S.D. GESTION: 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.
S.D. GESTION
Largest movements
- Tangible fixed assets +€49,832
up €49,832 (+13.5%), from €370,196 to €420,028
of which Land and buildings: +€48,261
- Cash +€32,866
up €32,866 (+208%), from €15,801 to €48,667
mainly Other debts (+€71,339) and Net result for the year (+€28,849)
- Other debts +€71,339
up €71,339 (+23.4%), from €304,284 to €375,623
- Debts after one year -€33,535
down €33,535 (-62.9%), from €53,353 to €19,818
- Profit (loss) carried forward +€28,849
up €28,849, from -€22,492 to €6,357
- Tax, wage and social debts +€10,259
new in 2025: €10,259
- Trade debts +€4,746
up €4,746 (+364%), from €1,303 to €6,050
- Taxes +€10,259
new in 2025: €10,259
- Gross operating margin +€8,873
up €8,873 (+12.8%), from €69,424 to €78,297
- Depreciation +€7,117
up €7,117 (+33.0%), from €21,581 to €28,699
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 | €388,030 | €470,234 | +€82,204 | +21.2% |
| Fixed assets | 21/28 | €370,196 | €420,028 | +€49,832 | +13.5% |
| Tangible fixed assets | 22/27 | €370,196 | €420,028 | +€49,832 | +13.5% |
| Land and buildings | 22 | €370,196 | €418,457 | +€48,261 | +13.0% |
| Plant, machinery and equipment | 23 | - | €711 | +€711 | |
| Furniture and vehicles | 24 | - | €860 | +€860 | |
| Current assets | 29/58 | €17,834 | €50,206 | +€32,372 | +182% |
| Cash at bank and in hand | 54/58 | €15,801 | €48,667 | +€32,866 | +208% |
| Deferred charges and accrued income | 490/1 | €2,033 | €1,539 | -€494 | -24.3% |
| Total equity and liabilities | 10/49 | €388,030 | €470,234 | +€82,204 | +21.2% |
| Equity | 10/15 | -€3,900 | €24,949 | +€28,849 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,492 | €6,357 | +€28,849 | |
| Amounts payable | 17/49 | €391,930 | €445,285 | +€53,356 | +13.6% |
| Amounts payable after more than one year | 17 | €53,353 | €19,818 | -€33,535 | -62.9% |
| Financial debts | 170/4 | €53,353 | €19,818 | -€33,535 | -62.9% |
| Amounts payable within one year | 42/48 | €338,577 | €425,467 | +€86,891 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €32,989 | €33,535 | +€546 | +1.7% |
| Trade debts | 44 | €1,303 | €6,050 | +€4,746 | +364% |
| Suppliers | 440/4 | €1,303 | €6,050 | +€4,746 | +364% |
| Taxes, remuneration and social security | 45 | - | €10,259 | +€10,259 | |
| Taxes | 450/3 | - | €10,259 | +€10,259 | |
| Other amounts payable | 47/48 | €304,284 | €375,623 | +€71,339 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,581 | €28,699 | +€7,117 | +33.0% |
| Other operating charges | 640/8 | €8,685 | €9,025 | +€340 | +3.9% |
| Gross operating margin | 9900 | €69,424 | €78,297 | +€8,873 | +12.8% |
| Operating profit (loss) | 9901 | €39,158 | €40,574 | +€1,416 | +3.6% |
| Financial charges | 65/66B | €1,908 | €1,466 | -€442 | -23.2% |
| Recurring financial charges | 65 | €1,908 | €1,466 | -€442 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €37,250 | €39,108 | +€1,858 | +5.0% |
| Income taxes | 67/77 | - | €10,259 | +€10,259 | |
| Profit (loss) for the period | 9904 | €37,250 | €28,849 | -€8,401 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,250 | €28,849 | -€8,401 | -22.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.