SD Constructs: 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.
SD Constructs
Largest movements
- Tangible fixed assets +€616,117
up €616,117 (+7,914%), from €7,785 to €623,902
of which Land and buildings: +€588,387
- Cash -€47,824
down €47,824 (-35.7%), from €133,992 to €86,168
mainly Investment in fixed assets (net) (-€683,049) and Trade debts (-€4,650)
- Debts after one year +€455,516
new in 2025: €455,516
- Other debts +€96,047
up €96,047 (+3,856%), from €2,491 to €98,538
- Current portion of long-term debt +€22,273
new in 2025: €22,273
- Depreciation +€64,727
up €64,727 (+2,935%), from €2,205 to €66,933
- Gross operating margin +€43,219
up €43,219 (+126%), from €34,219 to €77,438
- Taxes -€6,862
down €6,862 (-67.7%), from €10,136 to €3,273
- Financial charges +€6,625
up €6,625 (+2,990%), from €222 to €6,846
- Other operating charges -€1,099
down €1,099 (-36.8%), from €2,983 to €1,884
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 | €182,494 | €748,867 | +€566,373 | +310% |
| Fixed assets | 21/28 | €7,785 | €623,902 | +€616,117 | +7,914% |
| Tangible fixed assets | 22/27 | €7,785 | €623,902 | +€616,117 | +7,914% |
| Land and buildings | 22 | - | €588,387 | +€588,387 | |
| Plant, machinery and equipment | 23 | €7,440 | €5,580 | -€1,860 | -25.0% |
| Furniture and vehicles | 24 | €345 | €10,375 | +€10,030 | +2,903% |
| Leasing and similar rights | 25 | - | €19,560 | +€19,560 | |
| Current assets | 29/58 | €174,709 | €124,965 | -€49,744 | -28.5% |
| Amounts receivable within one year | 40/41 | €40,717 | €38,797 | -€1,920 | -4.7% |
| Trade receivables | 40 | €13,389 | €11,105 | -€2,284 | -17.1% |
| Other amounts receivable | 41 | €27,328 | €27,691 | +€364 | +1.3% |
| Cash at bank and in hand | 54/58 | €133,992 | €86,168 | -€47,824 | -35.7% |
| Total equity and liabilities | 10/49 | €182,494 | €748,867 | +€566,373 | +310% |
| Equity | 10/15 | €145,432 | €144,146 | -€1,286 | -0.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,432 | €142,146 | -€1,286 | -0.9% |
| Amounts payable | 17/49 | €37,062 | €604,721 | +€567,659 | +1,532% |
| Amounts payable after more than one year | 17 | - | €455,516 | +€455,516 | |
| Financial debts | 170/4 | - | €455,516 | +€455,516 | |
| Amounts payable within one year | 42/48 | €37,062 | €149,206 | +€112,144 | +303% |
| Current portion of amounts payable after more than one year | 42 | - | €22,273 | +€22,273 | |
| Trade debts | 44 | €24,436 | €19,785 | -€4,650 | -19.0% |
| Suppliers | 440/4 | €24,436 | €19,785 | -€4,650 | -19.0% |
| Taxes, remuneration and social security | 45 | €10,136 | €8,609 | -€1,527 | -15.1% |
| Taxes | 450/3 | €10,136 | €8,609 | -€1,527 | -15.1% |
| Other amounts payable | 47/48 | €2,491 | €98,538 | +€96,047 | +3,856% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,205 | €66,933 | +€64,727 | +2,935% |
| Other operating charges | 640/8 | €2,983 | €1,884 | -€1,099 | -36.8% |
| Gross operating margin | 9900 | €34,219 | €77,438 | +€43,219 | +126% |
| Operating profit (loss) | 9901 | €29,031 | €8,621 | -€20,409 | -70.3% |
| Financial income | 75/76B | €81 | €213 | +€132 | +162% |
| Recurring financial income | 75 | €81 | €213 | +€132 | +162% |
| Financial charges | 65/66B | €222 | €6,846 | +€6,625 | +2,990% |
| Recurring financial charges | 65 | €222 | €6,846 | +€6,625 | +2,990% |
| Profit (loss) for the period before taxes | 9903 | €28,890 | €1,987 | -€26,903 | -93.1% |
| Income taxes | 67/77 | €10,136 | €3,273 | -€6,862 | -67.7% |
| Profit (loss) for the period | 9904 | €18,754 | -€1,286 | -€20,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,754 | -€1,286 | -€20,040 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.