SOENEN-DEQUAE: 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.
SOENEN-DEQUAE
Largest movements
- Receivables within one year +€418,352
up €418,352 (+2,941%), from €14,223 to €432,575
of which Trade receivables: +€418,502
- Current investments -€409,892
down €409,892 (-99.4%), from €412,232 to €2,340
- Stocks and contracts +€337,189
up €337,189 (+11.0%), from €3.1m to €3.4m
- Cash +€111,033
up €111,033 (+2,327%), from €4,771 to €115,804
mainly Other debts (+€961,223) and Current investments (+€409,892)
- Other debts +€961,223
up €961,223 (+40.5%), from €2.4m to €3.3m
- Trade debts -€393,135
down €393,135 (-71.7%), from €548,545 to €155,411
- Profit (loss) carried forward -€119,164
down €119,164 (-67.9%), from €175,615 to €56,451
- Accrued charges and deferred income +€71,335
up €71,335, from €0 to €71,335
- Gross operating margin -€42,843
down €42,843, from €11,831 to -€31,011
- Financial charges +€37,536
up €37,536 (+81.7%), from €45,920 to €83,456
- Staff costs +€22,455
new in 2025: €22,455
- Financial income -€7,766
down €7,766 (-23.7%), from €32,703 to €24,938
- Other operating charges +€3,085
up €3,085 (+228%), from €1,351 to €4,436
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 | €3,671,983 | €4,170,083 | +€498,100 | +13.6% |
| Fixed assets | 21/28 | €188,251 | €225,507 | +€37,256 | +19.8% |
| Tangible fixed assets | 22/27 | €152,301 | €189,558 | +€37,256 | +24.5% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,881 | €1,623 | -€258 | -13.7% |
| Furniture and vehicles | 24 | €5,831 | €43,365 | +€37,534 | +644% |
| Other tangible fixed assets | 26 | €144,589 | €144,569 | -€20 | 0.0% |
| Financial fixed assets | 28 | €35,950 | €35,950 | = | 0.0% |
| Current assets | 29/58 | €3,483,732 | €3,944,576 | +€460,844 | +13.2% |
| Stocks and contracts in progress | 3 | €3,051,607 | €3,388,795 | +€337,189 | +11.0% |
| Stocks | 30/36 | €3,051,607 | €3,388,795 | +€337,189 | +11.0% |
| Amounts receivable within one year | 40/41 | €14,223 | €432,575 | +€418,352 | +2,941% |
| Trade receivables | 40 | €9,534 | €428,036 | +€418,502 | +4,389% |
| Other amounts receivable | 41 | €4,689 | €4,539 | -€150 | -3.2% |
| Current investments | 50/53 | €412,232 | €2,340 | -€409,892 | -99.4% |
| Cash at bank and in hand | 54/58 | €4,771 | €115,804 | +€111,033 | +2,327% |
| Deferred charges and accrued income | 490/1 | €899 | €5,061 | +€4,163 | +463% |
| Total equity and liabilities | 10/49 | €3,671,983 | €4,170,083 | +€498,100 | +13.6% |
| Equity | 10/15 | €658,215 | €539,051 | -€119,164 | -18.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €464,000 | €464,000 | = | 0.0% |
| Distributable reserves | 133 | €464,000 | €464,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,615 | €56,451 | -€119,164 | -67.9% |
| Amounts payable | 17/49 | €3,013,769 | €3,631,032 | +€617,263 | +20.5% |
| Amounts payable within one year | 42/48 | €3,013,769 | €3,559,697 | +€545,929 | +18.1% |
| Trade debts | 44 | €548,545 | €155,411 | -€393,135 | -71.7% |
| Suppliers | 440/4 | €548,545 | €155,411 | -€393,135 | -71.7% |
| Taxes, remuneration and social security | 45 | €91,738 | €69,579 | -€22,159 | -24.2% |
| Taxes | 450/3 | €91,738 | €63,869 | -€27,870 | -30.4% |
| Remuneration and social security | 454/9 | - | €5,710 | +€5,710 | |
| Other amounts payable | 47/48 | €2,373,485 | €3,334,708 | +€961,223 | +40.5% |
| Accrued charges and deferred income | 492/3 | €0 | €71,335 | +€71,335 | |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | - | €22,455 | +€22,455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,735 | €2,744 | +€1,008 | +58.1% |
| Other operating charges | 640/8 | €1,351 | €4,436 | +€3,085 | +228% |
| Gross operating margin | 9900 | €11,831 | -€31,011 | -€42,843 | |
| Operating profit (loss) | 9901 | €8,745 | -€60,646 | -€69,391 | |
| Financial income | 75/76B | €32,703 | €24,938 | -€7,766 | -23.7% |
| Recurring financial income | 75 | €32,703 | €24,938 | -€7,766 | -23.7% |
| Financial charges | 65/66B | €45,920 | €83,456 | +€37,536 | +81.7% |
| Recurring financial charges | 65 | €45,920 | €83,456 | +€37,536 | +81.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,471 | -€119,164 | -€114,693 | -2,565% |
| Income taxes | 67/77 | €663 | €0 | -€663 | -100% |
| Profit (loss) for the period | 9904 | -€5,134 | -€119,164 | -€114,030 | -2,221% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,134 | -€119,164 | -€114,030 | -2,221% |
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 25 October 2026 via checked.be.