SDM 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.
SDM Immo
Largest movements
- Cash +€4,162
up €4,162 (+22.0%), from €18,930 to €23,092
mainly Other debts (+€12,907) and Receivables within one year (+€2,752)
- Receivables within one year -€2,752
down €2,752 (-55.4%), from €4,969 to €2,217
of which Trade receivables: -€2,496
- Tangible fixed assets -€372
down €372 (-9.0%), from €4,146 to €3,774
- Other debts +€12,907
up €12,907 (+319.8%), from €4,036 to €16,943
- Profit (loss) carried forward -€7,614
down €7,614, from €0 to -€7,614
- Reserves -€2,782
down €2,782 (-100.0%), from €2,782 to €0
- Tax, wage and social debts -€1,304
down €1,304 (-64.1%), from €2,033 to €729
of which Remuneration and social security: -€1,000
- Trade debts -€438
down €438 (-50.8%), from €863 to €425
- Gross operating margin -€14,852
down €14,852, from €5,792 to -€9,060
- Taxes -€993
down €993 (-100.0%), from €993 to €0
- Depreciation -€640
down €640 (-35.7%), from €1,794 to €1,154
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 | €28,314 | €29,083 | +€769 | +2.7% |
| Fixed assets | 21/28 | €4,146 | €3,774 | -€372 | -9.0% |
| Tangible fixed assets | 22/27 | €4,146 | €3,774 | -€372 | -9.0% |
| Furniture and vehicles | 24 | €4,146 | €3,774 | -€372 | -9.0% |
| Current assets | 29/58 | €24,168 | €25,309 | +€1,141 | +4.7% |
| Amounts receivable within one year | 40/41 | €4,969 | €2,217 | -€2,752 | -55.4% |
| Trade receivables | 40 | €3,706 | €1,210 | -€2,496 | -67.3% |
| Other amounts receivable | 41 | €1,263 | €1,007 | -€256 | -20.3% |
| Cash at bank and in hand | 54/58 | €18,930 | €23,092 | +€4,162 | +22.0% |
| Deferred charges and accrued income | 490/1 | €269 | €0 | -€269 | -100.0% |
| Total equity and liabilities | 10/49 | €28,314 | €29,083 | +€769 | +2.7% |
| Equity | 10/15 | €21,382 | €10,986 | -€10,396 | -48.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,782 | €0 | -€2,782 | -100.0% |
| Distributable reserves | 133 | €2,782 | €0 | -€2,782 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€7,614 | -€7,614 | |
| Amounts payable | 17/49 | €6,932 | €18,097 | +€11,165 | +161.1% |
| Amounts payable within one year | 42/48 | €6,932 | €18,097 | +€11,165 | +161.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €863 | €425 | -€438 | -50.8% |
| Suppliers | 440/4 | €863 | €425 | -€438 | -50.8% |
| Taxes, remuneration and social security | 45 | €2,033 | €729 | -€1,304 | -64.1% |
| Taxes | 450/3 | €1,033 | €729 | -€304 | -29.4% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100.0% |
| Other amounts payable | 47/48 | €4,036 | €16,943 | +€12,907 | +319.8% |
| Non-recurring operating income | 76A | €7,779 | €0 | -€7,779 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,794 | €1,154 | -€640 | -35.7% |
| Other operating charges | 640/8 | €66 | €67 | +€1 | +2.0% |
| Non-recurring operating charges | 66A | €35 | €0 | -€35 | -100.0% |
| Gross operating margin | 9900 | €5,792 | -€9,060 | -€14,852 | |
| Operating profit (loss) | 9901 | €3,897 | -€10,282 | -€14,178 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €122 | €114 | -€8 | -6.6% |
| Recurring financial charges | 65 | €122 | €114 | -€8 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €3,774 | -€10,396 | -€14,170 | |
| Income taxes | 67/77 | €993 | €0 | -€993 | -100.0% |
| Profit (loss) for the period | 9904 | €2,782 | -€10,396 | -€13,177 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,782 | -€10,396 | -€13,177 |
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 2 October 2026 via checked.be.