SERVICES DEVELOPMENT MANAGEMENT
ActiveSummary
SERVICES DEVELOPMENT MANAGEMENT has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €120.89M and a net result of €23.05M. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 85% of 1648 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-3
Solvency100=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity ample (current ratio 5.26 against 20.38 in 2024; short-term debt: 15.5% and cash: 0.2% of total assets), and 15.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
84.4%
Return on assets
16.1%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-10-2025, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
19 d late
2023
1 d early
2022
6 d early
2021
15 d late
2020
33 d late
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Name match with a sanctions list
1 entryMURAD EN SONS DIAMONDSalias M.S.D.
A name match is not a finding that this company itself is on the list; check the entry at the source.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€23.05M▲ 1,059%
2024 · €1.99M
2019: €15.95M
2020: €-29.36M▼ -284% vs 2019lowest in 7 years
2021: €2.77M▲ +109% vs 2020
2022: €1.89M▼ -31.8% vs 2021
2023: €6.22M▲ +230% vs 2022
2024: €1.99M▼ -68.0% vs 2023
2025: €23.05M▲ +1059% vs 2024highest in 7 years
2019 → 2025
Working capital
€94.61M▲ 1.5%
2024 · €93.25M
2019: €95.72M
2020: €99.98M▲ +4.5% vs 2019highest in 7 years
2021: €98.35M▼ -1.6% vs 2020
2022: €95.54M▼ -2.9% vs 2021
2023: €94.33M▼ -1.3% vs 2022
2024: €93.25M▼ -1.1% vs 2023lowest in 7 years
2025: €94.61M▲ +1.5% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€115.65M-€115.74M▲ 0.1%€115.93M▲ 0.2%€117.92M▲ 1.7%€120.89M▲ 2.5%
2021: €115.65Mlowest in 5 years
2022: €115.74M▲ +0.1% vs 2021
2023: €115.93M▲ +0.2% vs 2022
2024: €117.92M▲ +1.7% vs 2023
2025: €120.89M▲ +2.5% vs 2024highest in 5 years
Operating result€-94k-€-231k▼ 145%€-247k▼ 6.7%€-412k▼ 66.8%€-272k▲ 34.0%
2021: €-94khighest in 5 years
2022: €-231k▼ -145% vs 2021
2023: €-247k▼ -6.7% vs 2022
2024: €-412k▼ -66.8% vs 2023lowest in 5 years
2025: €-272k▲ +34.0% vs 2024
Net result€2.77M-€1.89M▼ 31.8%€6.22M▲ 230%€1.99M▼ 68.0%€23.05M▲ 1,059%
2021: €2.77M
2022: €1.89M▼ -31.8% vs 2021lowest in 5 years
2023: €6.22M▲ +230% vs 2022
2024: €1.99M▼ -68.0% vs 2023
2025: €23.05M▲ +1059% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €272k in 2025 against €412k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €143.28M
Fixed assets
€26.48M ▲ 6.5%
Current assets
€116.80M ▲ 19.1%
Equity and liabilities €143.28M
Equity
€120.89M ▲ 2.5%
Debt
€22.40M ▲ 347%
Debt's share of the balance-sheet total rises from 4.1% to 15.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-254k▲
2024 · €-394k
Cash flow
€23.06M▲
2024 · €2.01M
Current ratio
5.26▼
2024 · 20.38
Debt to equity
0.19▲
2024 · 0.04
ROE
19.1%▲
2024 · 1.7%
ROA
16.1%▲
2024 · 1.6%
Interest coverage
-1.06▼
2024 · 12.01
Debt ≤ 1 year
€22.20M▲
2024 · €4.81M
Debt > 1 year
€201k=
2024 · €201k
Income taxes
€65k▲
2024 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€122.93M€143.28M▲
Fixed assets21/28€24.87M€26.48M▲
Tangible fixed assets22/27€106k€88k▼
Furniture and vehicles24€106k€88k▼
Financial fixed assets28€24.76M€26.39M▲
Current assets29/58€98.06M€116.80M▲
Amounts receivable after more than one year29€23.72M€27.21M▲
Trade receivables290-€1.50M
Other amounts receivable291€23.72M€25.71M▲
Amounts receivable within one year40/41€1.62M€4.27M▲
Trade receivables40-€1.20M
Other amounts receivable41€1.62M€3.07M▲
Current investments50/53€72.56M€84.96M▲
Cash at bank and in hand54/58€89k€247k▲
Deferred charges and accrued income490/1€78k€128k▲
Equity and liabilities
Total equity and liabilities10/49€122.93M€143.28M▲
Equity10/15€117.92M€120.89M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€115.01M€120.01M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€115.00M€120.00M▲
