SFE: 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.
SFE
Largest movements
- Receivables within one year +€5,072
up €5,072 (+25.7%), from €19,774 to €24,846
of which Trade receivables: +€7,504
- Tangible fixed assets +€2,799
up €2,799 (+18.1%), from €15,506 to €18,305
- Cash +€2,456
up €2,456 (+102.1%), from €2,405 to €4,861
mainly Depreciation (+€6,001) and Trade debts (+€5,757)
- Deferred charges and accrued income +€915
new in 2025: €915
- Trade debts +€5,757
up €5,757 (+48.5%), from €11,879 to €17,636
- Reserves +€5,041
up €5,041 (+26.4%), from €19,062 to €24,103
- Gross operating margin -€9,086
down €9,086 (-35.5%), from €25,602 to €16,516
- Depreciation +€4,907
up €4,907 (+448.7%), from €1,094 to €6,001
- Taxes -€2,709
down €2,709 (-48.7%), from €5,564 to €2,855
- Other operating charges +€2,370
up €2,370 (+615.7%), from €385 to €2,755
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 | €37,686 | €48,927 | +€11,242 | +29.8% |
| Fixed assets | 21/28 | €15,506 | €18,305 | +€2,799 | +18.1% |
| Tangible fixed assets | 22/27 | €15,506 | €18,305 | +€2,799 | +18.1% |
| Furniture and vehicles | 24 | €15,506 | €18,305 | +€2,799 | +18.1% |
| Current assets | 29/58 | €22,179 | €30,622 | +€8,443 | +38.1% |
| Amounts receivable within one year | 40/41 | €19,774 | €24,846 | +€5,072 | +25.7% |
| Trade receivables | 40 | €8,005 | €15,509 | +€7,504 | +93.7% |
| Other amounts receivable | 41 | €11,769 | €9,337 | -€2,432 | -20.7% |
| Cash at bank and in hand | 54/58 | €2,405 | €4,861 | +€2,456 | +102.1% |
| Deferred charges and accrued income | 490/1 | - | €915 | +€915 | |
| Total equity and liabilities | 10/49 | €37,686 | €48,927 | +€11,242 | +29.8% |
| Equity | 10/15 | €20,062 | €25,103 | +€5,041 | +25.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €19,062 | €24,103 | +€5,041 | +26.4% |
| Distributable reserves | 133 | €19,062 | €24,103 | +€5,041 | +26.4% |
| Amounts payable | 17/49 | €17,623 | €23,824 | +€6,201 | +35.2% |
| Amounts payable within one year | 42/48 | €17,623 | €23,824 | +€6,201 | +35.2% |
| Trade debts | 44 | €11,879 | €17,636 | +€5,757 | +48.5% |
| Suppliers | 440/4 | €11,879 | €17,636 | +€5,757 | +48.5% |
| Taxes, remuneration and social security | 45 | €5,744 | €6,188 | +€444 | +7.7% |
| Taxes | 450/3 | €5,744 | €6,188 | +€444 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,094 | €6,001 | +€4,907 | +448.7% |
| Other operating charges | 640/8 | €385 | €2,755 | +€2,370 | +615.7% |
| Gross operating margin | 9900 | €25,602 | €16,516 | -€9,086 | -35.5% |
| Operating profit (loss) | 9901 | €24,124 | €7,760 | -€16,364 | -67.8% |
| Financial income | 75/76B | €591 | €450 | -€142 | -23.9% |
| Recurring financial income | 75 | €591 | €450 | -€142 | -23.9% |
| Financial charges | 65/66B | €89 | €314 | +€225 | +253.1% |
| Recurring financial charges | 65 | €89 | €314 | +€225 | +253.1% |
| Profit (loss) for the period before taxes | 9903 | €24,626 | €7,896 | -€16,730 | -67.9% |
| Income taxes | 67/77 | €5,564 | €2,855 | -€2,709 | -48.7% |
| Profit (loss) for the period | 9904 | €19,062 | €5,041 | -€14,021 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,062 | €5,041 | -€14,021 | -73.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.