SFH: 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.
SFH
Largest movements
- Cash -€725,293
down €725,293 (-99.6%), from €728,298 to €3,005
mainly Other debts (-€969,389) and Tax, wage and social debts (-€8,840)
- Deferred charges and accrued income -€203,397
down €203,397 (-97.5%), from €208,516 to €5,119
- Other debts -€969,389
down €969,389 (-84.3%), from €1.2m to €180,611
- Gross operating margin -€118,019
down €118,019 (-47.0%), from €250,908 to €132,889
- Financial income -€16,216
down €16,216 (-39.8%), from €40,720 to €24,505
of which Financial income: -€16,216
- Staff costs +€9,768
up €9,768 (+11.3%), from €86,139 to €95,907
- Financial charges +€7,043
up €7,043 (+32.1%), from €21,960 to €29,003
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 | €4,527,859 | €3,574,479 | -€953,381 | -21.1% |
| Fixed assets | 21/28 | €3,512,138 | €3,512,025 | -€113 | 0.0% |
| Tangible fixed assets | 22/27 | €1,080 | €967 | -€113 | -10.5% |
| Plant, machinery and equipment | 23 | €1,080 | €967 | -€113 | -10.5% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €3,511,058 | €3,511,058 | = | 0.0% |
| Current assets | 29/58 | €1,015,721 | €62,454 | -€953,267 | -93.9% |
| Amounts receivable within one year | 40/41 | €78,907 | €54,329 | -€24,578 | -31.1% |
| Trade receivables | 40 | €48,400 | €48,501 | +€101 | +0.2% |
| Other amounts receivable | 41 | €30,507 | €5,828 | -€24,679 | -80.9% |
| Cash at bank and in hand | 54/58 | €728,298 | €3,005 | -€725,293 | -99.6% |
| Deferred charges and accrued income | 490/1 | €208,516 | €5,119 | -€203,397 | -97.5% |
| Total equity and liabilities | 10/49 | €4,527,859 | €3,574,479 | -€953,381 | -21.1% |
| Equity | 10/15 | €2,815,837 | €2,832,802 | +€16,965 | +0.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €2,565,837 | €2,582,802 | +€16,965 | +0.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,565,837 | €2,582,802 | +€16,965 | +0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,712,022 | €741,676 | -€970,346 | -56.7% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,200,772 | €230,872 | -€969,900 | -80.8% |
| Trade debts | 44 | €30,753 | €39,081 | +€8,329 | +27.1% |
| Suppliers | 440/4 | €30,753 | €39,081 | +€8,329 | +27.1% |
| Taxes, remuneration and social security | 45 | €20,019 | €11,180 | -€8,840 | -44.2% |
| Taxes | 450/3 | €5,817 | €1,585 | -€4,232 | -72.8% |
| Remuneration and social security | 454/9 | €14,202 | €9,595 | -€4,608 | -32.4% |
| Other amounts payable | 47/48 | €1,150,000 | €180,611 | -€969,389 | -84.3% |
| Accrued charges and deferred income | 492/3 | €11,250 | €10,804 | -€446 | -4.0% |
| Remuneration, social security and pensions | 62 | €86,139 | €95,907 | +€9,768 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54 | €113 | +€59 | +110% |
| Other operating charges | 640/8 | €2,705 | €3,820 | +€1,114 | +41.2% |
| Gross operating margin | 9900 | €250,908 | €132,889 | -€118,019 | -47.0% |
| Operating profit (loss) | 9901 | €162,009 | €33,049 | -€128,960 | -79.6% |
| Financial income | 75/76B | €40,720 | €24,505 | -€16,216 | -39.8% |
| Recurring financial income | 75 | €40,720 | €24,505 | -€16,216 | -39.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €21,960 | €29,003 | +€7,043 | +32.1% |
| Recurring financial charges | 65 | €21,960 | €29,003 | +€7,043 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €180,769 | €28,550 | -€152,219 | -84.2% |
| Income taxes | 67/77 | €10,543 | €11,585 | +€1,042 | +9.9% |
| Profit (loss) for the period | 9904 | €170,226 | €16,965 | -€153,261 | -90.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €170,226 | €16,965 | -€153,261 | -90.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.