€1,448 | |
| Current investments | 50/53 | - | €12,017 | +€12,017 | |
| Cash at bank and in hand | 54/58 | €79,224 | €114,770 | +€35,546 | +44.9% |
| Deferred charges and accrued income | 490/1 | - | €2,079 | +€2,079 | |
| Total equity and liabilities | 10/49 | €125,548 | €154,377 | +€28,830 | +23.0% |
| Equity | 10/15 | €111,837 | €139,360 | +€27,523 | +24.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €110,837 | €138,360 | +€27,523 | +24.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €110,837 | €138,360 | +€27,523 | +24.8% |
| Amounts payable | 17/49 | €13,711 | €15,018 | +€1,307 | +9.5% |
| Amounts payable within one year | 42/48 | €13,543 | €14,850 | +€1,307 | +9.7% |
| Trade debts | 44 | €344 | €793 | +€450 | +131% |
| Suppliers | 440/4 | €344 | €793 | +€450 | +131% |
| Taxes, remuneration and social security | 45 | €9,871 | €10,661 | +€789 | +8.0% |
| Taxes | 450/3 | €9,871 | €10,661 | +€789 | +8.0% |
| Other amounts payable | 47/48 | €3,327 | €3,396 | +€68 | +2.0% |
| Accrued charges and deferred income | 492/3 | €168 | €168 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,668 | €1,800 | -€1,868 | -50.9% |
| Other operating charges | 640/8 | €259 | €226 | -€34 | -12.9% |
| Gross operating margin | 9900 | €123,853 | €133,670 | +€9,817 | +7.9% |
| Operating profit (loss) | 9901 | €119,926 | €131,644 | +€11,718 | +9.8% |
| Financial income | 75/76B | €0 | €22 | +€22 | +221,000% |
| Recurring financial income | 75 | €0 | €22 | +€22 | +221,000% |
| Financial charges | 65/66B | €158 | €135 | -€23 | -14.8% |
| Recurring financial charges | 65 | €158 | €135 | -€23 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €119,767 | €131,531 | +€11,764 | +9.8% |
| Income taxes | 67/77 | €30,230 | €29,009 | -€1,222 | -4.0% |
| Profit (loss) for the period | 9904 | €89,537 | €102,523 | +€12,985 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,537 | €102,523 | +€12,985 | +14.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.