SIFACO GROUP: 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.
What changed
SIFACO GROUP
NACE 12.000, Manufacture of tobacco products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€14.9m
2024 · €15.5m-€626,307
Equity
€25.5m
2024 · €25.1m+€462,150
Cash
€5.5m
2024 · €4.5m+€1.0m
Balance sheet total
€37.9m
2024 · €37.9m-€33,139
Largest movements
Assets
- Cash +€1.0m
up €1.0m (+22.9%), from €4.5m to €5.5m
mainly Net result for the year (+€14.9m) and Depreciation (+€1.6m)
- Receivables within one year -€694,230
down €694,230 (-10.1%), from €6.8m to €6.1m
of which Trade receivables: -€515,737
- Tangible fixed assets -€613,349
down €613,349 (-6.4%), from €9.6m to €9.0m
of which Plant, machinery and equipment: -€743,321
Equity and liabilities
- Provisions +€550,000
new in 2025: €550,000
- Current portion of long-term debt -€465,701
down €465,701 (-86.7%), from €537,142 to €71,441
- Tax, wage and social debts -€455,034
down €455,034 (-34.4%), from €1.3m to €868,520
of which Taxes: -€297,735
Income statement
- Turnover -€1.0m
down €1.0m (-2.9%), from €36.0m to €35.0m
- Provisions +€550,000
new in 2025: €550,000
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.
Result 2024
€15.5m
Turnover
-€1.0m
Other operating income
-€23,348
Goods and materials
-€78,478
Services and other goods
+€360,075
Staff costs
+€274,239
Depreciation
-€283,071
Write-downs
-€4,418
Provisions
-€550,000
Other operating charges
+€11,141
Other operating items
+€464,833
Financial income
-€13,027
Financial charges
-€13,838
Taxes
+€277,504
Result 2025
€14.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€17.0m
Investment
-€966,075
Financing
-€15.0m
Cash 2024
€4.5m
From operations (derived)
+€17.0m
Net result for the year
+€14.9m
Depreciation
+€1.6m
Stocks and contracts
-€246,319
Receivables within one year
+€694,230
Smaller working-capital items
-€11,879
Provisions
+€550,000
Trade debts
-€341,075
Tax, wage and social debts
-€455,034
Other debts
+€289,231
Investment (derived)
-€966,075
Investment in fixed assets (net)
-€966,075
Financing
-€15.0m
Debts after one year
-€71,440
Current portion of long-term debt
-€465,701
Contributions, distributions and other
-€14.4m
Cash 2025
€5.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,898,829 | €37,865,691 | -€33,139 | -0.1% |
| Fixed assets | 21/28 | €19,420,043 | €18,801,394 | -€618,649 | -3.2% |
| Tangible fixed assets | 22/27 | €9,601,652 | €8,988,303 | -€613,349 | -6.4% |
| Land and buildings | 22 | €2,755,586 | €2,582,032 | -€173,554 | -6.3% |
| Plant, machinery and equipment | 23 | €6,702,762 | €5,959,441 | -€743,321 | -11.1% |
| Furniture and vehicles | 24 | €143,304 | €446,830 | +€303,526 | +212% |
| Financial fixed assets | 28 | €9,818,391 | €9,813,091 | -€5,300 | -0.1% |
| Affiliated companies | 280/1 | €9,800,000 | €9,800,000 | = | 0.0% |
| Participating interests | 280 | €9,800,000 | €9,800,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €18,391 | €13,091 | -€5,300 | -28.8% |
| Amounts receivable and cash guarantees | 285/8 | €18,391 | €13,091 | -€5,300 | -28.8% |
| Current assets | 29/58 | €18,478,786 | €19,064,297 | +€585,511 | +3.2% |
| Stocks and contracts in progress | 3 | €3,154,283 | €3,400,602 | +€246,319 | +7.8% |
| Stocks | 30/36 | €3,154,283 | €3,400,602 | +€246,319 | +7.8% |
| Raw materials and consumables | 30/31 | €2,987,114 | €3,230,033 | +€242,919 | +8.1% |
| Finished goods | 33 | €167,169 | €170,569 | +€3,400 | +2.0% |
| Amounts receivable within one year | 40/41 | €6,840,280 | €6,146,050 | -€694,230 | -10.1% |
| Trade receivables | 40 | €5,951,054 | €5,435,317 | -€515,737 | -8.7% |
| Other amounts receivable | 41 | €889,226 | €710,733 | -€178,493 | -20.1% |
| Current investments | 50/53 | €4,000,000 | €4,000,000 | = | 0.0% |
| Other investments | 51/53 | €4,000,000 | €4,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,458,654 | €5,481,466 | +€1.0m | +22.9% |
| Deferred charges and accrued income | 490/1 | €25,569 | €36,179 | +€10,610 | +41.5% |
| Total equity and liabilities | 10/49 | €37,898,829 | €37,865,691 | -€33,139 | -0.1% |
| Equity | 10/15 | €25,052,492 | €25,514,642 | +€462,150 | +1.8% |
| Contributions | 10/11 | €18,500,000 | €18,500,000 | = | 0.0% |
