SODA PROJECT: 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.
SODA PROJECT
Largest movements
- Receivables within one year -€50,806
down €50,806 (-95.3%), from €53,293 to €2,487
of which Trade receivables: -€50,713
- Cash -€5,752
down €5,752 (-47.6%), from €12,096 to €6,345
mainly Other debts (-€66,901) and Deferred charges and accrued income (-€1,009)
- Deferred charges and accrued income +€1,009
new in 2025: €1,009
- Tangible fixed assets -€716
down €716 (-79.9%), from €896 to €180
- Other debts -€66,901
down €66,901 (-71.0%), from €94,277 to €27,376
- Profit (loss) carried forward +€9,460
up €9,460 (+14.6%), from -€64,808 to -€55,348
- Trade debts +€1,576
up €1,576 (+9.9%), from €15,957 to €17,533
- Gross operating margin -€10,890
down €10,890 (-49.4%), from €22,024 to €11,134
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 | €66,285 | €10,020 | -€56,265 | -84.9% |
| Fixed assets | 21/28 | €896 | €180 | -€716 | -79.9% |
| Tangible fixed assets | 22/27 | €896 | €180 | -€716 | -79.9% |
| Furniture and vehicles | 24 | €896 | €180 | -€716 | -79.9% |
| Current assets | 29/58 | €65,389 | €9,840 | -€55,549 | -85.0% |
| Amounts receivable within one year | 40/41 | €53,293 | €2,487 | -€50,806 | -95.3% |
| Trade receivables | 40 | €52,825 | €2,112 | -€50,713 | -96.0% |
| Other amounts receivable | 41 | €468 | €375 | -€93 | -19.8% |
| Cash at bank and in hand | 54/58 | €12,096 | €6,345 | -€5,752 | -47.6% |
| Deferred charges and accrued income | 490/1 | - | €1,009 | +€1,009 | |
| Total equity and liabilities | 10/49 | €66,285 | €10,020 | -€56,265 | -84.9% |
| Equity | 10/15 | -€44,348 | -€34,888 | +€9,460 | +21.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,808 | -€55,348 | +€9,460 | +14.6% |
| Amounts payable | 17/49 | €110,633 | €44,909 | -€65,724 | -59.4% |
| Amounts payable within one year | 42/48 | €110,633 | €44,909 | -€65,724 | -59.4% |
| Trade debts | 44 | €15,957 | €17,533 | +€1,576 | +9.9% |
| Suppliers | 440/4 | €15,957 | €17,533 | +€1,576 | +9.9% |
| Taxes, remuneration and social security | 45 | €399 | - | -€399 | |
| Taxes | 450/3 | €399 | - | -€399 | |
| Other amounts payable | 47/48 | €94,277 | €27,376 | -€66,901 | -71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €716 | €716 | = | 0.0% |
| Other operating charges | 640/8 | €836 | €868 | +€32 | +3.8% |
| Gross operating margin | 9900 | €22,024 | €11,134 | -€10,890 | -49.4% |
| Operating profit (loss) | 9901 | €20,472 | €9,550 | -€10,922 | -53.4% |
| Financial charges | 65/66B | €234 | €90 | -€144 | -61.5% |
| Recurring financial charges | 65 | €234 | €90 | -€144 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €20,238 | €9,460 | -€10,778 | -53.3% |
| Profit (loss) for the period | 9904 | €20,238 | €9,460 | -€10,778 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,238 | €9,460 | -€10,778 | -53.3% |
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 14 October 2026 via checked.be.