SD MANAGEMENT
Annual accounts 2025
micro format, filed on 01-04-2026, 29 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €96,000 and €160,000.
Balance sheet
balance sheet total €212,344 on 30-09-2025in euro
in euro
Position in the sector
61.0%
Higher than 55% of 41,228 companies in 2025.
0.83
Higher than 19% of 39,797 companies in 2025.
17.5%
Higher than 56% of 40,318 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
212,344 | 197,095 | 130,499 | 104,476 | 107,907 | 53,183 | |
21/28 |
161,038 | 138,595 | 75,000 | 60,000 | - | - | |
22/27 |
26,038 | 33,595 | - | - | - | - | |
24 |
26,038 | 33,595 | - | - | - | - | |
28 |
135,000 | 105,000 | 75,000 | 60,000 | - | - | |
29/58 |
51,307 | 58,501 | 55,499 | 44,476 | 107,907 | 53,183 | |
40/41 |
9,500 | 12,438 | 12,100 | 13,213 | 27,333 | 25,866 | |
40 |
9,500 | 12,100 | 12,100 | 6,050 | 24,200 | 25,866 | |
41 |
0 | 338 | 0 | 7,163 | 3,133 | - | |
54/58 |
40,922 | 44,858 | 43,399 | 31,263 | 80,574 | 27,317 | |
490/1 |
885 | 1,205 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
212,344 | 197,095 | 130,499 | 104,476 | 107,907 | 53,183 | |
10/15 |
129,536 | 152,452 | 118,260 | 96,523 | 84,457 | 27,838 | |
10/11 |
6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
14 |
123,536 | 146,452 | 112,260 | 90,523 | 78,457 | 21,838 | |
17/49 |
82,808 | 44,643 | 12,239 | 7,953 | 23,450 | 25,346 | |
17 |
18,321 | 25,181 | - | - | - | - | |
170/4 |
18,321 | 25,181 | - | - | - | - | |
42/48 |
61,500 | 19,463 | 12,239 | 7,953 | 23,450 | 25,346 | |
42 |
6,860 | 6,607 | - | - | - | - | |
44 |
954 | 3,552 | 1,527 | 1,773 | 3,315 | 2,996 | |
440/4 |
954 | 3,552 | 1,527 | 1,773 | 3,315 | 2,996 | |
45 |
3,425 | 8,372 | 10,712 | 6,179 | 20,135 | 18,184 | |
450/3 |
3,425 | 8,372 | 10,712 | 6,179 | 20,135 | 18,184 | |
47/48 |
50,260 | 931 | - | - | - | 4,166 | |
492/3 |
2,987 | - | - | - | - | - | |
| Income statement | |||||||
9900 |
62,734 | 54,042 | 29,704 | 16,545 | 71,111 | 27,622 | |
630 |
7,557 | 4,192 | - | - | - | - | |
640/8 |
1,637 | 1,060 | - | - | - | - | |
9901 |
53,540 | 48,790 | 29,704 | 16,545 | 71,111 | 27,622 | |
75/76B |
431 | 1,429 | - | - | - | - | |
75 |
431 | 1,429 | - | - | - | - | |
65/66B |
4,188 | 1,012 | 90 | 75 | 56 | - | |
65 |
4,188 | 1,012 | 90 | 75 | 56 | - | |
9903 |
49,782 | 49,207 | 29,614 | 16,470 | 71,055 | 27,622 | |
67/77 |
12,698 | 12,662 | 7,877 | 4,404 | 14,435 | 5,784 | |
9904 |
37,084 | 36,545 | 21,737 | 12,066 | 56,619 | 21,838 | |
9905 |
37,084 | 36,545 | 21,737 | 12,066 | 56,619 | 21,838 | |
| Appropriation of the result | |||||||
9906 |
183,536 | 148,805 | 112,260 | 90,523 | 78,457 | 21,838 | |
14P |
146,452 | 112,260 | 90,523 | 78,457 | - | - | |
694/7 |
60,000 | 2,353 | - | - | - | - | |
694 |
60,000 | 2,353 | - | - | - | - | |
| Document | |||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 01-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 01-04-2026 | 2026-00071463 | |
| 30-09-2024 | micro format | 03-04-2025 | 2025-00062429 | |
| 30-09-2023 | micro format | 27-03-2024 | 2024-00050397 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00049897 | |
| 30-09-2021 | micro format | 30-03-2022 | 2022-10000119 | |
| 30-09-2020 | micro format | 06-04-2021 | 2021-09500542 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 61,097 | 52,982 | - | - | - | - | ||
| 44,642 | 40,736 | - | - | - | - | ||
| 30,000 | 67,786 | 15,000 | 60,000 | - | - | ||
| -3,936 | 1,459 | 12,136 | -49,311 | 53,257 | - | ||
| -10,194 | 39,038 | 43,260 | 36,523 | 84,457 | 27,838 | ||
| 61.0% | 77.3% | 90.6% | 92.4% | 78.3% | 52.3% | ||
| 0.83 | 3.01 | 4.53 | 5.59 | 4.60 | 2.10 | ||
| 0.64 | 0.29 | 0.10 | 0.08 | 0.28 | 0.91 | ||
| 28.6% | 24.0% | 18.4% | 12.5% | 67.0% | 78.4% | ||
| 17.5% | 18.5% | 16.7% | 11.5% | 52.5% | 41.1% | ||
| 14.59 | 52.37 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | €37,786 | - | - |
| Financial fixed assets | €30,000 | €30,000 | €15,000 | €60,000 |
| €7,557 | €4,192 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on SD MANAGEMENT
The operating result for 2025 is 10% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total rises from 22.7% to 39.0%. Equity is lower and debt is higher.