SO CAT: what changed
Two fiscal 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 CAT
Largest movements
- Tangible fixed assets -€12,331
down €12,331 (-2.8%), from €438,906 to €426,575
of which Land and buildings: -€12,600
- Debts after one year -€15,505
down €15,505 (-22.1%), from €70,089 to €54,584
- Profit (loss) carried forward -€10,927
down €10,927 (-3.0%), from -€358,321 to -€369,248
- Accrued charges and deferred income +€8,488
up €8,488 (+10.2%), from €83,461 to €91,949
- Other debts +€8,444
up €8,444 (+7.2%), from €116,980 to €125,424
- Tax, wage and social debts -€5,608
down €5,608 (-82.0%), from €6,835 to €1,227
- Gross operating margin -€56,682
down €56,682 (-74.3%), from €76,277 to €19,595
- Taxes -€3,800
no longer reported in 2025 (was €3,800)
- Financial charges -€3,299
down €3,299 (-20.2%), from €16,360 to €13,061
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 | €442,294 | €430,002 | -€12,292 | -2.8% |
| Fixed assets | 21/28 | €438,906 | €426,575 | -€12,331 | -2.8% |
| Tangible fixed assets | 22/27 | €438,906 | €426,575 | -€12,331 | -2.8% |
| Land and buildings | 22 | €423,650 | €411,050 | -€12,600 | -3.0% |
| Plant, machinery and equipment | 23 | €15,256 | €15,525 | +€269 | +1.8% |
| Current assets | 29/58 | €3,388 | €3,427 | +€39 | +1.2% |
| Amounts receivable within one year | 40/41 | €1,100 | - | -€1,100 | |
| Trade receivables | 40 | €1,100 | - | -€1,100 | |
| Cash at bank and in hand | 54/58 | €2,288 | €3,126 | +€838 | +36.6% |
| Deferred charges and accrued income | 490/1 | - | €301 | +€301 | |
| Total equity and liabilities | 10/49 | €442,294 | €430,002 | -€12,292 | -2.8% |
| Equity | 10/15 | €149,679 | €138,752 | -€10,927 | -7.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €258,000 | €258,000 | = | 0.0% |
| Distributable reserves | 133 | €258,000 | €258,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,321 | -€369,248 | -€10,927 | -3.0% |
| Amounts payable | 17/49 | €292,615 | €291,250 | -€1,365 | -0.5% |
| Amounts payable after more than one year | 17 | €70,089 | €54,584 | -€15,505 | -22.1% |
| Financial debts | 170/4 | €70,089 | €54,584 | -€15,505 | -22.1% |
| Amounts payable within one year | 42/48 | €139,065 | €144,717 | +€5,652 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €14,743 | €15,505 | +€762 | +5.2% |
| Trade debts | 44 | €507 | €2,561 | +€2,054 | +405.1% |
| Suppliers | 440/4 | €507 | €2,561 | +€2,054 | +405.1% |
| Taxes, remuneration and social security | 45 | €6,835 | €1,227 | -€5,608 | -82.0% |
| Taxes | 450/3 | €6,835 | €1,227 | -€5,608 | -82.0% |
| Other amounts payable | 47/48 | €116,980 | €125,424 | +€8,444 | +7.2% |
| Accrued charges and deferred income | 492/3 | €83,461 | €91,949 | +€8,488 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,536 | €15,850 | +€314 | +2.0% |
| Other operating charges | 640/8 | €1,584 | €1,611 | +€27 | +1.7% |
| Gross operating margin | 9900 | €76,277 | €19,595 | -€56,682 | -74.3% |
| Operating profit (loss) | 9901 | €59,157 | €2,134 | -€57,023 | -96.4% |
| Financial charges | 65/66B | €16,360 | €13,061 | -€3,299 | -20.2% |
| Recurring financial charges | 65 | €16,360 | €13,061 | -€3,299 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €42,797 | -€10,927 | -€53,724 | |
| Income taxes | 67/77 | €3,800 | - | -€3,800 | |
| Profit (loss) for the period | 9904 | €38,997 | -€10,927 | -€49,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,997 | -€10,927 | -€49,924 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.