SF operations
Annual accounts 2025
micro format, filed on 24-07-2026, 7 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €90,000. Estimated: probably between €74,000 and €120,000.
Balance sheet
balance sheet total €89,534 on 31-12-2025in euro
in euro
Position in the sector
70.5%
Higher than 62% of 21,205 companies in 2025.
3.94
Higher than 68% of 20,568 companies in 2025.
14.7%
Higher than 44% of 20,743 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
89,534 | 74,186 | 74,754 | 51,741 | 53,413 | 85,904 | 90,465 | 94,530 | 102,979 | 134,792 | 129,629 | 115,559 | 121,901 | 130,240 | 138,469 | 125,089 | 12,400 | |
20 |
- | - | - | - | - | - | - | - | - | - | 0 | 160 | 320 | 480 | - | - | - | |
21/28 |
10,972 | 15,309 | 19,713 | 3,946 | 4,135 | 66,837 | 68,680 | 71,521 | 75,514 | 84,932 | 89,036 | 90,709 | 96,595 | 102,325 | 102,477 | 100,441 | - | |
22/27 |
10,972 | 15,309 | 19,713 | 3,946 | 4,135 | 66,837 | 68,680 | 71,521 | 75,514 | 84,932 | 89,036 | 90,549 | 96,275 | 101,845 | 102,477 | 100,441 | - | |
22 |
- | - | - | - | - | - | - | - | - | 79,730 | 86,956 | 87,780 | 91,805 | 95,351 | 102,477 | 100,441 | - | |
23 |
109 | 378 | 1,308 | 2,359 | 3,409 | 2,293 | - | - | - | 5,201 | 2,080 | 2,769 | 4,471 | 6,493 | - | - | - | |
24 |
10,864 | 14,931 | 18,405 | 1,588 | 726 | 432 | 863 | - | - | - | - | - | - | - | - | - | - | |
26 |
- | - | - | - | - | 64,113 | 67,817 | 71,521 | 75,514 | - | - | - | - | - | - | - | - | |
29/58 |
78,562 | 58,877 | 55,041 | 47,794 | 49,278 | 19,066 | 21,785 | 23,010 | 27,465 | 49,860 | 40,593 | 24,850 | 25,306 | 27,916 | 35,993 | 24,648 | 12,400 | |
3 |
6,600 | 0 | 0 | 8,700 | 8,700 | 8,700 | 13,700 | 17,700 | 20,450 | 21,165 | 21,165 | 21,165 | 21,165 | 19,615 | 21,908 | 20,125 | - | |
30/36 |
0 | 0 | 0 | 8,700 | 8,700 | 8,700 | 13,700 | 17,700 | 20,450 | 21,165 | 21,165 | 21,165 | 21,165 | 19,615 | 21,908 | 20,125 | - | |
37 |
6,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
19,817 | 43,652 | 19,523 | 26,339 | 16,831 | 7,563 | 5,748 | 5,133 | 7,015 | 19,306 | 14,955 | 598 | 3,682 | 6,566 | 8,907 | 4,523 | - | |
40 |
10,221 | 34,105 | 14,218 | 24,076 | 14,567 | 7,563 | 5,748 | 5,133 | 7,015 | 19,304 | 14,954 | 598 | 3,682 | 6,566 | 8,907 | 4,522 | - | |
41 |
9,596 | 9,548 | 5,305 | 2,264 | 2,264 | - | - | - | - | 2 | 2 | - | - | - | - | 0 | - | |
54/58 |
52,044 | 15,094 | 34,997 | 12,512 | 23,320 | 2,317 | 2,017 | 65 | - | 1,475 | - | - | 8 | 1,285 | 5,177 | - | 12,400 | |
490/1 |
100 | 131 | 521 | 243 | 428 | 487 | 321 | 112 | - | 7,914 | 4,472 | 3,087 | 450 | 450 | 0 | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
