SOBRADIS: 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.
What changed
SOBRADIS
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€362,785
2024 · €2.4m-€2.0m
Equity
€26.3m
2024 · €28.4m-€2.0m
Cash
€112,759
2024 · €209,227-€96,468
Balance sheet total
€54.7m
2024 · €55.9m-€1.2m
Largest movements
Assets
- Receivables within one year -€2.4m
down €2.4m (-14.8%), from €16.4m to €14.0m
of which Other amounts receivable: -€2.1m
- Tangible fixed assets +€1.4m
up €1.4m (+7.2%), from €19.1m to €20.4m
of which Land and buildings: +€1.5m
Equity and liabilities
- Debts after one year +€2.9m
up €2.9m (+32.2%), from €8.9m to €11.8m
of which Financial debts: +€2.9m
- Profit (loss) carried forward -€1.9m
down €1.9m (-17.4%), from €10.8m to €8.9m
- Current portion of long-term debt -€907,324
down €907,324 (-35.6%), from €2.5m to €1.6m
- Other debts -€669,184
down €669,184 (-20.6%), from €3.2m to €2.6m
Income statement
- Other operating income -€2.7m
down €2.7m (-85.5%), from €3.2m to €464,728
- Taxes -€587,134
down €587,134 (-84.3%), from €696,239 to €109,105
- Financial income -€150,873
down €150,873 (-11.6%), from €1.3m to €1.2m
- Financial charges -€105,657
down €105,657 (-10.0%), from €1.1m to €949,422
- Depreciation +€91,305
up €91,305 (+13.0%), from €703,401 to €794,706
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.
Result 2024
€2.4m
Turnover
+€9,469
Other operating income
-€2.7m
Services and other goods
+€29,509
Staff costs
+€2,194
Depreciation
-€91,305
Write-downs
+€56,967
Other operating charges
-€5,546
Other operating items
+€192,440
Financial income
-€150,873
Financial charges
+€105,657
Taxes
+€587,134
Deferred taxes and other
-€23,656
Result 2025
€362,785
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.5m
Investment
-€1.8m
Financing
-€779,785
Cash 2024
€209,227
From operations (derived)
+€2.5m
Net result for the year
+€362,785
Depreciation
+€794,706
Receivables after one year
-€193,762
Stocks and contracts
-€75,709
Receivables within one year
+€2.4m
Smaller working-capital items
-€8,618
Provisions
-€54,844
Trade debts
-€135,415
Tax, wage and social debts
-€40,105
Other debts
-€669,184
Accrued charges and deferred income
+€76,133
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Current investments
-€14,980
Financing
-€779,785
Debts after one year
+€2.9m
Current portion of long-term debt
-€907,324
Short-term financial debts
-€335,813
Contributions, distributions and other
-€2.4m
Cash 2025
€112,759
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,947,632 | €54,704,825 | -€1.2m | -2.2% |
| Fixed assets | 21/28 | €29,477,270 | €30,473,947 | +€996,677 | +3.4% |
| Intangible fixed assets | 21 | €118 | €0 | -€118 | -100% |
| Tangible fixed assets | 22/27 | €19,063,187 | €20,436,085 | +€1.4m | +7.2% |
| Land and buildings | 22 | €16,897,933 | €18,369,733 | +€1.5m | +8.7% |
| Furniture and vehicles | 24 | €1,876,192 | €1,845,781 | -€30,411 | -1.6% |
| Leasing and similar rights | 25 | €289,062 | €220,572 | -€68,490 | -23.7% |
| Financial fixed assets | 28 | €10,413,965 | €10,037,862 | -€376,104 | -3.6% |
| Affiliated companies | 280/1 | €10,382,309 | €10,006,205 | -€376,104 | -3.6% |
| Participating interests | 280 | €8,257,205 | €8,257,205 | = | 0.0% |
| Amounts receivable | 281 | €2,125,104 | €1,749,000 | -€376,104 | -17.7% |
| Other financial fixed assets | 284/8 | €31,656 | €31,656 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €31,656 | €31,656 | = | 0.0% |
| Current assets | 29/58 | €26,470,362 | €24,230,878 | -€2.2m | -8.5% |
| Amounts receivable after more than one year | 29 | €8,814,744 | €9,008,505 | +€193,762 | +2.2% |
| Other amounts receivable | 291 | €8,814,744 | €9,008,505 | +€193,762 | +2.2% |
| Stocks and contracts in progress | 3 | €717,215 | €792,924 | +€75,709 | +10.6% |
| Stocks | 30/36 | €717,215 | €792,924 | +€75,709 | +10.6% |
| Property held for sale | 35 | €717,215 | €792,924 | +€75,709 | +10.6% |
| Amounts receivable within one year | 40/41 | €16,439,650 | €14,005,958 | -€2.4m | -14.8% |
| Trade receivables | 40 | €430,459 | €53,525 | -€376,933 | -87.6% |
| Other amounts receivable | 41 | €16,009,191 | €13,952,433 | -€2.1m | -12.8% |
| Current investments | 50/53 | €285,362 | €300,342 | +€14,980 | +5.2% |
| Other investments | 51/53 | €285,362 | €300,342 | +€14,980 | +5.2% |
| Cash at bank and in hand | 54/58 | €209,227 | €112,759 | -€96,468 | -46.1% |
| Deferred charges and accrued income | 490/1 | €4,164 | €10,389 | +€6,225 | +149% |
| Total equity and liabilities | 10/49 | €55,947,632 | €54,704,825 | -€1.2m | -2.2% |
