SOLTECH
Annual accounts 2025
full format, filed on 15-07-2026, 16 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €1.8m. Estimated: probably between €1.2m and €3.0m.
Balance sheet
balance sheet total €10.9m on 31-12-2025in €m
in €m
Position in the sector
9.7%
Higher than 16% of 172 companies in 2025.
1.08
Higher than 18% of 169 companies in 2025.
-30.5%
Higher than 12% of 171 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff
€65,384
Staff costs divided by the average number of full-time equivalents.
-8 people
In 2025, 14 people joined and 22 left. Training hours in 2025: 57.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
10.9m | 11.3m | 9.3m | 3.6m | |
21/28 |
7.1m | 7.9m | 5.7m | 1.3m | |
21 |
2.6m | 2.7m | 1.6m | 324,876 | |
22/27 |
4.2m | 4.9m | 3.7m | 970,332 | |
23 |
2.6m | 3.1m | 2.0m | 156,133 | |
24 |
34,325 | 63,759 | 87,683 | 12,885 | |
25 |
1.5m | 848,806 | 444,451 | 50,451 | |
26 |
107,903 | 128,738 | 103,639 | 3,674 | |
27 |
- | 819,679 | 1.1m | 747,189 | |
28 |
325,000 | 325,000 | 325,000 | - | |
29/58 |
3.7m | 3.4m | 3.6m | 2.3m | |
3 |
661,696 | 695,338 | 789,343 | 242,877 | |
30/36 |
661,696 | 695,338 | 789,343 | 242,877 | |
40/41 |
2.5m | 2.6m | 2.2m | 1.8m | |
40 |
1.6m | 1.2m | 983,757 | 765,101 | |
41 |
935,439 | 1.3m | 1.2m | 1.0m | |
54/58 |
487,903 | 6,576 | 446,169 | 239,469 | |
490/1 |
69,229 | 135,996 | 135,848 | 34,652 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
10.9m | 11.3m | 9.3m | 3.6m | |
10/15 |
1.1m | 1.4m | 1.8m | 1.4m | |
10/11 |
3.0m | 2.8m | 1.2m | 1.2m | |
10 |
3.0m | 2.8m | 1.2m | 1.2m | |
100 |
3.0m | 2.8m | 1.2m | 1.2m | |
12 |
582,487 | 728,212 | 728,212 | - | |
13 |
145,725 | - | - | - | |
133 |
145,725 | - | - | - | |
14 |
-3.0m | -2.6m | -715,932 | -334,401 | |
15 |
352,318 | 463,116 | 570,242 | 531,040 | |
17/49 |
9.8m | 9.9m | 7.5m | 2.2m | |
17 |
5.8m | 4.9m | 3.2m | 723,601 | |
170/4 |
5.8m | 4.9m | 3.2m | 723,601 | |
42/48 |
3.5m | 3.0m | 2.1m | 1.2m | |
42 |
726,116 | 325,308 | 208,509 | 48,564 | |
43 |
639,775 | 1.2m | - | - | |
430/8 |
639,775 | 1.2m | - | - | |
44 |
1.5m | 1.0m | 1.6m | 1.0m | |
440/4 |
1.5m | 1.0m | 1.6m | 1.0m | |
46 |
271,893 | - | - | - | |
45 |
291,196 | 389,778 | 244,902 | 106,215 | |
450/3 |
39,847 | 40,014 | 35,331 | 8,043 | |
454/9 |
251,349 | 349,764 | 209,571 | 98,172 | |
47/48 |
- | 2,687 | 905 | 599 | |
492/3 |
552,800 | 2.0m | 2.2m | 274,902 | |
| Income statement | |||||
76A |
- | - | 0 | 39,000 | |
9900 |
1.1m | 1.6m | 1.2m | 702,351 | |
62 |
2.1m | 2.1m | 1.0m | 724,571 | |
630 |
1.4m | 1.1m | 348,542 | 190,792 | |
640/8 |
292,116 | 9,015 | 9,142 | 105,493 | |
66A |
4,995 | 67,714 | 154,035 | - | |
9901 |
-2.7m | -1.7m | -309,509 | -318,505 | |
75/76B |
125,880 | 182,166 | 124,870 | 85 | |
75 |
125,880 | 182,166 | 124,870 | 85 | |
65/66B |
738,096 | 629,623 | 197,943 | 14,931 | |
65 |
738,096 | 629,623 | 197,943 | 14,931 | |
9903 |
-3.3m | -2.1m | -382,581 | -333,351 | |
67/77 |
-19,267 | -252,432 | -1,050 | 1,050 | |
9904 |
-3.3m | -1.8m | -381,531 | -334,401 | |
9905 |
-3.3m | -1.8m | -381,531 | -334,401 | |
