SFO Waterloo: 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.
SFO Waterloo
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+71.4%), from €1.4m to €2.5m
- Cash -€90,944
down €90,944 (-60.0%), from €151,554 to €60,610
mainly Investment in fixed assets (net) (-€1.1m) and Debts after one year (-€69,719)
- Revaluation surpluses +€1.0m
new in 2025: €1.0m
- Debts after one year -€69,719
down €69,719 (-6.6%), from €1.1m to €992,175
- Depreciation +€12,997
up €12,997 (+16.9%), from €76,788 to €89,785
- Other operating charges +€4,620
up €4,620 (+16.6%), from €27,780 to €32,399
- Financial charges -€2,639
down €2,639 (-5.6%), from €46,987 to €44,348
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 | €1,596,107 | €2,543,070 | +€946,963 | +59.3% |
| Fixed assets | 21/28 | €1,444,384 | €2,475,000 | +€1.0m | +71.4% |
| Tangible fixed assets | 22/27 | €1,444,384 | €2,475,000 | +€1.0m | +71.4% |
| Land and buildings | 22 | €1,444,384 | €2,475,000 | +€1.0m | +71.4% |
| Current assets | 29/58 | €151,723 | €68,070 | -€83,653 | -55.1% |
| Amounts receivable within one year | 40/41 | - | €6,369 | +€6,369 | |
| Other amounts receivable | 41 | - | €6,369 | +€6,369 | |
| Cash at bank and in hand | 54/58 | €151,554 | €60,610 | -€90,944 | -60.0% |
| Deferred charges and accrued income | 490/1 | €169 | €1,091 | +€922 | +546.1% |
| Total equity and liabilities | 10/49 | €1,596,107 | €2,543,070 | +€946,963 | +59.3% |
| Equity | 10/15 | €467,231 | €1,466,116 | +€998,885 | +213.8% |
| Contributions | 10/11 | €407,580 | €407,580 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,012,673 | +€1.0m | |
| Profit (loss) carried forward | 14 | €59,652 | €45,863 | -€13,788 | -23.1% |
| Amounts payable | 17/49 | €1,128,876 | €1,076,953 | -€51,922 | -4.6% |
| Amounts payable after more than one year | 17 | €1,061,893 | €992,175 | -€69,719 | -6.6% |
| Financial debts | 170/4 | €1,061,893 | €992,175 | -€69,719 | -6.6% |
| Amounts payable within one year | 42/48 | €66,983 | €81,211 | +€14,229 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €66,983 | €75,403 | +€8,421 | +12.6% |
| Trade debts | 44 | - | €5,808 | +€5,808 | |
| Suppliers | 440/4 | - | €5,808 | +€5,808 | |
| Accrued charges and deferred income | 492/3 | - | €3,567 | +€3,567 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,788 | €89,785 | +€12,997 | +16.9% |
| Other operating charges | 640/8 | €27,780 | €32,399 | +€4,620 | +16.6% |
| Gross operating margin | 9900 | €153,558 | €152,744 | -€814 | -0.5% |
| Operating profit (loss) | 9901 | €48,990 | €30,560 | -€18,431 | -37.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €46,987 | €44,348 | -€2,639 | -5.6% |
| Recurring financial charges | 65 | €46,987 | €44,348 | -€2,639 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €2,004 | -€13,788 | -€15,792 | |
| Profit (loss) for the period | 9904 | €2,004 | -€13,788 | -€15,792 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,004 | -€13,788 | -€15,792 |
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 4 October 2026 via checked.be.