SOBEX: 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.
SOBEX
Largest movements
- Receivables within one year +€92,413
up €92,413 (+73.0%), from €126,580 to €218,993
of which Trade receivables: +€96,136
- Stocks and contracts +€16,133
up €16,133 (+4.2%), from €382,714 to €398,847
- Debts after one year +€152,336
up €152,336 (+3,266%), from €4,664 to €157,000
of which Other amounts payable: +€157,000
- Short-term financial debts -€104,013
down €104,013 (-41.7%), from €249,600 to €145,587
- Profit (loss) carried forward +€76,689
up €76,689 (+12.1%), from -€631,816 to -€555,127
- Trade debts -€24,367
down €24,367 (-11.7%), from €208,606 to €184,239
- Other debts +€19,564
new in 2025: €19,564
- Gross operating margin +€111,449
up €111,449 (+183%), from €60,826 to €172,274
- Staff costs +€26,073
up €26,073 (+194%), from €13,443 to €39,516
- Other operating charges -€7,819
down €7,819 (-67.4%), from €11,594 to €3,775
- Financial charges +€3,464
up €3,464 (+8.7%), from €39,758 to €43,222
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 | €552,193 | €654,556 | +€102,363 | +18.5% |
| Fixed assets | 21/28 | €22,761 | €18,900 | -€3,861 | -17.0% |
| Tangible fixed assets | 22/27 | €22,626 | €18,765 | -€3,861 | -17.1% |
| Plant, machinery and equipment | 23 | €1,540 | €749 | -€791 | -51.4% |
| Furniture and vehicles | 24 | €17,635 | €10,250 | -€7,386 | -41.9% |
| Other tangible fixed assets | 26 | €3,451 | €7,767 | +€4,316 | +125% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €529,432 | €635,656 | +€106,224 | +20.1% |
| Stocks and contracts in progress | 3 | €382,714 | €398,847 | +€16,133 | +4.2% |
| Stocks | 30/36 | €382,714 | €398,847 | +€16,133 | +4.2% |
| Amounts receivable within one year | 40/41 | €126,580 | €218,993 | +€92,413 | +73.0% |
| Trade receivables | 40 | €105,189 | €201,325 | +€96,136 | +91.4% |
| Other amounts receivable | 41 | €21,391 | €17,668 | -€3,723 | -17.4% |
| Cash at bank and in hand | 54/58 | €19,086 | €15,181 | -€3,906 | -20.5% |
| Deferred charges and accrued income | 490/1 | €1,052 | €2,636 | +€1,585 | +151% |
| Total equity and liabilities | 10/49 | €552,193 | €654,556 | +€102,363 | +18.5% |
| Equity | 10/15 | €33,184 | €109,873 | +€76,689 | +231% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€631,816 | -€555,127 | +€76,689 | +12.1% |
| Amounts payable | 17/49 | €519,009 | €544,683 | +€25,675 | +4.9% |
| Amounts payable after more than one year | 17 | €4,664 | €157,000 | +€152,336 | +3,266% |
| Financial debts | 170/4 | €4,664 | - | -€4,664 | |
| Other amounts payable | 178/9 | €0 | €157,000 | +€157,000 | |
| Amounts payable within one year | 42/48 | €514,345 | €387,683 | -€126,661 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €5,311 | €4,664 | -€647 | -12.2% |
| Financial debts | 43 | €249,600 | €145,587 | -€104,013 | -41.7% |
| Credit institutions | 430/8 | €249,600 | €145,587 | -€104,013 | -41.7% |
| Trade debts | 44 | €208,606 | €184,239 | -€24,367 | -11.7% |
| Suppliers | 440/4 | €208,606 | €184,239 | -€24,367 | -11.7% |
| Taxes, remuneration and social security | 45 | €50,827 | €33,629 | -€17,198 | -33.8% |
| Taxes | 450/3 | €50,827 | €16,718 | -€34,110 | -67.1% |
| Remuneration and social security | 454/9 | €0 | €16,912 | +€16,912 | |
| Other amounts payable | 47/48 | - | €19,564 | +€19,564 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €80,597 | - | -€80,597 | |
| Remuneration, social security and pensions | 62 | €13,443 | €39,516 | +€26,073 | +194% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,802 | €9,072 | -€731 | -7.5% |
| Other operating charges | 640/8 | €11,594 | €3,775 | -€7,819 | -67.4% |
| Non-recurring operating charges | 66A | €6,375 | - | -€6,375 | |
| Gross operating margin | 9900 | €60,826 | €172,274 | +€111,449 | +183% |
| Operating profit (loss) | 9901 | €19,611 | €119,911 | +€100,300 | +511% |
| Financial income | 75/76B | €51 | - | -€51 | |
| Recurring financial income | 75 | €51 | - | -€51 | |
| Financial charges | 65/66B | €39,758 | €43,222 | +€3,464 | +8.7% |
| Recurring financial charges | 65 | €39,758 | €43,222 | +€3,464 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | -€20,096 | €76,689 | +€96,785 | |
| Profit (loss) for the period | 9904 | -€20,096 | €76,689 | +€96,785 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,096 | €76,689 | +€96,785 |
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 18 October 2026 via checked.be.