SDP: 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.
SDP
Largest movements
- Cash +€37,159
up €37,159 (+87.2%), from €42,593 to €79,751
mainly Net result for the year (+€30,018) and Deferred charges and accrued income (+€13,716)
- Deferred charges and accrued income -€13,716
down €13,716 (-36.7%), from €37,333 to €23,618
- Receivables within one year +€9,558
up €9,558 (+135.5%), from €7,053 to €16,611
of which Trade receivables: +€8,955
- Tangible fixed assets +€2,601
up €2,601 (+36.4%), from €7,155 to €9,756
of which Other tangible fixed assets: +€2,469
- Profit (loss) carried forward +€30,018
up €30,018 (+42.5%), from €70,651 to €100,669
- Tax, wage and social debts +€2,607
up €2,607 (+12.3%), from €21,216 to €23,823
of which Taxes: +€2,030
- Trade debts +€2,485
up €2,485 (+244.6%), from €1,016 to €3,501
- Gross operating margin -€20,843
down €20,843 (-37.3%), from €55,921 to €35,078
- Write-downs -€13,365
down €13,365, from €6,683 to -€6,683
- Financial income +€1,509
up €1,509 (+1162.1%), from €130 to €1,639
- Taxes -€635
down €635 (-6.5%), from €9,730 to €9,095
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 | €94,134 | €129,736 | +€35,602 | +37.8% |
| Fixed assets | 21/28 | €7,155 | €9,756 | +€2,601 | +36.4% |
| Tangible fixed assets | 22/27 | €7,155 | €9,756 | +€2,601 | +36.4% |
| Plant, machinery and equipment | 23 | €2,192 | €2,889 | +€697 | +31.8% |
| Furniture and vehicles | 24 | €4,964 | €4,398 | -€565 | -11.4% |
| Other tangible fixed assets | 26 | - | €2,469 | +€2,469 | |
| Current assets | 29/58 | €86,979 | €119,980 | +€33,001 | +37.9% |
| Amounts receivable within one year | 40/41 | €7,053 | €16,611 | +€9,558 | +135.5% |
| Trade receivables | 40 | €5,677 | €14,632 | +€8,955 | +157.7% |
| Other amounts receivable | 41 | €1,376 | €1,979 | +€603 | +43.8% |
| Cash at bank and in hand | 54/58 | €42,593 | €79,751 | +€37,159 | +87.2% |
| Deferred charges and accrued income | 490/1 | €37,333 | €23,618 | -€13,716 | -36.7% |
| Total equity and liabilities | 10/49 | €94,134 | €129,736 | +€35,602 | +37.8% |
| Equity | 10/15 | €71,901 | €101,919 | +€30,018 | +41.7% |
| Contributions | 10/11 | €1,250 | €1,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,651 | €100,669 | +€30,018 | +42.5% |
| Amounts payable | 17/49 | €22,233 | €27,817 | +€5,584 | +25.1% |
| Amounts payable within one year | 42/48 | €22,232 | €27,324 | +€5,092 | +22.9% |
| Trade debts | 44 | €1,016 | €3,501 | +€2,485 | +244.6% |
| Suppliers | 440/4 | €1,016 | €3,501 | +€2,485 | +244.6% |
| Taxes, remuneration and social security | 45 | €21,216 | €23,823 | +€2,607 | +12.3% |
| Taxes | 450/3 | €20,414 | €22,444 | +€2,030 | +9.9% |
| Remuneration and social security | 454/9 | €802 | €1,379 | +€577 | +72.0% |
| Accrued charges and deferred income | 492/3 | €2 | €494 | +€492 | +28437.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,037 | €2,281 | +€243 | +11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,683 | -€6,683 | -€13,365 | |
| Other operating charges | 640/8 | €1,305 | €1,091 | -€214 | -16.4% |
| Gross operating margin | 9900 | €55,921 | €35,078 | -€20,843 | -37.3% |
| Operating profit (loss) | 9901 | €45,896 | €38,389 | -€7,507 | -16.4% |
| Financial income | 75/76B | €130 | €1,639 | +€1,509 | +1162.1% |
| Recurring financial income | 75 | €130 | €1,639 | +€1,509 | +1162.1% |
| Financial charges | 65/66B | €1,011 | €914 | -€97 | -9.6% |
| Recurring financial charges | 65 | €1,011 | €914 | -€97 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €45,015 | €39,114 | -€5,901 | -13.1% |
| Income taxes | 67/77 | €9,730 | €9,095 | -€635 | -6.5% |
| Profit (loss) for the period | 9904 | €35,285 | €30,018 | -€5,266 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,285 | €30,018 | -€5,266 | -14.9% |
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 6 October 2026 via checked.be.