SDMG: 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.
SDMG
Largest movements
- Cash +€333,446
up €333,446 (+286.6%), from €116,359 to €449,805
mainly Current investments (+€200,000) and Net result for the year (+€147,455)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Other debts +€147,400
new in 2025: €147,400
- Gross operating margin -€33,188
down €33,188 (-15.0%), from €221,830 to €188,643
- Other operating charges -€10,286
down €10,286 (-94.2%), from €10,917 to €631
- Taxes -€4,566
down €4,566 (-9.2%), from €49,396 to €44,829
- Financial income +€3,967
up €3,967 (+154.0%), from €2,576 to €6,543
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 | €411,554 | €553,333 | +€141,779 | +34.4% |
| Fixed assets | 21/28 | €2,447 | €3,963 | +€1,517 | +62.0% |
| Tangible fixed assets | 22/27 | €2,447 | €3,963 | +€1,517 | +62.0% |
| Plant, machinery and equipment | 23 | €1,854 | €2,050 | +€196 | +10.6% |
| Furniture and vehicles | 24 | €592 | €1,913 | +€1,321 | +222.9% |
| Current assets | 29/58 | €409,108 | €549,370 | +€140,262 | +34.3% |
| Amounts receivable after more than one year | 29 | €81,600 | €81,600 | = | 0.0% |
| Trade receivables | 290 | €81,600 | €81,600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,326 | €5,423 | +€4,097 | +308.9% |
| Trade receivables | 40 | €498 | €494 | -€4 | -0.8% |
| Other amounts receivable | 41 | €828 | €4,929 | +€4,101 | +495.0% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €116,359 | €449,805 | +€333,446 | +286.6% |
| Deferred charges and accrued income | 490/1 | €9,822 | €12,541 | +€2,719 | +27.7% |
| Total equity and liabilities | 10/49 | €411,554 | €553,333 | +€141,779 | +34.4% |
| Equity | 10/15 | €402,037 | €402,092 | +€55 | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €399,037 | €399,092 | +€55 | 0.0% |
| Amounts payable | 17/49 | €9,518 | €151,241 | +€141,724 | +1489.1% |
| Amounts payable within one year | 42/48 | €9,518 | €151,241 | +€141,724 | +1489.1% |
| Trade debts | 44 | €2,392 | €815 | -€1,577 | -65.9% |
| Suppliers | 440/4 | €2,392 | €815 | -€1,577 | -65.9% |
| Taxes, remuneration and social security | 45 | €7,126 | €3,026 | -€4,100 | -57.5% |
| Taxes | 450/3 | €4,778 | €678 | -€4,100 | -85.8% |
| Remuneration and social security | 454/9 | €2,348 | €2,348 | = | 0.0% |
| Other amounts payable | 47/48 | - | €147,400 | +€147,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,109 | €1,441 | +€333 | +30.0% |
| Other operating charges | 640/8 | €10,917 | €631 | -€10,286 | -94.2% |
| Gross operating margin | 9900 | €221,830 | €188,643 | -€33,188 | -15.0% |
| Operating profit (loss) | 9901 | €209,805 | €186,570 | -€23,234 | -11.1% |
| Financial income | 75/76B | €2,576 | €6,543 | +€3,967 | +154.0% |
| Recurring financial income | 75 | €2,576 | €6,543 | +€3,967 | +154.0% |
| Financial charges | 65/66B | €1,343 | €829 | -€513 | -38.2% |
| Recurring financial charges | 65 | €1,343 | €829 | -€513 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €211,038 | €192,284 | -€18,754 | -8.9% |
| Income taxes | 67/77 | €49,396 | €44,829 | -€4,566 | -9.2% |
| Profit (loss) for the period | 9904 | €161,642 | €147,455 | -€14,187 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €161,642 | €147,455 | -€14,187 | -8.8% |
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 28 September 2026 via checked.be.