SDL Finance: what changed
What changed
SDL Finance
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €767,735+€610,050
Equity
€50,000
2024 · €50,000
Cash
€140,827
2024 · €441,862-€301,035
Balance sheet total
€4.2m
2024 · €4.2m-€6,541
Largest movements
Assets
- Deferred charges and accrued income +€508,252
up €508,252 (+68.6%), from €741,002 to €1.2m
- Intangible fixed assets -€348,660
down €348,660 (-11.8%), from €3.0m to €2.6m
- Cash -€301,035
down €301,035 (-68.1%), from €441,862 to €140,827
mainly Contributions, distributions and other (-€1.4m) and Deferred charges and accrued income (-€508,252)
- Tangible fixed assets +€138,020
up €138,020 (+482%), from €28,642 to €166,662
Equity and liabilities
- Other debts +€560,250
up €560,250 (+68.5%), from €817,535 to €1.4m
- Debts after one year -€320,125
down €320,125 (-12.5%), from €2.6m to €2.2m
- Trade debts -€222,897
down €222,897 (-73.3%), from €304,061 to €81,164
Income statement
- Staff costs -€737,058
down €737,058 (-54.7%), from €1.3m to €609,604
- Gross operating margin -€359,211
down €359,211 (-12.6%), from €2.9m to €2.5m
- Depreciation -€135,874
down €135,874 (-25.8%), from €526,219 to €390,345
- Financial charges -€51,315
down €51,315 (-35.3%), from €145,175 to €93,860
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€767,735
Gross operating margin
-€359,211
Staff costs
+€737,058
Depreciation
+€135,874
Other operating charges
+€2,997
Other operating items
+€24,175
Financial income
+€1,992
Financial charges
+€51,315
Taxes
+€15,850
Result 2025
€1.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.6m
Investment
-€179,705
Financing
-€1.7m
Cash 2024
€441,862
From operations (derived)
+€1.6m
Net result for the year
+€1.4m
Depreciation
+€390,345
Smaller working-capital items
+€768
Deferred charges and accrued income
-€508,252
Trade debts
-€222,897
Tax, wage and social debts
-€27,283
Other debts
+€560,250
Investment (derived)
-€179,705
Investment in fixed assets (net)
-€179,705
Financing
-€1.7m
Debts after one year
-€320,125
Current portion of long-term debt
+€5,864
Contributions, distributions and other
-€1.4m
Cash 2025
€140,827
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,180,890 | €4,174,349 | -€6,541 | -0.2% |
| Fixed assets | 21/28 | €2,994,907 | €2,784,267 | -€210,640 | -7.0% |
| Intangible fixed assets | 21 | €2,962,177 | €2,613,517 | -€348,660 | -11.8% |
| Tangible fixed assets | 22/27 | €28,642 | €166,662 | +€138,020 | +482% |
| Furniture and vehicles | 24 | €28,642 | €166,662 | +€138,020 | +482% |
| Financial fixed assets | 28 | €4,088 | €4,088 | = | 0.0% |
| Current assets | 29/58 | €1,185,983 | €1,390,082 | +€204,099 | +17.2% |
| Amounts receivable within one year | 40/41 | €3,119 | €0 | -€3,119 | -100% |
| Trade receivables | 40 | €3,119 | €0 | -€3,119 | -100% |
| Cash at bank and in hand | 54/58 | €441,862 | €140,827 | -€301,035 | -68.1% |
| Deferred charges and accrued income | 490/1 | €741,002 | €1,249,255 | +€508,252 | +68.6% |
| Total equity and liabilities | 10/49 | €4,180,890 | €4,174,349 | -€6,541 | -0.2% |
| Equity | 10/15 | €50,000 | €50,000 | = | 0.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,130,890 | €4,124,349 | -€6,541 | -0.2% |
| Amounts payable after more than one year | 17 | €2,553,721 | €2,233,596 | -€320,125 | -12.5% |
| Financial debts | 170/4 | €2,553,721 | €2,233,596 | -€320,125 | -12.5% |
| Amounts payable within one year | 42/48 | €1,574,819 | €1,890,753 | +€315,935 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €314,261 | €320,125 | +€5,864 | +1.9% |
| Trade debts | 44 | €304,061 | €81,164 | -€222,897 | -73.3% |
| Suppliers | 440/4 | €304,061 | €81,164 | -€222,897 | -73.3% |
| Taxes, remuneration and social security | 45 | €138,962 | €111,679 | -€27,283 | -19.6% |
| Taxes | 450/3 | €33,017 | €49,640 | +€16,622 | +50.3% |
| Remuneration and social security | 454/9 | €105,944 | €62,039 | -€43,905 | -41.4% |
| Other amounts payable | 47/48 | €817,535 | €1,377,785 | +€560,250 | +68.5% |
| Accrued charges and deferred income | 492/3 | €2,351 | €0 | -€2,351 | -100% |
| Non-recurring operating income | 76A | - | €363 | +€363 | |
| Remuneration, social security and pensions | 62 | €1,346,662 | €609,604 | -€737,058 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €526,219 | €390,345 | -€135,874 | -25.8% |
| Other operating charges | 640/8 | €12,546 | €9,549 | -€2,997 | -23.9% |
| Non-recurring operating charges | 66A | €24,175 | €0 | -€24,175 | -100% |
| Gross operating margin | 9900 | €2,854,125 | €2,494,914 | -€359,211 | -12.6% |
| Operating profit (loss) | 9901 | €944,523 | €1,485,416 | +€540,893 | +57.3% |
| Financial income | 75/76B | €2,003 | €3,995 | +€1,992 | +99.5% |
| Recurring financial income | 75 | €2,003 | €3,995 | +€1,992 | +99.5% |
| Financial charges | 65/66B | €145,175 | €93,860 | -€51,315 | -35.3% |
| Recurring financial charges | 65 | €145,175 | €93,860 | -€51,315 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €801,351 | €1,395,552 | +€594,200 | +74.1% |
| Income taxes | 67/77 | €33,616 | €17,766 | -€15,850 | -47.1% |
| Profit (loss) for the period | 9904 | €767,735 | €1,377,785 | +€610,050 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €767,735 | €1,377,785 | +€610,050 | +79.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.