SEDRI: 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.
SEDRI
Largest movements
- Receivables within one year +€5,690
up €5,690 (+5.2%), from €109,454 to €115,143
of which Trade receivables: +€28,667
- Tangible fixed assets -€4,879
down €4,879 (-24.6%), from €19,799 to €14,920
of which Plant, machinery and equipment: -€2,607
- Other debts +€31,736
new in 2025: €31,736
- Short-term financial debts -€26,376
down €26,376 (-53.3%), from €49,484 to €23,108
- Profit (loss) carried forward -€7,287
down €7,287 (-10.3%), from -€70,847 to -€78,134
- Trade debts +€2,962
up €2,962 (+5.1%), from €58,329 to €61,291
- Staff costs +€11,244
up €11,244 (+202%), from €5,561 to €16,805
- Gross operating margin +€6,587
up €6,587 (+53.3%), from €12,353 to €18,940
- Taxes -€5,556
down €5,556, from €563 to -€4,994
- Depreciation -€2,444
down €2,444 (-28.3%), from €8,640 to €6,196
- Other operating charges +€582
up €582 (+184%), from €316 to €898
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 | €154,970 | €155,781 | +€811 | +0.5% |
| Fixed assets | 21/28 | €20,004 | €15,125 | -€4,879 | -24.4% |
| Tangible fixed assets | 22/27 | €19,799 | €14,920 | -€4,879 | -24.6% |
| Plant, machinery and equipment | 23 | €13,168 | €10,561 | -€2,607 | -19.8% |
| Furniture and vehicles | 24 | €6,631 | €4,359 | -€2,272 | -34.3% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €134,966 | €140,656 | +€5,690 | +4.2% |
| Amounts receivable within one year | 40/41 | €109,454 | €115,143 | +€5,690 | +5.2% |
| Trade receivables | 40 | €73,824 | €102,491 | +€28,667 | +38.8% |
| Other amounts receivable | 41 | €35,630 | €12,652 | -€22,977 | -64.5% |
| Cash at bank and in hand | 54/58 | €25,512 | €25,512 | = | 0.0% |
| Total equity and liabilities | 10/49 | €154,970 | €155,781 | +€811 | +0.5% |
| Equity | 10/15 | €33,345 | €26,058 | -€7,287 | -21.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €42,219 | €42,219 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €36,021 | €36,021 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,847 | -€78,134 | -€7,287 | -10.3% |
| Amounts payable | 17/49 | €121,625 | €129,723 | +€8,098 | +6.7% |
| Amounts payable within one year | 42/48 | €121,625 | €129,549 | +€7,924 | +6.5% |
| Financial debts | 43 | €49,484 | €23,108 | -€26,376 | -53.3% |
| Credit institutions | 430/8 | €49,484 | €23,108 | -€26,376 | -53.3% |
| Trade debts | 44 | €58,329 | €61,291 | +€2,962 | +5.1% |
| Suppliers | 440/4 | €58,329 | €61,291 | +€2,962 | +5.1% |
| Advances received on contracts in progress | 46 | €11,252 | €11,252 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,559 | €2,162 | -€397 | -15.5% |
| Taxes | 450/3 | €2,559 | - | -€2,559 | |
| Remuneration and social security | 454/9 | - | €2,162 | +€2,162 | |
| Other amounts payable | 47/48 | - | €31,736 | +€31,736 | |
| Accrued charges and deferred income | 492/3 | - | €174 | +€174 | |
| Remuneration, social security and pensions | 62 | €5,561 | €16,805 | +€11,244 | +202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,640 | €6,196 | -€2,444 | -28.3% |
| Other operating charges | 640/8 | €316 | €898 | +€582 | +184% |
| Gross operating margin | 9900 | €12,353 | €18,940 | +€6,587 | +53.3% |
| Operating profit (loss) | 9901 | -€2,164 | -€4,959 | -€2,795 | -129% |
| Financial income | 75/76B | €25 | €12 | -€13 | -50.8% |
| Recurring financial income | 75 | €25 | €12 | -€13 | -50.8% |
| Financial charges | 65/66B | €7,182 | €7,334 | +€152 | +2.1% |
| Recurring financial charges | 65 | €7,182 | €7,334 | +€152 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,320 | -€12,281 | -€2,960 | -31.8% |
| Income taxes | 67/77 | €563 | -€4,994 | -€5,556 | |
| Profit (loss) for the period | 9904 | -€9,883 | -€7,287 | +€2,596 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,883 | -€7,287 | +€2,596 | +26.3% |
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 20 October 2026 via checked.be.