SF Energy Solutions: what changed
What changed
SF Energy Solutions
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€61,428
2024 · €77,348-€15,919
Equity
€41,566
2024 · €80,138-€38,572
Cash
€145,494
2024 · €74,451+€71,043
Balance sheet total
€232,979
2024 · €110,751+€122,227
Largest movements
Assets
- Cash +€71,043
up €71,043 (+95.4%), from €74,451 to €145,494
mainly Other debts (+€101,369) and Net result for the year (+€61,428)
- Tangible fixed assets +€57,137
new in 2025: €57,137
- Receivables within one year -€7,137
down €7,137 (-19.7%), from €36,300 to €29,163
Equity and liabilities
- Other debts +€101,369
up €101,369 (+12,023%), from €843 to €102,212
- Reserves -€38,572
down €38,572 (-49.4%), from €78,138 to €39,566
- Debts after one year +€30,052
new in 2025: €30,052
- Trade debts +€20,238
up €20,238 (+8,444%), from €240 to €20,477
- Current portion of long-term debt +€10,916
new in 2025: €10,916
Income statement
- Gross operating margin -€11,449
down €11,449 (-11.7%), from €98,029 to €86,580
- Depreciation +€5,189
new in 2025: €5,189
- Taxes -€2,628
down €2,628 (-13.2%), from €19,980 to €17,352
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€77,348
Gross operating margin
-€11,449
Depreciation
-€5,189
Other operating charges
-€665
Financial income
-€402
Financial charges
-€843
Taxes
+€2,628
Result 2025
€61,428
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€192,401
Investment
-€62,326
Financing
-€59,032
Cash 2024
€74,451
From operations (derived)
+€192,401
Net result for the year
+€61,428
Depreciation
+€5,189
Receivables within one year
+€7,137
Deferred charges and accrued income
-€1,184
Trade debts
+€20,238
Tax, wage and social debts
-€1,776
Other debts
+€101,369
Investment (derived)
-€62,326
Investment in fixed assets (net)
-€62,326
Financing
-€59,032
Debts after one year
+€30,052
Current portion of long-term debt
+€10,916
Contributions, distributions and other
-€100,000
Cash 2025
€145,494
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,751 | €232,979 | +€122,227 | +110% |
| Fixed assets | 21/28 | - | €57,137 | +€57,137 | |
| Tangible fixed assets | 22/27 | - | €57,137 | +€57,137 | |
| Furniture and vehicles | 24 | - | €57,137 | +€57,137 | |
| Current assets | 29/58 | €110,751 | €175,842 | +€65,091 | +58.8% |
| Amounts receivable within one year | 40/41 | €36,300 | €29,163 | -€7,137 | -19.7% |
| Trade receivables | 40 | €36,300 | €29,163 | -€7,137 | -19.7% |
| Cash at bank and in hand | 54/58 | €74,451 | €145,494 | +€71,043 | +95.4% |
| Deferred charges and accrued income | 490/1 | - | €1,184 | +€1,184 | |
| Total equity and liabilities | 10/49 | €110,751 | €232,979 | +€122,227 | +110% |
| Equity | 10/15 | €80,138 | €41,566 | -€38,572 | -48.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €78,138 | €39,566 | -€38,572 | -49.4% |
| Distributable reserves | 133 | €78,138 | €39,566 | -€38,572 | -49.4% |
| Amounts payable | 17/49 | €30,613 | €191,412 | +€160,799 | +525% |
| Amounts payable after more than one year | 17 | - | €30,052 | +€30,052 | |
| Financial debts | 170/4 | - | €30,052 | +€30,052 | |
| Amounts payable within one year | 42/48 | €29,813 | €160,560 | +€130,747 | +439% |
| Current portion of amounts payable after more than one year | 42 | - | €10,916 | +€10,916 | |
| Trade debts | 44 | €240 | €20,477 | +€20,238 | +8,444% |
| Suppliers | 440/4 | €240 | €20,477 | +€20,238 | +8,444% |
| Taxes, remuneration and social security | 45 | €28,730 | €26,955 | -€1,776 | -6.2% |
| Taxes | 450/3 | €28,730 | €26,955 | -€1,776 | -6.2% |
| Other amounts payable | 47/48 | €843 | €102,212 | +€101,369 | +12,023% |
| Accrued charges and deferred income | 492/3 | €800 | €800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,189 | +€5,189 | |
| Other operating charges | 640/8 | €1,158 | €1,823 | +€665 | +57.4% |
| Gross operating margin | 9900 | €98,029 | €86,580 | -€11,449 | -11.7% |
| Operating profit (loss) | 9901 | €96,871 | €79,568 | -€17,303 | -17.9% |
| Financial income | 75/76B | €500 | €99 | -€402 | -80.3% |
| Recurring financial income | 75 | €500 | €99 | -€402 | -80.3% |
| Financial charges | 65/66B | €43 | €886 | +€843 | +1,945% |
| Recurring financial charges | 65 | €43 | €886 | +€843 | +1,945% |
| Profit (loss) for the period before taxes | 9903 | €97,328 | €78,780 | -€18,548 | -19.1% |
| Income taxes | 67/77 | €19,980 | €17,352 | -€2,628 | -13.2% |
| Profit (loss) for the period | 9904 | €77,348 | €61,428 | -€15,919 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,348 | €61,428 | -€15,919 | -20.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.