SD REAL ESTATE: what changed
What changed
SD REAL ESTATE
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€28,623
2024 · -€73,730+€45,108
Equity
-€119,524
2024 · -€90,901-€28,623
Cash
€76
2024 · €531-€455
Balance sheet total
€804,803
2024 · €812,226-€7,423
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€28,623
down €28,623 (-30.5%), from -€93,901 to -€122,524
- Other debts +€21,600
up €21,600 (+4.8%), from €447,695 to €469,295
Income statement
- Gross operating margin +€28,995
up €28,995 (+83.9%), from -€34,576 to -€5,581
- Financial charges -€11,029
down €11,029 (-36.9%), from €29,904 to €18,875
Change in the result, 2024 to 2025
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 2024
-€73,730
Gross operating margin
+€28,995
Other operating charges
+€78
Other operating items
+€5,005
Financial charges
+€11,029
Result 2025
-€28,623
raises the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€455
Investment
€0
Financing
€0
Cash 2024
€531
From operations (derived)
-€455
Net result for the year
-€28,623
Receivables within one year
+€7,028
Smaller working-capital items
-€78
Other debts
+€21,600
Accrued charges and deferred income
-€382
Cash 2025
€76
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €812,226 | €804,803 | -€7,423 | -0.9% |
| Current assets | 29/58 | €812,226 | €804,803 | -€7,423 | -0.9% |
| Stocks and contracts in progress | 3 | €709,005 | €709,005 | = | 0.0% |
| Stocks | 30/36 | €709,005 | €709,005 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €102,690 | €95,662 | -€7,028 | -6.8% |
| Trade receivables | 40 | €94,160 | €95,633 | +€1,473 | +1.6% |
| Other amounts receivable | 41 | €8,530 | €29 | -€8,501 | -99.7% |
| Cash at bank and in hand | 54/58 | €531 | €76 | -€455 | -85.6% |
| Deferred charges and accrued income | 490/1 | - | €60 | +€60 | |
| Total equity and liabilities | 10/49 | €812,226 | €804,803 | -€7,423 | -0.9% |
| Equity | 10/15 | -€90,901 | -€119,524 | -€28,623 | -31.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,901 | -€122,524 | -€28,623 | -30.5% |
| Amounts payable | 17/49 | €903,126 | €924,327 | +€21,200 | +2.3% |
| Amounts payable within one year | 42/48 | €900,013 | €921,595 | +€21,582 | +2.4% |
| Financial debts | 43 | €452,000 | €452,000 | = | 0.0% |
| Credit institutions | 430/8 | €452,000 | €452,000 | = | 0.0% |
| Trade debts | 44 | €318 | €300 | -€18 | -5.6% |
| Suppliers | 440/4 | €318 | €300 | -€18 | -5.6% |
| Other amounts payable | 47/48 | €447,695 | €469,295 | +€21,600 | +4.8% |
| Accrued charges and deferred income | 492/3 | €3,113 | €2,731 | -€382 | -12.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €4,245 | €4,167 | -€78 | -1.8% |
| Non-recurring operating charges | 66A | €5,005 | €0 | -€5,005 | -100% |
| Gross operating margin | 9900 | -€34,576 | -€5,581 | +€28,995 | +83.9% |
| Operating profit (loss) | 9901 | -€43,826 | -€9,748 | +€34,078 | +77.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €29,904 | €18,875 | -€11,029 | -36.9% |
| Recurring financial charges | 65 | €29,904 | €18,875 | -€11,029 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | -€73,730 | -€28,623 | +€45,108 | +61.2% |
| Profit (loss) for the period | 9904 | -€73,730 | -€28,623 | +€45,108 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,730 | -€28,623 | +€45,108 | +61.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.