S.D.S. CONSULT: 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.
What changed
S.D.S. CONSULT
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€662,386
2024 · €75,484+€586,902
Equity
€2.1m
2024 · €1.5m+€662,387
Cash
€62,265
2024 · €55,044+€7,221
Balance sheet total
€2.7m
2024 · €1.7m+€991,211
Largest movements
Assets
- Tangible fixed assets +€735,367
up €735,367 (+61.6%), from €1.2m to €1.9m
of which Land and buildings: +€665,116
- Receivables within one year +€328,715
up €328,715 (+307%), from €107,090 to €435,805
of which Trade receivables: +€178,302
- Financial fixed assets -€310,556
no longer reported in 2025 (was €310,556)
- Current investments +€230,464
new in 2025: €230,464
Equity and liabilities
- Profit (loss) carried forward +€665,421
up €665,421 (+47.1%), from €1.4m to €2.1m
- Tax, wage and social debts +€197,557
up €197,557 (+656%), from €30,130 to €227,687
of which Taxes: +€200,246
- Debts after one year +€140,145
up €140,145 (+197%), from €71,081 to €211,226
Income statement
- Financial income +€1.0m
up €1.0m (+16,690,533%), from €6 to €1.0m
of which Non-recurring financial income: +€1.0m
- Turnover -€490,809
no longer reported in 2025 (was €490,809)
- Purchases and services -€304,967
no longer reported in 2025 (was €304,967)
- Taxes +€202,175
up €202,175 (+659%), from €30,681 to €232,856
- Gross operating margin -€138,771
down €138,771 (-61.1%), from €227,163 to €88,392
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.
Result 2024
€75,484
Gross operating margin
-€138,771
Staff costs
+€1,387
Depreciation
-€28,270
Other operating charges
-€2,183
Other operating items
-€37,399
Financial income
+€1.0m
Financial charges
-€7,119
Taxes
-€202,175
Result 2025
€662,386
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€651,826
Investment
-€779,078
Financing
+€134,473
Cash 2024
€55,044
From operations (derived)
+€651,826
Net result for the year
+€662,386
Depreciation
+€123,803
Receivables within one year
-€328,715
Provisions
-€1,562
Trade debts
-€3,943
Tax, wage and social debts
+€197,557
Advances received
+€2,300
Investment (derived)
-€779,078
Investment in fixed assets (net)
-€548,614
Current investments
-€230,464
Financing
+€134,473
Debts after one year
+€140,145
Current portion of long-term debt
-€2,673
Short-term financial debts
-€3,000
Contributions, distributions and other
+€1
Cash 2025
€62,265
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,667,313 | €2,658,524 | +€991,211 | +59.4% |
| Fixed assets | 21/28 | €1,505,179 | €1,929,990 | +€424,811 | +28.2% |
| Tangible fixed assets | 22/27 | €1,194,623 | €1,929,990 | +€735,367 | +61.6% |
| Land and buildings | 22 | €1,150,478 | €1,815,594 | +€665,116 | +57.8% |
| Plant, machinery and equipment | 23 | €647 | €1,024 | +€377 | +58.3% |
| Furniture and vehicles | 24 | €43,498 | €113,372 | +€69,874 | +161% |
| Financial fixed assets | 28 | €310,556 | - | -€310,556 | |
| Current assets | 29/58 | €162,134 | €728,534 | +€566,400 | +349% |
| Amounts receivable within one year | 40/41 | €107,090 | €435,805 | +€328,715 | +307% |
| Trade receivables | 40 | €7,090 | €185,392 | +€178,302 | +2,515% |
| Other amounts receivable | 41 | €100,000 | €250,413 | +€150,413 | +150% |
| Current investments | 50/53 | - | €230,464 | +€230,464 | |
| Cash at bank and in hand | 54/58 | €55,044 | €62,265 | +€7,221 | +13.1% |
| Total equity and liabilities | 10/49 | €1,667,313 | €2,658,524 | +€991,211 | +59.4% |
| Equity | 10/15 | €1,482,273 | €2,144,660 | +€662,387 | +44.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €50,408 | €47,374 | -€3,034 | -6.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,549 | €45,515 | -€3,034 | -6.2% |
| Profit (loss) carried forward | 14 | €1,413,273 | €2,078,694 | +€665,421 | +47.1% |
| Provisions and deferred taxes | 16 | €24,999 | €23,437 | -€1,562 | -6.2% |
| Deferred taxes | 168 | €24,999 | €23,437 | -€1,562 | -6.2% |
| Amounts payable | 17/49 | €160,041 | €490,427 | +€330,386 | +206% |
| Amounts payable after more than one year | 17 | €71,081 | €211,226 | +€140,145 | +197% |
| Financial debts | 170/4 | €71,081 | €211,226 | +€140,145 | +197% |
| Amounts payable within one year | 42/48 | €88,960 | €279,201 | +€190,241 | +214% |
| Current portion of amounts payable after more than one year | 42 | €34,825 | €32,152 | -€2,673 | -7.7% |
| Financial debts | 43 | €3,000 | - | -€3,000 | |
| Other loans | 439 | €3,000 | - | -€3,000 | |
| Trade debts | 44 | €21,005 | €17,062 | -€3,943 | -18.8% |
| Suppliers | 440/4 | €21,005 | €17,062 | -€3,943 | -18.8% |
| Advances received on contracts in progress | 46 | - | €2,300 | +€2,300 | |
| Taxes, remuneration and social security | 45 | €30,130 | €227,687 | +€197,557 | +656% |
| Taxes | 450/3 | €27,441 | €227,687 | +€200,246 | +730% |
| Remuneration and social security | 454/9 | €2,689 | - | -€2,689 | |
| Turnover | 70 | €490,809 | - | -€490,809 | |
| Goods, raw materials, services and sundry goods | 60/61 | €304,967 | - | -€304,967 | |
| Remuneration, social security and pensions | 62 | €14,366 | €12,979 | -€1,387 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,533 | €123,803 | +€28,270 | +29.6% |
| Other operating charges | 640/8 | €8,519 | €10,702 | +€2,183 | +25.6% |
| Non-recurring operating charges | 66A | - | €37,399 | +€37,399 | |
| Gross operating margin | 9900 | €227,163 | €88,392 | -€138,771 | -61.1% |
| Operating profit (loss) | 9901 | €108,745 | -€96,491 | -€205,236 | |
| Financial income | 75/76B | €6 | €1,001,438 | +€1.0m | +16,690,533% |
| Recurring financial income | 75 | €6 | €1,438 | +€1,432 | +23,867% |
| Non-recurring financial income | 76B | - | €1,000,000 | +€1.0m | |
| Financial charges | 65/66B | €4,149 | €11,268 | +€7,119 | +172% |
| Recurring financial charges | 65 | €4,149 | €11,268 | +€7,119 | +172% |
| Profit (loss) for the period before taxes | 9903 | €104,602 | €893,679 | +€789,077 | +754% |
| Transfer from deferred taxes | 780 | €1,563 | €1,563 | = | 0.0% |
| Income taxes | 67/77 | €30,681 | €232,856 | +€202,175 | +659% |
| Profit (loss) for the period | 9904 | €75,484 | €662,386 | +€586,902 | +778% |
| Transfer from tax-exempt reserves | 789 | €3,035 | €3,035 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,519 | €665,421 | +€586,902 | +747% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.