SDSN: 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.
SDSN
Largest movements
- Tangible fixed assets -€77,590
down €77,590 (-16.6%), from €468,645 to €391,055
of which Land and buildings: -€48,572
- Debts after one year -€66,591
down €66,591 (-24.5%), from €271,694 to €205,103
- Other debts -€8,001
down €8,001 (-12.6%), from €63,275 to €55,274
- Tax, wage and social debts -€7,355
down €7,355 (-69.1%), from €10,642 to €3,288
of which Taxes: -€7,898
- Financial income -€11,843
down €11,843 (-85.4%), from €13,864 to €2,020
of which Non-recurring financial income: -€13,000
- Staff costs +€7,117
new in 2025: €7,117
- Gross operating margin +€4,800
up €4,800 (+3.3%), from €147,473 to €152,273
- Taxes -€3,579
down €3,579 (-18.8%), from €19,032 to €15,454
- Depreciation +€3,269
up €3,269 (+3.9%), from €83,603 to €86,872
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 | €614,802 | €536,865 | -€77,936 | -12.7% |
| Fixed assets | 21/28 | €468,645 | €391,055 | -€77,590 | -16.6% |
| Tangible fixed assets | 22/27 | €468,645 | €391,055 | -€77,590 | -16.6% |
| Land and buildings | 22 | €371,383 | €322,811 | -€48,572 | -13.1% |
| Plant, machinery and equipment | 23 | €47,816 | €31,301 | -€16,515 | -34.5% |
| Furniture and vehicles | 24 | €49,446 | €36,943 | -€12,503 | -25.3% |
| Current assets | 29/58 | €146,157 | €145,810 | -€346 | -0.2% |
| Amounts receivable within one year | 40/41 | €1,300 | €103 | -€1,197 | -92.1% |
| Trade receivables | 40 | €1,300 | €103 | -€1,197 | -92.1% |
| Cash at bank and in hand | 54/58 | €134,274 | €135,450 | +€1,176 | +0.9% |
| Deferred charges and accrued income | 490/1 | €10,583 | €10,258 | -€325 | -3.1% |
| Total equity and liabilities | 10/49 | €614,802 | €536,865 | -€77,936 | -12.7% |
| Equity | 10/15 | €184,465 | €187,302 | +€2,837 | +1.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €188,143 | €190,980 | +€2,837 | +1.5% |
| Distributable reserves | 133 | €188,143 | €190,980 | +€2,837 | +1.5% |
| Profit (loss) carried forward | 14 | -€9,878 | -€9,878 | = | 0.0% |
| Amounts payable | 17/49 | €430,336 | €349,563 | -€80,773 | -18.8% |
| Amounts payable after more than one year | 17 | €271,694 | €205,103 | -€66,591 | -24.5% |
| Financial debts | 170/4 | €271,694 | €205,103 | -€66,591 | -24.5% |
| Amounts payable within one year | 42/48 | €155,895 | €138,096 | -€17,799 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €67,266 | €66,591 | -€675 | -1.0% |
| Financial debts | 43 | - | €4,000 | +€4,000 | |
| Credit institutions | 430/8 | - | €4,000 | +€4,000 | |
| Trade debts | 44 | €14,712 | €8,943 | -€5,768 | -39.2% |
| Suppliers | 440/4 | €14,712 | €8,943 | -€5,768 | -39.2% |
| Taxes, remuneration and social security | 45 | €10,642 | €3,288 | -€7,355 | -69.1% |
| Taxes | 450/3 | €10,642 | €2,744 | -€7,898 | -74.2% |
| Remuneration and social security | 454/9 | - | €543 | +€543 | |
| Other amounts payable | 47/48 | €63,275 | €55,274 | -€8,001 | -12.6% |
| Accrued charges and deferred income | 492/3 | €2,747 | €6,364 | +€3,617 | +131.7% |
| Remuneration, social security and pensions | 62 | - | €7,117 | +€7,117 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,603 | €86,872 | +€3,269 | +3.9% |
| Other operating charges | 640/8 | €6,451 | €5,364 | -€1,087 | -16.8% |
| Gross operating margin | 9900 | €147,473 | €152,273 | +€4,800 | +3.3% |
| Operating profit (loss) | 9901 | €57,419 | €52,920 | -€4,499 | -7.8% |
| Financial income | 75/76B | €13,864 | €2,020 | -€11,843 | -85.4% |
| Recurring financial income | 75 | €864 | €2,020 | +€1,157 | +134.0% |
| Non-recurring financial income | 76B | €13,000 | €0 | -€13,000 | -100.0% |
| Financial charges | 65/66B | €13,631 | €11,999 | -€1,631 | -12.0% |
| Recurring financial charges | 65 | €13,631 | €11,999 | -€1,631 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €57,652 | €42,941 | -€14,711 | -25.5% |
| Income taxes | 67/77 | €19,032 | €15,454 | -€3,579 | -18.8% |
| Profit (loss) for the period | 9904 | €38,620 | €27,487 | -€11,133 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,620 | €27,487 | -€11,133 | -28.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.