SDF 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.
SDF IMMO
Largest movements
- Receivables within one year -€60,099
down €60,099 (-75.7%), from €79,355 to €19,256
- Tangible fixed assets -€31,727
down €31,727 (-5.0%), from €630,386 to €598,659
of which Land and buildings: -€25,585
- Other debts -€66,541
down €66,541 (-48.7%), from €136,541 to €70,000
- Debts after one year -€30,144
down €30,144 (-5.4%), from €563,397 to €533,253
of which Financial debts: -€30,144
- Gross operating margin -€3,058
down €3,058 (-4.9%), from €62,822 to €59,764
- Financial charges -€1,301
down €1,301 (-6.8%), from €19,217 to €17,916
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 | €715,439 | €624,208 | -€91,231 | -12.8% |
| Fixed assets | 21/28 | €630,386 | €598,659 | -€31,727 | -5.0% |
| Tangible fixed assets | 22/27 | €630,386 | €598,659 | -€31,727 | -5.0% |
| Land and buildings | 22 | €624,244 | €598,659 | -€25,585 | -4.1% |
| Furniture and vehicles | 24 | €6,142 | - | -€6,142 | |
| Current assets | 29/58 | €85,053 | €25,549 | -€59,504 | -70.0% |
| Amounts receivable within one year | 40/41 | €79,355 | €19,256 | -€60,099 | -75.7% |
| Other amounts receivable | 41 | €79,355 | €19,256 | -€60,099 | -75.7% |
| Cash at bank and in hand | 54/58 | €1,073 | €1,667 | +€594 | +55.4% |
| Deferred charges and accrued income | 490/1 | €4,625 | €4,625 | = | 0.0% |
| Total equity and liabilities | 10/49 | €715,439 | €624,208 | -€91,231 | -12.8% |
| Equity | 10/15 | -€21,450 | -€16,650 | +€4,800 | +22.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,450 | -€91,650 | +€4,800 | +5.0% |
| Amounts payable | 17/49 | €736,889 | €640,859 | -€96,030 | -13.0% |
| Amounts payable after more than one year | 17 | €563,397 | €533,253 | -€30,144 | -5.4% |
| Financial debts | 170/4 | €538,397 | €508,253 | -€30,144 | -5.6% |
| Other amounts payable | 178/9 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €173,492 | €107,606 | -€65,886 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €30,395 | €30,145 | -€250 | -0.8% |
| Trade debts | 44 | €6,556 | €7,461 | +€905 | +13.8% |
| Suppliers | 440/4 | €6,556 | €7,461 | +€905 | +13.8% |
| Other amounts payable | 47/48 | €136,541 | €70,000 | -€66,541 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,285 | €31,727 | -€558 | -1.7% |
| Other operating charges | 640/8 | €5,265 | €5,611 | +€346 | +6.6% |
| Gross operating margin | 9900 | €62,822 | €59,764 | -€3,058 | -4.9% |
| Operating profit (loss) | 9901 | €25,272 | €22,426 | -€2,846 | -11.3% |
| Financial income | 75/76B | - | €290 | +€290 | |
| Recurring financial income | 75 | - | €290 | +€290 | |
| Financial charges | 65/66B | €19,217 | €17,916 | -€1,301 | -6.8% |
| Recurring financial charges | 65 | €19,217 | €17,916 | -€1,301 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €6,055 | €4,800 | -€1,255 | -20.7% |
| Profit (loss) for the period | 9904 | €6,055 | €4,800 | -€1,255 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,055 | €4,800 | -€1,255 | -20.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.