SO-FINE: 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-FINE
Largest movements
- Receivables within one year +€58,308
up €58,308 (+557%), from €10,471 to €68,780
of which Other amounts receivable: +€52,987
- Cash -€39,055
down €39,055 (-31.9%), from €122,326 to €83,271
mainly Receivables within one year (-€58,308) and Debts after one year (-€9,919)
- Stocks and contracts -€22,279
down €22,279 (-22.8%), from €97,763 to €75,484
- Debts after one year -€9,919
down €9,919 (-30.2%), from €32,802 to €22,883
- Trade debts +€8,609
up €8,609 (+28.7%), from €29,963 to €38,572
- Tax, wage and social debts -€7,041
down €7,041 (-21.7%), from €32,448 to €25,406
of which Taxes: -€7,408
- Reserves +€4,186
up €4,186 (+2.4%), from €173,471 to €177,657
- Gross operating margin -€59,470
down €59,470 (-58.6%), from €101,406 to €41,936
- Taxes -€12,571
down €12,571 (-76.7%), from €16,399 to €3,828
- Staff costs +€8,467
up €8,467 (+57.5%), from €14,738 to €23,206
- Financial charges +€3,205
up €3,205 (+118%), from €2,710 to €5,916
- Financial income +€2,672
up €2,672 (+219%), from €1,220 to €3,891
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 | €284,539 | €279,747 | -€4,792 | -1.7% |
| Fixed assets | 21/28 | €53,618 | €51,844 | -€1,775 | -3.3% |
| Intangible fixed assets | 21 | €825 | €725 | -€100 | -12.1% |
| Tangible fixed assets | 22/27 | €52,794 | €51,119 | -€1,675 | -3.2% |
| Land and buildings | 22 | €44,596 | €39,766 | -€4,830 | -10.8% |
| Plant, machinery and equipment | 23 | €8,197 | €6,239 | -€1,958 | -23.9% |
| Furniture and vehicles | 24 | - | €5,114 | +€5,114 | |
| Current assets | 29/58 | €230,921 | €227,903 | -€3,018 | -1.3% |
| Stocks and contracts in progress | 3 | €97,763 | €75,484 | -€22,279 | -22.8% |
| Stocks | 30/36 | €97,763 | €75,484 | -€22,279 | -22.8% |
| Amounts receivable within one year | 40/41 | €10,471 | €68,780 | +€58,308 | +557% |
| Trade receivables | 40 | €10,105 | €15,427 | +€5,322 | +52.7% |
| Other amounts receivable | 41 | €366 | €53,353 | +€52,987 | +14,467% |
| Cash at bank and in hand | 54/58 | €122,326 | €83,271 | -€39,055 | -31.9% |
| Deferred charges and accrued income | 490/1 | €360 | €368 | +€8 | +2.3% |
| Total equity and liabilities | 10/49 | €284,539 | €279,747 | -€4,792 | -1.7% |
| Equity | 10/15 | €178,471 | €182,657 | +€4,186 | +2.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €173,471 | €177,657 | +€4,186 | +2.4% |
| Distributable reserves | 133 | €173,471 | €177,657 | +€4,186 | +2.4% |
| Amounts payable | 17/49 | €106,069 | €97,091 | -€8,978 | -8.5% |
| Amounts payable after more than one year | 17 | €32,802 | €22,883 | -€9,919 | -30.2% |
| Financial debts | 170/4 | €32,802 | €22,883 | -€9,919 | -30.2% |
| Amounts payable within one year | 42/48 | €73,267 | €73,982 | +€716 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €9,535 | €9,919 | +€384 | +4.0% |
| Trade debts | 44 | €29,963 | €38,572 | +€8,609 | +28.7% |
| Suppliers | 440/4 | €29,963 | €38,572 | +€8,609 | +28.7% |
| Advances received on contracts in progress | 46 | €12 | €85 | +€73 | +600% |
| Taxes, remuneration and social security | 45 | €32,448 | €25,406 | -€7,041 | -21.7% |
| Taxes | 450/3 | €31,682 | €24,273 | -€7,408 | -23.4% |
| Remuneration and social security | 454/9 | €766 | €1,133 | +€367 | +47.9% |
| Other amounts payable | 47/48 | €1,309 | - | -€1,309 | |
| Accrued charges and deferred income | 492/3 | - | €225 | +€225 | |
| Remuneration, social security and pensions | 62 | €14,738 | €23,206 | +€8,467 | +57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,397 | €7,275 | +€1,877 | +34.8% |
| Other operating charges | 640/8 | €2,197 | €1,418 | -€779 | -35.4% |
| Non-recurring operating charges | 66A | €2,244 | - | -€2,244 | |
| Gross operating margin | 9900 | €101,406 | €41,936 | -€59,470 | -58.6% |
| Operating profit (loss) | 9901 | €76,829 | €10,038 | -€66,792 | -86.9% |
| Financial income | 75/76B | €1,220 | €3,891 | +€2,672 | +219% |
| Recurring financial income | 75 | €1,220 | €3,891 | +€2,672 | +219% |
| Financial charges | 65/66B | €2,710 | €5,916 | +€3,205 | +118% |
| Recurring financial charges | 65 | €2,710 | €5,916 | +€3,205 | +118% |
| Profit (loss) for the period before taxes | 9903 | €75,339 | €8,014 | -€67,325 | -89.4% |
| Income taxes | 67/77 | €16,399 | €3,828 | -€12,571 | -76.7% |
| Profit (loss) for the period | 9904 | €58,940 | €4,186 | -€54,754 | -92.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,940 | €4,186 | -€54,754 | -92.9% |
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 23 October 2026 via checked.be.