SO Management: 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 Management
Largest movements
- Receivables within one year +€15,514
up €15,514 (+1,048%), from €1,481 to €16,995
of which Trade receivables: +€14,904
- Profit (loss) carried forward +€22,106
new in 2025: €22,106
- Trade debts +€8,398
up €8,398 (+356%), from €2,358 to €10,757
- Other debts -€8,366
down €8,366 (-19.0%), from €43,983 to €35,618
- Debts after one year -€4,963
down €4,963 (-30.6%), from €16,213 to €11,250
- Accrued charges and deferred income -€2,000
no longer reported in 2025 (was €2,000)
- Gross operating margin +€25,540
up €25,540 (+362%), from €7,052 to €32,592
- Taxes +€6,973
up €6,973 (+602%), from €1,159 to €8,132
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 | €106,291 | €123,403 | +€17,113 | +16.1% |
| Fixed assets | 21/28 | €104,142 | €105,314 | +€1,172 | +1.1% |
| Tangible fixed assets | 22/27 | €4,142 | €5,314 | +€1,172 | +28.3% |
| Plant, machinery and equipment | 23 | €1,442 | €1,267 | -€176 | -12.2% |
| Furniture and vehicles | 24 | €2,700 | €4,048 | +€1,348 | +49.9% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €2,148 | €18,089 | +€15,941 | +742% |
| Amounts receivable within one year | 40/41 | €1,481 | €16,995 | +€15,514 | +1,048% |
| Trade receivables | 40 | €1,321 | €16,225 | +€14,904 | +1,128% |
| Other amounts receivable | 41 | €160 | €770 | +€610 | +381% |
| Cash at bank and in hand | 54/58 | €667 | €1,091 | +€424 | +63.5% |
| Deferred charges and accrued income | 490/1 | - | €3 | +€3 | |
| Total equity and liabilities | 10/49 | €106,291 | €123,403 | +€17,113 | +16.1% |
| Equity | 10/15 | €29,948 | €52,054 | +€22,106 | +73.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €29,448 | €29,448 | = | 0.0% |
| Distributable reserves | 133 | €29,448 | €29,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €22,106 | +€22,106 | |
| Amounts payable | 17/49 | €76,342 | €71,350 | -€4,993 | -6.5% |
| Amounts payable after more than one year | 17 | €16,213 | €11,250 | -€4,963 | -30.6% |
| Financial debts | 170/4 | €16,213 | €11,250 | -€4,963 | -30.6% |
| Amounts payable within one year | 42/48 | €58,130 | €60,100 | +€1,970 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €4,699 | €4,963 | +€263 | +5.6% |
| Trade debts | 44 | €2,358 | €10,757 | +€8,398 | +356% |
| Suppliers | 440/4 | €2,358 | €10,757 | +€8,398 | +356% |
| Taxes, remuneration and social security | 45 | €7,089 | €8,763 | +€1,674 | +23.6% |
| Taxes | 450/3 | €6,089 | €8,763 | +€2,674 | +43.9% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €43,983 | €35,618 | -€8,366 | -19.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,076 | €1,101 | +€25 | +2.3% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €7,052 | €32,592 | +€25,540 | +362% |
| Operating profit (loss) | 9901 | €5,858 | €31,372 | +€25,513 | +436% |
| Financial charges | 65/66B | €1,418 | €1,134 | -€285 | -20.1% |
| Recurring financial charges | 65 | €1,418 | €1,134 | -€285 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €4,440 | €30,238 | +€25,798 | +581% |
| Income taxes | 67/77 | €1,159 | €8,132 | +€6,973 | +602% |
| Profit (loss) for the period | 9904 | €3,281 | €22,106 | +€18,824 | +574% |
| Profit (loss) for the period to be appropriated | 9905 | €3,281 | €22,106 | +€18,824 | +574% |
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 20 October 2026 via checked.be.