SFL&J: what changed
SFL&J
Largest movements
- Receivables within one year -€25,426
down €25,426 (-35.2%), from €72,166 to €46,740
of which Trade receivables: -€39,107
- Tangible fixed assets +€21,915
up €21,915 (+5.2%), from €423,988 to €445,903
of which Furniture and vehicles: +€48,062
- Cash +€14,162
up €14,162 (+28.6%), from €49,561 to €63,723
mainly Net result for the year (+€50,707) and Depreciation (+€26,935)
- Reserves +€50,707
up €50,707 (+263%), from €19,298 to €70,005
- Debts after one year -€28,876
down €28,876 (-8.8%), from €329,336 to €300,461
- Tax, wage and social debts -€12,491
down €12,491 (-65.5%), from €19,057 to €6,566
of which Taxes: -€11,767
- Gross operating margin +€24,516
up €24,516 (+27.5%), from €89,238 to €113,754
- Staff costs +€10,711
up €10,711 (+315%), from €3,397 to €14,108
- Taxes +€8,400
up €8,400 (+183%), from €4,600 to €13,000
- Other operating charges -€6,520
down €6,520 (-87.2%), from €7,480 to €960
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €547,389 | €556,366 | +€8,976 | +1.6% |
| Fixed assets | 21/28 | €423,988 | €445,903 | +€21,915 | +5.2% |
| Tangible fixed assets | 22/27 | €423,988 | €445,903 | +€21,915 | +5.2% |
| Land and buildings | 22 | €421,717 | €395,845 | -€25,872 | -6.1% |
| Plant, machinery and equipment | 23 | €2,271 | €1,996 | -€275 | -12.1% |
| Furniture and vehicles | 24 | - | €48,062 | +€48,062 | |
| Current assets | 29/58 | €123,402 | €110,463 | -€12,939 | -10.5% |
| Amounts receivable within one year | 40/41 | €72,166 | €46,740 | -€25,426 | -35.2% |
| Trade receivables | 40 | €72,154 | €33,047 | -€39,107 | -54.2% |
| Other amounts receivable | 41 | €13 | €13,693 | +€13,680 | +108,575% |
| Cash at bank and in hand | 54/58 | €49,561 | €63,723 | +€14,162 | +28.6% |
| Deferred charges and accrued income | 490/1 | €1,674 | - | -€1,674 | |
| Total equity and liabilities | 10/49 | €547,389 | €556,366 | +€8,976 | +1.6% |
| Equity | 10/15 | €119,298 | €170,005 | +€50,707 | +42.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Contributions outside capital | 11 | €100,000 | €100,000 | = | 0.0% |
| Share premium | 1100/10 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €19,298 | €70,005 | +€50,707 | +263% |
| Distributable reserves | 133 | €19,298 | €70,005 | +€50,707 | +263% |
| Amounts payable | 17/49 | €428,092 | €386,361 | -€41,731 | -9.7% |
| Amounts payable after more than one year | 17 | €329,336 | €300,461 | -€28,876 | -8.8% |
| Financial debts | 170/4 | €329,336 | €300,461 | -€28,876 | -8.8% |
| Amounts payable within one year | 42/48 | €98,756 | €85,900 | -€12,856 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €28,483 | €28,876 | +€392 | +1.4% |
| Trade debts | 44 | €9,036 | €5,919 | -€3,117 | -34.5% |
| Suppliers | 440/4 | €9,036 | €5,919 | -€3,117 | -34.5% |
| Taxes, remuneration and social security | 45 | €19,057 | €6,566 | -€12,491 | -65.5% |
| Taxes | 450/3 | €17,277 | €5,510 | -€11,767 | -68.1% |
| Remuneration and social security | 454/9 | €1,780 | €1,055 | -€725 | -40.7% |
| Other amounts payable | 47/48 | €42,179 | €44,540 | +€2,361 | +5.6% |
| Remuneration, social security and pensions | 62 | €3,397 | €14,108 | +€10,711 | +315% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,147 | €26,935 | +€788 | +3.0% |
| Other operating charges | 640/8 | €7,480 | €960 | -€6,520 | -87.2% |
| Gross operating margin | 9900 | €89,238 | €113,754 | +€24,516 | +27.5% |
| Operating profit (loss) | 9901 | €52,214 | €71,751 | +€19,538 | +37.4% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €8,464 | €8,065 | -€399 | -4.7% |
| Recurring financial charges | 65 | €8,464 | €8,065 | -€399 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €43,750 | €63,707 | +€19,958 | +45.6% |
| Income taxes | 67/77 | €4,600 | €13,000 | +€8,400 | +183% |
| Profit (loss) for the period | 9904 | €39,150 | €50,707 | +€11,558 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,150 | €50,707 | +€11,558 | +29.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.