SO-NORD: 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-NORD
Largest movements
- Receivables within one year -€67,786
down €67,786 (-19.2%), from €353,365 to €285,579
of which Other amounts receivable: -€58,832
- Tangible fixed assets +€14,174
up €14,174 (+19.9%), from €71,384 to €85,558
of which Furniture and vehicles: +€10,184
- Current investments -€9,992
down €9,992 (-25.0%), from €39,992 to €30,000
- Cash -€8,196
down €8,196 (-5.2%), from €157,913 to €149,717
mainly Trade debts (-€58,069) and Investment in fixed assets (net) (-€39,410)
- Trade debts -€58,069
down €58,069 (-53.9%), from €107,776 to €49,707
- Tax, wage and social debts -€26,478
down €26,478 (-28.8%), from €91,887 to €65,409
of which Remuneration and social security: -€20,879
- Profit (loss) carried forward +€25,926
up €25,926 (+6.1%), from €424,113 to €450,040
- Current portion of long-term debt -€7,764
down €7,764 (-75.4%), from €10,300 to €2,537
- Gross operating margin -€132,641
down €132,641 (-29.1%), from €456,300 to €323,659
- Staff costs -€108,130
down €108,130 (-28.9%), from €373,734 to €265,604
- Taxes -€8,918
down €8,918 (-60.0%), from €14,869 to €5,950
- Depreciation +€8,798
up €8,798 (+53.5%), from €16,438 to €25,236
- Other operating charges -€6,340
down €6,340 (-86.4%), from €7,339 to €998
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 | €655,545 | €589,207 | -€66,338 | -10.1% |
| Fixed assets | 21/28 | €94,134 | €108,308 | +€14,174 | +15.1% |
| Tangible fixed assets | 22/27 | €71,384 | €85,558 | +€14,174 | +19.9% |
| Furniture and vehicles | 24 | €33,405 | €43,588 | +€10,184 | +30.5% |
| Other tangible fixed assets | 26 | €37,979 | €41,969 | +€3,990 | +10.5% |
| Financial fixed assets | 28 | €22,750 | €22,750 | = | 0.0% |
| Current assets | 29/58 | €561,411 | €480,899 | -€80,512 | -14.3% |
| Amounts receivable within one year | 40/41 | €353,365 | €285,579 | -€67,786 | -19.2% |
| Trade receivables | 40 | €275,213 | €266,258 | -€8,954 | -3.3% |
| Other amounts receivable | 41 | €78,152 | €19,321 | -€58,832 | -75.3% |
| Current investments | 50/53 | €39,992 | €30,000 | -€9,992 | -25.0% |
| Cash at bank and in hand | 54/58 | €157,913 | €149,717 | -€8,196 | -5.2% |
| Deferred charges and accrued income | 490/1 | €10,140 | €15,602 | +€5,462 | +53.9% |
| Total equity and liabilities | 10/49 | €655,545 | €589,207 | -€66,338 | -10.1% |
| Equity | 10/15 | €444,573 | €470,500 | +€25,926 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €424,113 | €450,040 | +€25,926 | +6.1% |
| Amounts payable | 17/49 | €210,972 | €118,707 | -€92,265 | -43.7% |
| Amounts payable within one year | 42/48 | €210,972 | €118,707 | -€92,265 | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €10,300 | €2,537 | -€7,764 | -75.4% |
| Trade debts | 44 | €107,776 | €49,707 | -€58,069 | -53.9% |
| Suppliers | 440/4 | €107,776 | €49,707 | -€58,069 | -53.9% |
| Taxes, remuneration and social security | 45 | €91,887 | €65,409 | -€26,478 | -28.8% |
| Taxes | 450/3 | €39,298 | €33,699 | -€5,599 | -14.2% |
| Remuneration and social security | 454/9 | €52,589 | €31,711 | -€20,879 | -39.7% |
| Other amounts payable | 47/48 | €1,008 | €1,054 | +€46 | +4.6% |
| Remuneration, social security and pensions | 62 | €373,734 | €265,604 | -€108,130 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,438 | €25,236 | +€8,798 | +53.5% |
| Other operating charges | 640/8 | €7,339 | €998 | -€6,340 | -86.4% |
| Gross operating margin | 9900 | €456,300 | €323,659 | -€132,641 | -29.1% |
| Operating profit (loss) | 9901 | €58,790 | €31,821 | -€26,968 | -45.9% |
| Financial income | 75/76B | €2,436 | €1,522 | -€914 | -37.5% |
| Recurring financial income | 75 | €2,436 | €1,522 | -€914 | -37.5% |
| Financial charges | 65/66B | €2,928 | €1,467 | -€1,461 | -49.9% |
| Recurring financial charges | 65 | €2,928 | €1,467 | -€1,461 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €58,297 | €31,876 | -€26,421 | -45.3% |
| Income taxes | 67/77 | €14,869 | €5,950 | -€8,918 | -60.0% |
| Profit (loss) for the period | 9904 | €43,429 | €25,926 | -€17,502 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,429 | €25,926 | -€17,502 | -40.3% |
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 22 October 2026 via checked.be.