BE-SF: 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.
BE-SF
Largest movements
- Receivables within one year +€52,365
up €52,365 (+505.3%), from €10,364 to €62,729
of which Trade receivables: +€41,588
- Stocks and contracts +€36,655
up €36,655 (+88.7%), from €41,345 to €78,000
- Tangible fixed assets -€4,573
down €4,573 (-62.0%), from €7,376 to €2,804
of which Leasing and similar rights: -€3,678
- Profit (loss) carried forward +€81,717
up €81,717 (+94.6%), from -€86,355 to -€4,638
- Debts after one year -€15,036
no longer reported in 2025 (was €15,036)
- Accrued charges and deferred income +€10,111
up €10,111 (+57.8%), from €17,508 to €27,620
- Short-term financial debts +€5,924
up €5,924 (+12.4%), from €47,647 to €53,571
- Trade debts +€3,541
up €3,541 (+15.5%), from €22,837 to €26,378
- Gross operating margin +€106,069
up €106,069 (+43.7%), from €242,740 to €348,809
- Staff costs +€63,648
up €63,648 (+33.6%), from €189,200 to €252,848
- Other operating charges -€16,948
down €16,948 (-90.8%), from €18,665 to €1,717
- Financial charges -€4,075
down €4,075 (-32.0%), from €12,734 to €8,659
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,870 | €146,644 | +€85,775 | +140.9% |
| Fixed assets | 21/28 | €7,536 | €2,964 | -€4,573 | -60.7% |
| Tangible fixed assets | 22/27 | €7,376 | €2,804 | -€4,573 | -62.0% |
| Plant, machinery and equipment | 23 | €2,166 | €1,271 | -€895 | -41.3% |
| Leasing and similar rights | 25 | €5,211 | €1,533 | -€3,678 | -70.6% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €53,333 | €143,681 | +€90,347 | +169.4% |
| Stocks and contracts in progress | 3 | €41,345 | €78,000 | +€36,655 | +88.7% |
| Stocks | 30/36 | €41,345 | €78,000 | +€36,655 | +88.7% |
| Amounts receivable within one year | 40/41 | €10,364 | €62,729 | +€52,365 | +505.3% |
| Trade receivables | 40 | €3,100 | €44,688 | +€41,588 | +1341.6% |
| Other amounts receivable | 41 | €7,264 | €18,040 | +€10,776 | +148.4% |
| Deferred charges and accrued income | 490/1 | €1,625 | €2,952 | +€1,328 | +81.7% |
| Total equity and liabilities | 10/49 | €60,870 | €146,644 | +€85,775 | +140.9% |
| Equity | 10/15 | -€65,895 | €15,822 | +€81,717 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,355 | -€4,638 | +€81,717 | +94.6% |
| Amounts payable | 17/49 | €126,764 | €130,823 | +€4,058 | +3.2% |
| Amounts payable after more than one year | 17 | €15,036 | - | -€15,036 | |
| Financial debts | 170/4 | €15,036 | - | -€15,036 | |
| Amounts payable within one year | 42/48 | €94,220 | €103,203 | +€8,983 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €14,824 | €14,194 | -€630 | -4.3% |
| Financial debts | 43 | €47,647 | €53,571 | +€5,924 | +12.4% |
| Credit institutions | 430/8 | €47,647 | €53,571 | +€5,924 | +12.4% |
| Trade debts | 44 | €22,837 | €26,378 | +€3,541 | +15.5% |
| Suppliers | 440/4 | €22,837 | €26,378 | +€3,541 | +15.5% |
| Taxes, remuneration and social security | 45 | €8,911 | €9,060 | +€149 | +1.7% |
| Taxes | 450/3 | €907 | €3,708 | +€2,801 | +308.7% |
| Remuneration and social security | 454/9 | €8,004 | €5,351 | -€2,652 | -33.1% |
| Accrued charges and deferred income | 492/3 | €17,508 | €27,620 | +€10,111 | +57.8% |
| Remuneration, social security and pensions | 62 | €189,200 | €252,848 | +€63,648 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,308 | €5,772 | -€1,537 | -21.0% |
| Other operating charges | 640/8 | €18,665 | €1,717 | -€16,948 | -90.8% |
| Gross operating margin | 9900 | €242,740 | €348,809 | +€106,069 | +43.7% |
| Operating profit (loss) | 9901 | €27,567 | €88,472 | +€60,905 | +220.9% |
| Financial income | 75/76B | €147 | €2,326 | +€2,179 | +1483.8% |
| Recurring financial income | 75 | €147 | €2,326 | +€2,179 | +1483.8% |
| Financial charges | 65/66B | €12,734 | €8,659 | -€4,075 | -32.0% |
| Recurring financial charges | 65 | €12,734 | €8,659 | -€4,075 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €14,980 | €82,139 | +€67,159 | +448.3% |
| Income taxes | 67/77 | €435 | €423 | -€12 | -2.8% |
| Profit (loss) for the period | 9904 | €14,545 | €81,717 | +€67,172 | +461.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,545 | €81,717 | +€67,172 | +461.8% |
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 3 October 2026 via checked.be.