SDLB Management: what changed
Two fiscal 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.
SDLB Management
Largest movements
- Cash +€160,712
up €160,712 (+167.5%), from €95,936 to €256,648
mainly Net result for the year (+€135,650) and Current investments (+€125,000)
- Current investments -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Receivables within one year -€38,347
down €38,347 (-26.7%), from €143,415 to €105,068
of which Other amounts receivable: -€39,250
- Intangible fixed assets -€31,538
down €31,538 (-40.2%), from €78,536 to €46,998
- Tangible fixed assets -€10,788
down €10,788 (-13.9%), from €77,604 to €66,817
of which Land and buildings: -€6,546
- Debts after one year -€84,965
down €84,965 (-44.4%), from €191,576 to €106,612
of which Financial debts: -€84,965
- Current portion of long-term debt +€43,455
up €43,455 (+104.7%), from €41,510 to €84,965
- Reserves -€17,400
down €17,400 (-8.7%), from €201,100 to €183,700
- Tax, wage and social debts +€11,558
up €11,558 (+50.4%), from €22,916 to €34,474
- Other debts +€6,400
up €6,400 (+14.7%), from €43,600 to €50,000
- Gross operating margin +€108,106
up €108,106 (+81.3%), from €132,908 to €241,015
- Financial income -€34,010
down €34,010 (-80.5%), from €42,244 to €8,234
- Taxes +€20,068
up €20,068 (+61.2%), from €32,779 to €52,847
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.
Cash bridge derived
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 | €527,153 | €482,270 | -€44,883 | -8.5% |
| Fixed assets | 21/28 | €160,745 | €118,419 | -€42,326 | -26.3% |
| Intangible fixed assets | 21 | €78,536 | €46,998 | -€31,538 | -40.2% |
| Tangible fixed assets | 22/27 | €77,604 | €66,817 | -€10,788 | -13.9% |
| Land and buildings | 22 | €64,798 | €58,252 | -€6,546 | -10.1% |
| Furniture and vehicles | 24 | €12,806 | €8,564 | -€4,242 | -33.1% |
| Financial fixed assets | 28 | €4,605 | €4,605 | = | 0.0% |
| Current assets | 29/58 | €366,408 | €363,851 | -€2,557 | -0.7% |
| Amounts receivable within one year | 40/41 | €143,415 | €105,068 | -€38,347 | -26.7% |
| Trade receivables | 40 | €20,775 | €21,678 | +€903 | +4.3% |
| Other amounts receivable | 41 | €122,640 | €83,389 | -€39,250 | -32.0% |
| Current investments | 50/53 | €125,000 | €0 | -€125,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €95,936 | €256,648 | +€160,712 | +167.5% |
| Deferred charges and accrued income | 490/1 | €2,057 | €2,135 | +€78 | +3.8% |
| Total equity and liabilities | 10/49 | €527,153 | €482,270 | -€44,883 | -8.5% |
| Equity | 10/15 | €220,912 | €201,562 | -€19,350 | -8.8% |
| Contributions | 10/11 | €14,340 | €14,340 | = | 0.0% |
| Reserves | 13 | €201,100 | €183,700 | -€17,400 | -8.7% |
| Distributable reserves | 133 | €201,100 | €183,700 | -€17,400 | -8.7% |
| Profit (loss) carried forward | 14 | €5,472 | €3,522 | -€1,950 | -35.6% |
| Amounts payable | 17/49 | €306,241 | €280,708 | -€25,533 | -8.3% |
| Amounts payable after more than one year | 17 | €191,576 | €106,612 | -€84,965 | -44.4% |
| Financial debts | 170/4 | €190,111 | €105,147 | -€84,965 | -44.7% |
| Other amounts payable | 178/9 | €1,465 | €1,465 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,661 | €169,732 | +€59,072 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | €41,510 | €84,965 | +€43,455 | +104.7% |
| Trade debts | 44 | €2,635 | €294 | -€2,341 | -88.9% |
| Suppliers | 440/4 | €2,635 | €294 | -€2,341 | -88.9% |
| Taxes, remuneration and social security | 45 | €22,916 | €34,474 | +€11,558 | +50.4% |
| Taxes | 450/3 | €22,916 | €34,474 | +€11,558 | +50.4% |
| Other amounts payable | 47/48 | €43,600 | €50,000 | +€6,400 | +14.7% |
| Accrued charges and deferred income | 492/3 | €4,004 | €4,364 | +€360 | +9.0% |
| Non-recurring operating income | 76A | €870 | €0 | -€870 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,789 | €45,054 | -€736 | -1.6% |
| Other operating charges | 640/8 | €6,196 | €6,404 | +€208 | +3.4% |
| Gross operating margin | 9900 | €132,908 | €241,015 | +€108,106 | +81.3% |
| Operating profit (loss) | 9901 | €80,923 | €189,556 | +€108,633 | +134.2% |
| Financial income | 75/76B | €42,244 | €8,234 | -€34,010 | -80.5% |
| Recurring financial income | 75 | €42,244 | €8,234 | -€34,010 | -80.5% |
| Financial charges | 65/66B | €11,683 | €9,292 | -€2,390 | -20.5% |
| Recurring financial charges | 65 | €11,683 | €9,292 | -€2,390 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €111,484 | €188,498 | +€77,013 | +69.1% |
| Income taxes | 67/77 | €32,779 | €52,847 | +€20,068 | +61.2% |
| Profit (loss) for the period | 9904 | €78,705 | €135,650 | +€56,946 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,705 | €135,650 | +€56,946 | +72.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.