SFTM: 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.
SFTM
Largest movements
- Cash +€109,163
up €109,163 (+339.5%), from €32,157 to €141,320
mainly Net result for the year (+€257,390) and Other debts (+€257,377)
- Tangible fixed assets +€102,741
up €102,741 (+261.5%), from €39,285 to €142,026
of which Other tangible fixed assets: +€56,603
- Receivables within one year +€50,379
up €50,379 (+129.9%), from €38,792 to €89,170
of which Trade receivables: +€28,398
- Other debts +€257,377
up €257,377 (+852.2%), from €30,200 to €287,577
- Profit (loss) carried forward -€30,103
down €30,103 (-100.0%), from €30,103 to €0
- Debts after one year +€15,913
up €15,913 (+414.0%), from €3,844 to €19,757
- Tax, wage and social debts +€10,586
up €10,586 (+67.0%), from €15,792 to €26,379
- Trade debts +€5,343
up €5,343 (+95.8%), from €5,579 to €10,922
- Gross operating margin +€341,690
up €341,690 (+1514.2%), from €22,565 to €364,255
- Taxes +€84,849
up €84,849 (+24528.5%), from €346 to €85,195
- Depreciation +€12,353
up €12,353 (+141.9%), from €8,708 to €21,061
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 | €114,862 | €376,211 | +€261,349 | +227.5% |
| Fixed assets | 21/28 | €39,285 | €142,026 | +€102,741 | +261.5% |
| Tangible fixed assets | 22/27 | €39,285 | €142,026 | +€102,741 | +261.5% |
| Land and buildings | 22 | €35,811 | €72,774 | +€36,963 | +103.2% |
| Furniture and vehicles | 24 | €1,791 | €10,966 | +€9,174 | +512.2% |
| Other tangible fixed assets | 26 | €1,683 | €58,287 | +€56,603 | +3362.7% |
| Current assets | 29/58 | €75,577 | €234,185 | +€158,609 | +209.9% |
| Amounts receivable within one year | 40/41 | €38,792 | €89,170 | +€50,379 | +129.9% |
| Trade receivables | 40 | €32,491 | €60,889 | +€28,398 | +87.4% |
| Other amounts receivable | 41 | €6,300 | €28,281 | +€21,981 | +348.9% |
| Cash at bank and in hand | 54/58 | €32,157 | €141,320 | +€109,163 | +339.5% |
| Deferred charges and accrued income | 490/1 | €4,628 | €3,695 | -€932 | -20.1% |
| Total equity and liabilities | 10/49 | €114,862 | €376,211 | +€261,349 | +227.5% |
| Equity | 10/15 | €50,563 | €20,460 | -€30,103 | -59.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,103 | €0 | -€30,103 | -100.0% |
| Amounts payable | 17/49 | €64,298 | €355,751 | +€291,453 | +453.3% |
| Amounts payable after more than one year | 17 | €3,844 | €19,757 | +€15,913 | +414.0% |
| Financial debts | 170/4 | €3,844 | €19,757 | +€15,913 | +414.0% |
| Amounts payable within one year | 42/48 | €57,667 | €335,994 | +€278,328 | +482.6% |
| Current portion of amounts payable after more than one year | 42 | €6,095 | €11,117 | +€5,022 | +82.4% |
| Trade debts | 44 | €5,579 | €10,922 | +€5,343 | +95.8% |
| Suppliers | 440/4 | €5,579 | €10,922 | +€5,343 | +95.8% |
| Taxes, remuneration and social security | 45 | €15,792 | €26,379 | +€10,586 | +67.0% |
| Taxes | 450/3 | €15,792 | €26,379 | +€10,586 | +67.0% |
| Other amounts payable | 47/48 | €30,200 | €287,577 | +€257,377 | +852.2% |
| Accrued charges and deferred income | 492/3 | €2,788 | €0 | -€2,788 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,708 | €21,061 | +€12,353 | +141.9% |
| Other operating charges | 640/8 | €374 | €480 | +€106 | +28.3% |
| Gross operating margin | 9900 | €22,565 | €364,255 | +€341,690 | +1514.2% |
| Operating profit (loss) | 9901 | €13,484 | €342,714 | +€329,231 | +2441.7% |
| Financial income | 75/76B | €6 | €849 | +€843 | +14711.2% |
| Recurring financial income | 75 | €6 | €849 | +€843 | +14711.2% |
| Financial charges | 65/66B | €3,447 | €978 | -€2,468 | -71.6% |
| Recurring financial charges | 65 | €3,447 | €978 | -€2,468 | -71.6% |
| Profit (loss) for the period before taxes | 9903 | €10,043 | €342,584 | +€332,542 | +3311.3% |
| Income taxes | 67/77 | €346 | €85,195 | +€84,849 | +24528.5% |
| Profit (loss) for the period | 9904 | €9,697 | €257,390 | +€247,693 | +2554.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,697 | €257,390 | +€247,693 | +2554.4% |
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 1 October 2026 via checked.be.