SDS: 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.
SDS
Largest movements
- Receivables within one year -€7,708
down €7,708 (-59.7%), from €12,916 to €5,207
of which Trade receivables: -€9,075
- Tangible fixed assets -€1,417
down €1,417 (-31.6%), from €4,480 to €3,063
- Stocks and contracts -€530
down €530 (-32.7%), from €1,623 to €1,093
- Profit (loss) carried forward -€15,719
down €15,719 (-3.3%), from -€473,798 to -€489,517
- Debts after one year +€7,500
up €7,500 (+1.7%), from €451,144 to €458,644
- Tax, wage and social debts -€1,145
no longer reported in 2025 (was €1,145)
- Trade debts -€419
down €419 (-94.3%), from €444 to €25
- Gross operating margin -€13,233
down €13,233, from €536 to -€12,697
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 | €23,987 | €14,204 | -€9,783 | -40.8% |
| Fixed assets | 21/28 | €4,539 | €3,122 | -€1,417 | -31.2% |
| Tangible fixed assets | 22/27 | €4,480 | €3,063 | -€1,417 | -31.6% |
| Plant, machinery and equipment | 23 | €4,480 | €3,063 | -€1,417 | -31.6% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €19,447 | €11,082 | -€8,366 | -43.0% |
| Stocks and contracts in progress | 3 | €1,623 | €1,093 | -€530 | -32.7% |
| Stocks | 30/36 | €1,623 | €1,093 | -€530 | -32.7% |
| Amounts receivable within one year | 40/41 | €12,916 | €5,207 | -€7,708 | -59.7% |
| Trade receivables | 40 | €11,894 | €2,819 | -€9,075 | -76.3% |
| Other amounts receivable | 41 | €1,022 | €2,389 | +€1,367 | +133.7% |
| Cash at bank and in hand | 54/58 | €4,526 | €4,399 | -€127 | -2.8% |
| Deferred charges and accrued income | 490/1 | €382 | €382 | = | 0.0% |
| Total equity and liabilities | 10/49 | €23,987 | €14,204 | -€9,783 | -40.8% |
| Equity | 10/15 | -€428,795 | -€444,515 | -€15,719 | -3.7% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Reserves | 13 | €1,002 | €1,002 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,002 | €1,002 | = | 0.0% |
| Reserves not available under the articles | 1311 | €779 | €779 | = | 0.0% |
| Other | 1319 | €223 | €223 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€473,798 | -€489,517 | -€15,719 | -3.3% |
| Amounts payable | 17/49 | €452,782 | €458,719 | +€5,937 | +1.3% |
| Amounts payable after more than one year | 17 | €451,144 | €458,644 | +€7,500 | +1.7% |
| Financial debts | 170/4 | €451,144 | €458,644 | +€7,500 | +1.7% |
| Amounts payable within one year | 42/48 | €1,638 | €75 | -€1,563 | -95.4% |
| Trade debts | 44 | €444 | €25 | -€419 | -94.3% |
| Suppliers | 440/4 | €444 | €25 | -€419 | -94.3% |
| Taxes, remuneration and social security | 45 | €1,145 | - | -€1,145 | |
| Taxes | 450/3 | €1,145 | - | -€1,145 | |
| Other amounts payable | 47/48 | €49 | €49 | +€0 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,511 | €2,455 | -€56 | -2.2% |
| Other operating charges | 640/8 | €516 | €531 | +€16 | +3.0% |
| Gross operating margin | 9900 | €536 | -€12,697 | -€13,233 | |
| Operating profit (loss) | 9901 | -€2,490 | -€15,683 | -€13,192 | -529.7% |
| Financial income | 75/76B | €30 | €6 | -€24 | -80.8% |
| Recurring financial income | 75 | €30 | €6 | -€24 | -80.8% |
| Financial charges | 65/66B | - | €42 | +€42 | |
| Recurring financial charges | 65 | - | €42 | +€42 | |
| Profit (loss) for the period before taxes | 9903 | -€2,460 | -€15,719 | -€13,259 | -538.9% |
| Profit (loss) for the period | 9904 | -€2,460 | -€15,719 | -€13,259 | -538.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,460 | -€15,719 | -€13,259 | -538.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.