SFA PROJECTS: 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.
SFA PROJECTS
Largest movements
- Receivables within one year -€14,104
down €14,104 (-44.1%), from €31,984 to €17,880
- Receivables after one year +€11,410
up €11,410 (+76.0%), from €15,017 to €26,427
- Cash +€6,604
up €6,604 (+107.9%), from €6,121 to €12,724
mainly Receivables within one year (+€14,104) and Net result for the year (+€4,218)
- Tangible fixed assets +€4,040
up €4,040 (+80.1%), from €5,041 to €9,081
of which Furniture and vehicles: +€2,384
- Profit (loss) carried forward +€4,218
up €4,218 (+11.9%), from €35,427 to €39,645
- Trade debts +€2,691
up €2,691 (+39.0%), from €6,902 to €9,593
- Tax, wage and social debts +€934
up €934 (+6.0%), from €15,523 to €16,457
of which Taxes: +€1,741
- Gross operating margin -€35,059
down €35,059 (-69.2%), from €50,698 to €15,639
- Taxes -€6,488
down €6,488 (-66.0%), from €9,832 to €3,344
- Depreciation +€3,055
up €3,055 (+318.9%), from €958 to €4,013
- Other operating charges +€2,241
up €2,241 (+284.7%), from €787 to €3,028
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 | €58,163 | €66,113 | +€7,950 | +13.7% |
| Fixed assets | 21/28 | €5,041 | €9,081 | +€4,040 | +80.1% |
| Tangible fixed assets | 22/27 | €5,041 | €9,081 | +€4,040 | +80.1% |
| Plant, machinery and equipment | 23 | - | €1,657 | +€1,657 | |
| Furniture and vehicles | 24 | €5,041 | €7,425 | +€2,384 | +47.3% |
| Current assets | 29/58 | €53,122 | €57,032 | +€3,910 | +7.4% |
| Amounts receivable after more than one year | 29 | €15,017 | €26,427 | +€11,410 | +76.0% |
| Other amounts receivable | 291 | €15,017 | €26,427 | +€11,410 | +76.0% |
| Amounts receivable within one year | 40/41 | €31,984 | €17,880 | -€14,104 | -44.1% |
| Trade receivables | 40 | €31,984 | €17,880 | -€14,104 | -44.1% |
| Cash at bank and in hand | 54/58 | €6,121 | €12,724 | +€6,604 | +107.9% |
| Total equity and liabilities | 10/49 | €58,163 | €66,113 | +€7,950 | +13.7% |
| Equity | 10/15 | €35,427 | €39,645 | +€4,218 | +11.9% |
| Profit (loss) carried forward | 14 | €35,427 | €39,645 | +€4,218 | +11.9% |
| Amounts payable | 17/49 | €22,736 | €26,468 | +€3,732 | +16.4% |
| Amounts payable within one year | 42/48 | €22,536 | €26,468 | +€3,932 | +17.4% |
| Trade debts | 44 | €6,902 | €9,593 | +€2,691 | +39.0% |
| Suppliers | 440/4 | €6,902 | €9,593 | +€2,691 | +39.0% |
| Taxes, remuneration and social security | 45 | €15,523 | €16,457 | +€934 | +6.0% |
| Taxes | 450/3 | €14,716 | €16,457 | +€1,741 | +11.8% |
| Remuneration and social security | 454/9 | €807 | - | -€807 | |
| Other amounts payable | 47/48 | €111 | €418 | +€307 | +277.6% |
| Accrued charges and deferred income | 492/3 | €200 | - | -€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €958 | €4,013 | +€3,055 | +318.9% |
| Other operating charges | 640/8 | €787 | €3,028 | +€2,241 | +284.7% |
| Gross operating margin | 9900 | €50,698 | €15,639 | -€35,059 | -69.2% |
| Operating profit (loss) | 9901 | €48,953 | €8,598 | -€40,355 | -82.4% |
| Financial income | 75/76B | €17 | €410 | +€393 | +2306.7% |
| Recurring financial income | 75 | €17 | €410 | +€393 | +2306.7% |
| Financial charges | 65/66B | €1,536 | €1,446 | -€90 | -5.8% |
| Recurring financial charges | 65 | €1,536 | €1,446 | -€90 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €47,434 | €7,563 | -€39,872 | -84.1% |
| Income taxes | 67/77 | €9,832 | €3,344 | -€6,488 | -66.0% |
| Profit (loss) for the period | 9904 | €37,602 | €4,218 | -€33,384 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,602 | €4,218 | -€33,384 | -88.8% |
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 12 October 2026 via checked.be.