SEFOCAM: 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.
SEFOCAM
Largest movements
- Cash -€270,343
down €270,343 (-52.2%), from €517,843 to €247,500
mainly Debts within one year (-€211,229) and Receivables within one year (-€128,082)
- Receivables within one year +€128,082
up €128,082 (+53.7%), from €238,333 to €366,416
- Debts within one year -€211,229
down €211,229 (-61.8%), from €341,819 to €130,590
- Purchases and services -€75,697
down €75,697 (-17.9%), from €423,442 to €347,745
- Gross operating margin +€60,637
up €60,637 (+11.6%), from €523,348 to €583,985
- Staff costs +€39,485
up €39,485 (+7.9%), from €499,048 to €538,533
- Turnover -€16,116
down €16,116 (-1.7%), from €944,096 to €927,980
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 | €3,057,111 | €2,891,929 | -€165,182 | -5.4% |
| Fixed assets | 21/28 | €69,875 | €54,129 | -€15,747 | -22.5% |
| Intangible fixed assets | 21 | €13,677 | €7,903 | -€5,774 | -42.2% |
| Tangible fixed assets | 22/27 | €51,290 | €41,300 | -€9,990 | -19.5% |
| Plant, machinery and equipment | 23 | €8,156 | €8,456 | +€299 | +3.7% |
| Furniture and vehicles | 24 | €31,337 | €21,048 | -€10,289 | -32.8% |
| Other tangible fixed assets | 26 | €11,797 | €11,797 | = | 0.0% |
| Financial fixed assets | 28 | €4,908 | €4,925 | +€17 | +0.4% |
| Current assets | 29/58 | €2,987,235 | €2,837,800 | -€149,435 | -5.0% |
| Amounts receivable within one year | 40/41 | €238,333 | €366,416 | +€128,082 | +53.7% |
| Trade receivables | 40 | €238,333 | €366,416 | +€128,082 | +53.7% |
| Current investments | 50/53 | €2,200,000 | €2,200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €517,843 | €247,500 | -€270,343 | -52.2% |
| Deferred charges and accrued income | 490/1 | €31,059 | €23,885 | -€7,175 | -23.1% |
| Total equity and liabilities | 10/49 | €3,057,111 | €2,891,929 | -€165,182 | -5.4% |
| Equity | 10/15 | €2,708,292 | €2,747,192 | +€38,900 | +1.4% |
| Reserves | 13 | €757,066 | €782,018 | +€24,952 | +3.3% |
| Profit (loss) carried forward | 14 | €1,951,226 | €1,965,174 | +€13,948 | +0.7% |
| Provisions and deferred taxes | 16 | €7,000 | €14,000 | +€7,000 | +100.0% |
| Provisions for liabilities and charges | 160/5 | €7,000 | €14,000 | +€7,000 | +100.0% |
| Other liabilities and charges | 164/5 | €7,000 | €14,000 | +€7,000 | +100.0% |
| Amounts payable | 17/49 | €341,819 | €130,737 | -€211,082 | -61.8% |
| Amounts payable within one year | 42/48 | €341,819 | €130,590 | -€211,229 | -61.8% |
| Trade debts | 44 | €37,564 | €40,003 | +€2,440 | +6.5% |
| Suppliers | 440/4 | €37,564 | €40,003 | +€2,440 | +6.5% |
| Taxes, remuneration and social security | 45 | €95,421 | €90,587 | -€4,834 | -5.1% |
| Taxes | 450/3 | €43,391 | €35,246 | -€8,145 | -18.8% |
| Remuneration and social security | 454/9 | €52,030 | €55,341 | +€3,311 | +6.4% |
| Accrued charges and deferred income | 492/3 | - | €147 | +€147 | |
| Turnover | 70 | €944,096 | €927,980 | -€16,116 | -1.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €423,442 | €347,745 | -€75,697 | -17.9% |
| Remuneration, social security and pensions | 62 | €499,048 | €538,533 | +€39,485 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,922 | €23,721 | -€2,200 | -8.5% |
| Other operating charges | 640/8 | €10,715 | €11,052 | +€337 | +3.1% |
| Gross operating margin | 9900 | €523,348 | €583,985 | +€60,637 | +11.6% |
| Operating profit (loss) | 9901 | €1,663 | €3,679 | +€2,016 | +121.2% |
| Financial income | 75/76B | €47,760 | €38,900 | -€8,860 | -18.6% |
| Recurring financial income | 75 | €47,760 | €38,900 | -€8,860 | -18.6% |
| Financial charges | 65/66B | €1,673 | €3,679 | +€2,006 | +120.0% |
| Recurring financial charges | 65 | €1,673 | €3,679 | +€2,006 | +120.0% |
| Profit (loss) for the period before taxes | 9903 | €47,751 | €38,900 | -€8,851 | -18.5% |
| Profit (loss) for the period | 9904 | €47,751 | €38,900 | -€8,851 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,751 | €38,900 | -€8,851 | -18.5% |
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.