SENFF: 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.
SENFF
Largest movements
- Receivables after one year +€300,000
new in 2025: €300,000
- Tangible fixed assets +€167,027
up €167,027 (+77.1%), from €216,637 to €383,664
of which Land and buildings: +€235,298
- Receivables within one year +€137,432
up €137,432 (+493.3%), from €27,862 to €165,293
of which Other amounts receivable: +€146,371
- Cash -€64,775
down €64,775 (-51.3%), from €126,300 to €61,525
mainly Receivables after one year (-€300,000) and Investment in fixed assets (net) (-€200,093)
- Other debts +€588,278
up €588,278 (+706.8%), from €83,227 to €671,505
- Debts after one year -€151,136
down €151,136 (-74.2%), from €203,776 to €52,640
of which Other amounts payable: -€117,000
- Reserves +€117,076
up €117,076 (+85.7%), from €136,595 to €253,671
of which Distributable reserves: +€117,076
- Tax, wage and social debts +€48,030
up €48,030 (+67.4%), from €71,278 to €119,308
- Provisions -€35,000
down €35,000 (-100.0%), from €35,000 to €0
of which Provisions for liabilities and charges: -€35,000
- Gross operating margin -€174,232
down €174,232 (-45.5%), from €382,996 to €208,763
- Provisions -€70,000
down €70,000, from €35,000 to -€35,000
- Taxes -€32,598
down €32,598 (-39.7%), from €82,143 to €49,545
- Depreciation -€14,699
down €14,699 (-30.8%), from €47,765 to €33,066
- Financial charges +€10,364
up €10,364 (+76.6%), from €13,523 to €23,887
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 | €925,799 | €1,467,338 | +€541,539 | +58.5% |
| Fixed assets | 21/28 | €771,637 | €938,664 | +€167,027 | +21.6% |
| Tangible fixed assets | 22/27 | €216,637 | €383,664 | +€167,027 | +77.1% |
| Land and buildings | 22 | €76,537 | €311,835 | +€235,298 | +307.4% |
| Plant, machinery and equipment | 23 | €16,975 | €4,727 | -€12,248 | -72.2% |
| Furniture and vehicles | 24 | €82,718 | €67,101 | -€15,617 | -18.9% |
| Other tangible fixed assets | 26 | €40,406 | €0 | -€40,406 | -100.0% |
| Financial fixed assets | 28 | €555,000 | €555,000 | = | 0.0% |
| Current assets | 29/58 | €154,162 | €528,674 | +€374,512 | +242.9% |
| Amounts receivable after more than one year | 29 | - | €300,000 | +€300,000 | |
| Other amounts receivable | 291 | - | €300,000 | +€300,000 | |
| Amounts receivable within one year | 40/41 | €27,862 | €165,293 | +€137,432 | +493.3% |
| Trade receivables | 40 | €24,060 | €15,121 | -€8,940 | -37.2% |
| Other amounts receivable | 41 | €3,802 | €150,173 | +€146,371 | +3850.2% |
| Cash at bank and in hand | 54/58 | €126,300 | €61,525 | -€64,775 | -51.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,855 | +€1,855 | |
| Total equity and liabilities | 10/49 | €925,799 | €1,467,338 | +€541,539 | +58.5% |
| Equity | 10/15 | €458,795 | €575,871 | +€117,076 | +25.5% |
| Contributions | 10/11 | €322,200 | €322,200 | = | 0.0% |
| Reserves | 13 | €136,595 | €253,671 | +€117,076 | +85.7% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €136,595 | €253,671 | +€117,076 | +85.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €35,000 | €0 | -€35,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €35,000 | €0 | -€35,000 | -100.0% |
| Other liabilities and charges | 164/5 | €35,000 | €0 | -€35,000 | -100.0% |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €432,004 | €891,466 | +€459,463 | +106.4% |
| Amounts payable after more than one year | 17 | €203,776 | €52,640 | -€151,136 | -74.2% |
| Financial debts | 170/4 | €77,776 | €43,640 | -€34,136 | -43.9% |
| Other amounts payable | 178/9 | €126,000 | €9,000 | -€117,000 | -92.9% |
| Amounts payable within one year | 42/48 | €228,228 | €838,826 | +€610,599 | +267.5% |
| Current portion of amounts payable after more than one year | 42 | €34,046 | €35,253 | +€1,207 | +3.5% |
| Trade debts | 44 | €39,677 | €12,760 | -€26,916 | -67.8% |
| Suppliers | 440/4 | €39,677 | €12,760 | -€26,916 | -67.8% |
| Taxes, remuneration and social security | 45 | €71,278 | €119,308 | +€48,030 | +67.4% |
| Taxes | 450/3 | €71,278 | €119,308 | +€48,030 | +67.4% |
| Other amounts payable | 47/48 | €83,227 | €671,505 | +€588,278 | +706.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,100 | €0 | -€2,100 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,765 | €33,066 | -€14,699 | -30.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €35,000 | -€35,000 | -€70,000 | |
| Other operating charges | 640/8 | €7,967 | €6,577 | -€1,390 | -17.4% |
| Non-recurring operating charges | 66A | - | €21,000 | +€21,000 | |
| Gross operating margin | 9900 | €382,996 | €208,763 | -€174,232 | -45.5% |
| Operating profit (loss) | 9901 | €290,164 | €183,121 | -€107,043 | -36.9% |
| Financial income | 75/76B | €0 | €7,388 | +€7,388 | +24625500.0% |
| Recurring financial income | 75 | €0 | €7,388 | +€7,388 | +24625500.0% |
| Financial charges | 65/66B | €13,523 | €23,887 | +€10,364 | +76.6% |
| Recurring financial charges | 65 | €13,523 | €23,887 | +€10,364 | +76.6% |
| Profit (loss) for the period before taxes | 9903 | €276,641 | €166,621 | -€110,019 | -39.8% |
| Transfer from deferred taxes | 780 | €3,255 | €0 | -€3,255 | -100.0% |
| Income taxes | 67/77 | €82,143 | €49,545 | -€32,598 | -39.7% |
| Profit (loss) for the period | 9904 | €197,753 | €117,076 | -€80,677 | -40.8% |
| Transfer from tax-exempt reserves | 789 | €6,321 | €0 | -€6,321 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,074 | €117,076 | -€86,998 | -42.6% |
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.