SDO Projects: 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.
SDO Projects
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward -€21,511
down €21,511 (-0.7%), from -€3.1m to -€3.2m
- Other debts +€20,873
up €20,873 (+0.6%), from €3.8m to €3.8m
- Gross operating margin +€67,934
up €67,934 (+96.4%), from -€70,500 to -€2,567
- Other operating charges +€17,026
up €17,026 (+1,654%), from €1,030 to €18,055
- Taxes -€4,289
down €4,289 (-100%), from €4,289 to €0
- Financial charges -€3,196
down €3,196 (-78.2%), from €4,085 to €889
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 | €788,694 | €788,541 | -€153 | 0.0% |
| Current assets | 29/58 | €788,694 | €788,541 | -€153 | 0.0% |
| Amounts receivable within one year | 40/41 | €787,933 | €788,468 | +€535 | +0.1% |
| Trade receivables | 40 | €787,454 | €787,454 | = | 0.0% |
| Other amounts receivable | 41 | €478 | €1,013 | +€535 | +112% |
| Cash at bank and in hand | 54/58 | €761 | €73 | -€688 | -90.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €788,694 | €788,541 | -€153 | 0.0% |
| Equity | 10/15 | -€3,093,684 | -€3,115,195 | -€21,511 | -0.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €465 | €465 | = | 0.0% |
| Non-distributable reserves | 130/1 | €465 | €465 | = | 0.0% |
| Reserves not available under the articles | 1311 | €465 | €465 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,144,150 | -€3,165,660 | -€21,511 | -0.7% |
| Amounts payable | 17/49 | €3,882,378 | €3,903,736 | +€21,358 | +0.6% |
| Amounts payable within one year | 42/48 | €3,882,378 | €3,903,736 | +€21,358 | +0.6% |
| Trade debts | 44 | €12,358 | €12,843 | +€485 | +3.9% |
| Suppliers | 440/4 | €12,358 | €12,843 | +€485 | +3.9% |
| Advances received on contracts in progress | 46 | €115,000 | €115,000 | = | 0.0% |
| Other amounts payable | 47/48 | €3,755,021 | €3,775,893 | +€20,873 | +0.6% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €1,030 | €18,055 | +€17,026 | +1,654% |
| Non-recurring operating charges | 66A | €1,962 | €0 | -€1,962 | -100% |
| Gross operating margin | 9900 | -€70,500 | -€2,567 | +€67,934 | +96.4% |
| Operating profit (loss) | 9901 | -€73,492 | -€20,622 | +€52,870 | +71.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,085 | €889 | -€3,196 | -78.2% |
| Recurring financial charges | 65 | €4,085 | €889 | -€3,196 | -78.2% |
| Profit (loss) for the period before taxes | 9903 | -€77,576 | -€21,511 | +€56,066 | +72.3% |
| Income taxes | 67/77 | €4,289 | €0 | -€4,289 | -100% |
| Profit (loss) for the period | 9904 | -€81,866 | -€21,511 | +€60,355 | +73.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,866 | -€21,511 | +€60,355 | +73.7% |
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 13 October 2026 via checked.be.