Sfida: 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.
Sfida
Largest movements
- Cash +€4,684
up €4,684 (+21.0%), from €22,272 to €26,956
mainly Net result for the year (+€9,992) and Depreciation (+€1,350)
- Receivables within one year +€2,737
up €2,737 (+10.8%), from €25,298 to €28,035
of which Trade receivables: +€2,548
- Deferred charges and accrued income -€676
down €676 (-43.7%), from €1,549 to €873
- Profit (loss) carried forward +€9,992
up €9,992 (+63.6%), from €15,701 to €25,694
- Other debts -€2,043
down €2,043 (-100.0%), from €2,043 to €0
- Tax, wage and social debts -€1,786
down €1,786 (-17.3%), from €10,313 to €8,527
of which Remuneration and social security: -€2,658
- Gross operating margin +€8,066
up €8,066 (+87.5%), from €9,222 to €17,288
- Taxes +€1,511
up €1,511 (+68.6%), from €2,204 to €3,715
- Financial income -€1,304
down €1,304 (-98.8%), from €1,319 to €15
- Financial charges -€766
down €766 (-54.2%), from €1,414 to €648
- Other operating charges +€588
up €588 (+58.2%), from €1,010 to €1,598
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 | €50,811 | €57,362 | +€6,552 | +12.9% |
| Fixed assets | 21/28 | €1,691 | €1,498 | -€193 | -11.4% |
| Tangible fixed assets | 22/27 | €1,691 | €1,498 | -€193 | -11.4% |
| Plant, machinery and equipment | 23 | €713 | €384 | -€329 | -46.2% |
| Furniture and vehicles | 24 | €979 | €1,114 | +€136 | +13.8% |
| Current assets | 29/58 | €49,119 | €55,864 | +€6,745 | +13.7% |
| Amounts receivable within one year | 40/41 | €25,298 | €28,035 | +€2,737 | +10.8% |
| Trade receivables | 40 | €24,503 | €27,050 | +€2,548 | +10.4% |
| Other amounts receivable | 41 | €796 | €985 | +€189 | +23.8% |
| Cash at bank and in hand | 54/58 | €22,272 | €26,956 | +€4,684 | +21.0% |
| Deferred charges and accrued income | 490/1 | €1,549 | €873 | -€676 | -43.7% |
| Total equity and liabilities | 10/49 | €50,811 | €57,362 | +€6,552 | +12.9% |
| Equity | 10/15 | €36,161 | €46,154 | +€9,992 | +27.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,701 | €25,694 | +€9,992 | +63.6% |
| Amounts payable | 17/49 | €14,650 | €11,209 | -€3,441 | -23.5% |
| Amounts payable within one year | 42/48 | €14,650 | €11,209 | -€3,441 | -23.5% |
| Financial debts | 43 | - | €3 | +€3 | |
| Credit institutions | 430/8 | - | €3 | +€3 | |
| Trade debts | 44 | €2,294 | €2,679 | +€385 | +16.8% |
| Suppliers | 440/4 | €2,294 | €2,679 | +€385 | +16.8% |
| Taxes, remuneration and social security | 45 | €10,313 | €8,527 | -€1,786 | -17.3% |
| Taxes | 450/3 | €7,654 | €8,527 | +€873 | +11.4% |
| Remuneration and social security | 454/9 | €2,658 | €0 | -€2,658 | -100.0% |
| Other amounts payable | 47/48 | €2,043 | €0 | -€2,043 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,568 | €1,350 | -€219 | -13.9% |
| Other operating charges | 640/8 | €1,010 | €1,598 | +€588 | +58.2% |
| Gross operating margin | 9900 | €9,222 | €17,288 | +€8,066 | +87.5% |
| Operating profit (loss) | 9901 | €6,644 | €14,340 | +€7,696 | +115.8% |
| Financial income | 75/76B | €1,319 | €15 | -€1,304 | -98.8% |
| Recurring financial income | 75 | €1,319 | €15 | -€1,304 | -98.8% |
| Financial charges | 65/66B | €1,414 | €648 | -€766 | -54.2% |
| Recurring financial charges | 65 | €1,414 | €648 | -€766 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | €6,549 | €13,708 | +€7,158 | +109.3% |
| Income taxes | 67/77 | €2,204 | €3,715 | +€1,511 | +68.6% |
| Profit (loss) for the period | 9904 | €4,345 | €9,992 | +€5,647 | +130.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,345 | €9,992 | +€5,647 | +130.0% |
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 29 September 2026 via checked.be.