SFM CONSTRUCTION: 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 CONSTRUCTION
Largest movements
- Receivables within one year -€42,322
down €42,322 (-19.6%), from €215,682 to €173,360
of which Trade receivables: -€67,508
- Tangible fixed assets -€17,499
down €17,499 (-33.4%), from €52,381 to €34,882
of which Furniture and vehicles: -€15,974
- Cash -€5,273
down €5,273 (-93.4%), from €5,646 to €373
mainly Trade debts (-€122,742) and Debts after one year (-€14,140)
- Trade debts -€122,742
down €122,742 (-63.3%), from €193,907 to €71,165
- Reserves +€36,221
up €36,221 (+167.6%), from €21,611 to €57,832
- Short-term financial debts +€23,099
up €23,099 (+257.6%), from €8,968 to €32,067
- Tax, wage and social debts +€21,638
up €21,638 (+3510.1%), from €616 to €22,254
- Debts after one year -€14,140
down €14,140 (-53.9%), from €26,212 to €12,072
- Gross operating margin +€11,933
up €11,933 (+21.5%), from €55,433 to €67,366
- Taxes +€4,022
up €4,022 (+54.6%), from €7,363 to €11,385
- Write-downs -€2,690
down €2,690, from €1,345 to -€1,345
- Financial income +€1,856
up €1,856 (+93.0%), from €1,995 to €3,852
- Other operating charges +€1,272
up €1,272 (+76.5%), from €1,663 to €2,935
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 | €279,575 | €215,264 | -€64,311 | -23.0% |
| Fixed assets | 21/28 | €52,381 | €34,882 | -€17,499 | -33.4% |
| Tangible fixed assets | 22/27 | €52,381 | €34,882 | -€17,499 | -33.4% |
| Plant, machinery and equipment | 23 | €9,079 | €7,554 | -€1,525 | -16.8% |
| Furniture and vehicles | 24 | €43,302 | €27,328 | -€15,974 | -36.9% |
| Current assets | 29/58 | €227,194 | €180,382 | -€46,812 | -20.6% |
| Stocks and contracts in progress | 3 | €5,816 | €6,123 | +€307 | +5.3% |
| Stocks | 30/36 | €5,816 | €6,123 | +€307 | +5.3% |
| Amounts receivable within one year | 40/41 | €215,682 | €173,360 | -€42,322 | -19.6% |
| Trade receivables | 40 | €195,257 | €127,749 | -€67,508 | -34.6% |
| Other amounts receivable | 41 | €20,425 | €45,611 | +€25,186 | +123.3% |
| Cash at bank and in hand | 54/58 | €5,646 | €373 | -€5,273 | -93.4% |
| Deferred charges and accrued income | 490/1 | €50 | €525 | +€476 | +955.4% |
| Total equity and liabilities | 10/49 | €279,575 | €215,264 | -€64,311 | -23.0% |
| Equity | 10/15 | €26,111 | €62,332 | +€36,221 | +138.7% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €21,611 | €57,832 | +€36,221 | +167.6% |
| Distributable reserves | 133 | €21,611 | €57,832 | +€36,221 | +167.6% |
| Amounts payable | 17/49 | €253,464 | €152,932 | -€100,532 | -39.7% |
| Amounts payable after more than one year | 17 | €26,212 | €12,072 | -€14,140 | -53.9% |
| Financial debts | 170/4 | €26,212 | €12,072 | -€14,140 | -53.9% |
| Amounts payable within one year | 42/48 | €227,186 | €139,709 | -€87,477 | -38.5% |
| Current portion of amounts payable after more than one year | 42 | €14,994 | €14,140 | -€854 | -5.7% |
| Financial debts | 43 | €8,968 | €32,067 | +€23,099 | +257.6% |
| Credit institutions | 430/8 | €8,968 | €32,067 | +€23,099 | +257.6% |
| Trade debts | 44 | €193,907 | €71,165 | -€122,742 | -63.3% |
| Suppliers | 440/4 | €193,907 | €71,165 | -€122,742 | -63.3% |
| Taxes, remuneration and social security | 45 | €616 | €22,254 | +€21,638 | +3510.1% |
| Taxes | 450/3 | €616 | €22,254 | +€21,638 | +3510.1% |
| Other amounts payable | 47/48 | €8,700 | €83 | -€8,617 | -99.0% |
| Accrued charges and deferred income | 492/3 | €66 | €1,151 | +€1,085 | +1651.9% |
| Non-recurring operating income | 76A | €4,500 | - | -€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,530 | €19,297 | -€1,233 | -6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,345 | -€1,345 | -€2,690 | |
| Other operating charges | 640/8 | €1,663 | €2,935 | +€1,272 | +76.5% |
| Gross operating margin | 9900 | €55,433 | €67,366 | +€11,933 | +21.5% |
| Operating profit (loss) | 9901 | €31,895 | €46,479 | +€14,584 | +45.7% |
| Financial income | 75/76B | €1,995 | €3,852 | +€1,856 | +93.0% |
| Recurring financial income | 75 | €1,995 | €3,852 | +€1,856 | +93.0% |
| Financial charges | 65/66B | €1,742 | €2,725 | +€983 | +56.4% |
| Recurring financial charges | 65 | €1,742 | €2,725 | +€983 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €32,149 | €47,606 | +€15,458 | +48.1% |
| Income taxes | 67/77 | €7,363 | €11,385 | +€4,022 | +54.6% |
| Profit (loss) for the period | 9904 | €24,785 | €36,221 | +€11,435 | +46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,785 | €36,221 | +€11,435 | +46.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.