SODER: 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.
SODER
Largest movements
- Cash -€21,802
down €21,802 (-5.1%), from €426,917 to €405,115
mainly Contributions, distributions and other (-€74,200) and Receivables within one year (-€18,912)
- Receivables within one year +€18,912
up €18,912 (+28.2%), from €67,166 to €86,078
of which Trade receivables: +€19,268
- Tangible fixed assets -€10,063
down €10,063 (-12.6%), from €79,698 to €69,635
of which Plant, machinery and equipment: -€5,386
- Other debts -€6,000
down €6,000 (-7.5%), from €80,200 to €74,200
- Other operating charges +€3,451
up €3,451 (+9.6%), from €35,923 to €39,373
- Gross operating margin -€2,649
down €2,649 (-1.6%), from €162,584 to €159,935
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 | €573,828 | €560,875 | -€12,954 | -2.3% |
| Fixed assets | 21/28 | €79,745 | €69,682 | -€10,063 | -12.6% |
| Tangible fixed assets | 22/27 | €79,698 | €69,635 | -€10,063 | -12.6% |
| Land and buildings | 22 | €69,617 | €64,940 | -€4,677 | -6.7% |
| Plant, machinery and equipment | 23 | €10,081 | €4,694 | -€5,386 | -53.4% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €494,083 | €491,193 | -€2,890 | -0.6% |
| Amounts receivable within one year | 40/41 | €67,166 | €86,078 | +€18,912 | +28.2% |
| Trade receivables | 40 | €59,190 | €78,457 | +€19,268 | +32.6% |
| Other amounts receivable | 41 | €7,976 | €7,620 | -€356 | -4.5% |
| Cash at bank and in hand | 54/58 | €426,917 | €405,115 | -€21,802 | -5.1% |
| Total equity and liabilities | 10/49 | €573,828 | €560,875 | -€12,954 | -2.3% |
| Equity | 10/15 | €407,516 | €408,004 | +€488 | +0.1% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Revaluation surpluses | 12 | €2,538 | €2,538 | = | 0.0% |
| Reserves | 13 | €231,453 | €231,940 | +€488 | +0.2% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Legal reserve | 130 | €17,353 | €17,353 | = | 0.0% |
| Tax-exempt reserves | 132 | €665 | €665 | = | 0.0% |
| Distributable reserves | 133 | €213,435 | €213,923 | +€488 | +0.2% |
| Amounts payable | 17/49 | €166,312 | €152,871 | -€13,442 | -8.1% |
| Amounts payable within one year | 42/48 | €166,312 | €152,871 | -€13,442 | -8.1% |
| Trade debts | 44 | €55,315 | €52,130 | -€3,185 | -5.8% |
| Suppliers | 440/4 | €55,315 | €52,130 | -€3,185 | -5.8% |
| Taxes, remuneration and social security | 45 | €30,797 | €26,541 | -€4,256 | -13.8% |
| Taxes | 450/3 | €30,797 | €26,541 | -€4,256 | -13.8% |
| Other amounts payable | 47/48 | €80,200 | €74,200 | -€6,000 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,063 | €10,063 | -€0 | 0.0% |
| Other operating charges | 640/8 | €35,923 | €39,373 | +€3,451 | +9.6% |
| Gross operating margin | 9900 | €162,584 | €159,935 | -€2,649 | -1.6% |
| Operating profit (loss) | 9901 | €116,598 | €110,499 | -€6,099 | -5.2% |
| Financial income | 75/76B | €1,725 | €1,732 | +€7 | +0.4% |
| Recurring financial income | 75 | €1,725 | €1,732 | +€7 | +0.4% |
| Financial charges | 65/66B | €43 | €40 | -€3 | -6.8% |
| Recurring financial charges | 65 | €43 | €40 | -€3 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €118,280 | €112,191 | -€6,089 | -5.1% |
| Income taxes | 67/77 | €37,556 | €37,503 | -€53 | -0.1% |
| Profit (loss) for the period | 9904 | €80,724 | €74,688 | -€6,036 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,724 | €74,688 | -€6,036 | -7.5% |
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 29 September 2026 via checked.be.