SDP INVEST: what changed
SDP INVEST
Largest movements
- Cash -€105,903
down €105,903 (-68.4%), from €154,923 to €49,021
mainly Contributions, distributions and other (-€129,036) and Other debts (-€1,260)
- Receivables within one year -€4,902
down €4,902 (-33.3%), from €14,725 to €9,823
- Tangible fixed assets -€3,386
down €3,386 (-23.0%), from €14,698 to €11,312
- Reserves -€122,234
down €122,234 (-94.7%), from €129,036 to €6,802
- Trade debts +€4,866
up €4,866 (+381%), from €1,277 to €6,143
- Tax, wage and social debts +€4,438
up €4,438 (+10.1%), from €44,126 to €48,563
of which Taxes: +€4,438
- Gross operating margin -€39,085
down €39,085 (-57.6%), from €67,851 to €28,766
- Other operating charges +€1,388
up €1,388 (+988%), from €141 to €1,528
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,346 | €70,156 | -€114,190 | -61.9% |
| Fixed assets | 21/28 | €14,698 | €11,312 | -€3,386 | -23.0% |
| Tangible fixed assets | 22/27 | €14,698 | €11,312 | -€3,386 | -23.0% |
| Furniture and vehicles | 24 | €14,698 | €11,312 | -€3,386 | -23.0% |
| Current assets | 29/58 | €169,649 | €58,844 | -€110,805 | -65.3% |
| Amounts receivable within one year | 40/41 | €14,725 | €9,823 | -€4,902 | -33.3% |
| Trade receivables | 40 | €14,725 | €9,823 | -€4,902 | -33.3% |
| Cash at bank and in hand | 54/58 | €154,923 | €49,021 | -€105,903 | -68.4% |
| Total equity and liabilities | 10/49 | €184,346 | €70,156 | -€114,190 | -61.9% |
| Equity | 10/15 | €134,036 | €11,802 | -€122,234 | -91.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €129,036 | €6,802 | -€122,234 | -94.7% |
| Distributable reserves | 133 | €129,036 | €6,802 | -€122,234 | -94.7% |
| Amounts payable | 17/49 | €50,311 | €58,354 | +€8,043 | +16.0% |
| Amounts payable within one year | 42/48 | €49,936 | €57,979 | +€8,043 | +16.1% |
| Trade debts | 44 | €1,277 | €6,143 | +€4,866 | +381% |
| Suppliers | 440/4 | €1,277 | €6,143 | +€4,866 | +381% |
| Taxes, remuneration and social security | 45 | €44,126 | €48,563 | +€4,438 | +10.1% |
| Taxes | 450/3 | €42,026 | €46,463 | +€4,438 | +10.6% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €4,533 | €3,273 | -€1,260 | -27.8% |
| Accrued charges and deferred income | 492/3 | €375 | €375 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,921 | €4,536 | +€614 | +15.7% |
| Other operating charges | 640/8 | €141 | €1,528 | +€1,388 | +988% |
| Gross operating margin | 9900 | €67,851 | €28,766 | -€39,085 | -57.6% |
| Operating profit (loss) | 9901 | €63,789 | €22,702 | -€41,087 | -64.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €306 | €408 | +€102 | +33.3% |
| Recurring financial charges | 65 | €306 | €408 | +€102 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €63,483 | €22,294 | -€41,189 | -64.9% |
| Income taxes | 67/77 | €15,609 | €15,492 | -€116 | -0.7% |
| Profit (loss) for the period | 9904 | €47,874 | €6,802 | -€41,072 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,874 | €6,802 | -€41,072 | -85.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.