SD PRO: what changed
What changed
SD PRO
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€316,725
2025 · €242,963+€73,763
Equity
€336,852
2025 · €325,127+€11,725
Cash
€4,809
2025 · €1,604+€3,205
Balance sheet total
€1.3m
2025 · €1.1m+€182,302
Largest movements
Assets
- Receivables within one year +€182,201
up €182,201 (+24,831%), from €734 to €182,934
of which Other amounts receivable: +€182,201
Equity and liabilities
- Other debts +€217,330
up €217,330 (+32.8%), from €663,310 to €880,639
- Debts after one year -€44,305
down €44,305 (-43.1%), from €102,845 to €58,540
Income statement
- Gross operating margin +€73,032
up €73,032 (+28.7%), from €254,133 to €327,165
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€242,963
Gross operating margin
+€73,032
Depreciation
-€2,047
Other operating charges
+€899
Financial income
+€0
Financial charges
+€861
Taxes
+€1,017
Result 2026
€316,725
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€348,458
Investment
€0
Financing
-€345,253
Cash 2025
€1,604
From operations (derived)
+€348,458
Net result for the year
+€316,725
Depreciation
+€2,717
Receivables within one year
-€182,201
Deferred charges and accrued income
+€387
Trade debts
-€6,500
Other debts
+€217,330
Financing
-€345,253
Debts after one year
-€44,305
Current portion of long-term debt
+€4,128
Short-term financial debts
-€76
Contributions, distributions and other
-€305,000
Cash 2026
€4,809
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,143,277 | €1,325,578 | +€182,302 | +15.9% |
| Fixed assets | 21/28 | €1,140,552 | €1,137,835 | -€2,717 | -0.2% |
| Tangible fixed assets | 22/27 | €288,389 | €285,673 | -€2,717 | -0.9% |
| Land and buildings | 22 | €288,389 | €285,673 | -€2,717 | -0.9% |
| Financial fixed assets | 28 | €852,162 | €852,162 | = | 0.0% |
| Current assets | 29/58 | €2,725 | €187,743 | +€185,018 | +6,790% |
| Amounts receivable within one year | 40/41 | €734 | €182,934 | +€182,201 | +24,831% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €734 | €182,934 | +€182,201 | +24,831% |
| Cash at bank and in hand | 54/58 | €1,604 | €4,809 | +€3,205 | +200% |
| Deferred charges and accrued income | 490/1 | €387 | €0 | -€387 | -100% |
| Total equity and liabilities | 10/49 | €1,143,277 | €1,325,578 | +€182,302 | +15.9% |
| Equity | 10/15 | €325,127 | €336,852 | +€11,725 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €212,274 | €212,274 | = | 0.0% |
| Reserves | 13 | €94,254 | €105,979 | +€11,725 | +12.4% |
| Distributable reserves | 133 | €94,254 | €105,979 | +€11,725 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €818,150 | €988,726 | +€170,576 | +20.8% |
| Amounts payable after more than one year | 17 | €102,845 | €58,540 | -€44,305 | -43.1% |
| Financial debts | 170/4 | €102,845 | €58,540 | -€44,305 | -43.1% |
| Amounts payable within one year | 42/48 | €715,305 | €930,186 | +€214,882 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €39,577 | €43,705 | +€4,128 | +10.4% |
| Financial debts | 43 | €5,763 | €5,687 | -€76 | -1.3% |
| Credit institutions | 430/8 | €5,763 | €5,687 | -€76 | -1.3% |
| Trade debts | 44 | €6,655 | €155 | -€6,500 | -97.7% |
| Suppliers | 440/4 | €6,655 | €155 | -€6,500 | -97.7% |
| Other amounts payable | 47/48 | €663,310 | €880,639 | +€217,330 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €670 | €2,717 | +€2,047 | +306% |
| Other operating charges | 640/8 | €3,766 | €2,867 | -€899 | -23.9% |
| Gross operating margin | 9900 | €254,133 | €327,165 | +€73,032 | +28.7% |
| Operating profit (loss) | 9901 | €249,697 | €321,582 | +€71,884 | +28.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,023 | €1,162 | -€861 | -42.6% |
| Recurring financial charges | 65 | €2,023 | €1,162 | -€861 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €247,674 | €320,420 | +€72,746 | +29.4% |
| Income taxes | 67/77 | €4,712 | €3,695 | -€1,017 | -21.6% |
| Profit (loss) for the period | 9904 | €242,963 | €316,725 | +€73,763 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €242,963 | €316,725 | +€73,763 | +30.4% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.