SO.RENOVATION: 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.RENOVATION
Largest movements
- Receivables within one year +€46,951
up €46,951 (+530%), from €8,856 to €55,807
of which Other amounts receivable: +€37,652
- Deferred charges and accrued income -€7,228
down €7,228 (-99.6%), from €7,258 to €30
- Cash -€2,546
down €2,546 (-5.0%), from €51,181 to €48,635
mainly Receivables within one year (-€46,951) and Contributions, distributions and other (-€11,800)
- Tangible fixed assets +€1,702
up €1,702 (+48.0%), from €3,545 to €5,247
- Trade debts +€45,248
up €45,248 (+429%), from €10,541 to €55,789
- Profit (loss) carried forward -€11,774
down €11,774 (-95.0%), from €12,394 to €620
- Other debts +€3,031
up €3,031 (+26.4%), from €11,482 to €14,513
- Reserves +€2,000
up €2,000 (+11.0%), from €18,200 to €20,200
- Gross operating margin -€24,597
down €24,597 (-75.5%), from €32,561 to €7,964
- Taxes -€8,822
down €8,822 (-83.0%), from €10,632 to €1,810
- Write-downs -€2,560
no longer reported in 2025 (was €2,560)
- Financial charges -€806
down €806 (-81.3%), from €992 to €186
- Depreciation -€374
down €374 (-12.9%), from €2,903 to €2,529
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 | €71,447 | €110,326 | +€38,879 | +54.4% |
| Fixed assets | 21/28 | €4,152 | €5,854 | +€1,702 | +41.0% |
| Tangible fixed assets | 22/27 | €3,545 | €5,247 | +€1,702 | +48.0% |
| Furniture and vehicles | 24 | €3,545 | €5,247 | +€1,702 | +48.0% |
| Financial fixed assets | 28 | €607 | €607 | = | 0.0% |
| Current assets | 29/58 | €67,295 | €104,472 | +€37,177 | +55.2% |
| Amounts receivable within one year | 40/41 | €8,856 | €55,807 | +€46,951 | +530% |
| Trade receivables | 40 | €3,026 | €12,325 | +€9,299 | +307% |
| Other amounts receivable | 41 | €5,830 | €43,482 | +€37,652 | +646% |
| Cash at bank and in hand | 54/58 | €51,181 | €48,635 | -€2,546 | -5.0% |
| Deferred charges and accrued income | 490/1 | €7,258 | €30 | -€7,228 | -99.6% |
| Total equity and liabilities | 10/49 | €71,447 | €110,326 | +€38,879 | +54.4% |
| Equity | 10/15 | €36,794 | €27,020 | -€9,774 | -26.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,200 | €20,200 | +€2,000 | +11.0% |
| Distributable reserves | 133 | €18,200 | €20,200 | +€2,000 | +11.0% |
| Profit (loss) carried forward | 14 | €12,394 | €620 | -€11,774 | -95.0% |
| Amounts payable | 17/49 | €34,653 | €83,306 | +€48,653 | +140% |
| Amounts payable within one year | 42/48 | €34,653 | €83,306 | +€48,653 | +140% |
| Trade debts | 44 | €10,541 | €55,789 | +€45,248 | +429% |
| Suppliers | 440/4 | €10,541 | €55,789 | +€45,248 | +429% |
| Taxes, remuneration and social security | 45 | €12,630 | €13,004 | +€374 | +3.0% |
| Taxes | 450/3 | €12,630 | €13,004 | +€374 | +3.0% |
| Other amounts payable | 47/48 | €11,482 | €14,513 | +€3,031 | +26.4% |
| Remuneration, social security and pensions | 62 | €17 | - | -€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,903 | €2,529 | -€374 | -12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,560 | - | -€2,560 | |
| Other operating charges | 640/8 | €1,428 | €1,346 | -€82 | -5.7% |
| Non-recurring operating charges | 66A | - | €67 | +€67 | |
| Gross operating margin | 9900 | €32,561 | €7,964 | -€24,597 | -75.5% |
| Operating profit (loss) | 9901 | €25,653 | €4,022 | -€21,631 | -84.3% |
| Financial charges | 65/66B | €992 | €186 | -€806 | -81.3% |
| Recurring financial charges | 65 | €992 | €186 | -€806 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €24,661 | €3,836 | -€20,825 | -84.4% |
| Income taxes | 67/77 | €10,632 | €1,810 | -€8,822 | -83.0% |
| Profit (loss) for the period | 9904 | €14,029 | €2,026 | -€12,003 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,029 | €2,026 | -€12,003 | -85.6% |
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 30 October 2026 via checked.be.