SDS Invest: what changed
SDS Invest
Largest movements
- Cash +€139,063
up €139,063 (+28.1%), from €494,304 to €633,367
mainly Investment in fixed assets (net) (+€86,322) and Current investments (+€73,552)
- Financial fixed assets -€86,322
down €86,322 (-87.8%), from €98,298 to €11,977
- Current investments -€73,552
down €73,552 (-5.4%), from €1.4m to €1.3m
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€112,217
up €112,217 (+832%), from €13,480 to €125,698
of which Non-recurring financial charges: +€82,228
- Financial income -€22,802
down €22,802 (-25.0%), from €91,111 to €68,309
of which Non-recurring financial income: -€70,527
- Gross operating margin -€819
down €819 (-1.1%), from €74,275 to €73,456
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 | €2,104,819 | €2,102,074 | -€2,745 | -0.1% |
| Fixed assets | 21/28 | €126,083 | €30,500 | -€95,583 | -75.8% |
| Tangible fixed assets | 22/27 | €27,785 | €18,523 | -€9,262 | -33.3% |
| Furniture and vehicles | 24 | €27,785 | €18,523 | -€9,262 | -33.3% |
| Financial fixed assets | 28 | €98,298 | €11,977 | -€86,322 | -87.8% |
| Current assets | 29/58 | €1,978,736 | €2,071,575 | +€92,839 | +4.7% |
| Amounts receivable within one year | 40/41 | €9,912 | €21,588 | +€11,676 | +118% |
| Trade receivables | 40 | €2,756 | - | -€2,756 | |
| Other amounts receivable | 41 | €7,156 | €21,588 | +€14,432 | +202% |
| Current investments | 50/53 | €1,369,896 | €1,296,344 | -€73,552 | -5.4% |
| Cash at bank and in hand | 54/58 | €494,304 | €633,367 | +€139,063 | +28.1% |
| Deferred charges and accrued income | 490/1 | €104,623 | €120,276 | +€15,653 | +15.0% |
| Total equity and liabilities | 10/49 | €2,104,819 | €2,102,074 | -€2,745 | -0.1% |
| Equity | 10/15 | -€1,048,718 | -€1,043,364 | +€5,354 | +0.5% |
| Contributions | 10/11 | €167,279 | €167,279 | = | 0.0% |
| Capital | 10 | €167,279 | €167,279 | = | 0.0% |
| Issued capital | 100 | €167,279 | €167,279 | = | 0.0% |
| Reserves | 13 | €16,728 | €16,728 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,728 | €16,728 | = | 0.0% |
| Legal reserve | 130 | €16,728 | €16,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,232,725 | -€1,227,370 | +€5,354 | +0.4% |
| Amounts payable | 17/49 | €3,153,537 | €3,145,438 | -€8,099 | -0.3% |
| Amounts payable within one year | 42/48 | €3,141,935 | €3,137,930 | -€4,005 | -0.1% |
| Trade debts | 44 | €1,210 | - | -€1,210 | |
| Suppliers | 440/4 | €1,210 | - | -€1,210 | |
| Other amounts payable | 47/48 | €3,140,725 | €3,137,930 | -€2,795 | -0.1% |
| Accrued charges and deferred income | 492/3 | €11,602 | €7,509 | -€4,094 | -35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,262 | €9,262 | = | 0.0% |
| Other operating charges | 640/8 | €1,253 | €1,293 | +€41 | +3.2% |
| Gross operating margin | 9900 | €74,275 | €73,456 | -€819 | -1.1% |
| Operating profit (loss) | 9901 | €63,761 | €62,901 | -€860 | -1.3% |
| Financial income | 75/76B | €91,111 | €68,309 | -€22,802 | -25.0% |
| Recurring financial income | 75 | €20,584 | €68,309 | +€47,725 | +232% |
| Non-recurring financial income | 76B | €70,527 | - | -€70,527 | |
| Financial charges | 65/66B | €13,480 | €125,698 | +€112,217 | +832% |
| Recurring financial charges | 65 | €13,480 | €43,469 | +€29,989 | +222% |
| Non-recurring financial charges | 66B | - | €82,228 | +€82,228 | |
| Profit (loss) for the period before taxes | 9903 | €141,391 | €5,512 | -€135,879 | -96.1% |
| Income taxes | 67/77 | €227 | €158 | -€69 | -30.3% |
| Profit (loss) for the period | 9904 | €141,164 | €5,354 | -€135,810 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,164 | €5,354 | -€135,810 | -96.2% |
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 3 November 2026 via checked.be.