SDM CONSULTING & DEVELOPMENT: 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.
SDM CONSULTING & DEVELOPMENT
Largest movements
- Cash +€173,784
up €173,784 (+359.6%), from €48,321 to €222,105
mainly Receivables within one year (+€169,608) and Other debts (+€155,013)
- Receivables within one year -€169,608
down €169,608 (-75.5%), from €224,687 to €55,079
of which Other amounts receivable: -€179,995
- Financial fixed assets +€64,800
up €64,800 (+25.4%), from €255,250 to €320,050
- Other debts +€155,013
up €155,013 (+70.0%), from €221,485 to €376,498
- Reserves -€90,753
down €90,753 (-44.4%), from €204,597 to €113,844
of which Distributable reserves: -€90,753
- Debts after one year +€29,839
new in 2025: €29,839
- Tax, wage and social debts -€24,294
down €24,294 (-40.0%), from €60,782 to €36,488
- Gross operating margin -€5,670
down €5,670 (-3.5%), from €160,447 to €154,777
- Financial income +€5,516
new in 2025: €5,516
- Taxes -€4,261
down €4,261 (-11.3%), from €37,872 to €33,611
- Financial charges -€2,509
down €2,509 (-25.4%), from €9,866 to €7,357
- Depreciation -€2,263
down €2,263 (-81.5%), from €2,778 to €515
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 | €528,773 | €597,234 | +€68,461 | +12.9% |
| Fixed assets | 21/28 | €255,765 | €320,050 | +€64,285 | +25.1% |
| Tangible fixed assets | 22/27 | €515 | - | -€515 | |
| Furniture and vehicles | 24 | €515 | - | -€515 | |
| Financial fixed assets | 28 | €255,250 | €320,050 | +€64,800 | +25.4% |
| Current assets | 29/58 | €273,008 | €277,184 | +€4,176 | +1.5% |
| Amounts receivable within one year | 40/41 | €224,687 | €55,079 | -€169,608 | -75.5% |
| Trade receivables | 40 | €44,692 | €55,079 | +€10,387 | +23.2% |
| Other amounts receivable | 41 | €179,995 | - | -€179,995 | |
| Cash at bank and in hand | 54/58 | €48,321 | €222,105 | +€173,784 | +359.6% |
| Total equity and liabilities | 10/49 | €528,773 | €597,234 | +€68,461 | +12.9% |
| Equity | 10/15 | €224,597 | €133,844 | -€90,753 | -40.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €204,597 | €113,844 | -€90,753 | -44.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €202,597 | €111,844 | -€90,753 | -44.8% |
| Amounts payable | 17/49 | €304,176 | €463,390 | +€159,214 | +52.3% |
| Amounts payable after more than one year | 17 | - | €29,839 | +€29,839 | |
| Financial debts | 170/4 | - | €29,839 | +€29,839 | |
| Amounts payable within one year | 42/48 | €304,176 | €433,551 | +€129,375 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €20,168 | €16,202 | -€3,966 | -19.7% |
| Trade debts | 44 | €1,741 | €4,363 | +€2,622 | +150.6% |
| Suppliers | 440/4 | €1,741 | €4,363 | +€2,622 | +150.6% |
| Taxes, remuneration and social security | 45 | €60,782 | €36,488 | -€24,294 | -40.0% |
| Taxes | 450/3 | €60,782 | €36,488 | -€24,294 | -40.0% |
| Other amounts payable | 47/48 | €221,485 | €376,498 | +€155,013 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,778 | €515 | -€2,263 | -81.5% |
| Other operating charges | 640/8 | €4,102 | €4,185 | +€83 | +2.0% |
| Non-recurring operating charges | 66A | - | €3,378 | +€3,378 | |
| Gross operating margin | 9900 | €160,447 | €154,777 | -€5,670 | -3.5% |
| Operating profit (loss) | 9901 | €153,567 | €146,699 | -€6,868 | -4.5% |
| Financial income | 75/76B | - | €5,516 | +€5,516 | |
| Recurring financial income | 75 | - | €5,516 | +€5,516 | |
| Financial charges | 65/66B | €9,866 | €7,357 | -€2,509 | -25.4% |
| Recurring financial charges | 65 | €9,866 | €7,357 | -€2,509 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €143,701 | €144,858 | +€1,157 | +0.8% |
| Income taxes | 67/77 | €37,872 | €33,611 | -€4,261 | -11.3% |
| Profit (loss) for the period | 9904 | €105,829 | €111,247 | +€5,418 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,829 | €111,247 | +€5,418 | +5.1% |
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 8 October 2026 via checked.be.