SDD Construct: 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.
SDD Construct
Largest movements
- Stocks and contracts +€56,940
up €56,940 (+20.2%), from €281,537 to €338,477
- Receivables within one year -€30,618
down €30,618 (-30.2%), from €101,270 to €70,651
of which Trade receivables: -€30,618
- Tangible fixed assets -€28,508
down €28,508 (-33.7%), from €84,660 to €56,152
of which Leasing and similar rights: -€22,514
- Cash +€21,862
up €21,862 (+24.3%), from €90,009 to €111,871
mainly Net result for the year (+€126,170) and Receivables within one year (+€30,618)
- Reserves +€126,170
up €126,170 (+139.9%), from €90,198 to €216,367
- Other debts -€73,802
down €73,802 (-37.8%), from €195,485 to €121,683
- Trade debts -€26,426
down €26,426 (-75.0%), from €35,243 to €8,817
- Debts after one year -€14,687
down €14,687 (-36.8%), from €39,864 to €25,177
- Tax, wage and social debts +€12,989
up €12,989 (+269.5%), from €4,819 to €17,808
of which Remuneration and social security: +€7,410
- Gross operating margin +€92,126
up €92,126 (+41.5%), from €221,984 to €314,110
- Taxes +€22,610
up €22,610 (+62.6%), from €36,100 to €58,710
- Staff costs +€19,685
up €19,685 (+28.7%), from €68,486 to €88,171
- Depreciation +€14,637
up €14,637 (+96.3%), from €15,205 to €29,842
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 | €674,499 | €692,323 | +€17,823 | +2.6% |
| Fixed assets | 21/28 | €197,160 | €168,652 | -€28,508 | -14.5% |
| Tangible fixed assets | 22/27 | €84,660 | €56,152 | -€28,508 | -33.7% |
| Furniture and vehicles | 24 | €18,439 | €12,445 | -€5,994 | -32.5% |
| Leasing and similar rights | 25 | €66,222 | €43,707 | -€22,514 | -34.0% |
| Financial fixed assets | 28 | €112,500 | €112,500 | = | 0.0% |
| Current assets | 29/58 | €477,339 | €523,671 | +€46,332 | +9.7% |
| Stocks and contracts in progress | 3 | €281,537 | €338,477 | +€56,940 | +20.2% |
| Stocks | 30/36 | €281,537 | €338,477 | +€56,940 | +20.2% |
| Amounts receivable within one year | 40/41 | €101,270 | €70,651 | -€30,618 | -30.2% |
| Trade receivables | 40 | €55,121 | €24,503 | -€30,618 | -55.5% |
| Other amounts receivable | 41 | €46,149 | €46,149 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €90,009 | €111,871 | +€21,862 | +24.3% |
| Deferred charges and accrued income | 490/1 | €4,524 | €2,672 | -€1,852 | -40.9% |
| Total equity and liabilities | 10/49 | €674,499 | €692,323 | +€17,823 | +2.6% |
| Equity | 10/15 | €368,942 | €495,112 | +€126,170 | +34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,198 | €216,367 | +€126,170 | +139.9% |
| Distributable reserves | 133 | €90,198 | €216,367 | +€126,170 | +139.9% |
| Profit (loss) carried forward | 14 | €260,145 | €260,145 | = | 0.0% |
| Amounts payable | 17/49 | €305,557 | €197,211 | -€108,346 | -35.5% |
| Amounts payable after more than one year | 17 | €39,864 | €25,177 | -€14,687 | -36.8% |
| Financial debts | 170/4 | €39,864 | €25,177 | -€14,687 | -36.8% |
| Amounts payable within one year | 42/48 | €254,572 | €162,994 | -€91,577 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €19,026 | €14,687 | -€4,339 | -22.8% |
| Trade debts | 44 | €35,243 | €8,817 | -€26,426 | -75.0% |
| Suppliers | 440/4 | €35,243 | €8,817 | -€26,426 | -75.0% |
| Taxes, remuneration and social security | 45 | €4,819 | €17,808 | +€12,989 | +269.5% |
| Taxes | 450/3 | €4,038 | €9,617 | +€5,579 | +138.1% |
| Remuneration and social security | 454/9 | €781 | €8,190 | +€7,410 | +949.2% |
| Other amounts payable | 47/48 | €195,485 | €121,683 | -€73,802 | -37.8% |
| Accrued charges and deferred income | 492/3 | €11,121 | €9,039 | -€2,082 | -18.7% |
| Non-recurring operating income | 76A | €11,179 | - | -€11,179 | |
| Remuneration, social security and pensions | 62 | €68,486 | €88,171 | +€19,685 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,205 | €29,842 | +€14,637 | +96.3% |
| Other operating charges | 640/8 | €1,152 | €299 | -€853 | -74.0% |
| Gross operating margin | 9900 | €221,984 | €314,110 | +€92,126 | +41.5% |
| Operating profit (loss) | 9901 | €137,140 | €195,797 | +€58,657 | +42.8% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €12,707 | €10,917 | -€1,790 | -14.1% |
| Recurring financial charges | 65 | €12,707 | €10,917 | -€1,790 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €124,438 | €184,880 | +€60,442 | +48.6% |
| Income taxes | 67/77 | €36,100 | €58,710 | +€22,610 | +62.6% |
| Profit (loss) for the period | 9904 | €88,338 | €126,170 | +€37,832 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €88,338 | €126,170 | +€37,832 | +42.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.