SF: 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.
SF
Largest movements
- Cash -€4,704
down €4,704 (-11.4%), from €41,208 to €36,504
mainly Net result for the year (-€5,638) and Receivables within one year (-€1,187)
- Tangible fixed assets -€1,739
down €1,739 (-31.9%), from €5,447 to €3,707
of which Furniture and vehicles: -€1,291
- Receivables within one year +€1,187
up €1,187 (+21.0%), from €5,654 to €6,841
- Deferred charges and accrued income +€955
up €955 (+121.5%), from €786 to €1,741
- Profit (loss) carried forward -€5,638
down €5,638 (-539.4%), from -€1,045 to -€6,683
- Trade debts +€1,655
up €1,655 (+999.7%), from €166 to €1,821
- Accrued charges and deferred income -€1,183
no longer reported in 2025 (was €1,183)
- Tax, wage and social debts +€641
up €641 (+7.2%), from €8,922 to €9,562
of which Taxes: +€625
- Gross operating margin -€12,383
down €12,383, from €9,594 to -€2,789
- Depreciation -€5,510
down €5,510 (-73.6%), from €7,490 to €1,980
- Taxes -€435
down €435 (-75.3%), from €578 to €143
- Financial charges -€297
down €297 (-40.3%), from €738 to €441
- Other operating charges -€139
down €139 (-32.6%), from €425 to €286
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 | €53,335 | €48,794 | -€4,541 | -8.5% |
| Fixed assets | 21/28 | €5,687 | €3,707 | -€1,980 | -34.8% |
| Intangible fixed assets | 21 | €241 | - | -€241 | |
| Tangible fixed assets | 22/27 | €5,447 | €3,707 | -€1,739 | -31.9% |
| Plant, machinery and equipment | 23 | €1,423 | €975 | -€448 | -31.5% |
| Furniture and vehicles | 24 | €4,023 | €2,732 | -€1,291 | -32.1% |
| Current assets | 29/58 | €47,648 | €45,086 | -€2,561 | -5.4% |
| Amounts receivable within one year | 40/41 | €5,654 | €6,841 | +€1,187 | +21.0% |
| Trade receivables | 40 | €5,654 | €6,841 | +€1,187 | +21.0% |
| Cash at bank and in hand | 54/58 | €41,208 | €36,504 | -€4,704 | -11.4% |
| Deferred charges and accrued income | 490/1 | €786 | €1,741 | +€955 | +121.5% |
| Total equity and liabilities | 10/49 | €53,335 | €48,794 | -€4,541 | -8.5% |
| Equity | 10/15 | €30,630 | €24,992 | -€5,638 | -18.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,675 | €26,675 | = | 0.0% |
| Distributable reserves | 133 | €26,675 | €26,675 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,045 | -€6,683 | -€5,638 | -539.4% |
| Amounts payable | 17/49 | €22,705 | €23,802 | +€1,097 | +4.8% |
| Amounts payable after more than one year | 17 | €12,435 | €12,419 | -€16 | -0.1% |
| Other amounts payable | 178/9 | €12,435 | €12,419 | -€16 | -0.1% |
| Amounts payable within one year | 42/48 | €9,087 | €11,383 | +€2,296 | +25.3% |
| Trade debts | 44 | €166 | €1,821 | +€1,655 | +999.7% |
| Suppliers | 440/4 | €166 | €1,821 | +€1,655 | +999.7% |
| Taxes, remuneration and social security | 45 | €8,922 | €9,562 | +€641 | +7.2% |
| Taxes | 450/3 | €6,025 | €6,650 | +€625 | +10.4% |
| Remuneration and social security | 454/9 | €2,897 | €2,912 | +€15 | +0.5% |
| Accrued charges and deferred income | 492/3 | €1,183 | - | -€1,183 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,490 | €1,980 | -€5,510 | -73.6% |
| Other operating charges | 640/8 | €425 | €286 | -€139 | -32.6% |
| Gross operating margin | 9900 | €9,594 | -€2,789 | -€12,383 | |
| Operating profit (loss) | 9901 | €1,680 | -€5,055 | -€6,734 | |
| Financial charges | 65/66B | €738 | €441 | -€297 | -40.3% |
| Recurring financial charges | 65 | €738 | €441 | -€297 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €942 | -€5,495 | -€6,437 | |
| Income taxes | 67/77 | €578 | €143 | -€435 | -75.3% |
| Profit (loss) for the period | 9904 | €364 | -€5,638 | -€6,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €364 | -€5,638 | -€6,002 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.