SDMC: 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.
SDMC
Largest movements
- Cash -€74,453
down €74,453 (-65.5%), from €113,725 to €39,272
mainly Contributions, distributions and other (-€87,526) and Debts after one year (-€12,116)
- Tangible fixed assets -€50,015
down €50,015 (-72.5%), from €69,023 to €19,008
of which Furniture and vehicles: -€51,492
- Deferred charges and accrued income +€12,010
new in 2025: €12,010
- Receivables within one year -€3,807
down €3,807 (-73.0%), from €5,213 to €1,407
of which Other amounts receivable: -€3,357
- Reserves -€99,926
down €99,926 (-98.2%), from €101,786 to €1,860
of which Distributable reserves: -€99,926
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Debts after one year -€12,116
down €12,116 (-38.0%), from €31,920 to €19,804
- Trade debts -€10,651
down €10,651 (-75.9%), from €14,040 to €3,389
- Profit (loss) carried forward -€6,582
down €6,582 (-628.2%), from -€1,048 to -€7,630
- Other operating charges +€41,987
up €41,987 (+16179.9%), from €260 to €42,246
- Gross operating margin +€16,820
up €16,820 (+67.0%), from €25,122 to €41,942
- Depreciation -€13,089
down €13,089 (-75.3%), from €17,385 to €4,296
- Taxes -€5,916
down €5,916 (-89.7%), from €6,593 to €677
- Financial charges -€627
down €627 (-32.5%), from €1,932 to €1,305
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 | €187,961 | €71,697 | -€116,264 | -61.9% |
| Fixed assets | 21/28 | €69,023 | €19,008 | -€50,015 | -72.5% |
| Tangible fixed assets | 22/27 | €69,023 | €19,008 | -€50,015 | -72.5% |
| Plant, machinery and equipment | 23 | €1,416 | €5,108 | +€3,692 | +260.7% |
| Furniture and vehicles | 24 | €53,727 | €2,236 | -€51,492 | -95.8% |
| Other tangible fixed assets | 26 | €13,880 | €11,665 | -€2,215 | -16.0% |
| Current assets | 29/58 | €118,938 | €52,688 | -€66,250 | -55.7% |
| Amounts receivable within one year | 40/41 | €5,213 | €1,407 | -€3,807 | -73.0% |
| Trade receivables | 40 | €450 | - | -€450 | |
| Other amounts receivable | 41 | €4,763 | €1,407 | -€3,357 | -70.5% |
| Cash at bank and in hand | 54/58 | €113,725 | €39,272 | -€74,453 | -65.5% |
| Deferred charges and accrued income | 490/1 | - | €12,010 | +€12,010 | |
| Total equity and liabilities | 10/49 | €187,961 | €71,697 | -€116,264 | -61.9% |
| Equity | 10/15 | €106,938 | €12,830 | -€94,108 | -88.0% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €101,786 | €1,860 | -€99,926 | -98.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €99,926 | - | -€99,926 | |
| Profit (loss) carried forward | 14 | -€1,048 | -€7,630 | -€6,582 | -628.2% |
| Amounts payable | 17/49 | €81,023 | €58,867 | -€22,156 | -27.3% |
| Amounts payable after more than one year | 17 | €31,920 | €19,804 | -€12,116 | -38.0% |
| Financial debts | 170/4 | €31,920 | €19,804 | -€12,116 | -38.0% |
| Amounts payable within one year | 42/48 | €47,375 | €37,335 | -€10,040 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €11,822 | €12,116 | +€294 | +2.5% |
| Trade debts | 44 | €14,040 | €3,389 | -€10,651 | -75.9% |
| Suppliers | 440/4 | €14,040 | €3,389 | -€10,651 | -75.9% |
| Taxes, remuneration and social security | 45 | €11,288 | €10,927 | -€361 | -3.2% |
| Taxes | 450/3 | €11,288 | €10,927 | -€361 | -3.2% |
| Other amounts payable | 47/48 | €10,225 | €10,903 | +€678 | +6.6% |
| Accrued charges and deferred income | 492/3 | €1,728 | €1,728 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,385 | €4,296 | -€13,089 | -75.3% |
| Other operating charges | 640/8 | €260 | €42,246 | +€41,987 | +16179.9% |
| Gross operating margin | 9900 | €25,122 | €41,942 | +€16,820 | +67.0% |
| Operating profit (loss) | 9901 | €7,478 | -€4,601 | -€12,078 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,932 | €1,305 | -€627 | -32.5% |
| Recurring financial charges | 65 | €1,932 | €1,305 | -€627 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €5,546 | -€5,905 | -€11,451 | |
| Income taxes | 67/77 | €6,593 | €677 | -€5,916 | -89.7% |
| Profit (loss) for the period | 9904 | -€1,048 | -€6,582 | -€5,535 | -528.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,048 | -€6,582 | -€5,535 | -528.2% |
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 2 October 2026 via checked.be.