SDS TRANS: 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 TRANS
Largest movements
- Stocks and contracts -€26,930
down €26,930 (-71.0%), from €37,930 to €11,000
- Tangible fixed assets -€19,116
down €19,116 (-24.1%), from €79,439 to €60,323
- Financial fixed assets -€14,000
no longer reported in 2025 (was €14,000)
- Receivables within one year +€12,924
up €12,924 (+54.3%), from €23,790 to €36,714
of which Trade receivables: +€13,452
- Deferred charges and accrued income +€11,365
up €11,365 (+1540.2%), from €738 to €12,103
- Profit (loss) carried forward -€25,551
down €25,551 (-248.2%), from -€10,296 to -€35,847
- Debts after one year -€17,721
down €17,721 (-38.8%), from €45,621 to €27,900
- Tax, wage and social debts -€17,337
down €17,337 (-37.7%), from €46,000 to €28,664
of which Taxes: -€17,263
- Trade debts +€15,615
up €15,615 (+80.7%), from €19,339 to €34,953
- Other debts +€4,312
up €4,312 (+34.2%), from €12,626 to €16,937
- Gross operating margin -€10,932
down €10,932 (-11.3%), from €96,709 to €85,776
- Depreciation +€8,031
up €8,031 (+68.7%), from €11,696 to €19,727
- Other operating charges -€2,301
down €2,301 (-46.4%), from €4,960 to €2,659
- Financial charges +€2,170
up €2,170 (+58.6%), from €3,703 to €5,873
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 | €185,241 | €145,295 | -€39,946 | -21.6% |
| Fixed assets | 21/28 | €93,439 | €60,323 | -€33,116 | -35.4% |
| Tangible fixed assets | 22/27 | €79,439 | €60,323 | -€19,116 | -24.1% |
| Furniture and vehicles | 24 | €79,439 | €60,323 | -€19,116 | -24.1% |
| Financial fixed assets | 28 | €14,000 | - | -€14,000 | |
| Current assets | 29/58 | €91,802 | €84,972 | -€6,829 | -7.4% |
| Stocks and contracts in progress | 3 | €37,930 | €11,000 | -€26,930 | -71.0% |
| Stocks | 30/36 | €37,930 | €11,000 | -€26,930 | -71.0% |
| Amounts receivable within one year | 40/41 | €23,790 | €36,714 | +€12,924 | +54.3% |
| Trade receivables | 40 | €23,091 | €36,543 | +€13,452 | +58.3% |
| Other amounts receivable | 41 | €700 | €171 | -€529 | -75.6% |
| Cash at bank and in hand | 54/58 | €29,344 | €25,156 | -€4,188 | -14.3% |
| Deferred charges and accrued income | 490/1 | €738 | €12,103 | +€11,365 | +1540.2% |
| Total equity and liabilities | 10/49 | €185,241 | €145,295 | -€39,946 | -21.6% |
| Equity | 10/15 | €44,257 | €18,706 | -€25,551 | -57.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €49,553 | €49,553 | = | 0.0% |
| Distributable reserves | 133 | €49,553 | €49,553 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,296 | -€35,847 | -€25,551 | -248.2% |
| Amounts payable | 17/49 | €140,984 | €126,589 | -€14,395 | -10.2% |
| Amounts payable after more than one year | 17 | €45,621 | €27,900 | -€17,721 | -38.8% |
| Financial debts | 170/4 | €45,621 | €27,900 | -€17,721 | -38.8% |
| Amounts payable within one year | 42/48 | €94,955 | €98,275 | +€3,320 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €16,991 | €17,721 | +€731 | +4.3% |
| Trade debts | 44 | €19,339 | €34,953 | +€15,615 | +80.7% |
| Suppliers | 440/4 | €19,339 | €34,953 | +€15,615 | +80.7% |
| Taxes, remuneration and social security | 45 | €46,000 | €28,664 | -€17,337 | -37.7% |
| Taxes | 450/3 | €34,190 | €16,928 | -€17,263 | -50.5% |
| Remuneration and social security | 454/9 | €11,810 | €11,736 | -€74 | -0.6% |
| Other amounts payable | 47/48 | €12,626 | €16,937 | +€4,312 | +34.2% |
| Accrued charges and deferred income | 492/3 | €408 | €414 | +€5 | +1.3% |
| Non-recurring operating income | 76A | €7,412 | - | -€7,412 | |
| Remuneration, social security and pensions | 62 | €83,342 | €82,939 | -€402 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,696 | €19,727 | +€8,031 | +68.7% |
| Other operating charges | 640/8 | €4,960 | €2,659 | -€2,301 | -46.4% |
| Non-recurring operating charges | 66A | €3,061 | - | -€3,061 | |
| Gross operating margin | 9900 | €96,709 | €85,776 | -€10,932 | -11.3% |
| Operating profit (loss) | 9901 | -€6,350 | -€19,550 | -€13,199 | -207.8% |
| Financial income | 75/76B | - | €114 | +€114 | |
| Recurring financial income | 75 | - | €114 | +€114 | |
| Financial charges | 65/66B | €3,703 | €5,873 | +€2,170 | +58.6% |
| Recurring financial charges | 65 | €3,703 | €5,873 | +€2,170 | +58.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,054 | -€25,308 | -€15,255 | -151.7% |
| Income taxes | 67/77 | €243 | €243 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€10,296 | -€25,551 | -€15,255 | -148.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,296 | -€25,551 | -€15,255 | -148.2% |
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 11 October 2026 via checked.be.