SDS Harmonic Value: 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.
SDS Harmonic Value
Largest movements
- Current investments +€182,528
up €182,528 (+365%), from €50,000 to €232,528
- Tangible fixed assets -€12,072
down €12,072 (-25.7%), from €46,989 to €34,917
of which Furniture and vehicles: -€13,531
- Cash +€8,954
up €8,954 (+78.5%), from €11,402 to €20,356
mainly Net result for the year (+€151,623) and Tax, wage and social debts (+€44,268)
- Profit (loss) carried forward +€150,790
up €150,790 (+277%), from €54,355 to €205,146
- Tax, wage and social debts +€44,268
up €44,268 (+297%), from €14,888 to €59,155
- Debts after one year -€13,761
down €13,761 (-38.9%), from €35,363 to €21,602
- Gross operating margin +€115,987
up €115,987 (+123%), from €93,996 to €209,983
- Taxes +€29,776
up €29,776 (+196%), from €15,154 to €44,930
- Depreciation -€6,954
down €6,954 (-33.6%), from €20,666 to €13,713
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 | €119,416 | €301,387 | +€181,971 | +152% |
| Fixed assets | 21/28 | €47,489 | €35,417 | -€12,072 | -25.4% |
| Tangible fixed assets | 22/27 | €46,989 | €34,917 | -€12,072 | -25.7% |
| Plant, machinery and equipment | 23 | - | €1,459 | +€1,459 | |
| Furniture and vehicles | 24 | €46,989 | €33,458 | -€13,531 | -28.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €71,927 | €265,970 | +€194,043 | +270% |
| Amounts receivable within one year | 40/41 | €10,085 | €11,897 | +€1,812 | +18.0% |
| Trade receivables | 40 | €8,500 | €11,000 | +€2,500 | +29.4% |
| Other amounts receivable | 41 | €1,585 | €897 | -€688 | -43.4% |
| Current investments | 50/53 | €50,000 | €232,528 | +€182,528 | +365% |
| Cash at bank and in hand | 54/58 | €11,402 | €20,356 | +€8,954 | +78.5% |
| Deferred charges and accrued income | 490/1 | €441 | €1,189 | +€748 | +170% |
| Total equity and liabilities | 10/49 | €119,416 | €301,387 | +€181,971 | +152% |
| Equity | 10/15 | €54,455 | €205,246 | +€150,790 | +277% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Contributions outside capital | 11 | €100 | - | -€100 | |
| Other | 1109/19 | €100 | - | -€100 | |
| Profit (loss) carried forward | 14 | €54,355 | €205,146 | +€150,790 | +277% |
| Amounts payable | 17/49 | €64,961 | €96,141 | +€31,180 | +48.0% |
| Amounts payable after more than one year | 17 | €35,363 | €21,602 | -€13,761 | -38.9% |
| Financial debts | 170/4 | €35,363 | €21,602 | -€13,761 | -38.9% |
| Amounts payable within one year | 42/48 | €29,465 | €73,854 | +€44,388 | +151% |
| Current portion of amounts payable after more than one year | 42 | €13,270 | €13,761 | +€491 | +3.7% |
| Trade debts | 44 | €475 | €104 | -€370 | -78.0% |
| Suppliers | 440/4 | €475 | €104 | -€370 | -78.0% |
| Taxes, remuneration and social security | 45 | €14,888 | €59,155 | +€44,268 | +297% |
| Taxes | 450/3 | €14,888 | €59,155 | +€44,268 | +297% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €132 | €685 | +€553 | +418% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,666 | €13,713 | -€6,954 | -33.6% |
| Other operating charges | 640/8 | €524 | €251 | -€273 | -52.0% |
| Gross operating margin | 9900 | €93,996 | €209,983 | +€115,987 | +123% |
| Operating profit (loss) | 9901 | €72,806 | €196,019 | +€123,213 | +169% |
| Financial income | 75/76B | €888 | €2,214 | +€1,326 | +149% |
| Recurring financial income | 75 | €888 | €2,214 | +€1,326 | +149% |
| Financial charges | 65/66B | €3,351 | €1,680 | -€1,672 | -49.9% |
| Recurring financial charges | 65 | €3,351 | €1,680 | -€1,672 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €70,342 | €196,554 | +€126,211 | +179% |
| Income taxes | 67/77 | €15,154 | €44,930 | +€29,776 | +196% |
| Profit (loss) for the period | 9904 | €55,188 | €151,623 | +€96,435 | +175% |
| Profit (loss) for the period to be appropriated | 9905 | €55,188 | €151,623 | +€96,435 | +175% |
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 25 October 2026 via checked.be.