SD & CONSTRUCTIONS: 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.
SD & CONSTRUCTIONS
Largest movements
- Cash -€343,254
down €343,254 (-53.9%), from €636,367 to €293,114
mainly Other debts (-€535,189) and Current investments (-€300,000)
- Current investments +€300,000
new in 2025: €300,000
- Receivables within one year +€49,278
up €49,278 (+2660.4%), from €1,852 to €51,131
- Other debts -€535,189
down €535,189 (-83.5%), from €640,572 to €105,382
- Debts after one year +€500,000
new in 2025: €500,000
- Profit (loss) carried forward +€41,413
up €41,413 (+7.0%), from -€590,745 to -€549,332
- Financial income +€47,658
up €47,658 (+961.3%), from €4,958 to €52,615
- Gross operating margin +€4,124
up €4,124 (+34.7%), from -€11,897 to -€7,773
- Other operating charges -€2,286
down €2,286 (-45.9%), from €4,980 to €2,694
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 | €1,557,154 | €1,563,409 | +€6,255 | +0.4% |
| Fixed assets | 21/28 | €685,734 | €685,197 | -€537 | -0.1% |
| Tangible fixed assets | 22/27 | €1,099 | €562 | -€537 | -48.9% |
| Furniture and vehicles | 24 | €1,099 | €562 | -€537 | -48.9% |
| Financial fixed assets | 28 | €684,634 | €684,634 | = | 0.0% |
| Current assets | 29/58 | €871,420 | €878,212 | +€6,792 | +0.8% |
| Amounts receivable after more than one year | 29 | €233,200 | €233,200 | = | 0.0% |
| Other amounts receivable | 291 | €233,200 | €233,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,852 | €51,131 | +€49,278 | +2660.4% |
| Other amounts receivable | 41 | €1,852 | €51,131 | +€49,278 | +2660.4% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €636,367 | €293,114 | -€343,254 | -53.9% |
| Deferred charges and accrued income | 490/1 | - | €767 | +€767 | |
| Total equity and liabilities | 10/49 | €1,557,154 | €1,563,409 | +€6,255 | +0.4% |
| Equity | 10/15 | €915,615 | €957,028 | +€41,413 | +4.5% |
| Contributions | 10/11 | €1,400,000 | €1,400,000 | = | 0.0% |
| Reserves | 13 | €106,360 | €106,360 | = | 0.0% |
| Distributable reserves | 133 | €106,360 | €106,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€590,745 | -€549,332 | +€41,413 | +7.0% |
| Amounts payable | 17/49 | €641,539 | €606,381 | -€35,158 | -5.5% |
| Amounts payable after more than one year | 17 | - | €500,000 | +€500,000 | |
| Financial debts | 170/4 | - | €500,000 | +€500,000 | |
| Amounts payable within one year | 42/48 | €641,539 | €106,381 | -€535,158 | -83.4% |
| Trade debts | 44 | €968 | €998 | +€31 | +3.2% |
| Suppliers | 440/4 | €968 | €998 | +€31 | +3.2% |
| Other amounts payable | 47/48 | €640,572 | €105,382 | -€535,189 | -83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €512 | €537 | +€25 | +4.9% |
| Other operating charges | 640/8 | €4,980 | €2,694 | -€2,286 | -45.9% |
| Gross operating margin | 9900 | -€11,897 | -€7,773 | +€4,124 | +34.7% |
| Operating profit (loss) | 9901 | -€17,389 | -€11,005 | +€6,385 | +36.7% |
| Financial income | 75/76B | €4,958 | €52,615 | +€47,658 | +961.3% |
| Recurring financial income | 75 | €4,958 | €52,615 | +€47,658 | +961.3% |
| Financial charges | 65/66B | €99 | €197 | +€98 | +98.5% |
| Recurring financial charges | 65 | €99 | €197 | +€98 | +98.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,531 | €41,413 | +€53,945 | |
| Profit (loss) for the period | 9904 | -€12,531 | €41,413 | +€53,945 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,531 | €41,413 | +€53,945 |
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 7 October 2026 via checked.be.