SDRE: 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.
SDRE
Largest movements
- Current investments +€45,000
new in 2025: €45,000
- Cash +€26,464
up €26,464 (+52.7%), from €50,217 to €76,681
mainly Net result for the year (+€42,344) and Tax, wage and social debts (+€13,741)
- Receivables within one year -€12,876
no longer reported in 2025 (was €12,876)
- Tangible fixed assets -€11,311
down €11,311 (-33.8%), from €33,466 to €22,154
- Profit (loss) carried forward +€42,344
up €42,344 (+108%), from €39,253 to €81,596
- Tax, wage and social debts +€13,741
up €13,741 (+80.1%), from €17,155 to €30,896
- Short-term financial debts -€8,800
down €8,800 (-26.9%), from €32,773 to €23,973
- Gross operating margin +€11,359
up €11,359 (+19.7%), from €57,591 to €68,951
- Depreciation +€8,184
up €8,184 (+154%), from €5,329 to €13,513
- Taxes +€2,192
up €2,192 (+21.2%), from €10,322 to €12,514
- Other operating charges -€2,135
down €2,135 (-79.8%), from €2,674 to €539
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 | €98,288 | €145,753 | +€47,465 | +48.3% |
| Formation expenses | 20 | €728 | €562 | -€166 | -22.8% |
| Fixed assets | 21/28 | €33,466 | €22,154 | -€11,311 | -33.8% |
| Tangible fixed assets | 22/27 | €33,466 | €22,154 | -€11,311 | -33.8% |
| Furniture and vehicles | 24 | €33,466 | €22,154 | -€11,311 | -33.8% |
| Current assets | 29/58 | €64,095 | €123,037 | +€58,942 | +92.0% |
| Amounts receivable within one year | 40/41 | €12,876 | - | -€12,876 | |
| Trade receivables | 40 | €12,876 | - | -€12,876 | |
| Current investments | 50/53 | - | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €50,217 | €76,681 | +€26,464 | +52.7% |
| Deferred charges and accrued income | 490/1 | €1,002 | €1,356 | +€354 | +35.3% |
| Total equity and liabilities | 10/49 | €98,288 | €145,753 | +€47,465 | +48.3% |
| Equity | 10/15 | €44,253 | €86,596 | +€42,344 | +95.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,253 | €81,596 | +€42,344 | +108% |
| Amounts payable | 17/49 | €54,035 | €59,157 | +€5,121 | +9.5% |
| Amounts payable within one year | 42/48 | €54,035 | €59,157 | +€5,121 | +9.5% |
| Financial debts | 43 | €32,773 | €23,973 | -€8,800 | -26.9% |
| Other loans | 439 | €32,773 | €23,973 | -€8,800 | -26.9% |
| Trade debts | 44 | €446 | €461 | +€15 | +3.3% |
| Suppliers | 440/4 | €446 | €461 | +€15 | +3.3% |
| Taxes, remuneration and social security | 45 | €17,155 | €30,896 | +€13,741 | +80.1% |
| Taxes | 450/3 | €17,155 | €30,896 | +€13,741 | +80.1% |
| Other amounts payable | 47/48 | €3,662 | €3,827 | +€165 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,329 | €13,513 | +€8,184 | +154% |
| Other operating charges | 640/8 | €2,674 | €539 | -€2,135 | -79.8% |
| Gross operating margin | 9900 | €57,591 | €68,951 | +€11,359 | +19.7% |
| Operating profit (loss) | 9901 | €49,589 | €54,898 | +€5,309 | +10.7% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €24 | €40 | +€17 | +70.3% |
| Recurring financial charges | 65 | €24 | €40 | +€17 | +70.3% |
| Profit (loss) for the period before taxes | 9903 | €49,575 | €54,858 | +€5,283 | +10.7% |
| Income taxes | 67/77 | €10,322 | €12,514 | +€2,192 | +21.2% |
| Profit (loss) for the period | 9904 | €39,253 | €42,344 | +€3,091 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,253 | €42,344 | +€3,091 | +7.9% |
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 27 October 2026 via checked.be.