SF CONCEPT: 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.
SF CONCEPT
Largest movements
- Tangible fixed assets -€17,935
down €17,935 (-4.5%), from €401,380 to €383,445
of which Land and buildings: -€17,401
- Receivables within one year -€11,731
no longer reported in 2025 (was €11,731)
of which Other amounts receivable: -€8,101
- Cash -€7,012
down €7,012 (-17.6%), from €39,942 to €32,930
mainly Contributions, distributions and other (-€30,000) and Debts after one year (-€20,558)
- Reserves -€30,000
down €30,000 (-74.0%), from €40,516 to €10,516
of which Distributable reserves: -€30,000
- Debts after one year -€20,558
down €20,558 (-10.0%), from €205,728 to €185,170
- Profit (loss) carried forward +€15,713
up €15,713 (+8.9%), from €177,074 to €192,787
- Gross operating margin +€8,299
up €8,299 (+22.6%), from €36,681 to €44,980
- Taxes +€1,314
up €1,314 (+31.3%), from €4,196 to €5,510
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.
Derived cash bridge
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 | €457,900 | €420,890 | -€37,010 | -8.1% |
| Fixed assets | 21/28 | €401,565 | €383,630 | -€17,935 | -4.5% |
| Tangible fixed assets | 22/27 | €401,380 | €383,445 | -€17,935 | -4.5% |
| Land and buildings | 22 | €400,014 | €382,613 | -€17,401 | -4.4% |
| Plant, machinery and equipment | 23 | €1,144 | €815 | -€329 | -28.8% |
| Furniture and vehicles | 24 | €222 | €17 | -€205 | -92.5% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €56,335 | €37,260 | -€19,075 | -33.9% |
| Amounts receivable within one year | 40/41 | €11,731 | - | -€11,731 | |
| Trade receivables | 40 | €3,630 | - | -€3,630 | |
| Other amounts receivable | 41 | €8,101 | - | -€8,101 | |
| Cash at bank and in hand | 54/58 | €39,942 | €32,930 | -€7,012 | -17.6% |
| Deferred charges and accrued income | 490/1 | €4,662 | €4,330 | -€331 | -7.1% |
| Total equity and liabilities | 10/49 | €457,900 | €420,890 | -€37,010 | -8.1% |
| Equity | 10/15 | €225,649 | €211,363 | -€14,287 | -6.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €40,516 | €10,516 | -€30,000 | -74.0% |
| Tax-exempt reserves | 132 | €2,516 | €2,516 | = | 0.0% |
| Distributable reserves | 133 | €38,000 | €8,000 | -€30,000 | -78.9% |
| Profit (loss) carried forward | 14 | €177,074 | €192,787 | +€15,713 | +8.9% |
| Amounts payable | 17/49 | €232,251 | €209,528 | -€22,723 | -9.8% |
| Amounts payable after more than one year | 17 | €205,728 | €185,170 | -€20,558 | -10.0% |
| Financial debts | 170/4 | €205,728 | €185,170 | -€20,558 | -10.0% |
| Amounts payable within one year | 42/48 | €26,523 | €24,341 | -€2,182 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €20,221 | €20,558 | +€337 | +1.7% |
| Trade debts | 44 | €3,216 | €1,687 | -€1,529 | -47.5% |
| Suppliers | 440/4 | €3,216 | €1,687 | -€1,529 | -47.5% |
| Taxes, remuneration and social security | 45 | €3,086 | €2,096 | -€990 | -32.1% |
| Taxes | 450/3 | €3,086 | €2,096 | -€990 | -32.1% |
| Accrued charges and deferred income | 492/3 | - | €16 | +€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,312 | €17,935 | -€377 | -2.1% |
| Other operating charges | 640/8 | €2,030 | €2,066 | +€36 | +1.8% |
| Gross operating margin | 9900 | €36,681 | €44,980 | +€8,299 | +22.6% |
| Operating profit (loss) | 9901 | €16,339 | €24,979 | +€8,640 | +52.9% |
| Financial income | 75/76B | €232 | - | -€232 | |
| Recurring financial income | 75 | €232 | - | -€232 | |
| Financial charges | 65/66B | €4,165 | €3,755 | -€410 | -9.8% |
| Recurring financial charges | 65 | €4,165 | €3,755 | -€410 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €12,406 | €21,224 | +€8,817 | +71.1% |
| Income taxes | 67/77 | €4,196 | €5,510 | +€1,314 | +31.3% |
| Profit (loss) for the period | 9904 | €8,210 | €15,713 | +€7,503 | +91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,210 | €15,713 | +€7,503 | +91.4% |
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 14 October 2026 via checked.be.