SDP 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.
SDP IMMO
Largest movements
- Tangible fixed assets -€187,280
no longer reported in 2025 (was €187,280)
- Receivables within one year -€10,965
no longer reported in 2025 (was €10,965)
- Debts after one year -€374,052
down €374,052 (-55.5%), from €674,060 to €300,008
of which Financial debts: -€356,872
- Profit (loss) carried forward +€212,049
up €212,049 (+36.2%), from -€586,531 to -€374,483
- Current portion of long-term debt -€27,779
no longer reported in 2025 (was €27,779)
- Trade debts -€3,914
down €3,914 (-95.0%), from €4,122 to €208
- Other debts -€3,750
no longer reported in 2025 (was €3,750)
- Gross operating margin +€194,045
up €194,045 (+393.1%), from €49,368 to €243,413
- Depreciation -€51,540
no longer reported in 2025 (was €51,540)
- Other operating charges +€8,898
up €8,898 (+135.9%), from €6,548 to €15,446
- Financial charges +€2,665
up €2,665 (+20.1%), from €13,253 to €15,918
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 | €200,235 | €733 | -€199,502 | -99.6% |
| Fixed assets | 21/28 | €187,280 | - | -€187,280 | |
| Tangible fixed assets | 22/27 | €187,280 | - | -€187,280 | |
| Land and buildings | 22 | €187,280 | - | -€187,280 | |
| Current assets | 29/58 | €12,954 | €733 | -€12,221 | -94.3% |
| Amounts receivable within one year | 40/41 | €10,965 | - | -€10,965 | |
| Trade receivables | 40 | €10,965 | - | -€10,965 | |
| Cash at bank and in hand | 54/58 | - | €733 | +€733 | |
| Deferred charges and accrued income | 490/1 | €1,989 | - | -€1,989 | |
| Total equity and liabilities | 10/49 | €200,235 | €733 | -€199,502 | -99.6% |
| Equity | 10/15 | -€511,531 | -€299,483 | +€212,049 | +41.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€586,531 | -€374,483 | +€212,049 | +36.2% |
| Amounts payable | 17/49 | €711,766 | €300,216 | -€411,550 | -57.8% |
| Amounts payable after more than one year | 17 | €674,060 | €300,008 | -€374,052 | -55.5% |
| Financial debts | 170/4 | €356,872 | - | -€356,872 | |
| Other amounts payable | 178/9 | €317,188 | €300,008 | -€17,180 | -5.4% |
| Amounts payable within one year | 42/48 | €37,706 | €208 | -€37,498 | -99.4% |
| Current portion of amounts payable after more than one year | 42 | €27,779 | - | -€27,779 | |
| Financial debts | 43 | €2,054 | - | -€2,054 | |
| Credit institutions | 430/8 | €2,054 | - | -€2,054 | |
| Trade debts | 44 | €4,122 | €208 | -€3,914 | -95.0% |
| Suppliers | 440/4 | €4,122 | €208 | -€3,914 | -95.0% |
| Other amounts payable | 47/48 | €3,750 | - | -€3,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,540 | - | -€51,540 | |
| Other operating charges | 640/8 | €6,548 | €15,446 | +€8,898 | +135.9% |
| Gross operating margin | 9900 | €49,368 | €243,413 | +€194,045 | +393.1% |
| Operating profit (loss) | 9901 | -€8,720 | €227,967 | +€236,687 | |
| Financial charges | 65/66B | €13,253 | €15,918 | +€2,665 | +20.1% |
| Recurring financial charges | 65 | €13,253 | €15,918 | +€2,665 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,973 | €212,049 | +€234,021 | |
| Profit (loss) for the period | 9904 | -€21,973 | €212,049 | +€234,021 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,973 | €212,049 | +€234,021 |
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 5 October 2026 via checked.be.