S.F. SERVICES: 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. SERVICES
Largest movements
- Cash +€118,234
up €118,234 (+405%), from €29,203 to €147,437
mainly Net result for the year (+€150,631) and Investment in fixed assets (net) (+€51,432)
- Financial fixed assets -€51,432
down €51,432 (-7.5%), from €683,495 to €632,063
- Receivables within one year -€16,601
no longer reported in 2025 (was €16,601)
of which Trade receivables: -€10,252
- Reserves +€150,631
up €150,631 (+42.6%), from €353,732 to €504,362
of which Distributable reserves: +€152,491
- Other debts -€103,188
down €103,188 (-39.2%), from €262,919 to €159,731
- Tax, wage and social debts +€17,717
up €17,717 (+228%), from €7,786 to €25,502
- Debts after one year -€16,697
down €16,697 (-23.7%), from €70,521 to €53,825
- Financial income +€146,425
up €146,425 (+1,211%), from €12,092 to €158,516
of which Financial income: +€101,857
- Gross operating margin -€22,827
down €22,827 (-49.0%), from €46,596 to €23,769
- Taxes +€11,696
up €11,696 (+76.5%), from €15,286 to €26,982
- Financial charges -€865
down €865 (-22.8%), from €3,789 to €2,925
- Depreciation -€734
down €734 (-36.7%), from €2,000 to €1,266
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 | €730,565 | €780,605 | +€50,040 | +6.8% |
| Fixed assets | 21/28 | €684,761 | €632,063 | -€52,698 | -7.7% |
| Tangible fixed assets | 22/27 | €1,266 | - | -€1,266 | |
| Furniture and vehicles | 24 | €1,266 | - | -€1,266 | |
| Financial fixed assets | 28 | €683,495 | €632,063 | -€51,432 | -7.5% |
| Current assets | 29/58 | €45,804 | €148,542 | +€102,738 | +224% |
| Amounts receivable within one year | 40/41 | €16,601 | - | -€16,601 | |
| Trade receivables | 40 | €10,252 | - | -€10,252 | |
| Other amounts receivable | 41 | €6,349 | - | -€6,349 | |
| Cash at bank and in hand | 54/58 | €29,203 | €147,437 | +€118,234 | +405% |
| Deferred charges and accrued income | 490/1 | - | €1,105 | +€1,105 | |
| Total equity and liabilities | 10/49 | €730,565 | €780,605 | +€50,040 | +6.8% |
| Equity | 10/15 | €372,332 | €522,962 | +€150,631 | +40.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €353,732 | €504,362 | +€150,631 | +42.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €351,872 | €504,362 | +€152,491 | +43.3% |
| Amounts payable | 17/49 | €358,234 | €257,643 | -€100,591 | -28.1% |
| Amounts payable after more than one year | 17 | €70,521 | €53,825 | -€16,697 | -23.7% |
| Financial debts | 170/4 | €70,521 | €53,825 | -€16,697 | -23.7% |
| Amounts payable within one year | 42/48 | €287,712 | €203,818 | -€83,894 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €16,110 | €16,697 | +€586 | +3.6% |
| Trade debts | 44 | €897 | €1,889 | +€991 | +110% |
| Suppliers | 440/4 | €897 | €1,889 | +€991 | +110% |
| Taxes, remuneration and social security | 45 | €7,786 | €25,502 | +€17,717 | +228% |
| Taxes | 450/3 | €7,786 | €25,502 | +€17,717 | +228% |
| Other amounts payable | 47/48 | €262,919 | €159,731 | -€103,188 | -39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,000 | €1,266 | -€734 | -36.7% |
| Other operating charges | 640/8 | €459 | €483 | +€24 | +5.2% |
| Gross operating margin | 9900 | €46,596 | €23,769 | -€22,827 | -49.0% |
| Operating profit (loss) | 9901 | €44,137 | €22,021 | -€22,117 | -50.1% |
| Financial income | 75/76B | €12,092 | €158,516 | +€146,425 | +1,211% |
| Recurring financial income | 75 | €12,092 | €113,948 | +€101,857 | +842% |
| Non-recurring financial income | 76B | - | €44,568 | +€44,568 | |
| Financial charges | 65/66B | €3,789 | €2,925 | -€865 | -22.8% |
| Recurring financial charges | 65 | €3,789 | €2,925 | -€865 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €52,439 | €177,612 | +€125,173 | +239% |
| Income taxes | 67/77 | €15,286 | €26,982 | +€11,696 | +76.5% |
| Profit (loss) for the period | 9904 | €37,154 | €150,631 | +€113,477 | +305% |
| Profit (loss) for the period to be appropriated | 9905 | €37,154 | €150,631 | +€113,477 | +305% |
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 25 October 2026 via checked.be.