SNDQ: 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.
SNDQ
Largest movements
- Cash -€142,037
down €142,037 (-83.5%), from €170,020 to €27,983
mainly Net result for the year (-€283,211) and Investment in fixed assets (net) (-€247,324)
- Profit (loss) carried forward -€283,212
down €283,212 (-64.3%), from -€440,401 to -€723,613
- Debts after one year +€94,617
up €94,617 (+14.9%), from €633,400 to €728,017
- Other debts +€38,047
up €38,047 (+20.6%), from €184,609 to €222,656
- Short-term financial debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts -€20,591
down €20,591 (-47.8%), from €43,099 to €22,508
of which Remuneration and social security: -€29,174
- Depreciation +€186,054
up €186,054 (+342%), from €54,457 to €240,511
- Staff costs -€78,041
down €78,041 (-55.5%), from €140,544 to €62,504
- Gross operating margin -€22,873
down €22,873 (-36.3%), from €62,959 to €40,086
- Other operating charges +€13,088
up €13,088 (+825%), from €1,586 to €14,674
- Financial charges -€2,570
down €2,570 (-31.4%), from €8,179 to €5,609
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 | €910,796 | €784,969 | -€125,827 | -13.8% |
| Fixed assets | 21/28 | €720,725 | €727,538 | +€6,813 | +0.9% |
| Intangible fixed assets | 21 | €719,254 | €727,238 | +€7,984 | +1.1% |
| Tangible fixed assets | 22/27 | €571 | €0 | -€571 | -100% |
| Furniture and vehicles | 24 | €571 | €0 | -€571 | -100% |
| Financial fixed assets | 28 | €900 | €300 | -€600 | -66.7% |
| Current assets | 29/58 | €190,071 | €57,432 | -€132,639 | -69.8% |
| Amounts receivable within one year | 40/41 | €20,050 | €25,898 | +€5,848 | +29.2% |
| Trade receivables | 40 | €8,050 | €25,898 | +€17,848 | +222% |
| Other amounts receivable | 41 | €12,000 | - | -€12,000 | |
| Cash at bank and in hand | 54/58 | €170,020 | €27,983 | -€142,037 | -83.5% |
| Deferred charges and accrued income | 490/1 | €0 | €3,550 | +€3,550 | |
| Total equity and liabilities | 10/49 | €910,796 | €784,969 | -€125,827 | -13.8% |
| Equity | 10/15 | €35,099 | -€248,113 | -€283,212 | |
| Contributions | 10/11 | €475,500 | €475,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,401 | -€723,613 | -€283,212 | -64.3% |
| Amounts payable | 17/49 | €875,697 | €1,033,082 | +€157,385 | +18.0% |
| Amounts payable after more than one year | 17 | €633,400 | €728,017 | +€94,617 | +14.9% |
| Financial debts | 170/4 | €633,400 | €728,017 | +€94,617 | +14.9% |
| Amounts payable within one year | 42/48 | €242,297 | €296,334 | +€54,038 | +22.3% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Other loans | 439 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €12,590 | €24,171 | +€11,581 | +92.0% |
| Suppliers | 440/4 | €12,590 | €24,171 | +€11,581 | +92.0% |
| Advances received on contracts in progress | 46 | €2,000 | €2,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €43,099 | €22,508 | -€20,591 | -47.8% |
| Taxes | 450/3 | €5,344 | €13,927 | +€8,583 | +161% |
| Remuneration and social security | 454/9 | €37,754 | €8,581 | -€29,174 | -77.3% |
| Other amounts payable | 47/48 | €184,609 | €222,656 | +€38,047 | +20.6% |
| Accrued charges and deferred income | 492/3 | - | €8,731 | +€8,731 | |
| Remuneration, social security and pensions | 62 | €140,544 | €62,504 | -€78,041 | -55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,457 | €240,511 | +€186,054 | +342% |
| Other operating charges | 640/8 | €1,586 | €14,674 | +€13,088 | +825% |
| Gross operating margin | 9900 | €62,959 | €40,086 | -€22,873 | -36.3% |
| Operating profit (loss) | 9901 | -€133,628 | -€277,603 | -€143,975 | -108% |
| Financial charges | 65/66B | €8,179 | €5,609 | -€2,570 | -31.4% |
| Recurring financial charges | 65 | €8,179 | €5,609 | -€2,570 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | -€141,807 | -€283,211 | -€141,404 | -99.7% |
| Profit (loss) for the period | 9904 | -€141,807 | -€283,211 | -€141,404 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€141,807 | -€283,211 | -€141,404 | -99.7% |
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 16 October 2026 via checked.be.