| Appropriation of the result | |||||
9906 |
-5.9m | -2.6m | -715,932 | -334,401 | |
14P |
-2.6m | -715,932 | -334,401 | - | |
791/2 |
2.9m | - | - | - | |
| Social balance sheet | |||||
9087 |
31.4 | 34.1 | 14.5 | 6.9 | |
Hours worked1013 |
47,105 | 53,444 | 26,682 | 19,011 | |
| Document | |||||
The notes to these accounts have 21 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 15-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2022 to 2025, 25 entries, €962,797 awarded, €865,765 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 8 | €5,305 | €262,586 |
| 2024 | 7 | €126,372 | €168,658 |
| 2023 | 5 | €50,300 | €365,061 |
| 2022 | 5 | €780,820 | €69,460 |
European Union 2023 to 2024, 4 entries, €885,618 in total
| Year | Entries | Awarded |
|---|---|---|
| 2024 | 2 | €417,909 |
| 2023 | 2 | €467,709 |
European research 2 projects, €732,397 EU contribution
Projects
- effectIve advaNCements towaRds uptakE of PV integrAted in buildingS & infrastructurEHorizon Europe, participant, 01-10-2023 to 31-03-2028, €467,709, Increase
- Sustainable, High-throughput, Industry-ready, Next-generation technology for European manufacturing leadership in PVHorizon Europe, participant, 01-01-2025 to 31-12-2028, €264,688, SHINE PV
- CLOSER - CIRCULAR RAW MATERIALS FOR EUROPEAN OPEN STRATEGIC AUTONOMY ON CHIPS AND MICROLECTRONICS PRODUCTIONEuropean Regional Development Fund, 01-10-2024 to 30-09-2027, €153,223
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| -1.3m | -568,331 | 39,033 | -127,713 | ||
| -1.9m | -763,357 | -32,989 | -143,610 | ||
| 655,553 | 4.4m | 4.1m | 1.5m | ||
| 481,327 | -439,593 | 206,700 | - | ||
| 275,994 | 454,504 | 1.5m | 1.1m | ||
| 9.7% | 12.3% | 19.2% | 38.9% | ||
| 1.08 | 1.15 | 1.75 | 1.92 | ||
| 0.89 | 0.92 | 1.36 | 1.72 | ||
| 9.35 | 7.15 | 4.21 | 1.57 | ||
| -315.7% | -132.7% | -21.4% | -23.9% | ||
| -30.5% | -16.3% | -4.1% | -9.3% | ||
| -1.76 | -0.90 | 0.20 | -8.55 |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 27 | 35 | 23 | 9 |
| full-time | 25 | 32 | 21 | 8 |
| part-time | 2 | 3 | 2 | 1 |
| in full-time equivalents | 26.6 | 33.8 | 22.4 | 8.6 |
| 31.4 | 34.1 | 15.7 | 6.9 | |
| On a permanent contract | 19 | 21 | 22 | 7 |
| Joined | 14 | 35 | 19 | 15 |
| Left | 22 | 23 | 5 | 6 |
| Training hours | 57 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €1.2m | €92,165 |
| Debts guaranteed by Belgian public bodies | - | - | €570,000 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €27,768 | €2.8m | €2.3m | €1.1m |
| Intangible fixed assets | €627,785 | €1.5m | €1.5m | €337,825 |
| Financial fixed assets | - | - | €325,000 | - |
| €1.4m | €1.1m | €348,542 | €190,792 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on SOLTECH
The operating result for 2025 is a loss of €2.7m, larger than the loss of €1.7m in 2024. It is the lowest result since 2022.
Debt's share of the balance-sheet total rises from 87.7% to 90.3%. Equity and debt are lower.
- 2025 Net result -80% on 2024. The accounts now follow the full format, last year the abbreviated format.