SFE INTERNATIONAL: 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.
SFE INTERNATIONAL
Largest movements
- Receivables within one year +€15,244
up €15,244 (+106%), from €14,435 to €29,679
of which Other amounts receivable: +€11,752
- Tangible fixed assets +€7,138
up €7,138 (+1,191%), from €599 to €7,737
of which Other tangible fixed assets: +€5,300
- Cash +€2,345
up €2,345 (+25.6%), from €9,156 to €11,501
mainly Net result for the year (+€19,920) and Trade debts (+€6,841)
- Deferred charges and accrued income +€1,476
new in 2025: €1,476
- Profit (loss) carried forward +€19,920
up €19,920, from -€6,428 to €13,493
- Trade debts +€6,841
up €6,841 (+85.8%), from €7,971 to €14,811
- Other debts -€5,297
no longer reported in 2025 (was €5,297)
- Tax, wage and social debts +€4,739
new in 2025: €4,739
- Gross operating margin +€21,716
up €21,716 (+499%), from €4,349 to €26,065
- Taxes +€4,739
new in 2025: €4,739
- Other operating charges -€3,853
down €3,853 (-82.9%), from €4,648 to €795
- Financial income -€298
down €298 (-58.8%), from €507 to €209
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.
Derived cash bridge
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 | €36,840 | €63,043 | +€26,203 | +71.1% |
| Fixed assets | 21/28 | €13,249 | €20,387 | +€7,138 | +53.9% |
| Tangible fixed assets | 22/27 | €599 | €7,737 | +€7,138 | +1,191% |
| Furniture and vehicles | 24 | €599 | €2,437 | +€1,838 | +307% |
| Other tangible fixed assets | 26 | - | €5,300 | +€5,300 | |
| Financial fixed assets | 28 | €12,650 | €12,650 | = | 0.0% |
| Current assets | 29/58 | €23,591 | €42,656 | +€19,065 | +80.8% |
| Amounts receivable within one year | 40/41 | €14,435 | €29,679 | +€15,244 | +106% |
| Trade receivables | 40 | €10,342 | €13,834 | +€3,492 | +33.8% |
| Other amounts receivable | 41 | €4,092 | €15,845 | +€11,752 | +287% |
| Cash at bank and in hand | 54/58 | €9,156 | €11,501 | +€2,345 | +25.6% |
| Deferred charges and accrued income | 490/1 | - | €1,476 | +€1,476 | |
| Total equity and liabilities | 10/49 | €36,840 | €63,043 | +€26,203 | +71.1% |
| Equity | 10/15 | €23,572 | €43,493 | +€19,920 | +84.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,428 | €13,493 | +€19,920 | |
| Amounts payable | 17/49 | €13,267 | €19,550 | +€6,283 | +47.4% |
| Amounts payable within one year | 42/48 | €13,267 | €19,550 | +€6,283 | +47.4% |
| Trade debts | 44 | €7,971 | €14,811 | +€6,841 | +85.8% |
| Suppliers | 440/4 | €7,971 | €14,811 | +€6,841 | +85.8% |
| Taxes, remuneration and social security | 45 | - | €4,739 | +€4,739 | |
| Taxes | 450/3 | - | €4,739 | +€4,739 | |
| Other amounts payable | 47/48 | €5,297 | - | -€5,297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €604 | €648 | +€44 | +7.2% |
| Other operating charges | 640/8 | €4,648 | €795 | -€3,853 | -82.9% |
| Gross operating margin | 9900 | €4,349 | €26,065 | +€21,716 | +499% |
| Operating profit (loss) | 9901 | -€903 | €24,623 | +€25,525 | |
| Financial income | 75/76B | €507 | €209 | -€298 | -58.8% |
| Recurring financial income | 75 | €507 | €209 | -€298 | -58.8% |
| Financial charges | 65/66B | €117 | €172 | +€55 | +46.9% |
| Recurring financial charges | 65 | €117 | €172 | +€55 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | -€513 | €24,660 | +€25,173 | |
| Income taxes | 67/77 | - | €4,739 | +€4,739 | |
| Profit (loss) for the period | 9904 | -€513 | €19,920 | +€20,433 | |
| Profit (loss) for the period to be appropriated | 9905 | -€513 | €19,920 | +€20,433 |
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 21 October 2026 via checked.be.