Profit (loss) carried forward14€2.85M€817k▼
Amounts payable17/49€5.01M€22.40M▲
Amounts payable after more than one year17€201k€201k=
Other amounts payable178/9€201k€201k=
Amounts payable within one year42/48€4.81M€22.20M▲
Financial debts43€5k€47▼
Credit institutions430/8€5k€47▼
Trade debts44€18k€107k▲
Suppliers440/4€18k€107k▲
Other amounts payable47/48€4.79M€22.09M▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€18k=
Other operating charges640/8€188k€144k▼
Gross operating margin9900€-207k€-110k▲
Operating profit (loss)9901€-412k€-272k▲
Financial income75/76B€2.38M€23.62M▲
Recurring financial income75€2.38M€23.62M▲
Financial charges65/66B€-33k€239k▲
Recurring financial charges65€-33k€239k▲
Profit (loss) for the period before taxes9903€2.00M€23.11M▲
Income taxes67/77€11k€65k▲
Profit (loss) for the period9904€1.99M€23.05M▲
Profit (loss) for the period to be appropriated9905€1.99M€23.05M▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.85M€25.90M▲
Profit (loss) brought forward from the previous period14P€864k€2.85M▲
Transfer to equity691/2€0€5.00M▲
To other reserves6921€0€5.00M▲
Profit to be distributed694/7€0€20.08M▲
Return on contributions (dividend)694€0€20.08M▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €40k | - | - | - | - |
| Other operating income74 | - | €40k | - | - | - | - |
| Operating charges60/66A | - | €272k | - | - | - | - |
| Services and other goods61 | - | €85k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25k | €25k | €25k | €18k | €18k | = |
| Other operating charges640/8 | - | €163k | €168k | €188k | €144k | ▼ 23.0% |
| Gross operating margin9900 | - | - | €-54k | €-207k | €-110k | ▲ 46.9% |
| Operating profit (loss)9901 | €-94k | €-231k | €-247k | €-412k | €-272k | ▲ 34.0% |
| Financial income75/76B | - | €2.39M | €7.06M | €2.38M | €23.62M | ▲ 893% |
| Recurring financial income75 | €3.22M | €2.39M | €7.06M | €2.38M | €23.62M | ▲ 893% |
| Income from financial fixed assets750 | - | €294k | - | - | - | - |
| Income from current assets751 | - | €1.32M | - | - | - | - |
| Other financial income752/9 | - | €775k | - | - | - | - |
| Financial charges65/66B | - | €65k | €436k | €-33k | €239k | ▲ 827% |
| Recurring financial charges65 | €168k | €65k | €436k | €-33k | €239k | ▲ 827% |
| Debt charges650 | €463 | €210 | - | - | - | - |
| Other financial charges652/9 | - | €65k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €2.96M | €2.09M | €6.38M | €2.00M | €23.11M | ▲ 1,056% |
| Income taxes67/77 | €188k | €205k | €162k | €11k | €65k | ▲ 485% |
| Taxes670/3 | - | €207k | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | €2k | - | - | - | - |
| Profit (loss) for the period9904 | €2.77M | €1.89M | €6.22M | €1.99M | €23.05M | ▲ 1,059% |
| Profit (loss) for the period to be appropriated9905 | €2.77M | €1.89M | €6.22M | €1.99M | €23.05M | ▲ 1,059% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €118.41M | €117.82M | €122.32M | €122.93M | €143.28M | ▲ 16.6% |
| Fixed assets21/28 | €17.50M | €20.40M | €21.80M | €24.87M | €26.48M | ▲ 6.5% |
| Tangible fixed assets22/27 | €147k | €134k | €221k | €106k | €88k | ▼ 16.7% |
| Furniture and vehicles24 | - | €134k | €221k | €106k | €88k | ▼ 16.7% |
| Financial fixed assets28 | €17.35M | €20.27M | €21.58M | €24.76M | €26.39M | ▲ 6.6% |
| Other financial fixed assets284/8 | - | €20.27M | - | - | - | - |
| Shares284 | - | €20.27M | - | - | - | - |
| Current assets29/58 | €100.91M | €97.42M | €100.52M | €98.06M | €116.80M | ▲ 19.1% |
| Amounts receivable after more than one year29 | - | €120k | €23.20M | €23.72M | €27.21M | ▲ 14.7% |
| Trade receivables290 | - | - | - | - | €1.50M | - |
| Other amounts receivable291 | - | €120k | €23.20M | €23.72M | €25.71M | ▲ 8.4% |
