SNF SOLAR PROJECTS: 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 SOLAR PROJECTS
Largest movements
- Receivables within one year +€130,585
up €130,585 (+86.6%), from €150,851 to €281,436
of which Other amounts receivable: +€120,066
- Cash -€75,671
down €75,671 (-39.6%), from €191,292 to €115,621
mainly Receivables within one year (-€130,585) and Investment in fixed assets (net) (-€40,990)
- Tangible fixed assets -€18,153
down €18,153 (-3.5%), from €515,515 to €497,362
of which Land and buildings: -€12,167
- Profit (loss) carried forward +€65,901
up €65,901 (+14.7%), from €447,258 to €513,159
- Debts after one year -€39,051
down €39,051 (-15.7%), from €249,061 to €210,010
- Tax, wage and social debts +€26,840
up €26,840 (+34.6%), from €77,478 to €104,317
of which Remuneration and social security: +€31,570
- Trade debts -€22,083
down €22,083 (-79.8%), from €27,662 to €5,579
- Staff costs +€40,210
up €40,210 (+10.9%), from €368,877 to €409,087
- Gross operating margin -€26,145
down €26,145 (-4.2%), from €617,537 to €591,393
- Taxes -€18,054
down €18,054 (-32.8%), from €55,085 to €37,030
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 | €880,010 | €910,831 | +€30,821 | +3.5% |
| Fixed assets | 21/28 | €515,515 | €497,362 | -€18,153 | -3.5% |
| Tangible fixed assets | 22/27 | €515,515 | €497,362 | -€18,153 | -3.5% |
| Land and buildings | 22 | €428,151 | €415,983 | -€12,167 | -2.8% |
| Plant, machinery and equipment | 23 | €29,264 | €26,021 | -€3,243 | -11.1% |
| Furniture and vehicles | 24 | €55,959 | €53,216 | -€2,743 | -4.9% |
| Other tangible fixed assets | 26 | €2,142 | €2,142 | = | 0.0% |
| Current assets | 29/58 | €364,495 | €413,469 | +€48,974 | +13.4% |
| Amounts receivable within one year | 40/41 | €150,851 | €281,436 | +€130,585 | +86.6% |
| Trade receivables | 40 | €30,694 | €41,213 | +€10,519 | +34.3% |
| Other amounts receivable | 41 | €120,157 | €240,222 | +€120,066 | +99.9% |
| Cash at bank and in hand | 54/58 | €191,292 | €115,621 | -€75,671 | -39.6% |
| Deferred charges and accrued income | 490/1 | €22,352 | €16,412 | -€5,940 | -26.6% |
| Total equity and liabilities | 10/49 | €880,010 | €910,831 | +€30,821 | +3.5% |
| Equity | 10/15 | €465,858 | €531,759 | +€65,901 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €447,258 | €513,159 | +€65,901 | +14.7% |
| Amounts payable | 17/49 | €414,152 | €379,072 | -€35,080 | -8.5% |
| Amounts payable after more than one year | 17 | €249,061 | €210,010 | -€39,051 | -15.7% |
| Financial debts | 170/4 | €249,061 | €210,010 | -€39,051 | -15.7% |
| Amounts payable within one year | 42/48 | €165,091 | €169,062 | +€3,972 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €59,951 | €59,166 | -€785 | -1.3% |
| Trade debts | 44 | €27,662 | €5,579 | -€22,083 | -79.8% |
| Suppliers | 440/4 | €27,662 | €5,579 | -€22,083 | -79.8% |
| Taxes, remuneration and social security | 45 | €77,478 | €104,317 | +€26,840 | +34.6% |
| Taxes | 450/3 | €69,530 | €64,800 | -€4,730 | -6.8% |
| Remuneration and social security | 454/9 | €7,948 | €39,517 | +€31,570 | +397% |
| Remuneration, social security and pensions | 62 | €368,877 | €409,087 | +€40,210 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,114 | €59,143 | +€3,029 | +5.4% |
| Other operating charges | 640/8 | €26,295 | €26,846 | +€551 | +2.1% |
| Non-recurring operating charges | 66A | - | €3,500 | +€3,500 | |
| Gross operating margin | 9900 | €617,537 | €591,393 | -€26,145 | -4.2% |
| Operating profit (loss) | 9901 | €166,252 | €92,817 | -€73,434 | -44.2% |
| Financial income | 75/76B | €16,020 | €15,931 | -€89 | -0.6% |
| Recurring financial income | 75 | €16,020 | €15,931 | -€89 | -0.6% |
| Financial charges | 65/66B | €6,070 | €5,818 | -€253 | -4.2% |
| Recurring financial charges | 65 | €6,070 | €5,818 | -€253 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €176,201 | €102,931 | -€73,270 | -41.6% |
| Income taxes | 67/77 | €55,085 | €37,030 | -€18,054 | -32.8% |
| Profit (loss) for the period | 9904 | €121,116 | €65,901 | -€55,216 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,116 | €65,901 | -€55,216 | -45.6% |
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 17 October 2026 via checked.be.