SDL Management: 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.
SDL Management
Largest movements
- Cash +€148,849
up €148,849 (+285%), from €52,285 to €201,133
mainly Net result for the year (+€203,836) and Tax, wage and social debts (+€22,517)
- Current investments +€75,000
up €75,000 (+37.5%), from €200,010 to €275,010
- Profit (loss) carried forward +€203,836
up €203,836 (+109%), from €187,354 to €391,190
- Tax, wage and social debts +€22,517
up €22,517 (+30.3%), from €74,358 to €96,875
- Gross operating margin +€23,220
up €23,220 (+9.3%), from €248,806 to €272,026
- Taxes +€5,704
up €5,704 (+10.1%), from €56,438 to €62,142
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 | €264,475 | €490,828 | +€226,353 | +85.6% |
| Fixed assets | 21/28 | €4,224 | €3,284 | -€940 | -22.3% |
| Tangible fixed assets | 22/27 | €4,224 | €3,284 | -€940 | -22.3% |
| Land and buildings | 22 | €2,947 | €2,645 | -€302 | -10.2% |
| Plant, machinery and equipment | 23 | €1,276 | €638 | -€638 | -50.0% |
| Current assets | 29/58 | €260,251 | €487,544 | +€227,293 | +87.3% |
| Amounts receivable within one year | 40/41 | €2,049 | €6,100 | +€4,051 | +198% |
| Trade receivables | 40 | €1,593 | - | -€1,593 | |
| Other amounts receivable | 41 | €456 | €6,100 | +€5,644 | +1,238% |
| Current investments | 50/53 | €200,010 | €275,010 | +€75,000 | +37.5% |
| Cash at bank and in hand | 54/58 | €52,285 | €201,133 | +€148,849 | +285% |
| Deferred charges and accrued income | 490/1 | €5,908 | €5,301 | -€607 | -10.3% |
| Total equity and liabilities | 10/49 | €264,475 | €490,828 | +€226,353 | +85.6% |
| Equity | 10/15 | €189,854 | €393,690 | +€203,836 | +107% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,354 | €391,190 | +€203,836 | +109% |
| Amounts payable | 17/49 | €74,620 | €97,138 | +€22,518 | +30.2% |
| Amounts payable within one year | 42/48 | €74,620 | €97,138 | +€22,518 | +30.2% |
| Trade debts | 44 | €262 | €263 | +€1 | +0.2% |
| Suppliers | 440/4 | €262 | €263 | +€1 | +0.2% |
| Taxes, remuneration and social security | 45 | €74,358 | €96,875 | +€22,517 | +30.3% |
| Taxes | 450/3 | €74,358 | €96,875 | +€22,517 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €711 | €940 | +€229 | +32.3% |
| Other operating charges | 640/8 | €4 | €120 | +€116 | +2,579% |
| Gross operating margin | 9900 | €248,806 | €272,026 | +€23,220 | +9.3% |
| Operating profit (loss) | 9901 | €248,091 | €270,966 | +€22,875 | +9.2% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €4,313 | €4,988 | +€675 | +15.7% |
| Recurring financial charges | 65 | €4,313 | €4,988 | +€675 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €243,792 | €265,978 | +€22,185 | +9.1% |
| Income taxes | 67/77 | €56,438 | €62,142 | +€5,704 | +10.1% |
| Profit (loss) for the period | 9904 | €187,354 | €203,836 | +€16,481 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €187,354 | €203,836 | +€16,481 | +8.8% |
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 15 October 2026 via checked.be.