SFH: 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.
SFH
Largest movements
- Deferred charges and accrued income +€60,777
up €60,777 (+44.7%), from €136,061 to €196,838
- Profit (loss) carried forward +€31,420
up €31,420, from -€4,418 to €27,002
- Accrued charges and deferred income +€24,653
up €24,653 (+38.5%), from €64,004 to €88,657
- Financial income -€10,597
down €10,597 (-14.8%), from €71,373 to €60,776
- Financial charges -€6,266
down €6,266 (-20.2%), from €31,096 to €24,830
- Gross operating margin +€2,245
up €2,245 (+96.1%), from -€2,335 to -€90
- Other operating charges +€612
up €612 (+119.1%), from €514 to €1,126
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 | €2,282,522 | €2,339,467 | +€56,945 | +2.5% |
| Formation expenses | 20 | €9,931 | €6,621 | -€3,310 | -33.3% |
| Fixed assets | 21/28 | €1,970,773 | €1,970,773 | = | 0.0% |
| Financial fixed assets | 28 | €1,970,773 | €1,970,773 | = | 0.0% |
| Current assets | 29/58 | €301,818 | €362,073 | +€60,255 | +20.0% |
| Amounts receivable within one year | 40/41 | €165,000 | €165,000 | = | 0.0% |
| Other amounts receivable | 41 | €165,000 | €165,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €757 | €235 | -€522 | -69.0% |
| Deferred charges and accrued income | 490/1 | €136,061 | €196,838 | +€60,777 | +44.7% |
| Total equity and liabilities | 10/49 | €2,282,522 | €2,339,467 | +€56,945 | +2.5% |
| Equity | 10/15 | €1,090,688 | €1,122,108 | +€31,420 | +2.9% |
| Contributions | 10/11 | €1,095,106 | €1,095,106 | = | 0.0% |
| Capital | 10 | €1,095,106 | €1,095,106 | = | 0.0% |
| Issued capital | 100 | €1,095,106 | €1,095,106 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,418 | €27,002 | +€31,420 | |
| Amounts payable | 17/49 | €1,191,834 | €1,217,359 | +€25,525 | +2.1% |
| Amounts payable after more than one year | 17 | €857,217 | €857,217 | = | 0.0% |
| Other amounts payable | 178/9 | €857,217 | €857,217 | = | 0.0% |
| Amounts payable within one year | 42/48 | €270,613 | €271,485 | +€872 | +0.3% |
| Trade debts | 44 | €4,863 | €5,735 | +€872 | +17.9% |
| Suppliers | 440/4 | €4,863 | €5,735 | +€872 | +17.9% |
| Other amounts payable | 47/48 | €265,750 | €265,750 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €64,004 | €88,657 | +€24,653 | +38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,310 | €3,310 | = | 0.0% |
| Other operating charges | 640/8 | €514 | €1,126 | +€612 | +119.1% |
| Gross operating margin | 9900 | -€2,335 | -€90 | +€2,245 | +96.1% |
| Operating profit (loss) | 9901 | -€6,159 | -€4,526 | +€1,633 | +26.5% |
| Financial income | 75/76B | €71,373 | €60,776 | -€10,597 | -14.8% |
| Recurring financial income | 75 | €71,373 | €60,776 | -€10,597 | -14.8% |
| Financial charges | 65/66B | €31,096 | €24,830 | -€6,266 | -20.2% |
| Recurring financial charges | 65 | €31,096 | €24,830 | -€6,266 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €34,118 | €31,420 | -€2,698 | -7.9% |
| Profit (loss) for the period | 9904 | €34,118 | €31,420 | -€2,698 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,118 | €31,420 | -€2,698 | -7.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.