SD (0535.592.032): financials and annual accounts

Brussels ·KBO/BCE: BE 0535.592.032

Line	2026	2025	2024	2023	2022	2021	2020	2019	2018
Balance sheet: assets
Total assets`20/58`	97,304	72,995	54,262	43,998	42,085	27,893	27,687	95,026	60,930
Fixed assets`21/28`	41,294	23,002	5,949	7,932	12,981	13,352	13,352	12,981	11,066
Tangible fixed assets`22/27`	41,294	23,002	5,949	7,932	12,981	13,352	13,352	12,981	11,066
Furniture and vehicles`24`	41,294	23,002	5,949	7,932	12,981	13,352	13,352	12,981	11,066
Current assets`29/58`	56,010	49,994	48,313	36,066	29,103	14,541	14,335	82,045	49,863
Amounts receivable within one year`40/41`	31,236	33,701	31,843	15,071	6,909	4,691	12,942	82,045	49,863
Trade receivables`40`	6,491	9,049	12,848	6,249	6,909	4,691	12,852	72,349	45,130
Other amounts receivable`41`	24,745	24,651	18,995	8,822	-	-	90	9,696	4,733
Cash at bank and in hand`54/58`	14,785	6,304	6,482	11,007	12,205	9,850	1,392	-	-
Deferred charges and accrued income`490/1`	9,989	9,989	9,989	9,989	9,989	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	97,304	72,995	54,262	43,998	42,085	27,893	27,687	95,026	60,930
Equity`10/15`	52,292	49,968	48,541	38,624	33,090	21,689	5,789	1,097	-2,457
Contributions`10/11`	100	100	100	100	100	100	100	100	100
Capital`10`	100	100	100	100	100	-	-	-	-
Issued capital`100`	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500	18,500
Profit (loss) carried forward`14`	52,192	49,868	48,441	38,524	32,990	21,589	5,689	997	-2,557
Amounts payable`17/49`	45,012	23,027	5,721	5,374	8,995	6,204	21,898	93,929	63,386
Amounts payable after more than one year`17`	31,782	18,587	-	-	-	-	-	-	-
Financial debts`170/4`	31,782	18,587	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	13,230	4,441	5,721	5,374	8,995	6,204	21,898	93,929	63,386
Current portion of amounts payable after more than one year`42`	10,608	4,083	-	-	-	-	-	-	-
Trade debts`44`	35	194	634	3,069	6,309	4,704	692	76,965	53,471
Suppliers`440/4`	35	194	634	3,069	6,309	4,704	692	76,965	53,471
Taxes, remuneration and social security`45`	2,588	163	5,087	2,305	2,446	1,500	21,205	16,964	9,915
Taxes`450/3`	2,588	163	5,087	2,305	2,446	1,500	20,535	16,964	9,915
Remuneration and social security`454/9`	-	-	-	-	-	-	670	-	-
Other amounts payable`47/48`	-	-	-	-	240	-	-	-	-
Income statement
Gross operating margin`9900`	18,912	7,191	17,546	15,251	12,060	15,900	4,692	11,990	2,015
Remuneration, social security and pensions`62`	-	-	-	-	-	-	-	437	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	6,849	2,639	1,983	5,049	-	-	-	8,000	2,767
Other operating charges`640/8`	477	75	231	420	495	-	-	-	342
Non-recurring operating charges`66A`	3,139	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	8,447	4,476	15,332	9,781	11,565	15,900	4,692	3,554	-1,094
Financial charges`65/66B`	2,059	628	316	275	164	-	-	-	-
Recurring financial charges`65`	2,059	628	316	275	164	-	-	-	-
Profit (loss) for the period before taxes`9903`	6,387	3,848	15,017	9,506	11,401	15,900	4,692	3,554	-1,094
Income taxes`67/77`	4,064	2,421	5,100	3,972	-	-	-	-	-
Profit (loss) for the period`9904`	2,324	1,427	9,917	5,534	11,401	15,900	4,692	3,554	-1,094
Profit (loss) for the period to be appropriated`9905`	2,324	1,427	9,917	5,534	11,401	15,900	4,692	3,554	-1,094
Appropriation of the result
Profit (loss) to be appropriated`9906`	52,192	49,868	48,441	38,524	32,990	21,589	5,689	997	-2,557
Profit (loss) brought forward from the previous period`14P`	49,868	48,441	38,524	32,990	21,589	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-03-2026	abbreviated format	03-09-2026	2026-00502093	PDF
31-03-2025	micro format	03-06-2025	2025-00121366	PDF
31-03-2024	micro format	24-06-2024	2024-00161188	PDF
31-03-2023	micro format	25-06-2023	2023-00154720	PDF
31-03-2022	micro format	14-09-2022	2022-20428890	PDF
31-03-2021	micro format	21-02-2022	2022-06000480	PDF
31-03-2020	micro format	04-02-2021	2021-04700138	PDF
31-03-2019	full format	04-02-2021	2021-04700157	PDF
31-03-2018	full format	29-08-2019	2019-60900082	PDF

Line	2026	2025	2024	2023	2022	2021	2020	2019	2018
EBITDA	15,296	7,116	17,315	14,831	-	-	-	11,554	1,673
Cash flow	9,173	4,066	11,900	10,584	-	-	-	11,554	1,673
Investment in fixed assets (approximation)	35,056	19,692	0	0	-	-	13,352	1,915	11,066
Change in cash	8,480	-178	-4,525	-1,199	2,356	8,458	-	-	-
Working capital	42,779	45,553	42,592	30,692	20,109	8,337	-7,563	-11,884	-13,523
Solvency	53.7%	68.5%	89.5%	87.8%	78.6%	77.8%	20.9%	1.2%	-4.0%
Current ratio	4.23	11.26	8.44	6.71	3.24	2.34	0.65	0.87	0.79
Debt to equity	0.86	0.46	0.12	0.14	0.27	0.29	3.78	85.64	-
ROE	4.4%	2.9%	20.4%	14.3%	34.5%	73.3%	81.1%	324.0%	-
ROA	2.4%	2.0%	18.3%	12.6%	27.1%	57.0%	16.9%	3.7%	-1.8%
Interest coverage	7.43	11.33	54.86	53.85	-	-	-	-	-

Item	31-03-2026	31-03-2025	31-03-2024	31-03-2023	31-03-2022
Tangible fixed assets	€35,056	€19,692	-	-	-
Depreciation and write-downs of the year	€6,849	€2,639	€1,983	€5,049	-

SD

Annual accounts 2026

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency53.7%

Current ratio4.23

Return on assets2.4%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on SD

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