SD Vastgoed: what changed
Two financial 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 Vastgoed
Largest movements
- Tangible fixed assets -€24,291
down €24,291 (-3.0%), from €798,745 to €774,454
of which Land and buildings: -€15,760
- Receivables within one year +€20,040
up €20,040 (+171%), from €11,748 to €31,788
- Cash +€14,096
up €14,096 (+113%), from €12,469 to €26,565
mainly Depreciation (+€33,054) and Net result for the year (+€26,227)
- Profit (loss) carried forward +€26,227
up €26,227 (+16.5%), from -€159,191 to -€132,964
- Other debts -€23,373
down €23,373 (-37.0%), from €63,106 to €39,733
- Debts after one year +€8,604
up €8,604 (+1.0%), from €860,548 to €869,152
- Gross operating margin +€33,732
up €33,732 (+49.8%), from €67,799 to €101,531
- Financial charges +€16,814
up €16,814 (+81.3%), from €20,680 to €37,494
- Staff costs +€3,060
new in 2025: €3,060
- Depreciation -€2,528
down €2,528 (-7.1%), from €35,582 to €33,054
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.
Derived cash bridge
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 | €822,962 | €832,808 | +€9,846 | +1.2% |
| Fixed assets | 21/28 | €798,745 | €774,454 | -€24,291 | -3.0% |
| Tangible fixed assets | 22/27 | €798,745 | €774,454 | -€24,291 | -3.0% |
| Land and buildings | 22 | €721,442 | €705,682 | -€15,760 | -2.2% |
| Plant, machinery and equipment | 23 | €10,809 | €5,777 | -€5,031 | -46.5% |
| Furniture and vehicles | 24 | €23,181 | €17,940 | -€5,241 | -22.6% |
| Other tangible fixed assets | 26 | €43,313 | €45,054 | +€1,741 | +4.0% |
| Current assets | 29/58 | €24,217 | €58,354 | +€34,137 | +141% |
| Amounts receivable within one year | 40/41 | €11,748 | €31,788 | +€20,040 | +171% |
| Trade receivables | 40 | €11,748 | €31,788 | +€20,040 | +171% |
| Cash at bank and in hand | 54/58 | €12,469 | €26,565 | +€14,096 | +113% |
| Total equity and liabilities | 10/49 | €822,962 | €832,808 | +€9,846 | +1.2% |
| Equity | 10/15 | -€152,991 | -€126,764 | +€26,227 | +17.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,191 | -€132,964 | +€26,227 | +16.5% |
| Amounts payable | 17/49 | €975,953 | €959,571 | -€16,381 | -1.7% |
| Amounts payable after more than one year | 17 | €860,548 | €869,152 | +€8,604 | +1.0% |
| Financial debts | 170/4 | €860,548 | €869,152 | +€8,604 | +1.0% |
| Amounts payable within one year | 42/48 | €106,925 | €86,010 | -€20,915 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €34,132 | €38,637 | +€4,505 | +13.2% |
| Trade debts | 44 | €4,846 | €3,709 | -€1,137 | -23.5% |
| Suppliers | 440/4 | €4,846 | €3,709 | -€1,137 | -23.5% |
| Advances received on contracts in progress | 46 | - | €260 | +€260 | |
| Taxes, remuneration and social security | 45 | €4,841 | €3,672 | -€1,169 | -24.2% |
| Taxes | 450/3 | €4,841 | €3,672 | -€1,169 | -24.2% |
| Other amounts payable | 47/48 | €63,106 | €39,733 | -€23,373 | -37.0% |
| Accrued charges and deferred income | 492/3 | €8,480 | €4,409 | -€4,071 | -48.0% |
| Remuneration, social security and pensions | 62 | - | €3,060 | +€3,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,582 | €33,054 | -€2,528 | -7.1% |
| Other operating charges | 640/8 | €1,771 | €1,695 | -€76 | -4.3% |
| Gross operating margin | 9900 | €67,799 | €101,531 | +€33,732 | +49.8% |
| Operating profit (loss) | 9901 | €30,445 | €63,721 | +€33,276 | +109% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.8% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.8% |
| Financial charges | 65/66B | €20,680 | €37,494 | +€16,814 | +81.3% |
| Recurring financial charges | 65 | €20,680 | €37,494 | +€16,814 | +81.3% |
| Profit (loss) for the period before taxes | 9903 | €9,771 | €26,227 | +€16,456 | +168% |
| Profit (loss) for the period | 9904 | €9,771 | €26,227 | +€16,456 | +168% |
| Profit (loss) for the period to be appropriated | 9905 | €9,771 | €26,227 | +€16,456 | +168% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.