89,534 | 74,186 | 74,754 | 51,741 | 53,413 | 85,904 | 90,465 | 94,530 | 102,979 | 134,792 | 129,629 | 115,559 | 121,901 | 130,240 | 138,469 | 125,089 | 12,400 | |
10/15 |
63,096 | 49,957 | 46,411 | 37,956 | 35,503 | 21,173 | 20,807 | 17,425 | 19,095 | 20,346 | 13,847 | 13,142 | 14,391 | 8,275 | 10,549 | 7,667 | 12,400 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,630 | 18,630 | 18,630 | 18,630 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,630 | 18,630 | 18,630 | 18,630 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
25,140 | 12,001 | 8,455 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
25,140 | 12,001 | 8,455 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
19,356 | 19,356 | 19,356 | 19,356 | 16,903 | 2,573 | 2,207 | -1,175 | 495 | 1,716 | -4,783 | -5,488 | -4,239 | -4,125 | -1,851 | -4,733 | - | |
17/49 |
26,438 | 24,229 | 28,343 | 13,784 | 17,910 | 64,731 | 69,658 | 77,105 | 83,884 | 114,446 | 115,782 | 102,417 | 107,510 | 121,965 | 127,920 | 117,422 | - | |
17 |
6,502 | 9,664 | 12,679 | 706 | 1,769 | 53,000 | 57,457 | 62,720 | 67,683 | 39,598 | 46,798 | 54,598 | 65,500 | 74,598 | 91,495 | 95,103 | - | |
170/4 |
6,502 | 9,664 | 12,679 | 706 | 1,769 | 53,000 | 57,457 | 62,720 | 67,683 | 39,598 | 46,798 | 54,598 | 65,500 | 74,598 | 91,495 | 95,103 | - | |
42/48 |
19,936 | 14,564 | 15,664 | 13,078 | 16,141 | 11,641 | 12,201 | 14,385 | 16,201 | 74,849 | 68,985 | 47,820 | 42,010 | 47,368 | 36,425 | 20,934 | - | |
42 |
3,162 | 3,014 | 3,580 | 1,063 | 1,719 | 6,456 | 5,263 | 4,964 | 5,060 | 5,301 | 7,635 | 7,903 | 5,802 | 5,505 | 3,607 | 3,124 | - | |
43 |
- | - | - | - | - | - | - | - | 1,112 | 13,690 | 1,507 | 1,231 | 290 | 2,290 | - | 2,290 | - | |
430/8 |
- | - | - | - | - | - | - | - | 1,112 | 13,690 | 1,507 | 1,231 | 290 | 2,290 | - | 2,290 | - | |
44 |
2,343 | 1,013 | 1,765 | 1,698 | 3,318 | 625 | 2,202 | 603 | 4,444 | 2,384 | 3,729 | 4,530 | 6,501 | 17,132 | 27,676 | 13,325 | - | |
440/4 |
2,343 | 1,013 | 1,765 | 1,698 | 3,318 | 625 | 2,202 | 603 | 4,444 | 2,384 | 3,729 | 4,530 | 6,501 | 17,132 | 27,676 | 13,325 | - | |
45 |
14,430 | 10,536 | 10,319 | 10,317 | 11,105 | 4,251 | 3,418 | 1,982 | 1,707 | 3,309 | 3,130 | 972 | 2,134 | 3,517 | 1,697 | 1,049 | - | |
450/3 |
11,408 | 8,133 | 8,319 | 8,733 | 11,096 | 4,242 | 3,418 | 1,982 | 1,707 | 3,309 | 3,130 | 972 | 2,134 | 3,517 | 1,697 | 1,049 | - | |
454/9 |
3,022 | 2,403 | 2,000 | 1,584 | 9 | 9 | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
- | - | - | - | - | 310 | 1,318 | 6,837 | 3,878 | 50,165 | 52,984 | 33,184 | 27,284 | 18,923 | 3,445 | 1,147 | - | |
492/3 |
