SD EVENTS: 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 EVENTS
NACE 55.203, Holiday cottages, homes and apartments
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€39,747
2024 · €32,720+€7,027
Equity
€3.2m
2024 · €2.2m+€1.0m
Cash
€91,326
2024 · €80,755+€10,571
Balance sheet total
€3.4m
2024 · €2.4m+€1.1m
Largest movements
Assets
- Tangible fixed assets +€1.1m
up €1.1m (+47.4%), from €2.2m to €3.3m
of which Land and buildings: +€1.0m
Equity and liabilities
- Revaluation surpluses +€1.0m
up €1.0m (+50.0%), from €2.0m to €3.0m
- Reserves +€39,676
up €39,676 (+21.2%), from €187,343 to €227,019
of which Distributable reserves: +€43,185
Income statement
- Gross operating margin +€19,804
up €19,804 (+23.2%), from €85,300 to €105,104
- Taxes +€16,320
up €16,320 (+458.6%), from €3,559 to €19,879
- Depreciation -€3,124
down €3,124 (-7.9%), from €39,683 to €36,559
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
€32,720
Gross operating margin
+€19,804
Depreciation
+€3,124
Other operating charges
+€255
Financial income
+€554
Financial charges
-€800
Taxes
-€16,320
Deferred taxes and other
+€410
Result 2025
€39,747
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
+€65,860
Investment
-€1.1m
Financing
+€1.0m
Cash 2024
€80,755
From operations (derived)
+€65,860
Net result for the year
+€39,747
Depreciation
+€36,559
Smaller working-capital items
-€1,328
Receivables within one year
-€7,240
Tax, wage and social debts
+€12,869
Advances received
-€14,746
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€1.0m
Debts after one year
+€27,161
Current portion of long-term debt
+€5,432
Contributions, distributions and other
+€1.0m
Cash 2025
€91,326
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,360,281 | €3,428,890 | +€1.1m | +45.3% |
| Fixed assets | 21/28 | €2,220,748 | €3,272,073 | +€1.1m | +47.3% |
| Tangible fixed assets | 22/27 | €2,220,212 | €3,271,537 | +€1.1m | +47.4% |
| Land and buildings | 22 | €2,062,252 | €3,091,981 | +€1.0m | +49.9% |
| Plant, machinery and equipment | 23 | €146,560 | €160,652 | +€14,092 | +9.6% |
| Furniture and vehicles | 24 | €2,951 | €11,952 | +€9,001 | +305.0% |
| Other tangible fixed assets | 26 | €8,449 | €6,952 | -€1,497 | -17.7% |
| Financial fixed assets | 28 | €535 | €535 | = | 0.0% |
| Current assets | 29/58 | €139,533 | €156,818 | +€17,285 | +12.4% |
| Amounts receivable after more than one year | 29 | €51,646 | €52,895 | +€1,249 | +2.4% |
| Other amounts receivable | 291 | €51,646 | €52,895 | +€1,249 | +2.4% |
| Amounts receivable within one year | 40/41 | €5,357 | €12,597 | +€7,240 | +135.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,357 | €12,597 | +€7,240 | +135.1% |
| Cash at bank and in hand | 54/58 | €80,755 | €91,326 | +€10,571 | +13.1% |
| Deferred charges and accrued income | 490/1 | €1,775 | - | -€1,775 | |
| Total equity and liabilities | 10/49 | €2,360,281 | €3,428,890 | +€1.1m | +45.3% |
| Equity | 10/15 | €2,193,772 | €3,233,519 | +€1.0m | +47.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,000,000 | €3,000,000 | +€1.0m | +50.0% |
| Reserves | 13 | €187,343 | €227,019 | +€39,676 | +21.2% |
| Tax-exempt reserves | 132 | €23,843 | €20,334 | -€3,509 | -14.7% |
| Distributable reserves | 133 | €163,500 | €206,685 | +€43,185 | +26.4% |
| Profit (loss) carried forward | 14 | €1,429 | €1,500 | +€71 | +5.0% |
| Provisions and deferred taxes | 16 | €7,948 | €6,778 | -€1,170 | -14.7% |
| Deferred taxes | 168 | €7,948 | €6,778 | -€1,170 | -14.7% |
| Amounts payable | 17/49 | €158,562 | €188,593 | +€30,032 | +18.9% |
| Amounts payable after more than one year | 17 | €66,047 | €93,208 | +€27,161 | +41.1% |
| Financial debts | 170/4 | €66,047 | €93,208 | +€27,161 | +41.1% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €92,515 | €95,385 | +€2,870 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €13,579 | €19,011 | +€5,432 | +40.0% |
| Trade debts | 44 | €7,484 | €6,800 | -€684 | -9.1% |
| Suppliers | 440/4 | €7,484 | €6,800 | -€684 | -9.1% |
| Advances received on contracts in progress | 46 | €68,002 | €53,256 | -€14,746 | -21.7% |
| Taxes, remuneration and social security | 45 | €3,450 | €16,319 | +€12,869 | +373.0% |
| Taxes | 450/3 | €3,450 | €16,319 | +€12,869 | +373.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,683 | €36,559 | -€3,124 | -7.9% |
| Other operating charges | 640/8 | €7,103 | €6,848 | -€255 | -3.6% |
| Gross operating margin | 9900 | €85,300 | €105,104 | +€19,804 | +23.2% |
| Operating profit (loss) | 9901 | €38,514 | €61,697 | +€23,183 | +60.2% |
| Financial income | 75/76B | €368 | €922 | +€554 | +150.5% |
| Recurring financial income | 75 | €368 | €922 | +€554 | +150.5% |
| Financial charges | 65/66B | €3,363 | €4,163 | +€800 | +23.8% |
| Recurring financial charges | 65 | €3,363 | €4,163 | +€800 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €35,520 | €58,456 | +€22,937 | +64.6% |
| Transfer from deferred taxes | 780 | €759 | €1,170 | +€410 | +54.1% |
| Income taxes | 67/77 | €3,559 | €19,879 | +€16,320 | +458.6% |
| Profit (loss) for the period | 9904 | €32,720 | €39,747 | +€7,027 | +21.5% |
| Transfer from tax-exempt reserves | 789 | €2,277 | €3,509 | +€1,231 | +54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,998 | €43,256 | +€8,258 | +23.6% |
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 5 October 2026 via checked.be.