PNEUS SORET: 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.
PNEUS SORET
Largest movements
- Receivables within one year -€28,555
down €28,555 (-23.4%), from €121,924 to €93,368
of which Trade receivables: -€37,687
- Cash +€14,426
up €14,426 (+15.1%), from €95,664 to €110,090
mainly Depreciation (+€54,947) and Net result for the year (+€33,825)
- Tangible fixed assets -€7,684
down €7,684 (-2.0%), from €392,113 to €384,430
of which Furniture and vehicles: -€23,673
- Reserves -€16,175
down €16,175 (-4.0%), from €407,326 to €391,152
- Trade debts +€7,812
up €7,812 (+13.8%), from €56,456 to €64,269
- Current portion of long-term debt -€7,686
down €7,686 (-19.4%), from €39,710 to €32,023
- Tax, wage and social debts -€7,291
down €7,291 (-15.1%), from €48,411 to €41,120
of which Taxes: -€6,400
- Gross operating margin -€43,264
down €43,264 (-12.0%), from €359,172 to €315,909
- Staff costs +€16,564
up €16,564 (+8.6%), from €192,694 to €209,259
- Taxes -€15,893
down €15,893 (-55.0%), from €28,898 to €13,005
- Depreciation -€4,137
down €4,137 (-7.0%), from €59,084 to €54,947
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 | €673,855 | €644,242 | -€29,612 | -4.4% |
| Fixed assets | 21/28 | €392,113 | €384,430 | -€7,684 | -2.0% |
| Tangible fixed assets | 22/27 | €392,113 | €384,430 | -€7,684 | -2.0% |
| Land and buildings | 22 | €329,302 | €342,999 | +€13,697 | +4.2% |
| Plant, machinery and equipment | 23 | €8,641 | €10,933 | +€2,292 | +26.5% |
| Furniture and vehicles | 24 | €54,170 | €30,497 | -€23,673 | -43.7% |
| Current assets | 29/58 | €281,741 | €259,813 | -€21,928 | -7.8% |
| Stocks and contracts in progress | 3 | €56,275 | €50,864 | -€5,410 | -9.6% |
| Stocks | 30/36 | €56,275 | €50,864 | -€5,410 | -9.6% |
| Amounts receivable within one year | 40/41 | €121,924 | €93,368 | -€28,555 | -23.4% |
| Trade receivables | 40 | €112,055 | €74,368 | -€37,687 | -33.6% |
| Other amounts receivable | 41 | €9,868 | €19,000 | +€9,132 | +92.5% |
| Cash at bank and in hand | 54/58 | €95,664 | €110,090 | +€14,426 | +15.1% |
| Deferred charges and accrued income | 490/1 | €7,879 | €5,490 | -€2,389 | -30.3% |
| Total equity and liabilities | 10/49 | €673,855 | €644,242 | -€29,612 | -4.4% |
| Equity | 10/15 | €444,526 | €428,352 | -€16,175 | -3.6% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €407,326 | €391,152 | -€16,175 | -4.0% |
| Distributable reserves | 133 | €407,326 | €391,152 | -€16,175 | -4.0% |
| Amounts payable | 17/49 | €229,328 | €215,891 | -€13,438 | -5.9% |
| Amounts payable after more than one year | 17 | €27,086 | €27,265 | +€179 | +0.7% |
| Financial debts | 170/4 | €27,086 | €27,265 | +€179 | +0.7% |
| Amounts payable within one year | 42/48 | €202,242 | €188,626 | -€13,616 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €39,710 | €32,023 | -€7,686 | -19.4% |
| Trade debts | 44 | €56,456 | €64,269 | +€7,812 | +13.8% |
| Suppliers | 440/4 | €56,456 | €64,269 | +€7,812 | +13.8% |
| Advances received on contracts in progress | 46 | €2,665 | €1,214 | -€1,452 | -54.5% |
| Taxes, remuneration and social security | 45 | €48,411 | €41,120 | -€7,291 | -15.1% |
| Taxes | 450/3 | €30,244 | €23,844 | -€6,400 | -21.2% |
| Remuneration and social security | 454/9 | €18,167 | €17,276 | -€891 | -4.9% |
| Other amounts payable | 47/48 | €55,000 | €50,000 | -€5,000 | -9.1% |
| Remuneration, social security and pensions | 62 | €192,694 | €209,259 | +€16,564 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,084 | €54,947 | -€4,137 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,740 | - | -€1,740 | |
| Other operating charges | 640/8 | €7,997 | €8,346 | +€349 | +4.4% |
| Gross operating margin | 9900 | €359,172 | €315,909 | -€43,264 | -12.0% |
| Operating profit (loss) | 9901 | €97,657 | €43,357 | -€54,300 | -55.6% |
| Financial income | 75/76B | €9,594 | €9,094 | -€499 | -5.2% |
| Recurring financial income | 75 | €9,594 | €9,094 | -€499 | -5.2% |
| Financial charges | 65/66B | €6,172 | €5,620 | -€551 | -8.9% |
| Recurring financial charges | 65 | €6,172 | €5,620 | -€551 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €101,079 | €46,831 | -€54,248 | -53.7% |
| Income taxes | 67/77 | €28,898 | €13,005 | -€15,893 | -55.0% |
| Profit (loss) for the period | 9904 | €72,181 | €33,825 | -€38,356 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,181 | €33,825 | -€38,356 | -53.1% |
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 21 October 2026 via checked.be.