SKD MANAGEMENT: 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.
SKD MANAGEMENT
Largest movements
- Current investments +€56,089
up €56,089 (+27.5%), from €204,027 to €260,116
- Tangible fixed assets -€52,212
down €52,212 (-22.1%), from €235,895 to €183,683
- Cash +€5,318
up €5,318 (+25.9%), from €20,497 to €25,815
mainly Other debts (+€280,000) and Depreciation (+€52,212)
- Other debts +€280,000
new in 2025: €280,000
- Reserves -€271,397
down €271,397 (-61.5%), from €441,419 to €170,021
- Depreciation -€2,606
down €2,606 (-4.8%), from €54,818 to €52,212
- Financial income +€1,669
up €1,669 (+108%), from €1,551 to €3,219
- Taxes +€1,356
up €1,356 (+85.3%), from €1,591 to €2,947
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 | €461,836 | €470,541 | +€8,705 | +1.9% |
| Fixed assets | 21/28 | €235,895 | €183,683 | -€52,212 | -22.1% |
| Tangible fixed assets | 22/27 | €235,895 | €183,683 | -€52,212 | -22.1% |
| Land and buildings | 22 | €235,895 | €183,683 | -€52,212 | -22.1% |
| Current assets | 29/58 | €225,940 | €286,858 | +€60,917 | +27.0% |
| Amounts receivable within one year | 40/41 | €1,145 | €646 | -€498 | -43.5% |
| Trade receivables | 40 | €775 | €379 | -€396 | -51.1% |
| Other amounts receivable | 41 | €370 | €268 | -€102 | -27.6% |
| Current investments | 50/53 | €204,027 | €260,116 | +€56,089 | +27.5% |
| Cash at bank and in hand | 54/58 | €20,497 | €25,815 | +€5,318 | +25.9% |
| Deferred charges and accrued income | 490/1 | €271 | €280 | +€9 | +3.2% |
| Total equity and liabilities | 10/49 | €461,836 | €470,541 | +€8,705 | +1.9% |
| Equity | 10/15 | €461,419 | €190,021 | -€271,397 | -58.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €441,419 | €170,021 | -€271,397 | -61.5% |
| Distributable reserves | 133 | €441,419 | €170,021 | -€271,397 | -61.5% |
| Amounts payable | 17/49 | €417 | €280,520 | +€280,103 | +67,116% |
| Amounts payable within one year | 42/48 | €417 | €280,520 | +€280,103 | +67,116% |
| Trade debts | 44 | €417 | €30 | -€387 | -92.8% |
| Suppliers | 440/4 | €417 | €30 | -€387 | -92.8% |
| Taxes, remuneration and social security | 45 | - | €490 | +€490 | |
| Taxes | 450/3 | - | €490 | +€490 | |
| Other amounts payable | 47/48 | - | €280,000 | +€280,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,818 | €52,212 | -€2,606 | -4.8% |
| Other operating charges | 640/8 | €8,282 | €7,711 | -€571 | -6.9% |
| Gross operating margin | 9900 | €67,962 | €68,335 | +€373 | +0.5% |
| Operating profit (loss) | 9901 | €4,862 | €8,412 | +€3,549 | +73.0% |
| Financial income | 75/76B | €1,551 | €3,219 | +€1,669 | +108% |
| Recurring financial income | 75 | €1,551 | €3,219 | +€1,669 | +108% |
| Financial charges | 65/66B | €30 | €81 | +€51 | +167% |
| Recurring financial charges | 65 | €30 | €81 | +€51 | +167% |
| Profit (loss) for the period before taxes | 9903 | €6,382 | €11,550 | +€5,167 | +81.0% |
| Income taxes | 67/77 | €1,591 | €2,947 | +€1,356 | +85.3% |
| Profit (loss) for the period | 9904 | €4,792 | €8,603 | +€3,811 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,792 | €8,603 | +€3,811 | +79.5% |
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.