SD IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€8,535
down €8,535 (-4.4%), from €194,185 to €185,650
- Debts after one year -€18,673
down €18,673 (-17.4%), from €107,101 to €88,428
of which Financial debts: -€97,602
- Reserves +€6,000
up €6,000 (+54.5%), from €11,000 to €17,000
- Provisions +€5,000
up €5,000 (+166.7%), from €3,000 to €8,000
- Current portion of long-term debt -€4,243
down €4,243 (-17.8%), from €23,817 to €19,574
- Other debts +€2,900
up €2,900 (+48.9%), from €5,925 to €8,825
- Gross operating margin +€5,793
up €5,793 (+24.6%), from €23,569 to €29,363
- Taxes +€2,156
up €2,156 (+164.1%), from €1,314 to €3,470
- Provisions +€2,000
up €2,000 (+66.7%), from €3,000 to €5,000
- Financial charges -€730
down €730 (-18.9%), from €3,868 to €3,138
- Other operating charges -€389
down €389 (-13.4%), from €2,908 to €2,519
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 | €194,845 | €186,065 | -€8,780 | -4.5% |
| Fixed assets | 21/28 | €194,185 | €185,650 | -€8,535 | -4.4% |
| Tangible fixed assets | 22/27 | €194,185 | €185,650 | -€8,535 | -4.4% |
| Land and buildings | 22 | €194,185 | €185,650 | -€8,535 | -4.4% |
| Current assets | 29/58 | €660 | €415 | -€245 | -37.1% |
| Cash at bank and in hand | 54/58 | €314 | - | -€314 | |
| Deferred charges and accrued income | 490/1 | €345 | €415 | +€70 | +20.1% |
| Total equity and liabilities | 10/49 | €194,845 | €186,065 | -€8,780 | -4.5% |
| Equity | 10/15 | €37,339 | €42,538 | +€5,200 | +13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,000 | €17,000 | +€6,000 | +54.5% |
| Distributable reserves | 133 | €11,000 | €17,000 | +€6,000 | +54.5% |
| Profit (loss) carried forward | 14 | €7,739 | €6,938 | -€800 | -10.3% |
| Provisions and deferred taxes | 16 | €3,000 | €8,000 | +€5,000 | +166.7% |
| Provisions for liabilities and charges | 160/5 | €3,000 | €8,000 | +€5,000 | +166.7% |
| Major repairs and maintenance | 162 | €3,000 | €8,000 | +€5,000 | +166.7% |
| Amounts payable | 17/49 | €154,506 | €135,527 | -€18,979 | -12.3% |
| Amounts payable after more than one year | 17 | €107,101 | €88,428 | -€18,673 | -17.4% |
| Financial debts | 170/4 | €107,101 | €9,500 | -€97,602 | -91.1% |
| Other amounts payable | 178/9 | - | €78,929 | +€78,929 | |
| Amounts payable within one year | 42/48 | €47,405 | €47,099 | -€306 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €23,817 | €19,574 | -€4,243 | -17.8% |
| Financial debts | 43 | €5,856 | €3,025 | -€2,830 | -48.3% |
| Credit institutions | 430/8 | €5,856 | €3,025 | -€2,830 | -48.3% |
| Trade debts | 44 | €10,493 | €12,711 | +€2,218 | +21.1% |
| Suppliers | 440/4 | €10,493 | €12,711 | +€2,218 | +21.1% |
| Taxes, remuneration and social security | 45 | €1,314 | €2,963 | +€1,648 | +125.4% |
| Taxes | 450/3 | €1,314 | €2,963 | +€1,648 | +125.4% |
| Other amounts payable | 47/48 | €5,925 | €8,825 | +€2,900 | +48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,535 | €8,535 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,000 | €5,000 | +€2,000 | +66.7% |
| Other operating charges | 640/8 | €2,908 | €2,519 | -€389 | -13.4% |
| Gross operating margin | 9900 | €23,569 | €29,363 | +€5,793 | +24.6% |
| Operating profit (loss) | 9901 | €9,126 | €13,309 | +€4,182 | +45.8% |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €3,868 | €3,138 | -€730 | -18.9% |
| Recurring financial charges | 65 | €3,868 | €3,138 | -€730 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €5,300 | €10,170 | +€4,870 | +91.9% |
| Income taxes | 67/77 | €1,314 | €3,470 | +€2,156 | +164.1% |
| Profit (loss) for the period | 9904 | €3,986 | €6,700 | +€2,714 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,986 | €6,700 | +€2,714 | +68.1% |
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.