SO'S: 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'S
Largest movements
- Receivables within one year -€66,088
down €66,088 (-89.9%), from €73,537 to €7,449
of which Other amounts receivable: -€70,219
- Tangible fixed assets -€38,765
down €38,765 (-96.7%), from €40,082 to €1,318
of which Furniture and vehicles: -€37,033
- Cash +€26,671
up €26,671 (+40.8%), from €65,386 to €92,057
mainly Receivables within one year (+€66,088) and Investment in fixed assets (net) (+€37,486)
- Debts after one year -€52,352
no longer reported in 2025 (was €52,352)
- Current portion of long-term debt -€12,663
no longer reported in 2025 (was €12,663)
- Tax, wage and social debts -€10,630
no longer reported in 2025 (was €10,630)
- Trade debts -€3,355
down €3,355 (-66.9%), from €5,013 to €1,658
- Purchases and services -€5,458
down €5,458 (-62.8%), from €8,691 to €3,233
- Depreciation -€4,779
down €4,779 (-78.9%), from €6,057 to €1,278
- Financial income -€2,948
down €2,948 (-50.8%), from €5,805 to €2,857
of which Financial income: -€2,585
- Gross operating margin +€2,796
up €2,796, from -€279 to €2,517
- Turnover -€2,662
down €2,662 (-31.6%), from €8,412 to €5,750
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 | €179,006 | €100,824 | -€78,182 | -43.7% |
| Fixed assets | 21/28 | €40,082 | €1,318 | -€38,765 | -96.7% |
| Tangible fixed assets | 22/27 | €40,082 | €1,318 | -€38,765 | -96.7% |
| Plant, machinery and equipment | 23 | €3,049 | €1,318 | -€1,731 | -56.8% |
| Furniture and vehicles | 24 | €37,033 | - | -€37,033 | |
| Current assets | 29/58 | €138,924 | €99,506 | -€39,418 | -28.4% |
| Amounts receivable within one year | 40/41 | €73,537 | €7,449 | -€66,088 | -89.9% |
| Trade receivables | 40 | €2,411 | €6,542 | +€4,131 | +171.3% |
| Other amounts receivable | 41 | €71,127 | €908 | -€70,219 | -98.7% |
| Cash at bank and in hand | 54/58 | €65,386 | €92,057 | +€26,671 | +40.8% |
| Total equity and liabilities | 10/49 | €179,006 | €100,824 | -€78,182 | -43.7% |
| Equity | 10/15 | €98,199 | €99,166 | +€967 | +1.0% |
| Contributions | 10/11 | €114,000 | €114,000 | = | 0.0% |
| Reserves | 13 | €1,073 | €1,073 | = | 0.0% |
| Non-distributable reserves | 130/1 | €59 | €59 | = | 0.0% |
| Reserves not available under the articles | 1311 | €59 | €59 | = | 0.0% |
| Distributable reserves | 133 | €1,014 | €1,014 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,874 | -€15,908 | +€967 | +5.7% |
| Amounts payable | 17/49 | €80,807 | €1,658 | -€79,149 | -97.9% |
| Amounts payable after more than one year | 17 | €52,352 | - | -€52,352 | |
| Financial debts | 170/4 | €52,352 | - | -€52,352 | |
| Amounts payable within one year | 42/48 | €28,455 | €1,658 | -€26,797 | -94.2% |
| Current portion of amounts payable after more than one year | 42 | €12,663 | - | -€12,663 | |
| Trade debts | 44 | €5,013 | €1,658 | -€3,355 | -66.9% |
| Suppliers | 440/4 | €5,013 | €1,658 | -€3,355 | -66.9% |
| Advances received on contracts in progress | 46 | €149 | - | -€149 | |
| Taxes, remuneration and social security | 45 | €10,630 | - | -€10,630 | |
| Taxes | 450/3 | €10,630 | - | -€10,630 | |
| Turnover | 70 | €8,412 | €5,750 | -€2,662 | -31.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,691 | €3,233 | -€5,458 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,057 | €1,278 | -€4,779 | -78.9% |
| Other operating charges | 640/8 | €736 | €806 | +€69 | +9.4% |
| Gross operating margin | 9900 | -€279 | €2,517 | +€2,796 | |
| Operating profit (loss) | 9901 | -€7,072 | €433 | +€7,505 | |
| Financial income | 75/76B | €5,805 | €2,857 | -€2,948 | -50.8% |
| Recurring financial income | 75 | €4,375 | €1,790 | -€2,585 | -59.1% |
| Non-recurring financial income | 76B | €1,430 | €1,067 | -€363 | -25.4% |
| Financial charges | 65/66B | €2,690 | €2,324 | -€366 | -13.6% |
| Recurring financial charges | 65 | €2,690 | €2,324 | -€366 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,957 | €967 | +€4,924 | |
| Profit (loss) for the period | 9904 | -€3,957 | €967 | +€4,924 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,957 | €967 | +€4,924 |
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 3 October 2026 via checked.be.