SBF Group: 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.
SBF Group
Largest movements
- Receivables within one year -€66,597
down €66,597 (-77.2%), from €86,264 to €19,667
of which Trade receivables: -€61,904
- Tangible fixed assets +€34,554
new in 2025: €34,554
of which Leasing and similar rights: +€27,389
- Deferred charges and accrued income -€1,112
down €1,112 (-38.8%), from €2,866 to €1,754
- Cash -€1,050
down €1,050 (-78.4%), from €1,339 to €289
mainly Investment in fixed assets (net) (-€41,422) and Net result for the year (-€40,139)
- Profit (loss) carried forward -€40,139
new in 2025: -€40,139
- Debts after one year +€22,864
new in 2025: €22,864
- Trade debts -€17,632
down €17,632 (-29.7%), from €59,276 to €41,645
- Current portion of long-term debt +€4,747
new in 2025: €4,747
- Tax, wage and social debts -€3,280
down €3,280 (-48.3%), from €6,794 to €3,514
of which Taxes: -€6,746
- Gross operating margin -€59,329
down €59,329 (-84.6%), from €70,107 to €10,778
- Depreciation +€6,967
new in 2025: €6,967
- Taxes -€6,746
down €6,746 (-100.0%), from €6,746 to €0
- Financial charges +€2,348
up €2,348 (+492.2%), from €477 to €2,825
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
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 | €91,856 | €57,552 | -€34,304 | -37.3% |
| Fixed assets | 21/28 | €1,387 | €35,842 | +€34,454 | +2483.7% |
| Tangible fixed assets | 22/27 | - | €34,554 | +€34,554 | |
| Furniture and vehicles | 24 | - | €7,165 | +€7,165 | |
| Leasing and similar rights | 25 | - | €27,389 | +€27,389 | |
| Financial fixed assets | 28 | €1,387 | €1,287 | -€100 | -7.2% |
| Current assets | 29/58 | €90,469 | €21,710 | -€68,759 | -76.0% |
| Amounts receivable within one year | 40/41 | €86,264 | €19,667 | -€66,597 | -77.2% |
| Trade receivables | 40 | €73,163 | €11,259 | -€61,904 | -84.6% |
| Other amounts receivable | 41 | €13,101 | €8,408 | -€4,693 | -35.8% |
| Cash at bank and in hand | 54/58 | €1,339 | €289 | -€1,050 | -78.4% |
| Deferred charges and accrued income | 490/1 | €2,866 | €1,754 | -€1,112 | -38.8% |
| Total equity and liabilities | 10/49 | €91,856 | €57,552 | -€34,304 | -37.3% |
| Equity | 10/15 | €23,232 | -€16,907 | -€40,139 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €21,732 | €21,732 | = | 0.0% |
| Distributable reserves | 133 | €21,732 | €21,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€40,139 | -€40,139 | |
| Amounts payable | 17/49 | €68,624 | €74,459 | +€5,835 | +8.5% |
| Amounts payable after more than one year | 17 | - | €22,864 | +€22,864 | |
| Financial debts | 170/4 | - | €22,864 | +€22,864 | |
| Amounts payable within one year | 42/48 | €68,624 | €51,595 | -€17,030 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,747 | +€4,747 | |
| Financial debts | 43 | €2,554 | €0 | -€2,554 | -100.0% |
| Credit institutions | 430/8 | €2,554 | €0 | -€2,554 | -100.0% |
| Trade debts | 44 | €59,276 | €41,645 | -€17,632 | -29.7% |
| Suppliers | 440/4 | €59,276 | €41,645 | -€17,632 | -29.7% |
| Taxes, remuneration and social security | 45 | €6,794 | €3,514 | -€3,280 | -48.3% |
| Taxes | 450/3 | €6,746 | €0 | -€6,746 | -100.0% |
| Remuneration and social security | 454/9 | €48 | €3,514 | +€3,466 | +7196.5% |
| Other amounts payable | 47/48 | - | €1,689 | +€1,689 | |
| Remuneration, social security and pensions | 62 | €39,171 | €39,124 | -€47 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,967 | +€6,967 | |
| Other operating charges | 640/8 | €2,165 | €2,003 | -€162 | -7.5% |
| Gross operating margin | 9900 | €70,107 | €10,778 | -€59,329 | -84.6% |
| Operating profit (loss) | 9901 | €28,771 | -€37,316 | -€66,087 | |
| Financial income | 75/76B | €183 | €2 | -€181 | -99.1% |
| Recurring financial income | 75 | €183 | €2 | -€181 | -99.1% |
| Financial charges | 65/66B | €477 | €2,825 | +€2,348 | +492.2% |
| Recurring financial charges | 65 | €477 | €2,825 | +€2,348 | +492.2% |
| Profit (loss) for the period before taxes | 9903 | €28,477 | -€40,139 | -€68,616 | |
| Income taxes | 67/77 | €6,746 | €0 | -€6,746 | -100.0% |
| Profit (loss) for the period | 9904 | €21,732 | -€40,139 | -€61,871 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,732 | -€40,139 | -€61,871 |
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 12 October 2026 via checked.be.