SDR Consult: 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.
SDR Consult
Largest movements
- Tangible fixed assets +€113,152
up €113,152 (+495.7%), from €22,826 to €135,978
of which Land and buildings: +€68,071
- Receivables within one year +€18,716
up €18,716 (+974.2%), from €1,921 to €20,637
of which Trade receivables: +€17,016
- Cash -€16,740
down €16,740 (-35.6%), from €47,042 to €30,303
mainly Investment in fixed assets (net) (-€138,937) and Other debts (-€35,175)
- Deferred charges and accrued income -€3,338
down €3,338 (-53.9%), from €6,193 to €2,856
- Debts after one year +€111,540
up €111,540 (+937.7%), from €11,895 to €123,434
- Other debts -€35,175
down €35,175 (-64.8%), from €54,248 to €19,073
- Profit (loss) carried forward +€32,527
up €32,527 (+3315.5%), from €981 to €33,508
- Current portion of long-term debt +€10,726
up €10,726 (+122.9%), from €8,728 to €19,454
- Tax, wage and social debts -€4,918
down €4,918 (-38.8%), from €12,662 to €7,744
- Gross operating margin -€14,112
down €14,112 (-15.2%), from €92,784 to €78,672
- Depreciation +€5,250
up €5,250 (+25.6%), from €20,536 to €25,785
- Financial charges +€4,303
up €4,303 (+153.6%), from €2,801 to €7,104
- Taxes -€2,307
down €2,307 (-15.1%), from €15,314 to €13,007
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 | €113,558 | €225,348 | +€111,790 | +98.4% |
| Fixed assets | 21/28 | €28,401 | €141,553 | +€113,152 | +398.4% |
| Tangible fixed assets | 22/27 | €22,826 | €135,978 | +€113,152 | +495.7% |
| Land and buildings | 22 | €12,647 | €80,718 | +€68,071 | +538.2% |
| Plant, machinery and equipment | 23 | €5,318 | €3,200 | -€2,118 | -39.8% |
| Furniture and vehicles | 24 | €1,680 | €502 | -€1,178 | -70.1% |
| Leasing and similar rights | 25 | - | €48,946 | +€48,946 | |
| Other tangible fixed assets | 26 | €3,181 | €2,612 | -€569 | -17.9% |
| Financial fixed assets | 28 | €5,575 | €5,575 | = | 0.0% |
| Current assets | 29/58 | €85,157 | €83,795 | -€1,361 | -1.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,921 | €20,637 | +€18,716 | +974.2% |
| Trade receivables | 40 | €1,600 | €18,616 | +€17,016 | +1063.5% |
| Other amounts receivable | 41 | €321 | €2,022 | +€1,700 | +529.3% |
| Cash at bank and in hand | 54/58 | €47,042 | €30,303 | -€16,740 | -35.6% |
| Deferred charges and accrued income | 490/1 | €6,193 | €2,856 | -€3,338 | -53.9% |
| Total equity and liabilities | 10/49 | €113,558 | €225,348 | +€111,790 | +98.4% |
| Equity | 10/15 | €19,581 | €52,108 | +€32,527 | +166.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | €0 | = | 0.0% |
| Distributable reserves | 133 | €0 | €0 | = | 0.0% |
| Profit (loss) carried forward | 14 | €981 | €33,508 | +€32,527 | +3315.5% |
| Amounts payable | 17/49 | €93,976 | €173,240 | +€79,264 | +84.3% |
| Amounts payable after more than one year | 17 | €11,895 | €123,434 | +€111,540 | +937.7% |
| Financial debts | 170/4 | €11,895 | €123,434 | +€111,540 | +937.7% |
| Amounts payable within one year | 42/48 | €82,082 | €49,806 | -€32,276 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €8,728 | €19,454 | +€10,726 | +122.9% |
| Financial debts | 43 | €523 | €846 | +€323 | +61.7% |
| Credit institutions | 430/8 | €523 | €846 | +€323 | +61.7% |
| Trade debts | 44 | €5,921 | €2,689 | -€3,232 | -54.6% |
| Suppliers | 440/4 | €5,921 | €2,689 | -€3,232 | -54.6% |
| Taxes, remuneration and social security | 45 | €12,662 | €7,744 | -€4,918 | -38.8% |
| Taxes | 450/3 | €12,662 | €7,744 | -€4,918 | -38.8% |
| Other amounts payable | 47/48 | €54,248 | €19,073 | -€35,175 | -64.8% |
| Non-recurring operating income | 76A | €0 | €8,106 | +€8,106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,536 | €25,785 | +€5,250 | +25.6% |
| Other operating charges | 640/8 | €1,174 | €718 | -€457 | -38.9% |
| Gross operating margin | 9900 | €92,784 | €78,672 | -€14,112 | -15.2% |
| Operating profit (loss) | 9901 | €71,074 | €52,169 | -€18,906 | -26.6% |
| Financial income | 75/76B | €831 | €468 | -€363 | -43.7% |
| Recurring financial income | 75 | €831 | €468 | -€363 | -43.7% |
| Financial charges | 65/66B | €2,801 | €7,104 | +€4,303 | +153.6% |
| Recurring financial charges | 65 | €2,801 | €7,104 | +€4,303 | +153.6% |
| Profit (loss) for the period before taxes | 9903 | €69,104 | €45,533 | -€23,571 | -34.1% |
| Income taxes | 67/77 | €15,314 | €13,007 | -€2,307 | -15.1% |
| Profit (loss) for the period | 9904 | €53,791 | €32,527 | -€21,264 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,791 | €32,527 | -€21,264 | -39.5% |
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 3 October 2026 via checked.be.