SDSH: 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.
SDSH
Largest movements
- Cash +€62,887
up €62,887 (+433%), from €14,531 to €77,418
mainly Other debts (+€112,830) and Net result for the year (+€63,536)
- Stocks and contracts +€20,060
up €20,060 (+55.9%), from €35,902 to €55,962
- Other debts +€112,830
up €112,830 (+178%), from €63,432 to €176,262
- Debts after one year -€100,000
no longer reported in 2025 (was €100,000)
- Profit (loss) carried forward +€63,536
up €63,536 (+73.0%), from -€86,995 to -€23,460
- Accrued charges and deferred income +€4,975
up €4,975 (+143%), from €3,475 to €8,450
- Trade debts -€4,105
down €4,105 (-40.8%), from €10,069 to €5,964
- Gross operating margin +€84,262
up €84,262, from -€9,993 to €74,269
- Depreciation +€5,891
up €5,891 (+295%), from €1,996 to €7,887
- Financial charges +€2,590
up €2,590 (+506%), from €512 to €3,102
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 | €109,981 | €190,837 | +€80,856 | +73.5% |
| Fixed assets | 21/28 | €51,811 | €49,813 | -€1,998 | -3.9% |
| Intangible fixed assets | 21 | €11,511 | €9,711 | -€1,800 | -15.6% |
| Tangible fixed assets | 22/27 | €32,050 | €31,852 | -€198 | -0.6% |
| Plant, machinery and equipment | 23 | €2,221 | €1,471 | -€750 | -33.8% |
| Furniture and vehicles | 24 | €2,554 | €2,620 | +€66 | +2.6% |
| Other tangible fixed assets | 26 | €27,275 | €27,761 | +€486 | +1.8% |
| Financial fixed assets | 28 | €8,250 | €8,250 | = | 0.0% |
| Current assets | 29/58 | €58,170 | €141,024 | +€82,854 | +142% |
| Stocks and contracts in progress | 3 | €35,902 | €55,962 | +€20,060 | +55.9% |
| Stocks | 30/36 | €35,902 | €55,962 | +€20,060 | +55.9% |
| Amounts receivable within one year | 40/41 | €3,993 | €3,392 | -€601 | -15.1% |
| Trade receivables | 40 | €430 | €1,797 | +€1,367 | +318% |
| Other amounts receivable | 41 | €3,563 | €1,595 | -€1,968 | -55.2% |
| Cash at bank and in hand | 54/58 | €14,531 | €77,418 | +€62,887 | +433% |
| Deferred charges and accrued income | 490/1 | €3,745 | €4,253 | +€508 | +13.6% |
| Total equity and liabilities | 10/49 | €109,981 | €190,837 | +€80,856 | +73.5% |
| Equity | 10/15 | -€66,995 | -€3,460 | +€63,536 | +94.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,995 | -€23,460 | +€63,536 | +73.0% |
| Amounts payable | 17/49 | €176,976 | €194,297 | +€17,321 | +9.8% |
| Amounts payable after more than one year | 17 | €100,000 | - | -€100,000 | |
| Other amounts payable | 178/9 | €100,000 | - | -€100,000 | |
| Amounts payable within one year | 42/48 | €73,501 | €185,847 | +€112,346 | +153% |
| Trade debts | 44 | €10,069 | €5,964 | -€4,105 | -40.8% |
| Suppliers | 440/4 | €10,069 | €5,964 | -€4,105 | -40.8% |
| Taxes, remuneration and social security | 45 | - | €3,621 | +€3,621 | |
| Taxes | 450/3 | - | €3,621 | +€3,621 | |
| Other amounts payable | 47/48 | €63,432 | €176,262 | +€112,830 | +178% |
| Accrued charges and deferred income | 492/3 | €3,475 | €8,450 | +€4,975 | +143% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,996 | €7,887 | +€5,891 | +295% |
| Other operating charges | 640/8 | €653 | - | -€653 | |
| Gross operating margin | 9900 | -€9,993 | €74,269 | +€84,262 | |
| Operating profit (loss) | 9901 | -€12,642 | €66,382 | +€79,024 | |
| Financial income | 75/76B | €86 | €255 | +€170 | +198% |
| Recurring financial income | 75 | €86 | €255 | +€170 | +198% |
| Financial charges | 65/66B | €512 | €3,102 | +€2,590 | +506% |
| Recurring financial charges | 65 | €512 | €3,102 | +€2,590 | +506% |
| Profit (loss) for the period before taxes | 9903 | -€13,068 | €63,536 | +€76,604 | |
| Profit (loss) for the period | 9904 | -€13,068 | €63,536 | +€76,604 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,068 | €63,536 | +€76,604 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.