SDS Legal & Construct: what changed
SDS Legal & Construct
Largest movements
- Cash +€58,359
up €58,359 (+78.4%), from €74,432 to €132,791
mainly Net result for the year (+€96,204) and Deferred charges and accrued income (+€6,193)
- Receivables within one year +€25,119
up €25,119 (+163%), from €15,428 to €40,547
of which Other amounts receivable: +€22,397
- Tangible fixed assets +€13,729
up €13,729 (+2,733%), from €502 to €14,231
of which Other tangible fixed assets: +€13,925
- Deferred charges and accrued income -€6,193
down €6,193 (-95.3%), from €6,500 to €307
- Current investments +€4,096
new in 2025: €4,096
- Reserves +€96,204
up €96,204 (+138%), from €69,603 to €165,807
- Other debts -€2,651
down €2,651 (-100%), from €2,651 to €0
- Gross operating margin +€31,572
up €31,572 (+33.6%), from €93,955 to €125,527
- Taxes +€8,441
up €8,441 (+43.0%), from €19,638 to €28,079
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €96,862 | €191,971 | +€95,110 | +98.2% |
| Fixed assets | 21/28 | €502 | €14,231 | +€13,729 | +2,733% |
| Tangible fixed assets | 22/27 | €502 | €14,231 | +€13,729 | +2,733% |
| Furniture and vehicles | 24 | €502 | €306 | -€196 | -39.1% |
| Other tangible fixed assets | 26 | - | €13,925 | +€13,925 | |
| Current assets | 29/58 | €96,359 | €177,740 | +€81,381 | +84.5% |
| Amounts receivable within one year | 40/41 | €15,428 | €40,547 | +€25,119 | +163% |
| Trade receivables | 40 | €15,428 | €18,150 | +€2,723 | +17.6% |
| Other amounts receivable | 41 | €0 | €22,397 | +€22,397 | |
| Current investments | 50/53 | - | €4,096 | +€4,096 | |
| Cash at bank and in hand | 54/58 | €74,432 | €132,791 | +€58,359 | +78.4% |
| Deferred charges and accrued income | 490/1 | €6,500 | €307 | -€6,193 | -95.3% |
| Total equity and liabilities | 10/49 | €96,862 | €191,971 | +€95,110 | +98.2% |
| Equity | 10/15 | €72,603 | €168,807 | +€96,204 | +133% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €69,603 | €165,807 | +€96,204 | +138% |
| Distributable reserves | 133 | €69,603 | €165,807 | +€96,204 | +138% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €24,258 | €23,164 | -€1,094 | -4.5% |
| Amounts payable within one year | 42/48 | €24,258 | €23,164 | -€1,094 | -4.5% |
| Trade debts | 44 | €982 | €826 | -€156 | -15.9% |
| Suppliers | 440/4 | €982 | €826 | -€156 | -15.9% |
| Taxes, remuneration and social security | 45 | €20,626 | €22,338 | +€1,713 | +8.3% |
| Taxes | 450/3 | €20,626 | €22,338 | +€1,713 | +8.3% |
| Other amounts payable | 47/48 | €2,651 | €0 | -€2,651 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86 | €196 | +€110 | +127% |
| Other operating charges | 640/8 | €266 | €198 | -€68 | -25.6% |
| Gross operating margin | 9900 | €93,955 | €125,527 | +€31,572 | +33.6% |
| Operating profit (loss) | 9901 | €93,603 | €125,133 | +€31,530 | +33.7% |
| Financial income | 75/76B | €20 | €813 | +€793 | +3,966% |
| Recurring financial income | 75 | €20 | €813 | +€793 | +3,966% |
| Financial charges | 65/66B | €890 | €1,663 | +€774 | +87.0% |
| Recurring financial charges | 65 | €890 | €1,663 | +€774 | +87.0% |
| Profit (loss) for the period before taxes | 9903 | €92,733 | €124,283 | +€31,550 | +34.0% |
| Income taxes | 67/77 | €19,638 | €28,079 | +€8,441 | +43.0% |
| Profit (loss) for the period | 9904 | €73,095 | €96,204 | +€23,108 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,095 | €96,204 | +€23,108 | +31.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.