SCARFO: what changed
Two fiscal 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.
SCARFO
Largest movements
- Tangible fixed assets +€253,293
up €253,293 (+37.2%), from €680,835 to €934,128
of which Land and buildings: +€229,113
- Receivables within one year +€147,782
up €147,782 (+34.1%), from €433,663 to €581,445
of which Other amounts receivable: +€113,655
- Cash -€131,173
down €131,173 (-41.6%), from €315,131 to €183,957
mainly Investment in fixed assets (net) (-€314,448) and Receivables within one year (-€147,782)
- Deferred charges and accrued income +€63,179
up €63,179 (+685.9%), from €9,211 to €72,390
- Reserves +€183,660
up €183,660 (+25.4%), from €723,178 to €906,837
- Short-term financial debts +€145,727
up €145,727 (+24.1%), from €604,620 to €750,347
- Gross operating margin +€227,719
up €227,719 (+177.9%), from €127,997 to €355,716
- Taxes +€67,655
up €67,655 (+461.0%), from €14,674 to €82,330
- Financial charges +€24,650
up €24,650 (+172.3%), from €14,306 to €38,956
- Depreciation -€10,572
down €10,572 (-14.7%), from €71,727 to €61,155
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,438,841 | €1,771,921 | +€333,080 | +23.1% |
| Fixed assets | 21/28 | €680,835 | €934,128 | +€253,293 | +37.2% |
| Tangible fixed assets | 22/27 | €680,835 | €934,128 | +€253,293 | +37.2% |
| Land and buildings | 22 | €666,006 | €895,119 | +€229,113 | +34.4% |
| Furniture and vehicles | 24 | €14,329 | €38,509 | +€24,180 | +168.7% |
| Other tangible fixed assets | 26 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €758,005 | €837,792 | +€79,787 | +10.5% |
| Amounts receivable within one year | 40/41 | €433,663 | €581,445 | +€147,782 | +34.1% |
| Trade receivables | 40 | €45,932 | €80,059 | +€34,126 | +74.3% |
| Other amounts receivable | 41 | €387,731 | €501,386 | +€113,655 | +29.3% |
| Cash at bank and in hand | 54/58 | €315,131 | €183,957 | -€131,173 | -41.6% |
| Deferred charges and accrued income | 490/1 | €9,211 | €72,390 | +€63,179 | +685.9% |
| Total equity and liabilities | 10/49 | €1,438,841 | €1,771,921 | +€333,080 | +23.1% |
| Equity | 10/15 | €735,578 | €919,237 | +€183,660 | +25.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €723,178 | €906,837 | +€183,660 | +25.4% |
| Distributable reserves | 133 | €723,178 | €906,837 | +€183,660 | +25.4% |
| Amounts payable | 17/49 | €703,263 | €852,683 | +€149,421 | +21.2% |
| Amounts payable within one year | 42/48 | €703,263 | €849,572 | +€146,309 | +20.8% |
| Financial debts | 43 | €604,620 | €750,347 | +€145,727 | +24.1% |
| Credit institutions | 430/8 | €604,620 | €750,347 | +€145,727 | +24.1% |
| Trade debts | 44 | €66,140 | €61,814 | -€4,326 | -6.5% |
| Suppliers | 440/4 | €66,140 | €61,814 | -€4,326 | -6.5% |
| Taxes, remuneration and social security | 45 | €30,903 | €34,386 | +€3,483 | +11.3% |
| Taxes | 450/3 | €18,788 | €19,211 | +€423 | +2.2% |
| Remuneration and social security | 454/9 | €12,114 | €15,175 | +€3,060 | +25.3% |
| Other amounts payable | 47/48 | €1,600 | €3,025 | +€1,425 | +89.1% |
| Accrued charges and deferred income | 492/3 | - | €3,111 | +€3,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,727 | €61,155 | -€10,572 | -14.7% |
| Other operating charges | 640/8 | €2,302 | €485 | -€1,817 | -78.9% |
| Gross operating margin | 9900 | €127,997 | €355,716 | +€227,719 | +177.9% |
| Operating profit (loss) | 9901 | €53,968 | €294,077 | +€240,109 | +444.9% |
| Financial income | 75/76B | €9,480 | €10,868 | +€1,389 | +14.6% |
| Recurring financial income | 75 | €9,480 | €10,868 | +€1,389 | +14.6% |
| Financial charges | 65/66B | €14,306 | €38,956 | +€24,650 | +172.3% |
| Recurring financial charges | 65 | €14,306 | €38,956 | +€24,650 | +172.3% |
| Profit (loss) for the period before taxes | 9903 | €49,142 | €265,989 | +€216,847 | +441.3% |
| Income taxes | 67/77 | €14,674 | €82,330 | +€67,655 | +461.0% |
| Profit (loss) for the period | 9904 | €34,467 | €183,660 | +€149,192 | +432.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,467 | €183,660 | +€149,192 | +432.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.