SDS VERANDA: 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 VERANDA
Largest movements
- Intangible fixed assets -€45,221
down €45,221 (-8.4%), from €541,375 to €496,154
- Tangible fixed assets +€42,153
up €42,153 (+61.8%), from €68,259 to €110,411
of which Leasing and similar rights: +€42,931
- Deferred charges and accrued income +€24,992
up €24,992 (+322%), from €7,759 to €32,750
- Receivables within one year -€14,434
down €14,434 (-5.3%), from €273,740 to €259,306
of which Other amounts receivable: -€23,920
- Tax, wage and social debts +€39,246
up €39,246 (+19.0%), from €206,854 to €246,100
of which Remuneration and social security: +€61,775
- Other debts -€25,349
down €25,349 (-15.2%), from €166,713 to €141,365
- Current portion of long-term debt +€12,539
up €12,539 (+51.1%), from €24,535 to €37,074
- Gross operating margin +€81,027
up €81,027 (+10.9%), from €745,507 to €826,534
- Other operating charges +€43,634
up €43,634 (+473%), from €9,234 to €52,868
- Staff costs +€24,936
up €24,936 (+4.2%), from €597,124 to €622,060
- Depreciation +€17,373
up €17,373 (+31.6%), from €55,045 to €72,418
- Financial charges +€10,479
up €10,479 (+16.7%), from €62,906 to €73,385
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 | €1,210,864 | €1,235,810 | +€24,946 | +2.1% |
| Fixed assets | 21/28 | €613,864 | €610,795 | -€3,068 | -0.5% |
| Intangible fixed assets | 21 | €541,375 | €496,154 | -€45,221 | -8.4% |
| Tangible fixed assets | 22/27 | €68,259 | €110,411 | +€42,153 | +61.8% |
| Plant, machinery and equipment | 23 | €773 | €354 | -€419 | -54.2% |
| Furniture and vehicles | 24 | €1,582 | €1,223 | -€359 | -22.7% |
| Leasing and similar rights | 25 | €65,903 | €108,834 | +€42,931 | +65.1% |
| Financial fixed assets | 28 | €4,230 | €4,230 | = | 0.0% |
| Current assets | 29/58 | €597,000 | €625,015 | +€28,014 | +4.7% |
| Stocks and contracts in progress | 3 | €255,750 | €261,100 | +€5,350 | +2.1% |
| Stocks | 30/36 | €155,750 | €159,600 | +€3,850 | +2.5% |
| Contracts in progress | 37 | €100,000 | €101,500 | +€1,500 | +1.5% |
| Amounts receivable within one year | 40/41 | €273,740 | €259,306 | -€14,434 | -5.3% |
| Trade receivables | 40 | €246,087 | €255,572 | +€9,486 | +3.9% |
| Other amounts receivable | 41 | €27,653 | €3,734 | -€23,920 | -86.5% |
| Cash at bank and in hand | 54/58 | €59,752 | €71,858 | +€12,106 | +20.3% |
| Deferred charges and accrued income | 490/1 | €7,759 | €32,750 | +€24,992 | +322% |
| Total equity and liabilities | 10/49 | €1,210,864 | €1,235,810 | +€24,946 | +2.1% |
| Equity | 10/15 | €95,732 | €92,005 | -€3,727 | -3.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €75,732 | €72,005 | -€3,727 | -4.9% |
| Distributable reserves | 133 | €75,732 | €72,005 | -€3,727 | -4.9% |
| Amounts payable | 17/49 | €1,115,133 | €1,143,805 | +€28,673 | +2.6% |
| Amounts payable after more than one year | 17 | €688,580 | €697,610 | +€9,029 | +1.3% |
| Financial debts | 170/4 | €688,580 | €697,610 | +€9,029 | +1.3% |
| Amounts payable within one year | 42/48 | €426,552 | €446,195 | +€19,643 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €24,535 | €37,074 | +€12,539 | +51.1% |
| Trade debts | 44 | €28,449 | €21,656 | -€6,793 | -23.9% |
| Suppliers | 440/4 | €28,449 | €21,656 | -€6,793 | -23.9% |
| Taxes, remuneration and social security | 45 | €206,854 | €246,100 | +€39,246 | +19.0% |
| Taxes | 450/3 | €93,692 | €71,164 | -€22,529 | -24.0% |
| Remuneration and social security | 454/9 | €113,162 | €174,936 | +€61,775 | +54.6% |
| Other amounts payable | 47/48 | €166,713 | €141,365 | -€25,349 | -15.2% |
| Non-recurring operating income | 76A | - | €1,407 | +€1,407 | |
| Remuneration, social security and pensions | 62 | €597,124 | €622,060 | +€24,936 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,045 | €72,418 | +€17,373 | +31.6% |
| Other operating charges | 640/8 | €9,234 | €52,868 | +€43,634 | +473% |
| Gross operating margin | 9900 | €745,507 | €826,534 | +€81,027 | +10.9% |
| Operating profit (loss) | 9901 | €84,103 | €79,188 | -€4,915 | -5.8% |
| Financial income | 75/76B | €1,607 | €6,009 | +€4,402 | +274% |
| Recurring financial income | 75 | €1,607 | €6,009 | +€4,402 | +274% |
| Financial charges | 65/66B | €62,906 | €73,385 | +€10,479 | +16.7% |
| Recurring financial charges | 65 | €62,906 | €73,385 | +€10,479 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €22,805 | €11,812 | -€10,992 | -48.2% |
| Income taxes | 67/77 | €7,534 | €15,539 | +€8,005 | +106% |
| Profit (loss) for the period | 9904 | €15,271 | -€3,727 | -€18,998 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,271 | -€3,727 | -€18,998 |
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 18 October 2026 via checked.be.