While we empathize with investors who find debt concerning, you should keep in mind that SFC Energy has net cash of €46.2m, as well as more liquid assets than liabilities. So we are not troubled with SFC Energy's debt use. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet - far from it. For instance, we've identified 3 warning signs for SFC Energy (1 is a bit concerning) you should be aware of.