SD Building & Engineering Group: 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.
What changed
SD Building & Engineering Group
NACE 74.999, Other professional, scientific and technical activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€28,385
2024 · €477,686-€506,070
Equity
€1.8m
2024 · €1.9m-€87,208
Cash
€720,674
2024 · €1.2m-€493,070
Balance sheet total
€3.3m
2024 · €3.5m-€235,676
Largest movements
Assets
- Cash -€493,070
down €493,070 (-40.6%), from €1.2m to €720,674
mainly Investment in fixed assets (net) (-€425,569) and Current investments (-€208,292)
- Current investments +€208,292
up €208,292 (+1735.8%), from €12,000 to €220,292
Equity and liabilities
- Debts after one year -€146,486
down €146,486 (-13.2%), from €1.1m to €964,443
- Reserves -€87,208
down €87,208 (-4.7%), from €1.9m to €1.8m
of which Distributable reserves: -€87,208
Income statement
- Gross operating margin -€232,207
down €232,207 (-34.9%), from €666,053 to €433,846
- Depreciation +€202,324
up €202,324 (+101.2%), from €199,994 to €402,318
- Financial income -€73,858
down €73,858 (-97.0%), from €76,133 to €2,275
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
€477,686
Gross operating margin
-€232,207
Staff costs
-€2,038
Depreciation
-€202,324
Other operating charges
+€4,547
Financial income
-€73,858
Financial charges
+€196
Taxes
-€387
Result 2025
-€28,385
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.
From operations
+€348,734
Investment
-€633,861
Financing
-€207,944
Cash 2024
€1.2m
From operations (derived)
+€348,734
Net result for the year
-€28,385
Depreciation
+€402,318
Stocks and contracts
-€4,921
Receivables within one year
+€1,387
Deferred charges and accrued income
-€22,318
Trade debts
+€2,822
Tax, wage and social debts
-€3,502
Other debts
+€2,718
Accrued charges and deferred income
-€1,385
Investment (derived)
-€633,861
Investment in fixed assets (net)
-€425,569
Current investments
-€208,292
Financing
-€207,944
Debts after one year
-€146,486
Current portion of long-term debt
-€2,634
Contributions, distributions and other
-€58,824
Cash 2025
€720,674
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,492,360 | €3,256,684 | -€235,676 | -6.7% |
| Fixed assets | 21/28 | €1,763,154 | €1,786,405 | +€23,251 | +1.3% |
| Tangible fixed assets | 22/27 | €1,744,616 | €1,767,867 | +€23,251 | +1.3% |
| Land and buildings | 22 | €602,530 | €587,531 | -€14,999 | -2.5% |
| Plant, machinery and equipment | 23 | €642,081 | €745,299 | +€103,219 | +16.1% |
| Furniture and vehicles | 24 | €498,231 | €434,046 | -€64,185 | -12.9% |
| Leasing and similar rights | 25 | €0 | - | -€0 | |
| Other tangible fixed assets | 26 | €1,775 | €992 | -€783 | -44.1% |
| Financial fixed assets | 28 | €18,538 | €18,538 | = | 0.0% |
| Current assets | 29/58 | €1,729,205 | €1,470,279 | -€258,927 | -15.0% |
| Stocks and contracts in progress | 3 | €1,648 | €6,569 | +€4,921 | +298.5% |
| Stocks | 30/36 | €1,648 | €6,569 | +€4,921 | +298.5% |
| Amounts receivable within one year | 40/41 | €501,813 | €500,426 | -€1,387 | -0.3% |
| Trade receivables | 40 | €499,905 | €500,400 | +€495 | +0.1% |
| Other amounts receivable | 41 | €1,908 | €26 | -€1,882 | -98.6% |
| Current investments | 50/53 | €12,000 | €220,292 | +€208,292 | +1735.8% |
| Cash at bank and in hand | 54/58 | €1,213,744 | €720,674 | -€493,070 | -40.6% |
| Deferred charges and accrued income | 490/1 | - | €22,318 | +€22,318 | |
| Total equity and liabilities | 10/49 | €3,492,360 | €3,256,684 | -€235,676 | -6.7% |
| Equity | 10/15 | €1,889,290 | €1,802,082 | -€87,208 | -4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,870,690 | €1,783,482 | -€87,208 | -4.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,868,830 | €1,781,622 | -€87,208 | -4.7% |
| Amounts payable | 17/49 | €1,603,070 | €1,454,602 | -€148,467 | -9.3% |
| Amounts payable after more than one year | 17 | €1,110,929 | €964,443 | -€146,486 | -13.2% |
| Financial debts | 170/4 | €1,110,929 | €964,443 | -€146,486 | -13.2% |
| Amounts payable within one year | 42/48 | €485,924 | €485,327 | -€596 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €405,240 | €402,606 | -€2,634 | -0.7% |
| Trade debts | 44 | €22,089 | €24,911 | +€2,822 | +12.8% |
| Suppliers | 440/4 | €22,089 | €24,911 | +€2,822 | +12.8% |
| Taxes, remuneration and social security | 45 | €51,859 | €48,357 | -€3,502 | -6.8% |
| Taxes | 450/3 | €43,925 | €37,947 | -€5,977 | -13.6% |
| Remuneration and social security | 454/9 | €7,935 | €10,410 | +€2,475 | +31.2% |
| Other amounts payable | 47/48 | €6,735 | €9,453 | +€2,718 | +40.4% |
| Accrued charges and deferred income | 492/3 | €6,217 | €4,832 | -€1,385 | -22.3% |
| Remuneration, social security and pensions | 62 | €32,291 | €34,329 | +€2,038 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,994 | €402,318 | +€202,324 | +101.2% |
| Other operating charges | 640/8 | €6,487 | €1,940 | -€4,547 | -70.1% |
| Gross operating margin | 9900 | €666,053 | €433,846 | -€232,207 | -34.9% |
| Operating profit (loss) | 9901 | €427,281 | -€4,741 | -€432,021 | |
| Financial income | 75/76B | €76,133 | €2,275 | -€73,858 | -97.0% |
| Recurring financial income | 75 | €76,133 | €2,275 | -€73,858 | -97.0% |
| Financial charges | 65/66B | €25,443 | €25,247 | -€196 | -0.8% |
| Recurring financial charges | 65 | €25,443 | €25,247 | -€196 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €477,970 | -€27,713 | -€505,684 | |
| Income taxes | 67/77 | €285 | €671 | +€387 | +135.7% |
| Profit (loss) for the period | 9904 | €477,686 | -€28,385 | -€506,070 | |
| Profit (loss) for the period to be appropriated | 9905 | €477,686 | -€28,385 | -€506,070 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.