SNF: 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.
SNF
Largest movements
- Financial fixed assets +€501,545
up €501,545 (+76,153%), from €659 to €502,204
of which Affiliated companies: +€501,545
- Cash -€445,985
down €445,985 (-81.8%), from €545,363 to €99,378
mainly Investment in fixed assets (net) (-€505,662) and Debts after one year (-€348,501)
- Tangible fixed assets -€239,794
down €239,794 (-7.8%), from €3.1m to €2.8m
- Receivables within one year -€134,466
down €134,466 (-41.4%), from €324,845 to €190,380
of which Trade receivables: -€93,213
- Debts after one year -€348,501
down €348,501 (-8.1%), from €4.3m to €4.0m
of which Financial debts: -€337,751
- Profit (loss) carried forward +€111,998
up €111,998 (+10.1%), from -€1.1m to -€999,542
- Trade debts -€66,283
down €66,283 (-52.9%), from €125,206 to €58,923
- Turnover +€100,305
up €100,305 (+22.2%), from €451,506 to €551,811
- Other operating charges +€58,903
up €58,903 (+179%), from €32,816 to €91,719
- Other operating income +€30,188
up €30,188 (+50.5%), from €59,773 to €89,961
- Services and other goods -€23,939
down €23,939 (-17.6%), from €136,286 to €112,347
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 | €3,937,871 | €3,619,171 | -€318,700 | -8.1% |
| Fixed assets | 21/28 | €3,067,662 | €3,329,413 | +€261,751 | +8.5% |
| Tangible fixed assets | 22/27 | €3,067,003 | €2,827,209 | -€239,794 | -7.8% |
| Land and buildings | 22 | €3,067,003 | €2,827,209 | -€239,794 | -7.8% |
| Financial fixed assets | 28 | €659 | €502,204 | +€501,545 | +76,153% |
| Affiliated companies | 280/1 | - | €501,545 | +€501,545 | |
| Amounts receivable | 281 | - | €501,545 | +€501,545 | |
| Other financial fixed assets | 284/8 | €659 | €659 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €659 | €659 | = | 0.0% |
| Current assets | 29/58 | €870,209 | €289,758 | -€580,451 | -66.7% |
| Amounts receivable within one year | 40/41 | €324,845 | €190,380 | -€134,466 | -41.4% |
| Trade receivables | 40 | €283,592 | €190,380 | -€93,213 | -32.9% |
| Other amounts receivable | 41 | €41,253 | - | -€41,253 | |
| Cash at bank and in hand | 54/58 | €545,363 | €99,378 | -€445,985 | -81.8% |
| Total equity and liabilities | 10/49 | €3,937,871 | €3,619,171 | -€318,700 | -8.1% |
| Equity | 10/15 | -€1,049,540 | -€937,542 | +€111,998 | +10.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,111,540 | -€999,542 | +€111,998 | +10.1% |
| Provisions and deferred taxes | 16 | €140,693 | €151,837 | +€11,144 | +7.9% |
| Provisions for liabilities and charges | 160/5 | €140,693 | €151,837 | +€11,144 | +7.9% |
| Major repairs and maintenance | 162 | €140,693 | €151,837 | +€11,144 | +7.9% |
| Amounts payable | 17/49 | €4,846,718 | €4,404,876 | -€441,842 | -9.1% |
| Amounts payable after more than one year | 17 | €4,316,991 | €3,968,490 | -€348,501 | -8.1% |
| Financial debts | 170/4 | €4,297,381 | €3,959,629 | -€337,751 | -7.9% |
| Credit institutions | 173 | €4,297,381 | €3,959,629 | -€337,751 | -7.9% |
| Other amounts payable | 178/9 | €19,610 | €8,860 | -€10,750 | -54.8% |
| Amounts payable within one year | 42/48 | €523,517 | €430,619 | -€92,898 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €359,854 | €365,654 | +€5,800 | +1.6% |
| Trade debts | 44 | €125,206 | €58,923 | -€66,283 | -52.9% |
| Suppliers | 440/4 | €125,206 | €58,923 | -€66,283 | -52.9% |
| Taxes, remuneration and social security | 45 | €38,457 | €6,042 | -€32,415 | -84.3% |
| Taxes | 450/3 | €38,457 | €6,042 | -€32,415 | -84.3% |
| Accrued charges and deferred income | 492/3 | €6,210 | €5,767 | -€443 | -7.1% |
| Operating income | 70/76A | €511,279 | €641,772 | +€130,493 | +25.5% |
| Turnover | 70 | €451,506 | €551,811 | +€100,305 | +22.2% |
| Other operating income | 74 | €59,773 | €89,961 | +€30,188 | +50.5% |
| Operating charges | 60/66A | €423,997 | €459,120 | +€35,123 | +8.3% |
| Services and other goods | 61 | €136,286 | €112,347 | -€23,939 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,751 | €243,910 | +€160 | +0.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €11,144 | €11,144 | = | 0.0% |
| Other operating charges | 640/8 | €32,816 | €91,719 | +€58,903 | +179% |
| Operating profit (loss) | 9901 | €87,282 | €182,652 | +€95,370 | +109% |
| Financial income | 75/76B | €25 | €1,945 | +€1,920 | +7,608% |
| Recurring financial income | 75 | €25 | €1,945 | +€1,920 | +7,608% |
| Other financial income | 752/9 | €25 | €1,945 | +€1,920 | +7,608% |
| Financial charges | 65/66B | €77,748 | €72,600 | -€5,148 | -6.6% |
| Recurring financial charges | 65 | €77,748 | €72,600 | -€5,148 | -6.6% |
| Debt charges | 650 | €76,918 | €71,646 | -€5,272 | -6.9% |
| Other financial charges | 652/9 | €829 | €954 | +€125 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €9,559 | €111,998 | +€102,438 | +1,072% |
| Profit (loss) for the period | 9904 | €9,559 | €111,998 | +€102,438 | +1,072% |
| Profit (loss) for the period to be appropriated | 9905 | €9,559 | €111,998 | +€102,438 | +1,072% |
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 14 October 2026 via checked.be.