GROUPE SF: what changed
GROUPE SF
Largest movements
- Receivables within one year -€20,488
down €20,488 (-14.3%), from €143,385 to €122,897
of which Other amounts receivable: -€22,516
- Receivables after one year -€5,900
down €5,900 (-50.0%), from €11,800 to €5,900
- Tangible fixed assets -€3,353
down €3,353 (-17.1%), from €19,647 to €16,294
of which Other tangible fixed assets: -€2,382
- Trade debts -€68,935
down €68,935 (-45.2%), from €152,602 to €83,667
- Reserves +€14,533
up €14,533 (+781%), from €1,860 to €16,393
of which Distributable reserves: +€14,533
- Current portion of long-term debt +€14,181
new in 2025: €14,181
- Profit (loss) carried forward +€8,037
no longer reported in 2025 (was -€8,037)
- Short-term financial debts +€3,290
up €3,290 (+58.0%), from €5,672 to €8,962
- Gross operating margin +€16,287
up €16,287 (+62.0%), from €26,253 to €42,541
- Taxes +€4,776
up €4,776 (+77.4%), from €6,168 to €10,944
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
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,113 | €147,410 | -€29,703 | -16.8% |
| Fixed assets | 21/28 | €19,647 | €16,294 | -€3,353 | -17.1% |
| Tangible fixed assets | 22/27 | €19,647 | €16,294 | -€3,353 | -17.1% |
| Furniture and vehicles | 24 | €2,024 | €1,053 | -€971 | -48.0% |
| Other tangible fixed assets | 26 | €17,623 | €15,241 | -€2,382 | -13.5% |
| Current assets | 29/58 | €157,466 | €131,116 | -€26,350 | -16.7% |
| Amounts receivable after more than one year | 29 | €11,800 | €5,900 | -€5,900 | -50.0% |
| Other amounts receivable | 291 | €11,800 | €5,900 | -€5,900 | -50.0% |
| Amounts receivable within one year | 40/41 | €143,385 | €122,897 | -€20,488 | -14.3% |
| Trade receivables | 40 | €70,212 | €72,239 | +€2,027 | +2.9% |
| Other amounts receivable | 41 | €73,173 | €50,657 | -€22,516 | -30.8% |
| Deferred charges and accrued income | 490/1 | €2,281 | €2,319 | +€38 | +1.7% |
| Total equity and liabilities | 10/49 | €177,113 | €147,410 | -€29,703 | -16.8% |
| Equity | 10/15 | €12,423 | €34,993 | +€22,570 | +182% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €16,393 | +€14,533 | +781% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €14,533 | +€14,533 | |
| Profit (loss) carried forward | 14 | -€8,037 | - | +€8,037 | |
| Amounts payable | 17/49 | €164,690 | €112,417 | -€52,273 | -31.7% |
| Amounts payable within one year | 42/48 | €164,690 | €112,417 | -€52,273 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,181 | +€14,181 | |
| Financial debts | 43 | €5,672 | €8,962 | +€3,290 | +58.0% |
| Credit institutions | 430/8 | €5,672 | €8,962 | +€3,290 | +58.0% |
| Trade debts | 44 | €152,602 | €83,667 | -€68,935 | -45.2% |
| Suppliers | 440/4 | €152,602 | €83,667 | -€68,935 | -45.2% |
| Taxes, remuneration and social security | 45 | €6,416 | €5,607 | -€810 | -12.6% |
| Taxes | 450/3 | €6,351 | €5,368 | -€983 | -15.5% |
| Remuneration and social security | 454/9 | €65 | €239 | +€174 | +266% |
| Non-recurring operating income | 76A | - | €6,396 | +€6,396 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,454 | €3,652 | +€198 | +5.7% |
| Other operating charges | 640/8 | €1,983 | €1,970 | -€13 | -0.7% |
| Non-recurring operating charges | 66A | - | €2,860 | +€2,860 | |
| Gross operating margin | 9900 | €26,253 | €42,541 | +€16,287 | +62.0% |
| Operating profit (loss) | 9901 | €20,816 | €34,059 | +€13,243 | +63.6% |
| Financial income | 75/76B | €767 | €767 | = | 0.0% |
| Recurring financial income | 75 | €767 | €767 | = | 0.0% |
| Financial charges | 65/66B | €1,280 | €1,313 | +€33 | +2.6% |
| Recurring financial charges | 65 | €1,280 | €1,313 | +€33 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €20,304 | €33,514 | +€13,210 | +65.1% |
| Income taxes | 67/77 | €6,168 | €10,944 | +€4,776 | +77.4% |
| Profit (loss) for the period | 9904 | €14,136 | €22,570 | +€8,434 | +59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,136 | €22,570 | +€8,434 | +59.7% |
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 7 November 2026 via checked.be.