SDL Invest: what changed
SDL Invest
Largest movements
- Stocks and contracts -€79,421
no longer reported in 2025 (was €79,421)
- Tangible fixed assets -€44,964
no longer reported in 2025 (was €44,964)
- Deferred charges and accrued income -€34,192
no longer reported in 2025 (was €34,192)
- Cash -€32,143
no longer reported in 2025 (was €32,143)
mainly Trade debts (-€203,148) and Debts after one year (-€30,000)
- Trade debts -€203,148
down €203,148 (-99.0%), from €205,257 to €2,110
- Profit (loss) carried forward +€105,713
up €105,713 (+85.4%), from -€123,723 to -€18,010
- Reserves -€41,427
no longer reported in 2025 (was €41,427)
- Debts after one year -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts -€18,763
no longer reported in 2025 (was €18,763)
of which Remuneration and social security: -€17,079
- Staff costs -€75,803
down €75,803 (-83.9%), from €90,306 to €14,503
- Gross operating margin +€59,543
up €59,543 (+89.9%), from €66,214 to €125,757
- Depreciation -€7,525
no longer reported in 2025 (was €7,525)
- Financial charges -€4,080
down €4,080 (-72.0%), from €5,668 to €1,588
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,449 | - | -€191,449 | |
| Fixed assets | 21/28 | €44,964 | - | -€44,964 | |
| Tangible fixed assets | 22/27 | €44,964 | - | -€44,964 | |
| Other tangible fixed assets | 26 | €44,964 | - | -€44,964 | |
| Current assets | 29/58 | €146,484 | - | -€146,484 | |
| Stocks and contracts in progress | 3 | €79,421 | - | -€79,421 | |
| Stocks | 30/36 | €79,421 | - | -€79,421 | |
| Amounts receivable within one year | 40/41 | €728 | - | -€728 | |
| Trade receivables | 40 | €728 | - | -€728 | |
| Cash at bank and in hand | 54/58 | €32,143 | - | -€32,143 | |
| Deferred charges and accrued income | 490/1 | €34,192 | - | -€34,192 | |
| Total equity and liabilities | 10/49 | €191,449 | €0 | -€191,449 | -100% |
| Equity | 10/15 | -€77,295 | -€13,010 | +€64,286 | +83.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,427 | - | -€41,427 | |
| Distributable reserves | 133 | €41,427 | - | -€41,427 | |
| Profit (loss) carried forward | 14 | -€123,723 | -€18,010 | +€105,713 | +85.4% |
| Amounts payable | 17/49 | €268,744 | €13,010 | -€255,735 | -95.2% |
| Amounts payable after more than one year | 17 | €30,000 | - | -€30,000 | |
| Financial debts | 170/4 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €224,970 | €13,010 | -€211,961 | -94.2% |
| Trade debts | 44 | €205,257 | €2,110 | -€203,148 | -99.0% |
| Suppliers | 440/4 | €205,257 | €2,110 | -€203,148 | -99.0% |
| Taxes, remuneration and social security | 45 | €18,763 | - | -€18,763 | |
| Taxes | 450/3 | €1,684 | - | -€1,684 | |
| Remuneration and social security | 454/9 | €17,079 | - | -€17,079 | |
| Other amounts payable | 47/48 | €950 | €10,900 | +€9,950 | +1,047% |
| Accrued charges and deferred income | 492/3 | €13,774 | - | -€13,774 | |
| Remuneration, social security and pensions | 62 | €90,306 | €14,503 | -€75,803 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,525 | - | -€7,525 | |
| Other operating charges | 640/8 | €387 | €415 | +€28 | +7.2% |
| Non-recurring operating charges | 66A | - | €44,964 | +€44,964 | |
| Gross operating margin | 9900 | €66,214 | €125,757 | +€59,543 | +89.9% |
| Operating profit (loss) | 9901 | -€32,005 | €65,874 | +€97,879 | |
| Financial charges | 65/66B | €5,668 | €1,588 | -€4,080 | -72.0% |
| Recurring financial charges | 65 | €5,668 | €1,588 | -€4,080 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | -€37,672 | €64,286 | +€101,958 | |
| Profit (loss) for the period | 9904 | -€37,672 | €64,286 | +€101,958 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,672 | €64,286 | +€101,958 |
Next steps
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 2 November 2026 via checked.be.