SFS GESTIM: 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.
SFS GESTIM
Largest movements
- Tangible fixed assets -€10,285
down €10,285 (-2.9%), from €353,004 to €342,720
of which Land and buildings: -€16,754
- Profit (loss) carried forward -€9,200
down €9,200 (-16.5%), from -€55,753 to -€64,953
- Gross operating margin +€1,549
up €1,549 (+7.6%), from €20,470 to €22,019
- Depreciation +€711
up €711 (+3.1%), from €22,592 to €23,304
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.
Derived cash bridge
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 | €510,940 | €501,071 | -€9,869 | -1.9% |
| Fixed assets | 21/28 | €353,004 | €342,720 | -€10,285 | -2.9% |
| Tangible fixed assets | 22/27 | €353,004 | €342,720 | -€10,285 | -2.9% |
| Land and buildings | 22 | €339,874 | €323,120 | -€16,754 | -4.9% |
| Plant, machinery and equipment | 23 | €13,130 | €19,600 | +€6,470 | +49.3% |
| Current assets | 29/58 | €157,935 | €158,351 | +€416 | +0.3% |
| Amounts receivable within one year | 40/41 | €49 | - | -€49 | |
| Other amounts receivable | 41 | €49 | - | -€49 | |
| Cash at bank and in hand | 54/58 | €157,886 | €158,351 | +€465 | +0.3% |
| Total equity and liabilities | 10/49 | €510,940 | €501,071 | -€9,869 | -1.9% |
| Equity | 10/15 | -€53,893 | -€63,093 | -€9,200 | -17.1% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,753 | -€64,953 | -€9,200 | -16.5% |
| Amounts payable | 17/49 | €564,833 | €564,164 | -€669 | -0.1% |
| Amounts payable within one year | 42/48 | €562,843 | €562,984 | +€142 | 0.0% |
| Trade debts | 44 | €286 | €476 | +€190 | +66.6% |
| Suppliers | 440/4 | €286 | €476 | +€190 | +66.6% |
| Other amounts payable | 47/48 | €562,557 | €562,508 | -€49 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,990 | €1,180 | -€810 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,592 | €23,304 | +€711 | +3.1% |
| Gross operating margin | 9900 | €20,470 | €22,019 | +€1,549 | +7.6% |
| Operating profit (loss) | 9901 | -€2,122 | -€1,285 | +€838 | +39.5% |
| Financial income | 75/76B | €367 | €387 | +€20 | +5.4% |
| Recurring financial income | 75 | €367 | €387 | +€20 | +5.4% |
| Financial charges | 65/66B | €8,306 | €8,302 | -€4 | 0.0% |
| Recurring financial charges | 65 | €8,306 | €8,302 | -€4 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,061 | -€9,200 | +€861 | +8.6% |
| Profit (loss) for the period | 9904 | -€10,061 | -€9,200 | +€861 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,061 | -€9,200 | +€861 | +8.6% |
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 26 October 2026 via checked.be.