SDW Advocaat: 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.
SDW Advocaat
Largest movements
- Receivables within one year -€91,202
down €91,202 (-11.0%), from €825,718 to €734,516
of which Trade receivables: -€99,737
- Cash -€80,704
down €80,704 (-58.5%), from €137,966 to €57,261
mainly Contributions, distributions and other (-€565,000) and Tax, wage and social debts (-€150,297)
- Tangible fixed assets -€14,365
down €14,365 (-28.8%), from €49,864 to €35,499
- Tax, wage and social debts -€150,297
down €150,297 (-96.4%), from €155,899 to €5,602
- Other debts -€35,920
down €35,920 (-4.4%), from €812,214 to €776,293
- Gross operating margin -€242,935
down €242,935 (-23.8%), from €1.0m to €776,740
- Taxes -€60,167
down €60,167 (-23.9%), from €251,631 to €191,465
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 | €1,016,041 | €829,913 | -€186,128 | -18.3% |
| Fixed assets | 21/28 | €49,864 | €35,499 | -€14,365 | -28.8% |
| Tangible fixed assets | 22/27 | €49,864 | €35,499 | -€14,365 | -28.8% |
| Furniture and vehicles | 24 | €49,864 | €35,499 | -€14,365 | -28.8% |
| Current assets | 29/58 | €966,177 | €794,414 | -€171,763 | -17.8% |
| Amounts receivable within one year | 40/41 | €825,718 | €734,516 | -€91,202 | -11.0% |
| Trade receivables | 40 | €825,718 | €725,980 | -€99,737 | -12.1% |
| Other amounts receivable | 41 | - | €8,535 | +€8,535 | |
| Cash at bank and in hand | 54/58 | €137,966 | €57,261 | -€80,704 | -58.5% |
| Deferred charges and accrued income | 490/1 | €2,493 | €2,637 | +€143 | +5.7% |
| Total equity and liabilities | 10/49 | €1,016,041 | €829,913 | -€186,128 | -18.3% |
| Equity | 10/15 | €30,710 | €30,194 | -€516 | -1.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €710 | €194 | -€516 | -72.6% |
| Amounts payable | 17/49 | €985,331 | €799,719 | -€185,612 | -18.8% |
| Amounts payable within one year | 42/48 | €985,331 | €799,719 | -€185,612 | -18.8% |
| Trade debts | 44 | €2,699 | €3,304 | +€605 | +22.4% |
| Suppliers | 440/4 | €2,699 | €3,304 | +€605 | +22.4% |
| Advances received on contracts in progress | 46 | €14,520 | €14,520 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €155,899 | €5,602 | -€150,297 | -96.4% |
| Taxes | 450/3 | €155,899 | €5,602 | -€150,297 | -96.4% |
| Other amounts payable | 47/48 | €812,214 | €776,293 | -€35,920 | -4.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,796 | €14,365 | -€431 | -2.9% |
| Other operating charges | 640/8 | €2,316 | €6,095 | +€3,779 | +163% |
| Gross operating margin | 9900 | €1,019,675 | €776,740 | -€242,935 | -23.8% |
| Operating profit (loss) | 9901 | €1,002,563 | €756,280 | -€246,283 | -24.6% |
| Financial income | 75/76B | €11 | €72 | +€61 | +551% |
| Recurring financial income | 75 | €11 | €72 | +€61 | +551% |
| Financial charges | 65/66B | €0 | €403 | +€403 | |
| Recurring financial charges | 65 | €0 | €403 | +€403 | |
| Profit (loss) for the period before taxes | 9903 | €1,002,574 | €755,949 | -€246,625 | -24.6% |
| Income taxes | 67/77 | €251,631 | €191,465 | -€60,167 | -23.9% |
| Profit (loss) for the period | 9904 | €750,943 | €564,484 | -€186,459 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €750,943 | €564,484 | -€186,459 | -24.8% |
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 25 October 2026 via checked.be.