| Capital | 10 | €18,500,000 | €18,500,000 | = | 0.0% |
| Issued capital | 100 | €18,500,000 | €18,500,000 | = | 0.0% |
| Reserves | 13 | €1,850,000 | €1,850,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,850,000 | €1,850,000 | = | 0.0% |
| Legal reserve | 130 | €1,850,000 | €1,850,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,532,992 | €4,642,392 | +€109,400 | +2.4% |
| Investment grants | 15 | €169,500 | €522,250 | +€352,750 | +208% |
| Provisions and deferred taxes | 16 | - | €550,000 | +€550,000 | |
| Provisions for liabilities and charges | 160/5 | - | €550,000 | +€550,000 | |
| Other liabilities and charges | 164/5 | - | €550,000 | +€550,000 | |
| Amounts payable | 17/49 | €12,846,337 | €11,801,048 | -€1.0m | -8.1% |
| Amounts payable after more than one year | 17 | €71,440 | - | -€71,440 | |
| Financial debts | 170/4 | €71,440 | - | -€71,440 | |
| Credit institutions | 173 | €71,440 | - | -€71,440 | |
| Amounts payable within one year | 42/48 | €12,772,818 | €11,800,238 | -€972,580 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €537,142 | €71,441 | -€465,701 | -86.7% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €1,132,750 | €791,675 | -€341,075 | -30.1% |
| Suppliers | 440/4 | €1,132,750 | €791,675 | -€341,075 | -30.1% |
| Taxes, remuneration and social security | 45 | €1,323,554 | €868,520 | -€455,034 | -34.4% |
| Taxes | 450/3 | €780,681 | €482,946 | -€297,735 | -38.1% |
| Remuneration and social security | 454/9 | €542,873 | €385,574 | -€157,299 | -29.0% |
| Other amounts payable | 47/48 | €9,779,372 | €10,068,603 | +€289,231 | +3.0% |
| Accrued charges and deferred income | 492/3 | €2,079 | €810 | -€1,269 | -61.1% |
| Operating income | 70/76A | €36,027,605 | €35,083,146 | -€944,459 | -2.6% |
| Turnover | 70 | €36,031,378 | €34,983,458 | -€1.0m | -2.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€128,140 | €3,400 | +€131,540 | |
| Other operating income | 74 | €119,434 | €96,086 | -€23,348 | -19.5% |
| Non-recurring operating income | 76A | €4,933 | €202 | -€4,731 | -95.9% |
| Operating charges | 60/66A | €15,386,699 | €15,319,187 | -€67,512 | -0.4% |
| Goods for resale, raw materials and consumables | 60 | €2,351,363 | €2,429,841 | +€78,478 | +3.3% |
| Purchases | 600/8 | €2,262,544 | €2,672,760 | +€410,216 | +18.1% |
| Change in stocks: decrease (increase) | 609 | €88,819 | -€242,919 | -€331,738 | |
| Services and other goods | 61 | €7,755,410 | €7,395,335 | -€360,075 | -4.6% |
| Remuneration, social security and pensions | 62 | €3,538,104 | €3,263,865 | -€274,239 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,301,654 | €1,584,725 | +€283,071 | +21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,418 | +€4,418 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €550,000 | +€550,000 | |
| Other operating charges | 640/8 | €101,408 | €90,267 | -€11,141 | -11.0% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | €338,760 | €736 | -€338,024 | -99.8% |
| Operating profit (loss) | 9901 | €20,640,906 | €19,763,959 | -€876,947 | -4.2% |
| Financial income | 75/76B | €348,526 | €335,499 | -€13,027 | -3.7% |
| Recurring financial income | 75 | €348,526 | €335,499 | -€13,027 | -3.7% |
| Other financial income | 752/9 | €348,526 | €335,499 | -€13,027 | -3.7% |
| Financial charges | 65/66B | €207,540 | €221,378 | +€13,838 | +6.7% |
| Recurring financial charges | 65 | €207,540 | €221,378 | +€13,838 | +6.7% |
| Debt charges | 650 | €202,703 | €5,312 | -€197,391 | -97.4% |
| Other financial charges | 652/9 | €4,837 | €216,066 | +€211,229 | +4,367% |
| Profit (loss) for the period before taxes | 9903 | €20,781,892 | €19,878,081 | -€903,811 | -4.3% |
| Income taxes | 67/77 | €5,252,433 | €4,974,929 | -€277,504 | -5.3% |
| Taxes | 670/3 | €5,253,110 | €5,066,634 | -€186,476 | -3.5% |
| Tax adjustments and reversals of tax provisions | 77 | €677 | €91,705 | +€91,028 | +13,446% |
| Profit (loss) for the period | 9904 | €15,529,459 | €14,903,152 | -€626,307 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,529,459 | €14,903,152 | -€626,307 | -4.0% |
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 20 October 2026 via checked.be.