SDTE: 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.
SDTE
Largest movements
- Tangible fixed assets -€27,983
down €27,983 (-9.4%), from €296,919 to €268,936
of which Land and buildings: -€15,193
- Receivables after one year -€25,035
down €25,035 (-24.0%), from €104,330 to €79,294
- Deferred charges and accrued income +€5,053
up €5,053 (+677.2%), from €746 to €5,799
- Cash -€4,696
down €4,696 (-88.1%), from €5,331 to €635
mainly Net result for the year (-€41,299) and Debts after one year (-€31,487)
- Profit (loss) carried forward -€41,299
down €41,299 (-39.1%), from €105,540 to €64,241
- Debts after one year -€31,487
down €31,487 (-23.6%), from €133,653 to €102,166
- Trade debts +€21,399
up €21,399 (+22.1%), from €96,888 to €118,288
- Other debts -€8,074
down €8,074 (-51.3%), from €15,727 to €7,653
- Tax, wage and social debts +€5,555
up €5,555 (+20.7%), from €26,892 to €32,447
of which Remuneration and social security: +€7,311
- Staff costs +€45,871
up €45,871 (+72.5%), from €63,281 to €109,152
- Gross operating margin -€45,302
down €45,302 (-30.3%), from €149,743 to €104,441
- Other operating charges -€27,576
down €27,576 (-93.5%), from €29,507 to €1,931
- Taxes -€10,547
down €10,547 (-97.7%), from €10,796 to €249
- Depreciation +€5,382
up €5,382 (+23.8%), from €22,601 to €27,983
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 | €433,147 | €379,831 | -€53,315 | -12.3% |
| Fixed assets | 21/28 | €296,969 | €270,236 | -€26,733 | -9.0% |
| Tangible fixed assets | 22/27 | €296,919 | €268,936 | -€27,983 | -9.4% |
| Land and buildings | 22 | €253,757 | €238,563 | -€15,193 | -6.0% |
| Plant, machinery and equipment | 23 | €7,139 | €5,670 | -€1,469 | -20.6% |
| Furniture and vehicles | 24 | €36,024 | €24,703 | -€11,320 | -31.4% |
| Financial fixed assets | 28 | €50 | €1,300 | +€1,250 | +2500.0% |
| Current assets | 29/58 | €136,178 | €109,595 | -€26,583 | -19.5% |
| Amounts receivable after more than one year | 29 | €104,330 | €79,294 | -€25,035 | -24.0% |
| Other amounts receivable | 291 | €104,330 | €79,294 | -€25,035 | -24.0% |
| Amounts receivable within one year | 40/41 | €25,770 | €23,866 | -€1,904 | -7.4% |
| Trade receivables | 40 | €25,770 | €5,675 | -€20,095 | -78.0% |
| Other amounts receivable | 41 | - | €18,191 | +€18,191 | |
| Cash at bank and in hand | 54/58 | €5,331 | €635 | -€4,696 | -88.1% |
| Deferred charges and accrued income | 490/1 | €746 | €5,799 | +€5,053 | +677.2% |
| Total equity and liabilities | 10/49 | €433,147 | €379,831 | -€53,315 | -12.3% |
| Equity | 10/15 | €129,090 | €87,791 | -€41,299 | -32.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,540 | €64,241 | -€41,299 | -39.1% |
| Amounts payable | 17/49 | €304,056 | €292,041 | -€12,016 | -4.0% |
| Amounts payable after more than one year | 17 | €133,653 | €102,166 | -€31,487 | -23.6% |
| Financial debts | 170/4 | €133,653 | €102,166 | -€31,487 | -23.6% |
| Amounts payable within one year | 42/48 | €170,404 | €189,874 | +€19,471 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €30,897 | €31,487 | +€590 | +1.9% |
| Trade debts | 44 | €96,888 | €118,288 | +€21,399 | +22.1% |
| Suppliers | 440/4 | €96,888 | €118,288 | +€21,399 | +22.1% |
| Taxes, remuneration and social security | 45 | €26,892 | €32,447 | +€5,555 | +20.7% |
| Taxes | 450/3 | €9,413 | €7,658 | -€1,755 | -18.6% |
| Remuneration and social security | 454/9 | €17,478 | €24,789 | +€7,311 | +41.8% |
| Other amounts payable | 47/48 | €15,727 | €7,653 | -€8,074 | -51.3% |
| Remuneration, social security and pensions | 62 | €63,281 | €109,152 | +€45,871 | +72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,601 | €27,983 | +€5,382 | +23.8% |
| Other operating charges | 640/8 | €29,507 | €1,931 | -€27,576 | -93.5% |
| Gross operating margin | 9900 | €149,743 | €104,441 | -€45,302 | -30.3% |
| Operating profit (loss) | 9901 | €34,354 | -€34,624 | -€68,978 | |
| Financial income | 75/76B | €3,831 | €2,515 | -€1,316 | -34.4% |
| Recurring financial income | 75 | €3,831 | €2,515 | -€1,316 | -34.4% |
| Financial charges | 65/66B | €5,527 | €8,941 | +€3,414 | +61.8% |
| Recurring financial charges | 65 | €5,527 | €8,941 | +€3,414 | +61.8% |
| Profit (loss) for the period before taxes | 9903 | €32,658 | -€41,050 | -€73,709 | |
| Income taxes | 67/77 | €10,796 | €249 | -€10,547 | -97.7% |
| Profit (loss) for the period | 9904 | €21,863 | -€41,299 | -€63,162 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,863 | -€41,299 | -€63,162 |
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 9 October 2026 via checked.be.