S.B.F.: 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.
S.B.F.
Largest movements
- Receivables within one year +€87,272
up €87,272 (+95.4%), from €91,474 to €178,745
of which Trade receivables: +€92,830
- Cash -€62,333
down €62,333 (-25.4%), from €245,430 to €183,097
mainly Receivables within one year (-€87,272) and Accrued charges and deferred income (-€2,400)
- Reserves +€30,302
up €30,302 (+29.5%), from €102,762 to €133,063
of which Distributable reserves: +€30,302
- Gross operating margin +€174,936
up €174,936 (+235%), from €74,374 to €249,311
- Other operating charges +€153,292
up €153,292 (+253%), from €60,683 to €213,975
- Write-downs +€33,920
up €33,920, from -€33,920 to €0
- Financial charges +€3,284
up €3,284 (+164%), from €2,002 to €5,285
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €339,571 | €364,662 | +€25,092 | +7.4% |
| Fixed assets | 21/28 | €2,569 | €2,569 | = | 0.0% |
| Financial fixed assets | 28 | €2,569 | €2,569 | = | 0.0% |
| Current assets | 29/58 | €337,002 | €362,093 | +€25,092 | +7.4% |
| Amounts receivable within one year | 40/41 | €91,474 | €178,745 | +€87,272 | +95.4% |
| Trade receivables | 40 | €78,894 | €171,724 | +€92,830 | +118% |
| Other amounts receivable | 41 | €12,580 | €7,021 | -€5,559 | -44.2% |
| Cash at bank and in hand | 54/58 | €245,430 | €183,097 | -€62,333 | -25.4% |
| Deferred charges and accrued income | 490/1 | €98 | €251 | +€153 | +157% |
| Total equity and liabilities | 10/49 | €339,571 | €364,662 | +€25,092 | +7.4% |
| Equity | 10/15 | €332,066 | €362,368 | +€30,302 | +9.1% |
| Contributions | 10/11 | €229,304 | €229,304 | = | 0.0% |
| Reserves | 13 | €102,762 | €133,063 | +€30,302 | +29.5% |
| Non-distributable reserves | 130/1 | €14,743 | €14,743 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,743 | €14,743 | = | 0.0% |
| Distributable reserves | 133 | €88,018 | €118,320 | +€30,302 | +34.4% |
| Amounts payable | 17/49 | €7,505 | €2,295 | -€5,210 | -69.4% |
| Amounts payable within one year | 42/48 | €5,105 | €2,295 | -€2,810 | -55.1% |
| Financial debts | 43 | €1,124 | €15 | -€1,109 | -98.7% |
| Credit institutions | 430/8 | €1,124 | €0 | -€1,124 | -100% |
| Other loans | 439 | - | €15 | +€15 | |
| Trade debts | 44 | €2,146 | €445 | -€1,701 | -79.3% |
| Suppliers | 440/4 | €2,146 | €445 | -€1,701 | -79.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,835 | €1,835 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,400 | €0 | -€2,400 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€33,920 | €0 | +€33,920 | |
| Other operating charges | 640/8 | €60,683 | €213,975 | +€153,292 | +253% |
| Gross operating margin | 9900 | €74,374 | €249,311 | +€174,936 | +235% |
| Operating profit (loss) | 9901 | €47,612 | €35,336 | -€12,276 | -25.8% |
| Financial income | 75/76B | €102 | €251 | +€149 | +146% |
| Recurring financial income | 75 | €102 | €251 | +€149 | +146% |
| Financial charges | 65/66B | €2,002 | €5,285 | +€3,284 | +164% |
| Recurring financial charges | 65 | €2,002 | €5,285 | +€3,284 | +164% |
| Profit (loss) for the period before taxes | 9903 | €45,712 | €30,302 | -€15,410 | -33.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €45,712 | €30,302 | -€15,410 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,712 | €30,302 | -€15,410 | -33.7% |
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 30 October 2026 via checked.be.