SIDCO: what changed
Two financial 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.
What changed
SIDCO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€120,879
2024 · €135,404-€14,525
Equity
€2.2m
2024 · €2.0m+€120,879
Cash
€203,148
2024 · €160,646+€42,503
Balance sheet total
€2.4m
2024 · €2.4m+€55,893
Largest movements
Assets
- Cash +€42,503
up €42,503 (+26.5%), from €160,646 to €203,148
mainly Net result for the year (+€120,879) and Depreciation (+€87,782)
Equity and liabilities
- Reserves +€120,879
up €120,879 (+8.9%), from €1.4m to €1.5m
of which Distributable reserves: +€130,017
- Debts after one year -€50,096
down €50,096 (-30.0%), from €167,144 to €117,048
Income statement
- Gross operating margin -€14,227
down €14,227 (-4.4%), from €325,950 to €311,723
- Depreciation +€7,947
up €7,947 (+10.0%), from €79,835 to €87,782
- Taxes -€7,050
down €7,050 (-11.9%), from €59,321 to €52,272
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.
Result 2024
€135,404
Gross operating margin
-€14,227
Depreciation
-€7,947
Other operating charges
-€1,250
Financial income
+€637
Financial charges
+€1,212
Taxes
+€7,050
Result 2025
€120,879
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.
From operations
+€191,216
Investment
-€99,298
Financing
-€49,416
Cash 2024
€160,646
From operations (derived)
+€191,216
Net result for the year
+€120,879
Depreciation
+€87,782
Receivables within one year
-€1,835
Smaller working-capital items
-€21
Provisions
-€3,046
Tax, wage and social debts
-€13,991
Other debts
+€1,449
Investment (derived)
-€99,298
Investment in fixed assets (net)
-€99,298
Financing
-€49,416
Debts after one year
-€50,096
Current portion of long-term debt
+€681
Cash 2025
€203,148
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,373,681 | €2,429,574 | +€55,893 | +2.4% |
| Fixed assets | 21/28 | €2,197,433 | €2,208,949 | +€11,516 | +0.5% |
| Tangible fixed assets | 22/27 | €2,197,359 | €2,208,875 | +€11,516 | +0.5% |
| Land and buildings | 22 | €2,191,632 | €2,204,581 | +€12,949 | +0.6% |
| Furniture and vehicles | 24 | €5,727 | €4,293 | -€1,434 | -25.0% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €176,247 | €220,624 | +€44,377 | +25.2% |
| Amounts receivable within one year | 40/41 | €10,893 | €12,728 | +€1,835 | +16.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,893 | €12,728 | +€1,835 | +16.8% |
| Cash at bank and in hand | 54/58 | €160,646 | €203,148 | +€42,503 | +26.5% |
| Deferred charges and accrued income | 490/1 | €4,709 | €4,748 | +€39 | +0.8% |
| Total equity and liabilities | 10/49 | €2,373,681 | €2,429,574 | +€55,893 | +2.4% |
| Equity | 10/15 | €2,042,918 | €2,163,797 | +€120,879 | +5.9% |
| Contributions | 10/11 | €684,021 | €684,021 | = | 0.0% |
| Capital | 10 | €684,021 | €684,021 | = | 0.0% |
| Issued capital | 100 | €684,021 | €684,021 | = | 0.0% |
| Reserves | 13 | €1,358,897 | €1,479,776 | +€120,879 | +8.9% |
| Non-distributable reserves | 130/1 | €73,719 | €73,719 | = | 0.0% |
| Legal reserve | 130 | €73,719 | €73,719 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,879 | €20,740 | -€9,138 | -30.6% |
| Distributable reserves | 133 | €1,255,299 | €1,385,317 | +€130,017 | +10.4% |
| Provisions and deferred taxes | 16 | €9,960 | €6,913 | -€3,046 | -30.6% |
| Deferred taxes | 168 | €9,960 | €6,913 | -€3,046 | -30.6% |
| Amounts payable | 17/49 | €320,803 | €258,863 | -€61,940 | -19.3% |
| Amounts payable after more than one year | 17 | €167,144 | €117,048 | -€50,096 | -30.0% |
| Financial debts | 170/4 | €167,144 | €117,048 | -€50,096 | -30.0% |
| Amounts payable within one year | 42/48 | €130,400 | €118,313 | -€12,088 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €49,416 | €50,096 | +€681 | +1.4% |
| Trade debts | 44 | €3,810 | €3,583 | -€226 | -5.9% |
| Suppliers | 440/4 | €3,810 | €3,583 | -€226 | -5.9% |
| Taxes, remuneration and social security | 45 | €15,898 | €1,907 | -€13,991 | -88.0% |
| Taxes | 450/3 | €15,898 | €1,907 | -€13,991 | -88.0% |
| Other amounts payable | 47/48 | €61,277 | €62,726 | +€1,449 | +2.4% |
| Accrued charges and deferred income | 492/3 | €23,258 | €23,502 | +€244 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,835 | €87,782 | +€7,947 | +10.0% |
| Other operating charges | 640/8 | €45,798 | €47,047 | +€1,250 | +2.7% |
| Gross operating margin | 9900 | €325,950 | €311,723 | -€14,227 | -4.4% |
| Operating profit (loss) | 9901 | €200,318 | €176,894 | -€23,424 | -11.7% |
| Financial income | 75/76B | €0 | €637 | +€637 | |
| Recurring financial income | 75 | €0 | €637 | +€637 | |
| Financial charges | 65/66B | €8,639 | €7,426 | -€1,212 | -14.0% |
| Recurring financial charges | 65 | €8,639 | €7,426 | -€1,212 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €191,679 | €170,104 | -€21,575 | -11.3% |
| Transfer from deferred taxes | 780 | €3,046 | €3,046 | -€0 | 0.0% |
| Income taxes | 67/77 | €59,321 | €52,272 | -€7,050 | -11.9% |
| Profit (loss) for the period | 9904 | €135,404 | €120,879 | -€14,525 | -10.7% |
| Transfer from tax-exempt reserves | 789 | €9,139 | €9,138 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €144,542 | €130,017 | -€14,525 | -10.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.