SDVR: 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.
SDVR
Largest movements
- Cash +€508,962
up €508,962 (+57.8%), from €881,043 to €1.4m
mainly Net result for the year (+€926,609) and Depreciation (+€369,575)
- Tangible fixed assets -€348,557
down €348,557 (-39.7%), from €878,239 to €529,682
of which Plant, machinery and equipment: -€224,779
- Receivables within one year -€348,272
down €348,272 (-17.2%), from €2.0m to €1.7m
of which Other amounts receivable: -€349,812
- Deferred charges and accrued income -€50,184
down €50,184 (-52.1%), from €96,284 to €46,100
- Debts after one year -€265,250
down €265,250 (-29.8%), from €890,492 to €625,241
- Other debts +€103,609
up €103,609 (+12.2%), from €849,699 to €953,308
- Trade debts -€50,386
down €50,386 (-3.6%), from €1.4m to €1.3m
- Gross operating margin +€362,708
up €362,708 (+12.3%), from €2.9m to €3.3m
- Staff costs +€221,739
up €221,739 (+16.1%), from €1.4m to €1.6m
- Financial income -€41,865
down €41,865 (-99.9%), from €41,898 to €33
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,330,324 | €4,119,664 | -€210,660 | -4.9% |
| Fixed assets | 21/28 | €878,239 | €529,682 | -€348,557 | -39.7% |
| Tangible fixed assets | 22/27 | €878,239 | €529,682 | -€348,557 | -39.7% |
| Plant, machinery and equipment | 23 | €519,195 | €294,416 | -€224,779 | -43.3% |
| Furniture and vehicles | 24 | €15,038 | €9,089 | -€5,950 | -39.6% |
| Other tangible fixed assets | 26 | €344,005 | €226,177 | -€117,828 | -34.3% |
| Current assets | 29/58 | €3,452,085 | €3,589,982 | +€137,896 | +4.0% |
| Stocks and contracts in progress | 3 | €447,819 | €475,209 | +€27,390 | +6.1% |
| Stocks | 30/36 | €447,819 | €475,209 | +€27,390 | +6.1% |
| Amounts receivable within one year | 40/41 | €2,026,940 | €1,678,668 | -€348,272 | -17.2% |
| Trade receivables | 40 | €1,575 | €3,115 | +€1,540 | +97.8% |
| Other amounts receivable | 41 | €2,025,365 | €1,675,553 | -€349,812 | -17.3% |
| Cash at bank and in hand | 54/58 | €881,043 | €1,390,005 | +€508,962 | +57.8% |
| Deferred charges and accrued income | 490/1 | €96,284 | €46,100 | -€50,184 | -52.1% |
| Total equity and liabilities | 10/49 | €4,330,324 | €4,119,664 | -€210,660 | -4.9% |
| Equity | 10/15 | €510,000 | €510,000 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €500,000 | €500,000 | = | 0.0% |
| Distributable reserves | 133 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,820,324 | €3,609,664 | -€210,660 | -5.5% |
| Amounts payable after more than one year | 17 | €890,492 | €625,241 | -€265,250 | -29.8% |
| Financial debts | 170/4 | €890,492 | €625,241 | -€265,250 | -29.8% |
| Amounts payable within one year | 42/48 | €2,902,299 | €2,984,423 | +€82,123 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €264,986 | €265,250 | +€264 | +0.1% |
| Trade debts | 44 | €1,397,683 | €1,347,297 | -€50,386 | -3.6% |
| Suppliers | 440/4 | €1,397,683 | €1,347,297 | -€50,386 | -3.6% |
| Taxes, remuneration and social security | 45 | €389,932 | €418,568 | +€28,636 | +7.3% |
| Taxes | 450/3 | €169,123 | €170,704 | +€1,581 | +0.9% |
| Remuneration and social security | 454/9 | €220,808 | €247,864 | +€27,055 | +12.3% |
| Other amounts payable | 47/48 | €849,699 | €953,308 | +€103,609 | +12.2% |
| Accrued charges and deferred income | 492/3 | €27,533 | €0 | -€27,533 | -100.0% |
| Non-recurring operating income | 76A | €12,765 | €0 | -€12,765 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,378,264 | €1,600,003 | +€221,739 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €364,717 | €369,575 | +€4,858 | +1.3% |
| Other operating charges | 640/8 | €32,204 | €3,997 | -€28,207 | -87.6% |
| Non-recurring operating charges | 66A | €0 | €2,973 | +€2,973 | |
| Gross operating margin | 9900 | €2,946,997 | €3,309,705 | +€362,708 | +12.3% |
| Operating profit (loss) | 9901 | €1,171,812 | €1,333,156 | +€161,344 | +13.8% |
| Financial income | 75/76B | €41,898 | €33 | -€41,865 | -99.9% |
| Recurring financial income | 75 | €41,898 | €33 | -€41,865 | -99.9% |
| Financial charges | 65/66B | €57,915 | €76,506 | +€18,591 | +32.1% |
| Recurring financial charges | 65 | €57,915 | €76,506 | +€18,591 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €1,155,795 | €1,256,683 | +€100,888 | +8.7% |
| Income taxes | 67/77 | €306,097 | €330,074 | +€23,978 | +7.8% |
| Profit (loss) for the period | 9904 | €849,699 | €926,609 | +€76,911 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €849,699 | €926,609 | +€76,911 | +9.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.