| Stocks and contracts in progress3 | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €24.76M | €25.09M | €373k | €1.62M | €4.27M | ▲ 164% |
| Trade receivables40 | - | €154k | €0 | - | €1.20M | - |
| Other amounts receivable41 | - | €24.94M | €373k | €1.62M | €3.07M | ▲ 89.5% |
| Current investments50/53 | €75.00M | €72.08M | €75.98M | €72.56M | €84.96M | ▲ 17.1% |
| Other investments51/53 | - | €72.08M | - | - | - | - |
| Cash at bank and in hand54/58 | €552k | €64k | €951k | €89k | €247k | ▲ 178% |
| Deferred charges and accrued income490/1 | - | €64k | €18k | €78k | €128k | ▲ 63.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €118.41M | €117.82M | €122.32M | €122.93M | €143.28M | ▲ 16.6% |
| Equity10/15 | €115.65M | €115.74M | €115.93M | €117.92M | €120.89M | ▲ 2.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €100.01M | €100.01M | €115.01M | €115.01M | €120.01M | ▲ 4.3% |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €100.00M | €115.00M | €115.00M | €120.00M | ▲ 4.3% |
| Profit (loss) carried forward14 | €15.58M | €15.67M | €864k | €2.85M | €817k | ▼ 71.4% |
| Amounts payable17/49 | €2.76M | €2.08M | €6.39M | €5.01M | €22.40M | ▲ 347% |
| Amounts payable after more than one year17 | €201k | €201k | €201k | €201k | €201k | = |
| Other amounts payable178/9 | - | €201k | €201k | €201k | €201k | = |
| Amounts payable within one year42/48 | €2.56M | €1.88M | €6.19M | €4.81M | €22.20M | ▲ 361% |
| Financial debts43 | - | €332 | €200 | €5k | €47 | ▼ 99.1% |
| Credit institutions430/8 | - | €332 | €200 | €5k | €47 | ▼ 99.1% |
| Trade debts44 | €13k | €63k | €81k | €18k | €107k | ▲ 508% |
| Suppliers440/4 | - | €63k | €81k | €18k | €107k | ▲ 508% |
| Other amounts payable47/48 | - | €1.82M | €6.11M | €4.79M | €22.09M | ▲ 361% |
| Accrued charges and deferred income492/3 | - | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.77M | €1.89M | €6.22M | €1.99M | €23.05M | ▲ 1,059% |
| + Depreciation and write-downs630 | €25k | €25k | €25k | €18k | €18k | = |
| Operating cash flow (approximation) | €2.79M | €1.91M | €6.24M | €2.01M | €23.06M | ▲ 1,049% |
| Investment in fixed assets (approximation) | - | €-2.92M | €-1.43M | €-3.08M | €-1.63M | ▲ 47.2% |
| Change in cash | - | €-488k | €887k | €-863k | €158k | ▲ 118% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2019net €23.05M ▲1,059%
Net result €23.05M, the highest in the series.
2024
19-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 19 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
15-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 15 days late
31-03
Financial
Back to profitnet €2.77M
Net result €2.77M after one loss-making year.
2020
03-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 33 days late
31-03
Financial
Weakest financial yearnet €-29.36M
Net result drops to €-29.36M, the lowest in the series; recovery starts the following year.
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
09-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 1994
Ground area
375 m²
Building footprint
39 m²
Volume, LiDAR
503 m³
Parcel 11804D0838/00R000, Flanders · tallest building 16.7 m, ±5 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
S.D.M.
since 19942.067.584.001
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11804D0838/00R000 | Flanders | 375 m² | 1 · 39 m² | 16.7 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900NC592F7QXMNK66
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Of 2,712 companies in sector 73200 we hold annual accounts for 1,782. 55 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded05-05-1994
Fiscal year end31-03
Abbreviation NL
S.D.M.
Activities, NACEBEL 2025
73200Market research and public opinion polling
Contact
Phone
0486/03.14.71Antwerpen
Scores and ratios are computed by Checked and are not a credit decision.