SD Bouw: what changed
SD Bouw
Largest movements
- Receivables within one year +€298,539
up €298,539 (+215%), from €138,565 to €437,103
of which Trade receivables: +€266,510
- Tangible fixed assets +€78,709
up €78,709 (+29.5%), from €266,546 to €345,255
of which Furniture and vehicles: +€72,387
- Stocks and contracts -€30,395
down €30,395 (-93.4%), from €32,526 to €2,131
of which Contracts in progress: -€30,000
- Cash -€27,481
down €27,481 (-26.2%), from €104,942 to €77,461
mainly Receivables within one year (-€298,539) and Investment in fixed assets (net) (-€165,294)
- Deferred charges and accrued income -€16,442
down €16,442 (-65.7%), from €25,017 to €8,574
- Trade debts +€74,946
up €74,946 (+28.2%), from €265,331 to €340,277
- Reserves +€68,623
up €68,623 (+53.6%), from €128,078 to €196,700
- Other debts +€44,750
new in 2025: €44,750
- Debts after one year +€44,500
up €44,500 (+47.4%), from €93,900 to €138,400
- Short-term financial debts +€35,000
new in 2025: €35,000
- Gross operating margin +€89,248
up €89,248 (+19.3%), from €462,639 to €551,887
- Depreciation +€22,327
up €22,327 (+34.5%), from €64,758 to €87,084
- Taxes +€17,391
up €17,391 (+241%), from €7,214 to €24,604
- Financial charges +€9,732
up €9,732 (+99.8%), from €9,753 to €19,485
of which Non-recurring financial charges: +€10,370
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €568,229 | €870,660 | +€302,430 | +53.2% |
| Fixed assets | 21/28 | €267,181 | €345,390 | +€78,209 | +29.3% |
| Tangible fixed assets | 22/27 | €266,546 | €345,255 | +€78,709 | +29.5% |
| Plant, machinery and equipment | 23 | €123,734 | €134,502 | +€10,768 | +8.7% |
| Furniture and vehicles | 24 | €102,692 | €175,079 | +€72,387 | +70.5% |
| Leasing and similar rights | 25 | €40,119 | €35,674 | -€4,446 | -11.1% |
| Financial fixed assets | 28 | €635 | €135 | -€500 | -78.7% |
| Current assets | 29/58 | €301,049 | €525,270 | +€224,221 | +74.5% |
| Stocks and contracts in progress | 3 | €32,526 | €2,131 | -€30,395 | -93.4% |
| Stocks | 30/36 | €2,526 | €2,131 | -€395 | -15.6% |
| Contracts in progress | 37 | €30,000 | - | -€30,000 | |
| Amounts receivable within one year | 40/41 | €138,565 | €437,103 | +€298,539 | +215% |
| Trade receivables | 40 | €65,009 | €331,518 | +€266,510 | +410% |
| Other amounts receivable | 41 | €73,556 | €105,585 | +€32,029 | +43.5% |
| Cash at bank and in hand | 54/58 | €104,942 | €77,461 | -€27,481 | -26.2% |
| Deferred charges and accrued income | 490/1 | €25,017 | €8,574 | -€16,442 | -65.7% |
| Total equity and liabilities | 10/49 | €568,229 | €870,660 | +€302,430 | +53.2% |
| Equity | 10/15 | €140,478 | €209,100 | +€68,623 | +48.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €128,078 | €196,700 | +€68,623 | +53.6% |
| Distributable reserves | 133 | €128,078 | €196,700 | +€68,623 | +53.6% |
| Amounts payable | 17/49 | €427,752 | €661,559 | +€233,808 | +54.7% |
| Amounts payable after more than one year | 17 | €93,900 | €138,400 | +€44,500 | +47.4% |
| Financial debts | 170/4 | €93,900 | €138,400 | +€44,500 | +47.4% |
| Amounts payable within one year | 42/48 | €333,852 | €522,439 | +€188,587 | +56.5% |
| Current portion of amounts payable after more than one year | 42 | €27,104 | €49,585 | +€22,481 | +82.9% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €265,331 | €340,277 | +€74,946 | +28.2% |
| Suppliers | 440/4 | €265,331 | €340,277 | +€74,946 | +28.2% |
| Taxes, remuneration and social security | 45 | €41,417 | €52,826 | +€11,409 | +27.5% |
| Taxes | 450/3 | €23,999 | €38,073 | +€14,074 | +58.6% |
| Remuneration and social security | 454/9 | €17,418 | €14,754 | -€2,665 | -15.3% |
| Other amounts payable | 47/48 | - | €44,750 | +€44,750 | |
| Accrued charges and deferred income | 492/3 | - | €721 | +€721 | |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €358,557 | €356,262 | -€2,295 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,758 | €87,084 | +€22,327 | +34.5% |
| Other operating charges | 640/8 | €1,234 | €1,711 | +€478 | +38.7% |
| Gross operating margin | 9900 | €462,639 | €551,887 | +€89,248 | +19.3% |
| Operating profit (loss) | 9901 | €38,091 | €106,829 | +€68,738 | +180% |
| Financial income | 75/76B | €1,177 | €5,883 | +€4,706 | +400% |
| Recurring financial income | 75 | €1,177 | €1,603 | +€426 | +36.2% |
| Non-recurring financial income | 76B | - | €4,280 | +€4,280 | |
| Financial charges | 65/66B | €9,753 | €19,485 | +€9,732 | +99.8% |
| Recurring financial charges | 65 | €9,753 | €9,114 | -€638 | -6.5% |
| Non-recurring financial charges | 66B | - | €10,370 | +€10,370 | |
| Profit (loss) for the period before taxes | 9903 | €29,515 | €93,227 | +€63,712 | +216% |
| Income taxes | 67/77 | €7,214 | €24,604 | +€17,391 | +241% |
| Profit (loss) for the period | 9904 | €22,301 | €68,623 | +€46,322 | +208% |
| Profit (loss) for the period to be appropriated | 9905 | €22,301 | €68,623 | +€46,322 | +208% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.