SOENEN: 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.
SOENEN
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+48.9%), from €2.2m to €3.2m
of which Other amounts receivable: +€1.1m
- Stocks and contracts -€369,898
down €369,898 (-14.8%), from €2.5m to €2.1m
- Tangible fixed assets -€229,864
down €229,864 (-7.7%), from €3.0m to €2.8m
of which Land and buildings: -€190,707
- Current investments -€228,985
down €228,985 (-98.3%), from €232,987 to €4,002
- Trade debts +€429,989
up €429,989 (+3132.5%), from €13,727 to €443,716
- Other debts -€156,281
down €156,281 (-41.3%), from €377,992 to €221,711
- Reserves +€141,681
up €141,681 (+13.9%), from €1.0m to €1.2m
- Debts after one year -€88,943
down €88,943 (-10.7%), from €833,366 to €744,422
- Financial income +€30,081
up €30,081 (+63.1%), from €47,698 to €77,778
- Taxes +€26,972
up €26,972 (+58.5%), from €46,135 to €73,107
- Depreciation +€19,661
up €19,661 (+9.0%), from €218,551 to €238,212
- Gross operating margin -€18,553
down €18,553 (-4.0%), from €469,651 to €451,098
- Financial charges -€14,394
down €14,394 (-18.4%), from €78,084 to €63,690
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 | €7,981,447 | €8,332,650 | +€351,203 | +4.4% |
| Fixed assets | 21/28 | €3,006,342 | €2,775,978 | -€230,364 | -7.7% |
| Intangible fixed assets | 21 | €4,053 | €3,553 | -€500 | -12.3% |
| Tangible fixed assets | 22/27 | €3,002,288 | €2,772,424 | -€229,864 | -7.7% |
| Land and buildings | 22 | €2,729,160 | €2,538,453 | -€190,707 | -7.0% |
| Plant, machinery and equipment | 23 | €236,042 | €206,905 | -€29,137 | -12.3% |
| Furniture and vehicles | 24 | €37,086 | €27,066 | -€10,019 | -27.0% |
| Current assets | 29/58 | €4,975,105 | €5,556,673 | +€581,567 | +11.7% |
| Stocks and contracts in progress | 3 | €2,500,285 | €2,130,387 | -€369,898 | -14.8% |
| Stocks | 30/36 | €2,500,285 | €2,130,387 | -€369,898 | -14.8% |
| Amounts receivable within one year | 40/41 | €2,176,328 | €3,240,121 | +€1.1m | +48.9% |
| Trade receivables | 40 | €296,320 | €279,160 | -€17,160 | -5.8% |
| Other amounts receivable | 41 | €1,880,008 | €2,960,961 | +€1.1m | +57.5% |
| Current investments | 50/53 | €232,987 | €4,002 | -€228,985 | -98.3% |
| Cash at bank and in hand | 54/58 | €53,656 | €98,291 | +€44,635 | +83.2% |
| Deferred charges and accrued income | 490/1 | €11,849 | €83,871 | +€72,022 | +607.8% |
| Total equity and liabilities | 10/49 | €7,981,447 | €8,332,650 | +€351,203 | +4.4% |
| Equity | 10/15 | €6,104,659 | €6,246,340 | +€141,681 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,018,585 | €1,160,265 | +€141,681 | +13.9% |
| Distributable reserves | 133 | €1,018,585 | €1,160,265 | +€141,681 | +13.9% |
| Profit (loss) carried forward | 14 | €5,067,474 | €5,067,474 | +€0 | 0.0% |
| Amounts payable | 17/49 | €1,876,788 | €2,086,311 | +€209,523 | +11.2% |
| Amounts payable after more than one year | 17 | €833,366 | €744,422 | -€88,943 | -10.7% |
| Financial debts | 170/4 | €833,366 | €744,422 | -€88,943 | -10.7% |
| Amounts payable within one year | 42/48 | €1,040,045 | €1,334,656 | +€294,611 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €92,067 | €96,181 | +€4,114 | +4.5% |
| Financial debts | 43 | €500,455 | €500,004 | -€451 | -0.1% |
| Credit institutions | 430/8 | €500,455 | €500,004 | -€451 | -0.1% |
| Trade debts | 44 | €13,727 | €443,716 | +€429,989 | +3132.5% |
| Suppliers | 440/4 | €13,727 | €443,716 | +€429,989 | +3132.5% |
| Taxes, remuneration and social security | 45 | €55,804 | €73,044 | +€17,240 | +30.9% |
| Taxes | 450/3 | €55,646 | €73,044 | +€17,398 | +31.3% |
| Remuneration and social security | 454/9 | €158 | €0 | -€158 | -100.0% |
| Other amounts payable | 47/48 | €377,992 | €221,711 | -€156,281 | -41.3% |
| Accrued charges and deferred income | 492/3 | €3,378 | €7,232 | +€3,854 | +114.1% |
| Non-recurring operating income | 76A | - | €9,246 | +€9,246 | |
| Remuneration, social security and pensions | 62 | €1,412 | €1,619 | +€207 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,551 | €238,212 | +€19,661 | +9.0% |
| Other operating charges | 640/8 | €21,660 | €10,567 | -€11,093 | -51.2% |
| Gross operating margin | 9900 | €469,651 | €451,098 | -€18,553 | -4.0% |
| Operating profit (loss) | 9901 | €228,029 | €200,700 | -€27,329 | -12.0% |
| Financial income | 75/76B | €47,698 | €77,778 | +€30,081 | +63.1% |
| Recurring financial income | 75 | €47,698 | €77,778 | +€30,081 | +63.1% |
| Financial charges | 65/66B | €78,084 | €63,690 | -€14,394 | -18.4% |
| Recurring financial charges | 65 | €78,084 | €63,690 | -€14,394 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €197,642 | €214,788 | +€17,146 | +8.7% |
| Income taxes | 67/77 | €46,135 | €73,107 | +€26,972 | +58.5% |
| Profit (loss) for the period | 9904 | €151,507 | €141,681 | -€9,826 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €151,507 | €141,681 | -€9,826 | -6.5% |
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 8 October 2026 via checked.be.