| Equity | 10/15 | €28,382,858 | €26,345,643 | -€2.0m | -7.2% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Capital | 10 | €2,000,000 | €2,000,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €15,623,553 | €15,459,022 | -€164,531 | -1.1% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,649,930 | €2,485,399 | -€164,531 | -6.2% |
| Distributable reserves | 133 | €12,773,623 | €12,773,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,759,305 | €8,886,621 | -€1.9m | -17.4% |
| Provisions and deferred taxes | 16 | €706,673 | €651,829 | -€54,844 | -7.8% |
| Deferred taxes | 168 | €706,673 | €651,829 | -€54,844 | -7.8% |
| Amounts payable | 17/49 | €26,858,101 | €27,707,353 | +€849,252 | +3.2% |
| Amounts payable after more than one year | 17 | €8,896,677 | €11,760,029 | +€2.9m | +32.2% |
| Financial debts | 170/4 | €8,885,911 | €11,736,588 | +€2.9m | +32.1% |
| Leasing and similar obligations | 172 | €198,985 | €112,483 | -€86,502 | -43.5% |
| Credit institutions | 173 | €8,686,925 | €11,624,105 | +€2.9m | +33.8% |
| Other amounts payable | 178/9 | €10,766 | €23,441 | +€12,675 | +118% |
| Amounts payable within one year | 42/48 | €17,813,929 | €15,723,695 | -€2.1m | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €2,545,916 | €1,638,592 | -€907,324 | -35.6% |
| Financial debts | 43 | €11,638,514 | €11,302,701 | -€335,813 | -2.9% |
| Credit institutions | 430/8 | €11,638,514 | €11,302,701 | -€335,813 | -2.9% |
| Trade debts | 44 | €237,571 | €102,156 | -€135,415 | -57.0% |
| Suppliers | 440/4 | €237,571 | €102,156 | -€135,415 | -57.0% |
| Advances received on contracts in progress | 46 | €2,393 | €0 | -€2,393 | -100% |
| Taxes, remuneration and social security | 45 | €147,903 | €107,798 | -€40,105 | -27.1% |
| Taxes | 450/3 | €132,807 | €92,877 | -€39,931 | -30.1% |
| Remuneration and social security | 454/9 | €15,096 | €14,922 | -€174 | -1.2% |
| Other amounts payable | 47/48 | €3,241,632 | €2,572,448 | -€669,184 | -20.6% |
| Accrued charges and deferred income | 492/3 | €147,496 | €223,629 | +€76,133 | +51.6% |
| Operating income | 70/76A | €4,612,051 | €2,074,629 | -€2.5m | -55.0% |
| Turnover | 70 | €1,600,432 | €1,609,901 | +€9,469 | +0.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€312,125 | €0 | +€312,125 | |
| Other operating income | 74 | €3,204,059 | €464,728 | -€2.7m | -85.5% |
| Non-recurring operating income | 76A | €119,685 | €0 | -€119,685 | -100% |
| Operating charges | 60/66A | €1,855,335 | €1,863,517 | +€8,182 | +0.4% |
| Goods for resale, raw materials and consumables | 60 | €0 | - | = | |
| Purchases | 600/8 | €0 | €75,709 | +€75,709 | |
| Change in stocks: decrease (increase) | 609 | €0 | -€75,709 | -€75,709 | |
| Services and other goods | 61 | €765,594 | €736,085 | -€29,509 | -3.9% |
| Remuneration, social security and pensions | 62 | €148,841 | €146,647 | -€2,194 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €703,401 | €794,706 | +€91,305 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,967 | €0 | -€56,967 | -100% |
| Other operating charges | 640/8 | €180,532 | €186,078 | +€5,546 | +3.1% |
| Operating profit (loss) | 9901 | €2,756,717 | €211,113 | -€2.5m | -92.3% |
| Financial income | 75/76B | €1,306,230 | €1,155,356 | -€150,873 | -11.6% |
| Recurring financial income | 75 | €1,306,230 | €1,155,356 | -€150,873 | -11.6% |
| Income from financial fixed assets | 750 | €505,994 | €314,869 | -€191,125 | -37.8% |
| Income from current assets | 751 | €421,651 | €840,182 | +€418,531 | +99.3% |
| Other financial income | 752/9 | €378,585 | €306 | -€378,279 | -99.9% |
| Financial charges | 65/66B | €1,055,079 | €949,422 | -€105,657 | -10.0% |
| Recurring financial charges | 65 | €1,055,079 | €949,422 | -€105,657 | -10.0% |
| Debt charges | 650 | €1,045,114 | €937,412 | -€107,702 | -10.3% |
| Other financial charges | 652/9 | €9,965 | €12,010 | +€2,045 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €3,007,867 | €417,047 | -€2.6m | -86.1% |
| Transfer from deferred taxes | 780 | €78,500 | €54,844 | -€23,656 | -30.1% |
| Income taxes | 67/77 | €696,239 | €109,105 | -€587,134 | -84.3% |
| Taxes | 670/3 | €696,239 | €109,105 | -€587,134 | -84.3% |
| Profit (loss) for the period | 9904 | €2,390,128 | €362,785 | -€2.0m | -84.8% |
| Transfer from tax-exempt reserves | 789 | €235,500 | €164,531 | -€70,969 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,625,628 | €527,316 | -€2.1m | -79.9% |
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 13 October 2026 via checked.be.