- | - | - | - | - | 90 | - | - | - | - | - | - | - | - | - | 1,385 | - | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | 74,645 | - | - | - | - | - | - | - | - | - | - | - | - | |
9900 |
27,115 | 13,738 | 26,476 | 8,669 | 37,533 | 15,523 | 20,257 | 13,114 | 14,930 | 12,369 | 3,827 | 5,860 | 6,734 | 9,303 | 10,175 | 4,784 | - | |
630 |
4,337 | 5,148 | 2,173 | 1,345 | 1,217 | 4,550 | 4,135 | 3,993 | 9,418 | 4,105 | 5,886 | 5,886 | 5,886 | 5,855 | 6,071 | 3,993 | - | |
631/4 |
- | - | 8,700 | - | - | 5,000 | 4,000 | 2,500 | - | - | -4,214 | - | - | - | - | - | - | |
640/8 |
351 | 116 | 1,444 | 1,669 | 2,140 | 965 | 3,526 | 1,711 | 2,439 | 1,499 | 1,166 | 1,026 | 287 | 972 | 1,056 | 822 | - | |
66A |
- | 908 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9901 |
22,427 | 7,567 | 14,160 | 5,655 | 34,176 | 5,008 | 8,595 | 4,910 | 3,073 | 6,765 | 988 | -1,052 | 561 | 2,476 | 3,047 | -31 | - | |
75/76B |
- | 0 | - | 110 | 1 | 0 | - | - | - | 0 | - | - | - | - | 1 | 12 | - | |
75 |
- | 0 | - | 110 | 1 | 0 | - | - | - | 0 | - | - | - | - | 1 | 12 | - | |
65/66B |
2,341 | 1,804 | 1,664 | 2,422 | 17,662 | 4,597 | 4,150 | 4,852 | 4,245 | 256 | 213 | 179 | 311 | 1,867 | 165 | 5,740 | - | |
65 |
2,341 | 1,804 | 1,664 | 2,422 | 17,662 | 4,597 | 4,150 | 4,852 | 4,245 | 256 | 213 | 179 | 311 | 1,867 | 165 | 5,740 | - | |
9903 |
20,087 | 5,763 | 12,496 | 3,343 | 16,515 | 411 | 4,445 | 58 | -1,172 | 6,509 | 775 | -1,231 | 251 | 608 | 2,883 | -5,759 | - | |
67/77 |
6,948 | 2,217 | 4,041 | 889 | 2,185 | 46 | 1,063 | 1,728 | 49 | 10 | 69 | 19 | 365 | - | - | 2 | - | |
9904 |
13,139 | 3,546 | 8,455 | 2,454 | 14,330 | 366 | 3,382 | -1,669 | -1,221 | 6,499 | 705 | -1,249 | -114 | 608 | 2,883 | -5,761 | - | |
9905 |
13,139 | 3,546 | 8,455 | 2,454 | 14,330 | 366 | 3,382 | -1,669 | -1,221 | 6,499 | 705 | -1,249 | -114 | 608 | 2,883 | -5,761 | - | |
| Appropriation of the result | ||||||||||||||||||
9906 |
32,496 | 22,902 | 27,811 | 19,356 | 16,903 | 2,573 | 2,207 | -1,175 | 495 | 1,716 | -4,783 | -5,488 | -4,239 | -4,125 | -1,851 | -10,494 | - | |
14P |
19,356 | 19,356 | 19,356 | 16,903 | 2,573 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
13,139 | 3,546 | 8,455 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
13,139 | 3,546 | 8,455 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00332789 | |
| 31-12-2024 | micro format | 18-06-2025 | 2025-00154138 | |
| 31-12-2023 | micro format | 18-06-2024 | 2024-00137574 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00183777 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20110150 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-32100194 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-24500006 | |
