SF ELEC: 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 ELEC
Largest movements
- Cash +€7,629
up €7,629 (+36.5%), from €20,879 to €28,508
mainly Net result for the year (+€30,243) and Depreciation (+€7,953)
- Stocks and contracts +€4,352
up €4,352 (+76.0%), from €5,726 to €10,078
- Receivables within one year +€4,118
up €4,118 (+71.5%), from €5,760 to €9,878
of which Trade receivables: +€3,240
- Profit (loss) carried forward +€29,393
up €29,393 (+348.1%), from €8,443 to €37,836
- Other debts -€18,547
down €18,547 (-41.0%), from €45,232 to €26,685
- Tax, wage and social debts +€7,195
up €7,195 (+202.4%), from €3,555 to €10,750
of which Taxes: +€5,650
- Advances received -€1,750
no longer reported in 2025 (was €1,750)
- Gross operating margin +€35,447
up €35,447 (+179.0%), from €19,806 to €55,253
- Staff costs +€8,764
up €8,764 (+772.2%), from €1,135 to €9,899
- Taxes +€5,650
up €5,650 (+331.0%), from €1,707 to €7,357
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 | €61,084 | €77,171 | +€16,087 | +26.3% |
| Fixed assets | 21/28 | €27,781 | €27,721 | -€60 | -0.2% |
| Tangible fixed assets | 22/27 | €27,576 | €27,516 | -€60 | -0.2% |
| Plant, machinery and equipment | 23 | €2,481 | €4,012 | +€1,531 | +61.7% |
| Furniture and vehicles | 24 | €25,095 | €23,504 | -€1,591 | -6.3% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €33,303 | €49,450 | +€16,147 | +48.5% |
| Stocks and contracts in progress | 3 | €5,726 | €10,078 | +€4,352 | +76.0% |
| Stocks | 30/36 | €5,726 | €10,078 | +€4,352 | +76.0% |
| Amounts receivable within one year | 40/41 | €5,760 | €9,878 | +€4,118 | +71.5% |
| Trade receivables | 40 | €4,706 | €7,946 | +€3,240 | +68.8% |
| Other amounts receivable | 41 | €1,054 | €1,932 | +€878 | +83.3% |
| Cash at bank and in hand | 54/58 | €20,879 | €28,508 | +€7,629 | +36.5% |
| Deferred charges and accrued income | 490/1 | €938 | €986 | +€48 | +5.1% |
| Total equity and liabilities | 10/49 | €61,084 | €77,171 | +€16,087 | +26.3% |
| Equity | 10/15 | €8,943 | €38,336 | +€29,393 | +328.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,443 | €37,836 | +€29,393 | +348.1% |
| Amounts payable | 17/49 | €52,141 | €38,835 | -€13,306 | -25.5% |
| Amounts payable within one year | 42/48 | €52,141 | €38,835 | -€13,306 | -25.5% |
| Trade debts | 44 | €1,604 | €1,400 | -€204 | -12.7% |
| Suppliers | 440/4 | €1,604 | €1,400 | -€204 | -12.7% |
| Advances received on contracts in progress | 46 | €1,750 | - | -€1,750 | |
| Taxes, remuneration and social security | 45 | €3,555 | €10,750 | +€7,195 | +202.4% |
| Taxes | 450/3 | €3,207 | €8,857 | +€5,650 | +176.2% |
| Remuneration and social security | 454/9 | €348 | €1,893 | +€1,545 | +444.0% |
| Other amounts payable | 47/48 | €45,232 | €26,685 | -€18,547 | -41.0% |
| Remuneration, social security and pensions | 62 | €1,135 | €9,899 | +€8,764 | +772.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,509 | €7,953 | +€444 | +5.9% |
| Other operating charges | 640/8 | €908 | €779 | -€129 | -14.2% |
| Gross operating margin | 9900 | €19,806 | €55,253 | +€35,447 | +179.0% |
| Operating profit (loss) | 9901 | €10,254 | €36,622 | +€26,368 | +257.1% |
| Financial income | 75/76B | €765 | €1,061 | +€296 | +38.7% |
| Recurring financial income | 75 | €765 | €1,061 | +€296 | +38.7% |
| Financial charges | 65/66B | €12 | €83 | +€71 | +591.7% |
| Recurring financial charges | 65 | €12 | €83 | +€71 | +591.7% |
| Profit (loss) for the period before taxes | 9903 | €11,007 | €37,600 | +€26,593 | +241.6% |
| Income taxes | 67/77 | €1,707 | €7,357 | +€5,650 | +331.0% |
| Profit (loss) for the period | 9904 | €9,300 | €30,243 | +€20,943 | +225.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,300 | €30,243 | +€20,943 | +225.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.