SO-BUILD: 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.
SO-BUILD
Largest movements
- Tangible fixed assets -€84,052
down €84,052 (-8.3%), from €1.0m to €927,183
of which Land and buildings: -€73,417
- Cash +€27,932
up €27,932 (+4.5%), from €622,853 to €650,785
mainly Net result for the year (+€230,018) and Depreciation (+€98,212)
- Debts after one year -€150,615
down €150,615 (-61.0%), from €246,829 to €96,214
- Other debts +€87,614
up €87,614 (+57.8%), from €151,642 to €239,256
- Reserves -€40,973
down €40,973 (-3.5%), from €1.2m to €1.1m
of which Distributable reserves: -€40,973
- Tax, wage and social debts +€22,847
up €22,847 (+74.7%), from €30,599 to €53,446
of which Taxes: +€35,170
- Taxes +€27,491
up €27,491 (+35.6%), from €77,190 to €104,681
- Gross operating margin +€23,400
up €23,400 (+4.5%), from €525,509 to €548,910
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.
Cash bridge derived
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 | €1,825,948 | €1,757,219 | -€68,729 | -3.8% |
| Fixed assets | 21/28 | €1,011,235 | €927,183 | -€84,052 | -8.3% |
| Tangible fixed assets | 22/27 | €1,011,235 | €927,183 | -€84,052 | -8.3% |
| Land and buildings | 22 | €934,644 | €861,227 | -€73,417 | -7.9% |
| Plant, machinery and equipment | 23 | €66,586 | €56,201 | -€10,386 | -15.6% |
| Furniture and vehicles | 24 | €10,005 | €9,756 | -€249 | -2.5% |
| Current assets | 29/58 | €814,713 | €830,036 | +€15,323 | +1.9% |
| Stocks and contracts in progress | 3 | €24,930 | €24,930 | = | 0.0% |
| Stocks | 30/36 | €24,930 | €24,930 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €166,930 | €154,321 | -€12,609 | -7.6% |
| Trade receivables | 40 | €159,120 | €145,616 | -€13,504 | -8.5% |
| Other amounts receivable | 41 | €7,810 | €8,705 | +€895 | +11.5% |
| Cash at bank and in hand | 54/58 | €622,853 | €650,785 | +€27,932 | +4.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,825,948 | €1,757,219 | -€68,729 | -3.8% |
| Equity | 10/15 | €1,231,242 | €1,190,269 | -€40,973 | -3.3% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €1,175,466 | €1,134,493 | -€40,973 | -3.5% |
| Tax-exempt reserves | 132 | €605 | €605 | = | 0.0% |
| Distributable reserves | 133 | €1,174,861 | €1,133,888 | -€40,973 | -3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €594,706 | €566,950 | -€27,756 | -4.7% |
| Amounts payable after more than one year | 17 | €246,829 | €96,214 | -€150,615 | -61.0% |
| Financial debts | 170/4 | €246,829 | €96,214 | -€150,615 | -61.0% |
| Amounts payable within one year | 42/48 | €347,877 | €470,737 | +€122,860 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | €165,636 | €163,868 | -€1,769 | -1.1% |
| Financial debts | 43 | - | €610 | +€610 | |
| Credit institutions | 430/8 | - | €610 | +€610 | |
| Trade debts | 44 | €0 | €13,557 | +€13,557 | |
| Suppliers | 440/4 | €0 | €13,557 | +€13,557 | |
| Taxes, remuneration and social security | 45 | €30,599 | €53,446 | +€22,847 | +74.7% |
| Taxes | 450/3 | €15,634 | €50,804 | +€35,170 | +225.0% |
| Remuneration and social security | 454/9 | €14,966 | €2,643 | -€12,323 | -82.3% |
| Other amounts payable | 47/48 | €151,642 | €239,256 | +€87,614 | +57.8% |
| Remuneration, social security and pensions | 62 | €103,653 | €100,384 | -€3,269 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,474 | €98,212 | +€2,738 | +2.9% |
| Other operating charges | 640/8 | €14,162 | €14,731 | +€568 | +4.0% |
| Gross operating margin | 9900 | €525,509 | €548,910 | +€23,400 | +4.5% |
| Operating profit (loss) | 9901 | €312,220 | €335,583 | +€23,363 | +7.5% |
| Financial income | 75/76B | €18,140 | €16,750 | -€1,390 | -7.7% |
| Recurring financial income | 75 | €18,140 | €16,750 | -€1,390 | -7.7% |
| Financial charges | 65/66B | €16,964 | €17,635 | +€671 | +4.0% |
| Recurring financial charges | 65 | €16,964 | €17,635 | +€671 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €313,397 | €334,698 | +€21,302 | +6.8% |
| Income taxes | 67/77 | €77,190 | €104,681 | +€27,491 | +35.6% |
| Profit (loss) for the period | 9904 | €236,207 | €230,018 | -€6,189 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €236,207 | €230,018 | -€6,189 | -2.6% |
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 10 October 2026 via checked.be.