SDS PARTNERS: 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 PARTNERS
Largest movements
- Receivables within one year +€294,200
up €294,200 (+1,216%), from €24,186 to €318,386
of which Other amounts receivable: +€300,705
- Cash -€82,899
down €82,899 (-66.5%), from €124,576 to €41,678
mainly Receivables within one year (-€294,200) and Contributions, distributions and other (-€250,342)
- Tangible fixed assets -€24,129
down €24,129 (-42.3%), from €56,985 to €32,856
of which Land and buildings: -€13,610
- Deferred charges and accrued income +€6,020
up €6,020 (+102%), from €5,887 to €11,907
- Other debts +€199,722
up €199,722 (+395%), from €50,620 to €250,342
- Debts after one year -€7,437
down €7,437 (-36.1%), from €20,577 to €13,140
- Gross operating margin +€281,552
up €281,552 (+135%), from €208,637 to €490,189
- Taxes +€66,347
up €66,347 (+326%), from €20,366 to €86,713
- Staff costs +€24,167
up €24,167 (+19.6%), from €123,014 to €147,181
- Financial income +€6,278
up €6,278 (+175%), from €3,589 to €9,867
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 | €231,884 | €422,827 | +€190,943 | +82.3% |
| Fixed assets | 21/28 | €77,235 | €50,856 | -€26,379 | -34.2% |
| Intangible fixed assets | 21 | €20,250 | €18,000 | -€2,250 | -11.1% |
| Tangible fixed assets | 22/27 | €56,985 | €32,856 | -€24,129 | -42.3% |
| Land and buildings | 22 | €13,610 | €0 | -€13,610 | -100% |
| Furniture and vehicles | 24 | €43,375 | €32,856 | -€10,519 | -24.3% |
| Current assets | 29/58 | €154,649 | €371,971 | +€217,322 | +141% |
| Amounts receivable within one year | 40/41 | €24,186 | €318,386 | +€294,200 | +1,216% |
| Trade receivables | 40 | €6,505 | €0 | -€6,505 | -100% |
| Other amounts receivable | 41 | €17,680 | €318,386 | +€300,705 | +1,701% |
| Cash at bank and in hand | 54/58 | €124,576 | €41,678 | -€82,899 | -66.5% |
| Deferred charges and accrued income | 490/1 | €5,887 | €11,907 | +€6,020 | +102% |
| Total equity and liabilities | 10/49 | €231,884 | €422,827 | +€190,943 | +82.3% |
| Equity | 10/15 | €82,401 | €82,401 | = | 0.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €596 | €596 | = | 0.0% |
| Amounts payable | 17/49 | €149,483 | €340,425 | +€190,943 | +128% |
| Amounts payable after more than one year | 17 | €20,577 | €13,140 | -€7,437 | -36.1% |
| Financial debts | 170/4 | €20,577 | €13,140 | -€7,437 | -36.1% |
| Amounts payable within one year | 42/48 | €125,914 | €323,370 | +€197,456 | +157% |
| Current portion of amounts payable after more than one year | 42 | €7,119 | €7,437 | +€318 | +4.5% |
| Trade debts | 44 | €38,808 | €36,675 | -€2,133 | -5.5% |
| Suppliers | 440/4 | €36,627 | €36,675 | +€48 | +0.1% |
| Bills of exchange payable | 441 | €2,181 | €0 | -€2,181 | -100% |
| Taxes, remuneration and social security | 45 | €29,368 | €28,916 | -€452 | -1.5% |
| Taxes | 450/3 | €4,063 | €6,815 | +€2,752 | +67.7% |
| Remuneration and social security | 454/9 | €25,305 | €22,101 | -€3,204 | -12.7% |
| Other amounts payable | 47/48 | €50,620 | €250,342 | +€199,722 | +395% |
| Accrued charges and deferred income | 492/3 | €2,991 | €3,915 | +€924 | +30.9% |
| Non-recurring operating income | 76A | €0 | €255,199 | +€255,199 | |
| Remuneration, social security and pensions | 62 | €123,014 | €147,181 | +€24,167 | +19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,343 | €12,769 | +€3,426 | +36.7% |
| Other operating charges | 640/8 | €2,572 | €1,382 | -€1,190 | -46.3% |
| Non-recurring operating charges | 66A | €5,250 | €0 | -€5,250 | -100% |
| Gross operating margin | 9900 | €208,637 | €490,189 | +€281,552 | +135% |
| Operating profit (loss) | 9901 | €68,458 | €328,857 | +€260,399 | +380% |
| Financial income | 75/76B | €3,589 | €9,867 | +€6,278 | +175% |
| Recurring financial income | 75 | €3,589 | €9,867 | +€6,278 | +175% |
| Financial charges | 65/66B | €1,061 | €1,669 | +€608 | +57.3% |
| Recurring financial charges | 65 | €1,061 | €1,669 | +€608 | +57.3% |
| Profit (loss) for the period before taxes | 9903 | €70,986 | €337,055 | +€266,069 | +375% |
| Income taxes | 67/77 | €20,366 | €86,713 | +€66,347 | +326% |
| Profit (loss) for the period | 9904 | €50,620 | €250,342 | +€199,722 | +395% |
| Profit (loss) for the period to be appropriated | 9905 | €50,620 | €250,342 | +€199,722 | +395% |
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 30 October 2026 via checked.be.