SFECO: 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.
SFECO
Largest movements
- Cash -€975
down €975 (-4.8%), from €20,327 to €19,352
mainly Receivables within one year (-€632) and Tax, wage and social debts (-€424)
- Receivables within one year +€632
new in 2025: €632
- Tax, wage and social debts -€424
no longer reported in 2025 (was €424)
- Financial income +€734
new in 2025: €734
- Gross operating margin +€95
up €95 (+33.5%), from -€283 to -€188
- Other operating charges +€14
up €14 (+3.2%), from €451 to €465
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 | €20,327 | €19,983 | -€344 | -1.7% |
| Current assets | 29/58 | €20,327 | €19,983 | -€344 | -1.7% |
| Amounts receivable within one year | 40/41 | - | €632 | +€632 | |
| Other amounts receivable | 41 | - | €632 | +€632 | |
| Cash at bank and in hand | 54/58 | €20,327 | €19,352 | -€975 | -4.8% |
| Total equity and liabilities | 10/49 | €20,327 | €19,983 | -€344 | -1.7% |
| Equity | 10/15 | €17,604 | €17,684 | +€80 | +0.5% |
| Contributions | 10/11 | €1,800 | €1,800 | = | 0.0% |
| Reserves | 13 | €20,531 | €20,531 | = | 0.0% |
| Distributable reserves | 133 | €20,531 | €20,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,727 | -€4,647 | +€80 | +1.7% |
| Amounts payable | 17/49 | €2,723 | €2,300 | -€424 | -15.6% |
| Amounts payable after more than one year | 17 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 178/9 | €2,300 | €2,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €424 | - | -€424 | |
| Taxes, remuneration and social security | 45 | €424 | - | -€424 | |
| Taxes | 450/3 | €424 | - | -€424 | |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | -€283 | -€188 | +€95 | +33.5% |
| Operating profit (loss) | 9901 | -€734 | -€654 | +€80 | +11.0% |
| Financial income | 75/76B | - | €734 | +€734 | |
| Recurring financial income | 75 | - | €734 | +€734 | |
| Profit (loss) for the period before taxes | 9903 | -€734 | €80 | +€814 | |
| Profit (loss) for the period | 9904 | -€734 | €80 | +€814 | |
| Profit (loss) for the period to be appropriated | 9905 | -€734 | €80 | +€814 |
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 14 October 2026 via checked.be.