SOEDEVO: 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.
SOEDEVO
Largest movements
- Cash +€5,738
up €5,738 (+7.3%), from €79,007 to €84,744
mainly Net result for the year (+€14,167) and Depreciation (+€4,694)
- Receivables within one year +€3,350
up €3,350 (+28.7%), from €11,656 to €15,006
- Reserves +€12,501
up €12,501 (+25.9%), from €48,258 to €60,759
- Debts after one year -€4,680
down €4,680 (-33.4%), from €13,996 to €9,316
- Trade debts +€2,606
up €2,606 (+126.0%), from €2,067 to €4,673
- Tax, wage and social debts -€2,282
down €2,282 (-15.3%), from €14,962 to €12,680
of which Remuneration and social security: -€3,845
- Accrued charges and deferred income +€1,679
up €1,679 (+122.1%), from €1,375 to €3,054
- Staff costs +€6,509
up €6,509 (+16.5%), from €39,501 to €46,011
- Depreciation -€3,556
down €3,556 (-43.1%), from €8,251 to €4,694
- Gross operating margin +€1,074
up €1,074 (+1.5%), from €71,515 to €72,589
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 | €107,450 | €116,603 | +€9,152 | +8.5% |
| Fixed assets | 21/28 | €15,852 | €15,079 | -€773 | -4.9% |
| Tangible fixed assets | 22/27 | €15,852 | €15,079 | -€773 | -4.9% |
| Plant, machinery and equipment | 23 | €11,901 | €8,820 | -€3,081 | -25.9% |
| Furniture and vehicles | 24 | €3,951 | €6,258 | +€2,308 | +58.4% |
| Current assets | 29/58 | €91,598 | €101,524 | +€9,926 | +10.8% |
| Amounts receivable within one year | 40/41 | €11,656 | €15,006 | +€3,350 | +28.7% |
| Trade receivables | 40 | €11,656 | €15,006 | +€3,350 | +28.7% |
| Cash at bank and in hand | 54/58 | €79,007 | €84,744 | +€5,738 | +7.3% |
| Deferred charges and accrued income | 490/1 | €936 | €1,773 | +€838 | +89.5% |
| Total equity and liabilities | 10/49 | €107,450 | €116,603 | +€9,152 | +8.5% |
| Equity | 10/15 | €54,458 | €66,959 | +€12,501 | +23.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,258 | €60,759 | +€12,501 | +25.9% |
| Distributable reserves | 133 | €48,258 | €60,759 | +€12,501 | +25.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €52,992 | €49,644 | -€3,348 | -6.3% |
| Amounts payable after more than one year | 17 | €13,996 | €9,316 | -€4,680 | -33.4% |
| Financial debts | 170/4 | €13,996 | €9,316 | -€4,680 | -33.4% |
| Amounts payable within one year | 42/48 | €37,621 | €37,274 | -€348 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €4,561 | €4,680 | +€120 | +2.6% |
| Trade debts | 44 | €2,067 | €4,673 | +€2,606 | +126.0% |
| Suppliers | 440/4 | €2,067 | €4,673 | +€2,606 | +126.0% |
| Taxes, remuneration and social security | 45 | €14,962 | €12,680 | -€2,282 | -15.3% |
| Taxes | 450/3 | €6,522 | €8,084 | +€1,563 | +24.0% |
| Remuneration and social security | 454/9 | €8,441 | €4,596 | -€3,845 | -45.6% |
| Other amounts payable | 47/48 | €16,031 | €15,241 | -€790 | -4.9% |
| Accrued charges and deferred income | 492/3 | €1,375 | €3,054 | +€1,679 | +122.1% |
| Remuneration, social security and pensions | 62 | €39,501 | €46,011 | +€6,509 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,251 | €4,694 | -€3,556 | -43.1% |
| Other operating charges | 640/8 | €286 | €692 | +€406 | +142.2% |
| Gross operating margin | 9900 | €71,515 | €72,589 | +€1,074 | +1.5% |
| Operating profit (loss) | 9901 | €23,478 | €21,193 | -€2,285 | -9.7% |
| Financial income | 75/76B | €126 | €0 | -€126 | -100.0% |
| Recurring financial income | 75 | €126 | €0 | -€126 | -100.0% |
| Financial charges | 65/66B | €2,072 | €1,661 | -€410 | -19.8% |
| Recurring financial charges | 65 | €2,072 | €1,661 | -€410 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €21,532 | €19,531 | -€2,001 | -9.3% |
| Income taxes | 67/77 | €5,924 | €5,364 | -€559 | -9.4% |
| Profit (loss) for the period | 9904 | €15,608 | €14,167 | -€1,441 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,608 | €14,167 | -€1,441 | -9.2% |
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 12 October 2026 via checked.be.