SDS Surgery: 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 Surgery
Largest movements
- Receivables within one year +€70,740
up €70,740 (+71.9%), from €98,437 to €169,177
of which Trade receivables: +€65,334
- Intangible fixed assets -€40,000
down €40,000 (-11.0%), from €363,836 to €323,836
- Tangible fixed assets -€19,333
down €19,333 (-42.3%), from €45,712 to €26,378
- Cash -€18,692
down €18,692 (-14.1%), from €132,142 to €113,450
mainly Receivables within one year (-€70,740) and Other debts (-€69,707)
- Reserves +€105,494
up €105,494 (+110.2%), from €95,770 to €201,264
- Other debts -€69,707
down €69,707 (-41.7%), from €167,173 to €97,466
- Debts after one year -€67,198
down €67,198 (-21.8%), from €307,945 to €240,747
- Tax, wage and social debts +€14,247
new in 2025: €14,247
of which Taxes: +€13,758
- Gross operating margin +€43,418
up €43,418 (+23.6%), from €183,905 to €227,323
- Financial charges +€12,945
up €12,945 (+146.3%), from €8,847 to €21,791
- Depreciation +€10,880
up €10,880 (+22.5%), from €48,453 to €59,333
- Taxes +€5,352
up €5,352 (+18.2%), from €29,406 to €34,758
- Staff costs +€4,892
new in 2025: €4,892
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 | €643,556 | €636,355 | -€7,201 | -1.1% |
| Fixed assets | 21/28 | €409,547 | €350,214 | -€59,333 | -14.5% |
| Intangible fixed assets | 21 | €363,836 | €323,836 | -€40,000 | -11.0% |
| Tangible fixed assets | 22/27 | €45,712 | €26,378 | -€19,333 | -42.3% |
| Furniture and vehicles | 24 | €45,712 | €26,378 | -€19,333 | -42.3% |
| Current assets | 29/58 | €234,009 | €286,141 | +€52,133 | +22.3% |
| Amounts receivable within one year | 40/41 | €98,437 | €169,177 | +€70,740 | +71.9% |
| Trade receivables | 40 | €93,843 | €159,177 | +€65,334 | +69.6% |
| Other amounts receivable | 41 | €4,594 | €10,000 | +€5,406 | +117.7% |
| Cash at bank and in hand | 54/58 | €132,142 | €113,450 | -€18,692 | -14.1% |
| Deferred charges and accrued income | 490/1 | €3,429 | €3,514 | +€85 | +2.5% |
| Total equity and liabilities | 10/49 | €643,556 | €636,355 | -€7,201 | -1.1% |
| Equity | 10/15 | €98,770 | €204,264 | +€105,494 | +106.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €95,770 | €201,264 | +€105,494 | +110.2% |
| Distributable reserves | 133 | €95,770 | €201,264 | +€105,494 | +110.2% |
| Amounts payable | 17/49 | €544,786 | €432,092 | -€112,695 | -20.7% |
| Amounts payable after more than one year | 17 | €307,945 | €240,747 | -€67,198 | -21.8% |
| Financial debts | 170/4 | €307,945 | €240,747 | -€67,198 | -21.8% |
| Amounts payable within one year | 42/48 | €233,974 | €182,134 | -€51,840 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €64,842 | €67,198 | +€2,356 | +3.6% |
| Financial debts | 43 | €234 | €989 | +€755 | +323.1% |
| Credit institutions | 430/8 | €234 | €989 | +€755 | +323.1% |
| Trade debts | 44 | €1,725 | €2,233 | +€508 | +29.4% |
| Suppliers | 440/4 | €1,725 | €2,233 | +€508 | +29.4% |
| Taxes, remuneration and social security | 45 | - | €14,247 | +€14,247 | |
| Taxes | 450/3 | - | €13,758 | +€13,758 | |
| Remuneration and social security | 454/9 | - | €489 | +€489 | |
| Other amounts payable | 47/48 | €167,173 | €97,466 | -€69,707 | -41.7% |
| Accrued charges and deferred income | 492/3 | €2,867 | €9,210 | +€6,344 | +221.3% |
| Remuneration, social security and pensions | 62 | - | €4,892 | +€4,892 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,453 | €59,333 | +€10,880 | +22.5% |
| Other operating charges | 640/8 | €1,429 | €1,054 | -€376 | -26.3% |
| Gross operating margin | 9900 | €183,905 | €227,323 | +€43,418 | +23.6% |
| Operating profit (loss) | 9901 | €134,022 | €162,044 | +€28,021 | +20.9% |
| Financial charges | 65/66B | €8,847 | €21,791 | +€12,945 | +146.3% |
| Recurring financial charges | 65 | €8,847 | €21,791 | +€12,945 | +146.3% |
| Profit (loss) for the period before taxes | 9903 | €125,176 | €140,252 | +€15,077 | +12.0% |
| Income taxes | 67/77 | €29,406 | €34,758 | +€5,352 | +18.2% |
| Profit (loss) for the period | 9904 | €95,770 | €105,494 | +€9,725 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,770 | €105,494 | +€9,725 | +10.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.