SDWSERVICES: 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.
SDWSERVICES
Largest movements
- Cash +€18,167
up €18,167 (+55.3%), from €32,838 to €51,005
mainly Net result for the year (+€45,456) and Trade debts (+€25,790)
- Tangible fixed assets -€16,142
down €16,142 (-42.9%), from €37,619 to €21,477
of which Furniture and vehicles: -€13,586
- Deferred charges and accrued income +€15,606
up €15,606 (+202%), from €7,716 to €23,322
- Receivables within one year +€15,333
up €15,333 (+99.8%), from €15,356 to €30,688
of which Trade receivables: +€15,280
- Trade debts +€25,790
up €25,790 (+1,712%), from €1,506 to €27,296
- Reserves +€13,610
up €13,610 (+16.4%), from €82,901 to €96,511
- Tax, wage and social debts +€6,837
up €6,837 (+41.3%), from €16,565 to €23,402
of which Taxes: +€8,798
- Current portion of long-term debt -€5,840
down €5,840 (-48.0%), from €12,175 to €6,336
- Debts after one year -€5,829
down €5,829 (-56.4%), from €10,330 to €4,501
- Gross operating margin +€22,037
up €22,037 (+40.7%), from €54,109 to €76,145
- Taxes +€10,131
up €10,131 (+110%), from €9,245 to €19,376
- Depreciation -€5,170
down €5,170 (-35.0%), from €14,757 to €9,587
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 | €128,929 | €161,892 | +€32,963 | +25.6% |
| Fixed assets | 21/28 | €37,619 | €21,477 | -€16,142 | -42.9% |
| Tangible fixed assets | 22/27 | €37,619 | €21,477 | -€16,142 | -42.9% |
| Land and buildings | 22 | €11,599 | €9,043 | -€2,557 | -22.0% |
| Furniture and vehicles | 24 | €26,020 | €12,434 | -€13,586 | -52.2% |
| Current assets | 29/58 | €91,309 | €140,415 | +€49,105 | +53.8% |
| Amounts receivable within one year | 40/41 | €15,356 | €30,688 | +€15,333 | +99.8% |
| Trade receivables | 40 | €14,429 | €29,709 | +€15,280 | +106% |
| Other amounts receivable | 41 | €927 | €980 | +€53 | +5.7% |
| Current investments | 50/53 | €35,400 | €35,400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,838 | €51,005 | +€18,167 | +55.3% |
| Deferred charges and accrued income | 490/1 | €7,716 | €23,322 | +€15,606 | +202% |
| Total equity and liabilities | 10/49 | €128,929 | €161,892 | +€32,963 | +25.6% |
| Equity | 10/15 | €85,901 | €99,511 | +€13,610 | +15.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €82,901 | €96,511 | +€13,610 | +16.4% |
| Distributable reserves | 133 | €82,901 | €96,511 | +€13,610 | +16.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,028 | €62,381 | +€19,353 | +45.0% |
| Amounts payable after more than one year | 17 | €10,330 | €4,501 | -€5,829 | -56.4% |
| Financial debts | 170/4 | €10,330 | €4,501 | -€5,829 | -56.4% |
| Amounts payable within one year | 42/48 | €32,605 | €57,880 | +€25,275 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €12,175 | €6,336 | -€5,840 | -48.0% |
| Trade debts | 44 | €1,506 | €27,296 | +€25,790 | +1,712% |
| Suppliers | 440/4 | €1,506 | €27,296 | +€25,790 | +1,712% |
| Taxes, remuneration and social security | 45 | €16,565 | €23,402 | +€6,837 | +41.3% |
| Taxes | 450/3 | €14,604 | €23,402 | +€8,798 | +60.2% |
| Remuneration and social security | 454/9 | €1,961 | €0 | -€1,961 | -100% |
| Other amounts payable | 47/48 | €2,358 | €846 | -€1,512 | -64.1% |
| Accrued charges and deferred income | 492/3 | €93 | €1 | -€93 | -99.3% |
| Non-recurring operating income | 76A | - | €2,816 | +€2,816 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,757 | €9,587 | -€5,170 | -35.0% |
| Other operating charges | 640/8 | €1,047 | €889 | -€158 | -15.1% |
| Gross operating margin | 9900 | €54,109 | €76,145 | +€22,037 | +40.7% |
| Operating profit (loss) | 9901 | €38,304 | €65,669 | +€27,365 | +71.4% |
| Financial income | 75/76B | €574 | €0 | -€574 | -100% |
| Recurring financial income | 75 | €574 | €0 | -€574 | -100% |
| Financial charges | 65/66B | €1,109 | €837 | -€272 | -24.5% |
| Recurring financial charges | 65 | €1,109 | €837 | -€272 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €37,769 | €64,832 | +€27,063 | +71.7% |
| Income taxes | 67/77 | €9,245 | €19,376 | +€10,131 | +110% |
| Profit (loss) for the period | 9904 | €28,524 | €45,456 | +€16,932 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,524 | €45,456 | +€16,932 | +59.4% |
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 13 October 2026 via checked.be.