SFM+: 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.
SFM+
Largest movements
- Receivables within one year -€51,065
down €51,065 (-29.9%), from €170,634 to €119,569
of which Trade receivables: -€66,829
- Tangible fixed assets -€14,862
down €14,862 (-20.2%), from €73,651 to €58,789
of which Leasing and similar rights: -€14,502
- Cash +€11,397
up €11,397 (+95.3%), from €11,954 to €23,351
mainly Net result for the year (+€68,952) and Receivables within one year (+€51,065)
- Other debts -€105,827
no longer reported in 2024 (was €105,827)
- Profit (loss) carried forward +€68,952
up €68,952 (+47.1%), from €146,309 to €215,261
- Tax, wage and social debts +€11,000
up €11,000 (+56.0%), from €19,630 to €30,630
- Debts after one year -€10,295
down €10,295 (-37.9%), from €27,186 to €16,891
- Trade debts -€9,230
down €9,230 (-34.7%), from €26,604 to €17,374
- Financial income +€50,136
new in 2024: €50,136
of which Financial income: +€50,136
- Gross operating margin +€27,425
up €27,425 (+157.3%), from €17,431 to €44,856
- Depreciation +€14,796
up €14,796 (+22418.2%), from €66 to €14,862
- Taxes +€3,670
up €3,670 (+88.9%), from €4,130 to €7,800
- Other operating charges +€1,245
up €1,245 (+336.5%), from €370 to €1,615
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €371,239 | €316,709 | -€54,530 | -14.7% |
| Fixed assets | 21/28 | €188,651 | €173,789 | -€14,862 | -7.9% |
| Tangible fixed assets | 22/27 | €73,651 | €58,789 | -€14,862 | -20.2% |
| Plant, machinery and equipment | 23 | €1,240 | €946 | -€294 | -23.7% |
| Furniture and vehicles | 24 | €97 | €31 | -€66 | -68.0% |
| Leasing and similar rights | 25 | €72,314 | €57,812 | -€14,502 | -20.1% |
| Financial fixed assets | 28 | €115,000 | €115,000 | = | 0.0% |
| Current assets | 29/58 | €182,588 | €142,920 | -€39,668 | -21.7% |
| Amounts receivable within one year | 40/41 | €170,634 | €119,569 | -€51,065 | -29.9% |
| Trade receivables | 40 | €137,509 | €70,680 | -€66,829 | -48.6% |
| Other amounts receivable | 41 | €33,125 | €48,889 | +€15,764 | +47.6% |
| Cash at bank and in hand | 54/58 | €11,954 | €23,351 | +€11,397 | +95.3% |
| Total equity and liabilities | 10/49 | €371,239 | €316,709 | -€54,530 | -14.7% |
| Equity | 10/15 | €166,769 | €235,721 | +€68,952 | +41.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,309 | €215,261 | +€68,952 | +47.1% |
| Amounts payable | 17/49 | €204,470 | €80,988 | -€123,482 | -60.4% |
| Amounts payable after more than one year | 17 | €27,186 | €16,891 | -€10,295 | -37.9% |
| Financial debts | 170/4 | €27,186 | €16,891 | -€10,295 | -37.9% |
| Amounts payable within one year | 42/48 | €177,284 | €64,097 | -€113,187 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €10,295 | €10,295 | = | 0.0% |
| Financial debts | 43 | €14,928 | €5,798 | -€9,130 | -61.2% |
| Credit institutions | 430/8 | €14,928 | €5,798 | -€9,130 | -61.2% |
| Trade debts | 44 | €26,604 | €17,374 | -€9,230 | -34.7% |
| Suppliers | 440/4 | €26,604 | €17,374 | -€9,230 | -34.7% |
| Taxes, remuneration and social security | 45 | €19,630 | €30,630 | +€11,000 | +56.0% |
| Taxes | 450/3 | €19,630 | €30,630 | +€11,000 | +56.0% |
| Other amounts payable | 47/48 | €105,827 | - | -€105,827 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66 | €14,862 | +€14,796 | +22418.2% |
| Other operating charges | 640/8 | €370 | €1,615 | +€1,245 | +336.5% |
| Gross operating margin | 9900 | €17,431 | €44,856 | +€27,425 | +157.3% |
| Operating profit (loss) | 9901 | €16,995 | €28,379 | +€11,384 | +67.0% |
| Financial income | 75/76B | - | €50,136 | +€50,136 | |
| Recurring financial income | 75 | - | €50,136 | +€50,136 | |
| Non-recurring financial income | 76B | - | €50,136 | +€50,136 | |
| Financial charges | 65/66B | €1,527 | €1,763 | +€236 | +15.5% |
| Recurring financial charges | 65 | €1,527 | €1,763 | +€236 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €15,468 | €76,752 | +€61,284 | +396.2% |
| Income taxes | 67/77 | €4,130 | €7,800 | +€3,670 | +88.9% |
| Profit (loss) for the period | 9904 | €11,338 | €68,952 | +€57,614 | +508.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,338 | €68,952 | +€57,614 | +508.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.