ENTREPRISES SD CONSTRUCT: what changed
Two fiscal 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.
ENTREPRISES SD CONSTRUCT
Largest movements
- Tangible fixed assets +€350,212
up €350,212 (+106.9%), from €327,698 to €677,910
of which Assets under construction and advance payments: +€358,703
- Stocks and contracts -€316,073
down €316,073 (-63.1%), from €500,725 to €184,652
- Receivables within one year +€14,433
up €14,433 (+18.8%), from €76,936 to €91,369
of which Other amounts receivable: +€66,759
- Trade debts +€56,667
up €56,667 (+308.2%), from €18,389 to €75,056
- Profit (loss) carried forward +€16,147
up €16,147 (+8.6%), from €186,779 to €202,926
- Tax, wage and social debts -€12,512
down €12,512 (-24.9%), from €50,331 to €37,819
of which Remuneration and social security: -€6,497
- Other debts +€10,162
up €10,162 (+36.8%), from €27,645 to €37,807
- Gross operating margin -€42,685
down €42,685 (-28.5%), from €150,011 to €107,326
- Taxes -€12,058
down €12,058 (-96.2%), from €12,538 to €480
- Financial charges -€4,029
down €4,029 (-23.2%), from €17,392 to €13,363
- Other operating charges +€3,713
up €3,713 (+67.7%), from €5,487 to €9,201
- Staff costs -€2,635
down €2,635 (-4.6%), from €56,707 to €54,073
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.
Cash bridge derived
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 | €937,533 | €992,428 | +€54,895 | +5.9% |
| Fixed assets | 21/28 | €327,698 | €677,910 | +€350,212 | +106.9% |
| Tangible fixed assets | 22/27 | €327,698 | €677,910 | +€350,212 | +106.9% |
| Land and buildings | 22 | €321,424 | €311,444 | -€9,980 | -3.1% |
| Plant, machinery and equipment | 23 | €321 | - | -€321 | |
| Furniture and vehicles | 24 | €5,953 | €7,762 | +€1,810 | +30.4% |
| Assets under construction and advance payments | 27 | - | €358,703 | +€358,703 | |
| Current assets | 29/58 | €609,835 | €314,518 | -€295,317 | -48.4% |
| Stocks and contracts in progress | 3 | €500,725 | €184,652 | -€316,073 | -63.1% |
| Stocks | 30/36 | €500,725 | €184,652 | -€316,073 | -63.1% |
| Amounts receivable within one year | 40/41 | €76,936 | €91,369 | +€14,433 | +18.8% |
| Trade receivables | 40 | €53,944 | €1,618 | -€52,326 | -97.0% |
| Other amounts receivable | 41 | €22,992 | €89,751 | +€66,759 | +290.4% |
| Cash at bank and in hand | 54/58 | €32,173 | €38,497 | +€6,323 | +19.7% |
| Total equity and liabilities | 10/49 | €937,533 | €992,428 | +€54,895 | +5.9% |
| Equity | 10/15 | €208,779 | €224,926 | +€16,147 | +7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Profit (loss) carried forward | 14 | €186,779 | €202,926 | +€16,147 | +8.6% |
| Amounts payable | 17/49 | €728,754 | €767,502 | +€38,748 | +5.3% |
| Amounts payable after more than one year | 17 | €584,408 | €578,028 | -€6,380 | -1.1% |
| Financial debts | 170/4 | €317,883 | €273,704 | -€44,180 | -13.9% |
| Trade debts | 175 | €100,000 | €100,000 | = | 0.0% |
| Other amounts payable | 178/9 | €166,525 | €204,324 | +€37,799 | +22.7% |
| Amounts payable within one year | 42/48 | €144,346 | €189,474 | +€45,128 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €47,981 | €38,792 | -€9,189 | -19.2% |
| Trade debts | 44 | €18,389 | €75,056 | +€56,667 | +308.2% |
| Suppliers | 440/4 | €18,389 | €75,056 | +€56,667 | +308.2% |
| Taxes, remuneration and social security | 45 | €50,331 | €37,819 | -€12,512 | -24.9% |
| Taxes | 450/3 | €41,179 | €35,164 | -€6,015 | -14.6% |
| Remuneration and social security | 454/9 | €9,152 | €2,655 | -€6,497 | -71.0% |
| Other amounts payable | 47/48 | €27,645 | €37,807 | +€10,162 | +36.8% |
| Remuneration, social security and pensions | 62 | €56,707 | €54,073 | -€2,635 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,216 | €14,098 | -€118 | -0.8% |
| Other operating charges | 640/8 | €5,487 | €9,201 | +€3,713 | +67.7% |
| Gross operating margin | 9900 | €150,011 | €107,326 | -€42,685 | -28.5% |
| Operating profit (loss) | 9901 | €73,600 | €29,955 | -€43,645 | -59.3% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €17,392 | €13,363 | -€4,029 | -23.2% |
| Recurring financial charges | 65 | €17,392 | €13,363 | -€4,029 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €56,208 | €16,627 | -€39,581 | -70.4% |
| Income taxes | 67/77 | €12,538 | €480 | -€12,058 | -96.2% |
| Profit (loss) for the period | 9904 | €43,671 | €16,147 | -€27,524 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,671 | €16,147 | -€27,524 | -63.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.