S&F Immo: 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&F Immo
Largest movements
- Tangible fixed assets +€18,504
up €18,504 (+468%), from €3,958 to €22,462
- Other debts +€37,711
up €37,711 (+5.3%), from €715,277 to €752,987
- Debts after one year -€27,213
down €27,213 (-17.5%), from €155,463 to €128,250
- Accrued charges and deferred income +€18,489
up €18,489 (+16,879%), from €110 to €18,598
- Profit (loss) carried forward -€9,489
down €9,489 (-18.1%), from -€52,363 to -€61,853
- Financial charges -€24,886
down €24,886 (-84.0%), from €29,620 to €4,734
- Gross operating margin +€1,618
up €1,618 (+37.8%), from -€4,281 to -€2,663
- Depreciation +€1,496
new in 2025: €1,496
- Other operating charges +€94
up €94 (+18.7%), from €502 to €596
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 | €854,504 | €873,106 | +€18,602 | +2.2% |
| Fixed assets | 21/28 | €853,958 | €872,462 | +€18,504 | +2.2% |
| Tangible fixed assets | 22/27 | €3,958 | €22,462 | +€18,504 | +468% |
| Land and buildings | 22 | €3,958 | €22,462 | +€18,504 | +468% |
| Financial fixed assets | 28 | €850,000 | €850,000 | = | 0.0% |
| Current assets | 29/58 | €546 | €644 | +€98 | +17.9% |
| Amounts receivable within one year | 40/41 | €546 | €410 | -€137 | -25.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €546 | €410 | -€137 | -25.1% |
| Cash at bank and in hand | 54/58 | €0 | €235 | +€235 | |
| Total equity and liabilities | 10/49 | €854,504 | €873,106 | +€18,602 | +2.2% |
| Equity | 10/15 | -€48,363 | -€57,853 | -€9,489 | -19.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,363 | -€61,853 | -€9,489 | -18.1% |
| Amounts payable | 17/49 | €902,867 | €930,958 | +€28,091 | +3.1% |
| Amounts payable after more than one year | 17 | €155,463 | €128,250 | -€27,213 | -17.5% |
| Financial debts | 170/4 | €155,463 | €128,250 | -€27,213 | -17.5% |
| Amounts payable within one year | 42/48 | €747,295 | €784,110 | +€36,815 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €28,083 | €28,282 | +€199 | +0.7% |
| Financial debts | 43 | €2,631 | €0 | -€2,631 | -100% |
| Credit institutions | 430/8 | €2,631 | €0 | -€2,631 | -100% |
| Trade debts | 44 | €1,304 | €2,840 | +€1,537 | +118% |
| Suppliers | 440/4 | €1,304 | €2,840 | +€1,537 | +118% |
| Other amounts payable | 47/48 | €715,277 | €752,987 | +€37,711 | +5.3% |
| Accrued charges and deferred income | 492/3 | €110 | €18,598 | +€18,489 | +16,879% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,496 | +€1,496 | |
| Other operating charges | 640/8 | €502 | €596 | +€94 | +18.7% |
| Gross operating margin | 9900 | -€4,281 | -€2,663 | +€1,618 | +37.8% |
| Operating profit (loss) | 9901 | -€4,783 | -€4,755 | +€28 | +0.6% |
| Financial charges | 65/66B | €29,620 | €4,734 | -€24,886 | -84.0% |
| Recurring financial charges | 65 | €29,620 | €4,734 | -€24,886 | -84.0% |
| Profit (loss) for the period before taxes | 9903 | -€34,403 | -€9,489 | +€24,914 | +72.4% |
| Profit (loss) for the period | 9904 | -€34,403 | -€9,489 | +€24,914 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,403 | -€9,489 | +€24,914 | +72.4% |
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 24 October 2026 via checked.be.