SFER FORMATIONS: 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.
SFER FORMATIONS
Largest movements
- Tangible fixed assets +€55,023
up €55,023 (+507.3%), from €10,845 to €65,869
of which Plant, machinery and equipment: +€28,999
- Cash +€22,287
up €22,287 (+11.8%), from €188,947 to €211,233
mainly Net result for the year (+€79,746) and Accrued charges and deferred income (+€16,438)
- Receivables within one year -€5,932
down €5,932 (-4.3%), from €138,792 to €132,860
of which Other amounts receivable: -€3,934
- Reserves +€79,746
up €79,746 (+90.3%), from €88,360 to €168,106
- Accrued charges and deferred income +€16,438
up €16,438 (+23.8%), from €69,000 to €85,438
- Profit (loss) carried forward -€15,000
down €15,000 (-18.4%), from €81,424 to €66,424
- Trade debts -€7,215
down €7,215 (-26.5%), from €27,259 to €20,044
of which Bills of exchange payable: -€10,765
- Staff costs +€20,625
up €20,625 (+38.0%), from €54,249 to €74,874
- Gross operating margin +€18,100
up €18,100 (+9.5%), from €191,412 to €209,512
- Depreciation +€7,961
up €7,961 (+454.6%), from €1,751 to €9,713
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 | €346,926 | €418,182 | +€71,255 | +20.5% |
| Fixed assets | 21/28 | €15,929 | €70,952 | +€55,023 | +345.4% |
| Tangible fixed assets | 22/27 | €10,845 | €65,869 | +€55,023 | +507.3% |
| Plant, machinery and equipment | 23 | €1,636 | €30,635 | +€28,999 | +1772.3% |
| Furniture and vehicles | 24 | €9,209 | €35,234 | +€26,024 | +282.6% |
| Financial fixed assets | 28 | €5,083 | €5,083 | = | 0.0% |
| Current assets | 29/58 | €330,997 | €347,229 | +€16,232 | +4.9% |
| Amounts receivable within one year | 40/41 | €138,792 | €132,860 | -€5,932 | -4.3% |
| Trade receivables | 40 | €134,093 | €132,095 | -€1,998 | -1.5% |
| Other amounts receivable | 41 | €4,699 | €765 | -€3,934 | -83.7% |
| Cash at bank and in hand | 54/58 | €188,947 | €211,233 | +€22,287 | +11.8% |
| Deferred charges and accrued income | 490/1 | €3,259 | €3,136 | -€122 | -3.8% |
| Total equity and liabilities | 10/49 | €346,926 | €418,182 | +€71,255 | +20.5% |
| Equity | 10/15 | €174,785 | €239,530 | +€64,746 | +37.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €88,360 | €168,106 | +€79,746 | +90.3% |
| Distributable reserves | 133 | €88,360 | €168,106 | +€79,746 | +90.3% |
| Profit (loss) carried forward | 14 | €81,424 | €66,424 | -€15,000 | -18.4% |
| Amounts payable | 17/49 | €172,142 | €178,651 | +€6,510 | +3.8% |
| Amounts payable within one year | 42/48 | €103,142 | €93,213 | -€9,928 | -9.6% |
| Trade debts | 44 | €27,259 | €20,044 | -€7,215 | -26.5% |
| Suppliers | 440/4 | €15,915 | €19,466 | +€3,551 | +22.3% |
| Bills of exchange payable | 441 | €11,344 | €579 | -€10,765 | -94.9% |
| Taxes, remuneration and social security | 45 | €60,883 | €57,966 | -€2,917 | -4.8% |
| Taxes | 450/3 | €57,051 | €50,997 | -€6,055 | -10.6% |
| Remuneration and social security | 454/9 | €3,831 | €6,969 | +€3,138 | +81.9% |
| Other amounts payable | 47/48 | €15,000 | €15,203 | +€203 | +1.4% |
| Accrued charges and deferred income | 492/3 | €69,000 | €85,438 | +€16,438 | +23.8% |
| Non-recurring operating income | 76A | - | €68 | +€68 | |
| Remuneration, social security and pensions | 62 | €54,249 | €74,874 | +€20,625 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,751 | €9,713 | +€7,961 | +454.6% |
| Other operating charges | 640/8 | €1,373 | €1,773 | +€401 | +29.2% |
| Non-recurring operating charges | 66A | - | €580 | +€580 | |
| Gross operating margin | 9900 | €191,412 | €209,512 | +€18,100 | +9.5% |
| Operating profit (loss) | 9901 | €134,038 | €122,572 | -€11,466 | -8.6% |
| Financial income | 75/76B | €173 | €3 | -€170 | -98.2% |
| Recurring financial income | 75 | €173 | €3 | -€170 | -98.2% |
| Financial charges | 65/66B | €4,715 | €3,109 | -€1,606 | -34.1% |
| Recurring financial charges | 65 | €4,715 | €3,109 | -€1,606 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €129,496 | €119,466 | -€10,030 | -7.7% |
| Income taxes | 67/77 | €41,136 | €39,720 | -€1,416 | -3.4% |
| Profit (loss) for the period | 9904 | €88,360 | €79,746 | -€8,615 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €88,360 | €79,746 | -€8,615 | -9.7% |
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 6 October 2026 via checked.be.