SD Groep: 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 Groep
Largest movements
- Deferred charges and accrued income +€41,480
up €41,480 (+2148.5%), from €1,931 to €43,410
- Receivables within one year -€40,033
down €40,033 (-95.7%), from €41,822 to €1,789
of which Trade receivables: -€40,446
- Tangible fixed assets -€9,722
no longer reported in 2025 (was €9,722)
of which Plant, machinery and equipment: -€6,906
- Trade debts -€37,454
no longer reported in 2025 (was €37,454)
- Advances received +€34,554
new in 2025: €34,554
- Accrued charges and deferred income +€19,421
new in 2025: €19,421
- Profit (loss) carried forward -€13,953
down €13,953 (-31.1%), from -€44,875 to -€58,828
- Current portion of long-term debt -€6,631
no longer reported in 2025 (was €6,631)
- Depreciation -€3,911
no longer reported in 2025 (was €3,911)
- Gross operating margin +€3,232
up €3,232 (+58.9%), from -€5,488 to -€2,256
- Other operating charges +€1,168
up €1,168 (+93.3%), from €1,252 to €2,420
- Financial charges +€525
up €525 (+13.3%), from €3,933 to €4,458
of which Non-recurring financial charges: +€979
- Financial income -€144
down €144 (-76.7%), from €187 to €44
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,475 | €45,199 | -€8,276 | -15.5% |
| Fixed assets | 21/28 | €9,722 | - | -€9,722 | |
| Tangible fixed assets | 22/27 | €9,722 | - | -€9,722 | |
| Plant, machinery and equipment | 23 | €6,906 | - | -€6,906 | |
| Furniture and vehicles | 24 | €342 | - | -€342 | |
| Other tangible fixed assets | 26 | €2,475 | - | -€2,475 | |
| Current assets | 29/58 | €43,752 | €45,199 | +€1,447 | +3.3% |
| Amounts receivable within one year | 40/41 | €41,822 | €1,789 | -€40,033 | -95.7% |
| Trade receivables | 40 | €40,446 | - | -€40,446 | |
| Other amounts receivable | 41 | €1,376 | €1,789 | +€413 | +30.0% |
| Deferred charges and accrued income | 490/1 | €1,931 | €43,410 | +€41,480 | +2148.5% |
| Total equity and liabilities | 10/49 | €53,475 | €45,199 | -€8,276 | -15.5% |
| Equity | 10/15 | -€21,495 | -€35,448 | -€13,953 | -64.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,380 | €18,380 | = | 0.0% |
| Distributable reserves | 133 | €18,380 | €18,380 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,875 | -€58,828 | -€13,953 | -31.1% |
| Amounts payable | 17/49 | €74,969 | €80,647 | +€5,678 | +7.6% |
| Amounts payable after more than one year | 17 | €1,000 | - | -€1,000 | |
| Financial debts | 170/4 | €1,000 | - | -€1,000 | |
| Amounts payable within one year | 42/48 | €73,969 | €61,226 | -€12,743 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €6,631 | - | -€6,631 | |
| Financial debts | 43 | €4,673 | €4,985 | +€311 | +6.7% |
| Credit institutions | 430/8 | €4,673 | €4,985 | +€311 | +6.7% |
| Trade debts | 44 | €37,454 | - | -€37,454 | |
| Suppliers | 440/4 | €37,454 | - | -€37,454 | |
| Advances received on contracts in progress | 46 | - | €34,554 | +€34,554 | |
| Taxes, remuneration and social security | 45 | €312 | €269 | -€43 | -13.8% |
| Taxes | 450/3 | €312 | €269 | -€43 | -13.8% |
| Other amounts payable | 47/48 | €24,899 | €21,419 | -€3,480 | -14.0% |
| Accrued charges and deferred income | 492/3 | - | €19,421 | +€19,421 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,911 | - | -€3,911 | |
| Other operating charges | 640/8 | €1,252 | €2,420 | +€1,168 | +93.3% |
| Non-recurring operating charges | 66A | - | €4,722 | +€4,722 | |
| Gross operating margin | 9900 | -€5,488 | -€2,256 | +€3,232 | +58.9% |
| Operating profit (loss) | 9901 | -€10,650 | -€9,398 | +€1,252 | +11.8% |
| Financial income | 75/76B | €187 | €44 | -€144 | -76.7% |
| Recurring financial income | 75 | €187 | €44 | -€144 | -76.7% |
| Financial charges | 65/66B | €3,933 | €4,458 | +€525 | +13.3% |
| Recurring financial charges | 65 | €3,933 | €3,479 | -€454 | -11.5% |
| Non-recurring financial charges | 66B | - | €979 | +€979 | |
| Profit (loss) for the period before taxes | 9903 | -€14,396 | -€13,812 | +€584 | +4.1% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€14,524 | -€13,953 | +€571 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,524 | -€13,953 | +€571 | +3.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.