SF PROPERTIES: 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 PROPERTIES
Largest movements
- Current investments -€85,000
no longer reported in 2025 (was €85,000)
- Cash +€68,130
up €68,130 (+284.0%), from €23,991 to €92,121
mainly Current investments (+€85,000) and Net result for the year (+€394)
- Stocks and contracts +€16,353
new in 2025: €16,353
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€2,404
up €2,404 (+879.5%), from €273 to €2,677
- Financial income -€873
down €873 (-50.3%), from €1,735 to €862
- Financial charges +€53
up €53 (+14.6%), from €362 to €415
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 | €333,367 | €332,236 | -€1,131 | -0.3% |
| Fixed assets | 21/28 | €222,809 | €222,680 | -€129 | -0.1% |
| Tangible fixed assets | 22/27 | €222,809 | €222,680 | -€129 | -0.1% |
| Land and buildings | 22 | €222,809 | €222,680 | -€129 | -0.1% |
| Current assets | 29/58 | €110,558 | €109,556 | -€1,002 | -0.9% |
| Stocks and contracts in progress | 3 | - | €16,353 | +€16,353 | |
| Contracts in progress | 37 | - | €16,353 | +€16,353 | |
| Amounts receivable within one year | 40/41 | €521 | €259 | -€262 | -50.3% |
| Other amounts receivable | 41 | €521 | €259 | -€262 | -50.3% |
| Current investments | 50/53 | €85,000 | - | -€85,000 | |
| Cash at bank and in hand | 54/58 | €23,991 | €92,121 | +€68,130 | +284.0% |
| Deferred charges and accrued income | 490/1 | €1,047 | €824 | -€223 | -21.3% |
| Total equity and liabilities | 10/49 | €333,367 | €332,236 | -€1,131 | -0.3% |
| Equity | 10/15 | €328,271 | €328,665 | +€394 | +0.1% |
| Contributions | 10/11 | €5,577 | €5,577 | = | 0.0% |
| Reserves | 13 | €322,694 | €323,088 | +€394 | +0.1% |
| Tax-exempt reserves | 132 | €3,706 | €3,706 | = | 0.0% |
| Distributable reserves | 133 | €318,988 | €319,382 | +€394 | +0.1% |
| Amounts payable | 17/49 | €5,096 | €3,571 | -€1,525 | -29.9% |
| Amounts payable within one year | 42/48 | €4,631 | €3,571 | -€1,060 | -22.9% |
| Trade debts | 44 | €4,631 | €3,571 | -€1,060 | -22.9% |
| Suppliers | 440/4 | €4,631 | €3,571 | -€1,060 | -22.9% |
| Accrued charges and deferred income | 492/3 | €465 | - | -€465 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129 | €129 | = | 0.0% |
| Other operating charges | 640/8 | €2,625 | €2,602 | -€23 | -0.9% |
| Gross operating margin | 9900 | €273 | €2,677 | +€2,404 | +879.5% |
| Operating profit (loss) | 9901 | -€2,480 | -€54 | +€2,427 | +97.8% |
| Financial income | 75/76B | €1,735 | €862 | -€873 | -50.3% |
| Recurring financial income | 75 | €1,735 | €862 | -€873 | -50.3% |
| Financial charges | 65/66B | €362 | €415 | +€53 | +14.6% |
| Recurring financial charges | 65 | €362 | €415 | +€53 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,107 | €394 | +€1,501 | |
| Profit (loss) for the period | 9904 | -€1,107 | €394 | +€1,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,107 | €394 | +€1,501 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.