| 31-12-2018 | micro format | 26-09-2019 | 2019-66200499 | |
| 31-12-2017 | micro format | 24-04-2019 | 2019-10400522 | |
| 31-12-2016 | abbreviated format | 30-09-2017 | 2017-66500530 | |
| 31-12-2015 | abbreviated format | 31-12-2016 | 2016-72300321 | |
| 31-12-2014 | abbreviated format | 31-12-2015 | 2015-71200232 | |
| 31-12-2013 | abbreviated format | 31-12-2014 | 2014-71100018 | |
| 31-12-2012 | abbreviated format | 27-12-2013 | 2013-70200087 | |
| 31-12-2011 | abbreviated format | 31-08-2012 | 2012-55400063 | |
| 31-12-2010 | abbreviated format | 22-12-2011 | 2011-64500412 | |
| 31-12-2009 | abbreviated format | 31-08-2010 | 2010-53600341 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 26,764 | 12,714 | 16,333 | 7,000 | 35,393 | 9,558 | 12,730 | 8,904 | 12,490 | 10,870 | 6,874 | 4,834 | 6,447 | 8,330 | 9,118 | 3,962 | - | ||
| 17,476 | 8,693 | 10,628 | 3,799 | 15,547 | 4,916 | 7,517 | 2,324 | 8,197 | 10,603 | 6,592 | 4,637 | 5,772 | 6,463 | 8,954 | -1,768 | - | ||
| 0 | 743 | 17,940 | 1,156 | 2,628 | 2,707 | 1,295 | 0 | 0 | 0 | 4,214 | 0 | 317 | 400 | 8,107 | 104,434 | - | ||
| 36,950 | -19,903 | 22,485 | -10,808 | 21,003 | 301 | 1,952 | - | - | - | - | - | -1,277 | -3,892 | - | - | - | ||
| 58,626 | 44,313 | 39,376 | 34,716 | 33,137 | 7,425 | 9,584 | 8,624 | 11,264 | -24,988 | -28,392 | -22,970 | -16,704 | -19,452 | -432 | 3,713 | - | ||
| 70.5% | 67.3% | 62.1% | 73.4% | 66.5% | 24.6% | 23.0% | 18.4% | 18.5% | 15.1% | 10.7% | 11.4% | 11.8% | 6.4% | 7.6% | 6.1% | 100.0% | ||
| 3.94 | 4.04 | 3.51 | 3.65 | 3.05 | 1.64 | 1.79 | 1.60 | 1.70 | 0.67 | 0.59 | 0.52 | 0.60 | 0.59 | 0.99 | 1.18 | - | ||
| 3.61 | 4.04 | 3.51 | 2.99 | 2.51 | 0.89 | 0.66 | 0.37 | 0.43 | 0.38 | 0.28 | 0.08 | 0.10 | 0.18 | 0.39 | 0.22 | - | ||
| 0.42 | 0.48 | 0.61 | 0.36 | 0.50 | 3.06 | 3.35 | 4.42 | 4.39 | 5.63 | 8.36 | 7.79 | 7.47 | 14.74 | 12.13 | 15.32 | - | ||
| 20.8% | 7.1% | 18.2% | 6.5% | 40.4% | 1.7% | 16.3% | -9.6% | -6.4% | 31.9% | 5.1% | -9.5% | -0.8% | 7.4% | 27.3% | -75.1% | - | ||
| 14.7% | 4.8% | 11.3% | 4.7% | 26.8% | 0.4% | 3.7% | -1.8% | -1.2% | 4.8% | 0.5% | -1.1% | -0.1% | 0.5% | 2.1% | -4.6% | - | ||
| 11.44 | 7.05 | 9.81 | 2.89 | 2.00 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €743 | €17,940 | €1,156 | €2,628 |
| €4,337 | €5,148 | €2,173 | €1,345 | €1,217 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on SF operations
The operating result for 2025 is 196% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 32.7% to 29.5%. Equity and debt are higher.