SOBALEX: 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.
SOBALEX
Largest movements
- Receivables within one year -€118,406
down €118,406 (-77.1%), from €153,589 to €35,183
of which Trade receivables: -€74,699
- Cash -€103,286
down €103,286 (-21.2%), from €487,282 to €383,996
mainly Trade debts (-€192,173) and Other debts (-€178,515)
- Tangible fixed assets -€59,404
down €59,404 (-8.1%), from €733,045 to €673,642
of which Plant, machinery and equipment: -€46,772
- Trade debts -€192,173
down €192,173 (-40.0%), from €479,864 to €287,691
- Other debts -€178,515
down €178,515 (-66.9%), from €267,000 to €88,485
- Reserves +€36,400
up €36,400 (+272.8%), from €13,342 to €49,742
of which Distributable reserves: +€36,400
- Debts after one year +€34,640
up €34,640 (+16.0%), from €216,828 to €251,468
- Tax, wage and social debts +€22,555
up €22,555 (+15.4%), from €146,507 to €169,063
of which Remuneration and social security: +€11,786
- Staff costs +€150,698
up €150,698 (+11.9%), from €1.3m to €1.4m
- Depreciation +€56,146
up €56,146 (+72.3%), from €77,619 to €133,765
- Financial charges +€22,026
up €22,026 (+160.2%), from €13,753 to €35,778
of which Financial charges: +€13,861
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 | €1,419,816 | €1,145,163 | -€274,654 | -19.3% |
| Fixed assets | 21/28 | €733,640 | €674,237 | -€59,404 | -8.1% |
| Tangible fixed assets | 22/27 | €733,045 | €673,642 | -€59,404 | -8.1% |
| Plant, machinery and equipment | 23 | €162,689 | €115,916 | -€46,772 | -28.7% |
| Furniture and vehicles | 24 | €19,417 | €14,963 | -€4,454 | -22.9% |
| Other tangible fixed assets | 26 | €550,940 | €542,763 | -€8,177 | -1.5% |
| Financial fixed assets | 28 | €595 | €595 | = | 0.0% |
| Current assets | 29/58 | €686,176 | €470,926 | -€215,250 | -31.4% |
| Stocks and contracts in progress | 3 | €27,290 | €25,946 | -€1,344 | -4.9% |
| Stocks | 30/36 | €27,290 | €25,946 | -€1,344 | -4.9% |
| Amounts receivable within one year | 40/41 | €153,589 | €35,183 | -€118,406 | -77.1% |
| Trade receivables | 40 | €100,479 | €25,780 | -€74,699 | -74.3% |
| Other amounts receivable | 41 | €53,110 | €9,403 | -€43,707 | -82.3% |
| Cash at bank and in hand | 54/58 | €487,282 | €383,996 | -€103,286 | -21.2% |
| Deferred charges and accrued income | 490/1 | €18,015 | €25,801 | +€7,786 | +43.2% |
| Total equity and liabilities | 10/49 | €1,419,816 | €1,145,163 | -€274,654 | -19.3% |
| Equity | 10/15 | €130,843 | €167,243 | +€36,400 | +27.8% |
| Contributions | 10/11 | €117,502 | €117,502 | = | 0.0% |
| Capital | 10 | €117,502 | €117,502 | = | 0.0% |
| Issued capital | 100 | €117,502 | €117,502 | = | 0.0% |
| Reserves | 13 | €13,342 | €49,742 | +€36,400 | +272.8% |
| Non-distributable reserves | 130/1 | €11,750 | €11,750 | = | 0.0% |
| Legal reserve | 130 | €11,750 | €11,750 | = | 0.0% |
| Distributable reserves | 133 | €1,591 | €37,992 | +€36,400 | +2287.2% |
| Amounts payable | 17/49 | €1,288,973 | €977,919 | -€311,054 | -24.1% |
| Amounts payable after more than one year | 17 | €216,828 | €251,468 | +€34,640 | +16.0% |
| Financial debts | 170/4 | €216,828 | €251,468 | +€34,640 | +16.0% |
| Amounts payable within one year | 42/48 | €1,072,000 | €726,318 | -€345,681 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €81,379 | €83,830 | +€2,451 | +3.0% |
| Financial debts | 43 | €97,250 | €97,250 | = | 0.0% |
| Credit institutions | 430/8 | €97,250 | €97,250 | = | 0.0% |
| Trade debts | 44 | €479,864 | €287,691 | -€192,173 | -40.0% |
| Suppliers | 440/4 | €479,864 | €287,691 | -€192,173 | -40.0% |
| Taxes, remuneration and social security | 45 | €146,507 | €169,063 | +€22,555 | +15.4% |
| Taxes | 450/3 | €20,136 | €30,906 | +€10,770 | +53.5% |
| Remuneration and social security | 454/9 | €126,371 | €138,157 | +€11,786 | +9.3% |
| Other amounts payable | 47/48 | €267,000 | €88,485 | -€178,515 | -66.9% |
| Accrued charges and deferred income | 492/3 | €146 | €133 | -€13 | -8.7% |
| Non-recurring operating income | 76A | - | €2,633 | +€2,633 | |
| Remuneration, social security and pensions | 62 | €1,266,932 | €1,417,630 | +€150,698 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,619 | €133,765 | +€56,146 | +72.3% |
| Other operating charges | 640/8 | €6,542 | €4,876 | -€1,666 | -25.5% |
| Gross operating margin | 9900 | €1,639,567 | €1,646,578 | +€7,011 | +0.4% |
| Operating profit (loss) | 9901 | €288,474 | €90,306 | -€198,168 | -68.7% |
| Financial income | 75/76B | €282 | €223 | -€59 | -21.0% |
| Recurring financial income | 75 | €282 | €223 | -€59 | -21.0% |
| Financial charges | 65/66B | €13,753 | €35,778 | +€22,026 | +160.2% |
| Recurring financial charges | 65 | €13,753 | €27,614 | +€13,861 | +100.8% |
| Non-recurring financial charges | 66B | - | €8,164 | +€8,164 | |
| Profit (loss) for the period before taxes | 9903 | €275,004 | €54,751 | -€220,253 | -80.1% |
| Income taxes | 67/77 | €7,151 | €18,351 | +€11,200 | +156.6% |
| Profit (loss) for the period | 9904 | €267,853 | €36,400 | -€231,453 | -86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €267,853 | €36,400 | -€231,453 | -86.4% |
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 6 October 2026 via checked.be.