SODEL: 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.
SODEL
Largest movements
- Cash +€43,022
up €43,022 (+588%), from €7,316 to €50,338
mainly Net result for the year (+€42,753) and Depreciation (+€3,669)
- Receivables within one year -€3,456
down €3,456 (-15.3%), from €22,614 to €19,158
of which Other amounts receivable: -€3,456
- Tangible fixed assets -€2,357
down €2,357 (-22.8%), from €10,322 to €7,964
of which Furniture and vehicles: -€1,409
- Profit (loss) carried forward +€42,753
up €42,753 (+73.3%), from -€58,344 to -€15,591
- Short-term financial debts -€5,461
down €5,461 (-100%), from €5,461 to €0
- Debts after one year -€2,884
down €2,884 (-62.5%), from €4,616 to €1,731
- Tax, wage and social debts +€2,314
up €2,314 (+4.0%), from €58,177 to €60,491
of which Remuneration and social security: +€1,978
- Gross operating margin +€38,864
up €38,864 (+19.6%), from €198,742 to €237,606
- Staff costs -€13,854
down €13,854 (-7.4%), from €187,367 to €173,513
- Taxes +€2,623
up €2,623 (+2,050%), from €128 to €2,751
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 | €51,886 | €88,336 | +€36,450 | +70.3% |
| Fixed assets | 21/28 | €11,222 | €8,864 | -€2,357 | -21.0% |
| Tangible fixed assets | 22/27 | €10,322 | €7,964 | -€2,357 | -22.8% |
| Plant, machinery and equipment | 23 | €5,054 | €4,105 | -€949 | -18.8% |
| Furniture and vehicles | 24 | €5,268 | €3,859 | -€1,409 | -26.7% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €40,664 | €79,471 | +€38,807 | +95.4% |
| Stocks and contracts in progress | 3 | €10,734 | €9,975 | -€759 | -7.1% |
| Stocks | 30/36 | €10,734 | €9,975 | -€759 | -7.1% |
| Amounts receivable within one year | 40/41 | €22,614 | €19,158 | -€3,456 | -15.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €22,614 | €19,158 | -€3,456 | -15.3% |
| Cash at bank and in hand | 54/58 | €7,316 | €50,338 | +€43,022 | +588% |
| Total equity and liabilities | 10/49 | €51,886 | €88,336 | +€36,450 | +70.3% |
| Equity | 10/15 | -€37,792 | €4,961 | +€42,753 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,960 | €1,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,960 | €1,960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,960 | €1,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,344 | -€15,591 | +€42,753 | +73.3% |
| Amounts payable | 17/49 | €89,678 | €83,375 | -€6,303 | -7.0% |
| Amounts payable after more than one year | 17 | €4,616 | €1,731 | -€2,884 | -62.5% |
| Financial debts | 170/4 | €4,616 | €1,731 | -€2,884 | -62.5% |
| Amounts payable within one year | 42/48 | €85,062 | €81,643 | -€3,419 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €2,782 | €2,884 | +€103 | +3.7% |
| Financial debts | 43 | €5,461 | €0 | -€5,461 | -100% |
| Credit institutions | 430/8 | €5,461 | €0 | -€5,461 | -100% |
| Trade debts | 44 | €7,913 | €7,067 | -€845 | -10.7% |
| Suppliers | 440/4 | €7,913 | €7,067 | -€845 | -10.7% |
| Taxes, remuneration and social security | 45 | €58,177 | €60,491 | +€2,314 | +4.0% |
| Taxes | 450/3 | €9,478 | €9,814 | +€336 | +3.5% |
| Remuneration and social security | 454/9 | €48,698 | €50,677 | +€1,978 | +4.1% |
| Other amounts payable | 47/48 | €10,731 | €11,201 | +€470 | +4.4% |
| Remuneration, social security and pensions | 62 | €187,367 | €173,513 | -€13,854 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,360 | €3,669 | +€309 | +9.2% |
| Other operating charges | 640/8 | €6,284 | €7,636 | +€1,352 | +21.5% |
| Non-recurring operating charges | 66A | €316 | €0 | -€316 | -100% |
| Gross operating margin | 9900 | €198,742 | €237,606 | +€38,864 | +19.6% |
| Operating profit (loss) | 9901 | €1,415 | €52,788 | +€51,373 | +3,631% |
| Financial income | 75/76B | €482 | €486 | +€4 | +0.9% |
| Recurring financial income | 75 | €482 | €486 | +€4 | +0.9% |
| Financial charges | 65/66B | €7,263 | €7,769 | +€506 | +7.0% |
| Recurring financial charges | 65 | €7,263 | €7,769 | +€506 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,366 | €45,505 | +€50,871 | |
| Income taxes | 67/77 | €128 | €2,751 | +€2,623 | +2,050% |
| Profit (loss) for the period | 9904 | -€5,494 | €42,753 | +€48,247 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,494 | €42,753 | +€48,247 |
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 22 October 2026 via checked.be.