So wo-man: 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 wo-man
Largest movements
- Cash +€78,628
up €78,628 (+82.8%), from €94,963 to €173,591
mainly Net result for the year (+€81,340) and Depreciation (+€2,888)
- Reserves +€80,507
up €80,507 (+102%), from €79,110 to €159,617
- Trade debts -€2,227
no longer reported in 2025 (was €2,227)
- Gross operating margin +€3,755
up €3,755 (+3.6%), from €103,032 to €106,787
- Depreciation +€1,129
up €1,129 (+64.1%), from €1,760 to €2,888
- Taxes +€1,084
up €1,084 (+5.2%), from €20,662 to €21,746
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 | €118,419 | €199,155 | +€80,736 | +68.2% |
| Fixed assets | 21/28 | €9,904 | €10,560 | +€656 | +6.6% |
| Tangible fixed assets | 22/27 | €9,904 | €10,560 | +€656 | +6.6% |
| Plant, machinery and equipment | 23 | €6,980 | €4,724 | -€2,255 | -32.3% |
| Furniture and vehicles | 24 | €2,924 | €5,836 | +€2,911 | +99.6% |
| Current assets | 29/58 | €108,515 | €188,595 | +€80,080 | +73.8% |
| Amounts receivable within one year | 40/41 | €13,552 | €15,004 | +€1,452 | +10.7% |
| Trade receivables | 40 | €13,552 | €15,004 | +€1,452 | +10.7% |
| Cash at bank and in hand | 54/58 | €94,963 | €173,591 | +€78,628 | +82.8% |
| Total equity and liabilities | 10/49 | €118,419 | €199,155 | +€80,736 | +68.2% |
| Equity | 10/15 | €83,110 | €163,617 | +€80,507 | +96.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €79,110 | €159,617 | +€80,507 | +102% |
| Distributable reserves | 133 | €79,110 | €159,617 | +€80,507 | +102% |
| Amounts payable | 17/49 | €35,308 | €35,538 | +€229 | +0.6% |
| Amounts payable within one year | 42/48 | €35,308 | €35,538 | +€229 | +0.6% |
| Trade debts | 44 | €2,227 | - | -€2,227 | |
| Suppliers | 440/4 | €2,227 | - | -€2,227 | |
| Taxes, remuneration and social security | 45 | €29,200 | €30,709 | +€1,510 | +5.2% |
| Taxes | 450/3 | €29,200 | €30,709 | +€1,510 | +5.2% |
| Other amounts payable | 47/48 | €3,882 | €4,829 | +€946 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,760 | €2,888 | +€1,129 | +64.1% |
| Other operating charges | 640/8 | €675 | €753 | +€78 | +11.5% |
| Gross operating margin | 9900 | €103,032 | €106,787 | +€3,755 | +3.6% |
| Operating profit (loss) | 9901 | €100,596 | €103,145 | +€2,549 | +2.5% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €24 | €61 | +€37 | +156% |
| Recurring financial charges | 65 | €24 | €61 | +€37 | +156% |
| Profit (loss) for the period before taxes | 9903 | €100,573 | €103,086 | +€2,513 | +2.5% |
| Income taxes | 67/77 | €20,662 | €21,746 | +€1,084 | +5.2% |
| Profit (loss) for the period | 9904 | €79,910 | €81,340 | +€1,429 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €79,910 | €81,340 | +€1,429 | +1.8% |
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 26 October 2026 via checked.be.