SODES: 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
SODES
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,753
2024 · -€19,975+€53,727
Equity
€1.4m
2024 · €1.4m+€33,753
Cash
€31,940
2024 · €22,177+€9,763
Balance sheet total
€1.9m
2024 · €1.8m+€100,759
Largest movements
Assets
- Stocks and contracts +€195,041
up €195,041 (+1,962%), from €9,940 to €204,981
- Tangible fixed assets -€117,145
down €117,145 (-6.7%), from €1.7m to €1.6m
of which Furniture and vehicles: -€62,862
Equity and liabilities
- Short-term financial debts +€125,000
new in 2025: €125,000
- Other debts -€40,463
down €40,463 (-35.4%), from €114,325 to €73,862
- Profit (loss) carried forward +€38,982
up €38,982 (+9.1%), from €426,794 to €465,777
- Debts after one year -€37,870
down €37,870 (-20.9%), from €180,868 to €142,998
Income statement
- Gross operating margin +€73,595
up €73,595 (+101%), from €72,591 to €146,185
- Other operating charges +€15,084
up €15,084 (+75.4%), from €19,994 to €35,078
- Depreciation +€2,713
up €2,713 (+3.8%), from €71,355 to €74,068
- Financial charges +€1,638
up €1,638 (+50.8%), from €3,225 to €4,862
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
-€19,975
Gross operating margin
+€73,595
Depreciation
-€2,713
Other operating charges
-€15,084
Financial income
-€496
Financial charges
-€1,638
Taxes
+€64
Result 2025
€33,753
raises the resultlowers the result
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
-€120,917
Investment
+€43,077
Financing
+€87,603
Cash 2024
€22,177
From operations (derived)
-€120,917
Net result for the year
+€33,753
Depreciation
+€74,068
Stocks and contracts
-€195,041
Receivables within one year
-€12,049
Deferred charges and accrued income
-€1,051
Provisions
-€1,743
Trade debts
+€1,633
Tax, wage and social debts
+€13,452
Other debts
-€40,463
Accrued charges and deferred income
+€6,525
Investment (derived)
+€43,077
Investment in fixed assets (net)
+€43,077
Financing
+€87,603
Debts after one year
-€37,870
Current portion of long-term debt
+€473
Short-term financial debts
+€125,000
Cash 2025
€31,940
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,777,034 | €1,877,792 | +€100,759 | +5.7% |
| Fixed assets | 21/28 | €1,743,398 | €1,626,253 | -€117,145 | -6.7% |
| Tangible fixed assets | 22/27 | €1,743,098 | €1,625,953 | -€117,145 | -6.7% |
| Land and buildings | 22 | €1,679,234 | €1,623,673 | -€55,560 | -3.3% |
| Plant, machinery and equipment | 23 | - | €1,278 | +€1,278 | |
| Furniture and vehicles | 24 | €63,864 | €1,002 | -€62,862 | -98.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €33,636 | €251,540 | +€217,904 | +648% |
| Stocks and contracts in progress | 3 | €9,940 | €204,981 | +€195,041 | +1,962% |
| Stocks | 30/36 | €9,940 | €204,981 | +€195,041 | +1,962% |
| Amounts receivable within one year | 40/41 | - | €12,049 | +€12,049 | |
| Trade receivables | 40 | - | €12,032 | +€12,032 | |
| Other amounts receivable | 41 | - | €17 | +€17 | |
| Cash at bank and in hand | 54/58 | €22,177 | €31,940 | +€9,763 | +44.0% |
| Deferred charges and accrued income | 490/1 | €1,519 | €2,570 | +€1,051 | +69.2% |
| Total equity and liabilities | 10/49 | €1,777,034 | €1,877,792 | +€100,759 | +5.7% |
| Equity | 10/15 | €1,399,981 | €1,433,734 | +€33,753 | +2.4% |
| Contributions | 10/11 | €197,870 | €197,870 | = | 0.0% |
| Reserves | 13 | €775,317 | €770,087 | -€5,230 | -0.7% |
| Non-distributable reserves | 130/1 | €19,787 | €19,787 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,787 | €19,787 | = | 0.0% |
| Tax-exempt reserves | 132 | €139,929 | €134,699 | -€5,230 | -3.7% |
| Distributable reserves | 133 | €615,601 | €615,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | €426,794 | €465,777 | +€38,982 | +9.1% |
| Provisions and deferred taxes | 16 | €25,829 | €24,086 | -€1,743 | -6.7% |
| Deferred taxes | 168 | €25,829 | €24,086 | -€1,743 | -6.7% |
| Amounts payable | 17/49 | €351,223 | €419,973 | +€68,749 | +19.6% |
| Amounts payable after more than one year | 17 | €180,868 | €142,998 | -€37,870 | -20.9% |
| Financial debts | 170/4 | €180,868 | €142,998 | -€37,870 | -20.9% |
| Amounts payable within one year | 42/48 | €170,355 | €270,450 | +€100,095 | +58.8% |
| Current portion of amounts payable after more than one year | 42 | €37,397 | €37,870 | +€473 | +1.3% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €8,256 | €9,889 | +€1,633 | +19.8% |
| Suppliers | 440/4 | €8,256 | €9,889 | +€1,633 | +19.8% |
| Taxes, remuneration and social security | 45 | €10,376 | €23,829 | +€13,452 | +130% |
| Taxes | 450/3 | €10,376 | €23,829 | +€13,452 | +130% |
| Other amounts payable | 47/48 | €114,325 | €73,862 | -€40,463 | -35.4% |
| Accrued charges and deferred income | 492/3 | - | €6,525 | +€6,525 | |
| Non-recurring operating income | 76A | - | €30,215 | +€30,215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,355 | €74,068 | +€2,713 | +3.8% |
| Other operating charges | 640/8 | €19,994 | €35,078 | +€15,084 | +75.4% |
| Gross operating margin | 9900 | €72,591 | €146,185 | +€73,595 | +101% |
| Operating profit (loss) | 9901 | -€18,758 | €37,039 | +€55,797 | |
| Financial income | 75/76B | €526 | €30 | -€496 | -94.2% |
| Recurring financial income | 75 | €526 | €30 | -€496 | -94.2% |
| Financial charges | 65/66B | €3,225 | €4,862 | +€1,638 | +50.8% |
| Recurring financial charges | 65 | €3,225 | €4,862 | +€1,638 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | -€21,456 | €32,207 | +€53,664 | |
| Transfer from deferred taxes | 780 | €1,743 | €1,743 | = | 0.0% |
| Income taxes | 67/77 | €262 | €198 | -€64 | -24.4% |
| Profit (loss) for the period | 9904 | -€19,975 | €33,753 | +€53,727 | |
| Transfer from tax-exempt reserves | 789 | €5,230 | €5,230 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,745 | €38,982 | +€53,727 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.