SOERS: 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.
SOERS
Largest movements
- Financial fixed assets -€1.4m
down €1.4m (-99.8%), from €1.4m to €3,150
- Current investments +€454,169
up €454,169 (+176.0%), from €258,116 to €712,285
- Cash -€395,979
down €395,979 (-47.8%), from €827,932 to €431,953
mainly Contributions, distributions and other (-€909,038) and Current investments (-€454,169)
- Receivables within one year +€343,409
up €343,409 (+1371.2%), from €25,044 to €368,453
of which Other amounts receivable: +€289,404
- Tangible fixed assets -€82,448
down €82,448 (-3.9%), from €2.1m to €2.0m
of which Land and buildings: -€77,405
- Reserves -€894,593
down €894,593 (-36.5%), from €2.4m to €1.6m
of which Distributable reserves: -€872,877
- Other debts -€434,714
down €434,714 (-34.8%), from €1.2m to €812,981
- Tax, wage and social debts +€311,885
up €311,885 (+7997.1%), from €3,900 to €315,785
of which Taxes: +€311,864
- Debts after one year -€90,000
down €90,000 (-12.2%), from €735,000 to €645,000
- Financial charges -€17,340
down €17,340 (-33.1%), from €52,357 to €35,017
of which Financial charges: -€17,340
- Gross operating margin +€13,150
up €13,150 (+9.9%), from €133,248 to €146,398
- Taxes +€10,393
up €10,393, from -€3,026 to €7,367
- Financial income -€9,329
down €9,329 (-76.4%), from €12,216 to €2,887
- Depreciation -€1,759
down €1,759 (-2.1%), from €84,206 to €82,447
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 | €4,632,486 | €3,541,374 | -€1.1m | -23.6% |
| Fixed assets | 21/28 | €3,515,128 | €2,019,838 | -€1.5m | -42.5% |
| Tangible fixed assets | 22/27 | €2,099,136 | €2,016,688 | -€82,448 | -3.9% |
| Land and buildings | 22 | €2,076,478 | €1,999,073 | -€77,405 | -3.7% |
| Furniture and vehicles | 24 | €16,857 | €11,815 | -€5,042 | -29.9% |
| Other tangible fixed assets | 26 | €5,800 | €5,800 | -€0 | 0.0% |
| Financial fixed assets | 28 | €1,415,993 | €3,150 | -€1.4m | -99.8% |
| Current assets | 29/58 | €1,117,357 | €1,521,536 | +€404,179 | +36.2% |
| Amounts receivable within one year | 40/41 | €25,044 | €368,453 | +€343,409 | +1371.2% |
| Trade receivables | 40 | €20,000 | €74,005 | +€54,005 | +270.0% |
| Other amounts receivable | 41 | €5,044 | €294,448 | +€289,404 | +5737.1% |
| Current investments | 50/53 | €258,116 | €712,285 | +€454,169 | +176.0% |
| Cash at bank and in hand | 54/58 | €827,932 | €431,953 | -€395,979 | -47.8% |
| Deferred charges and accrued income | 490/1 | €6,265 | €8,844 | +€2,579 | +41.2% |
| Total equity and liabilities | 10/49 | €4,632,486 | €3,541,374 | -€1.1m | -23.6% |
| Equity | 10/15 | €2,511,634 | €1,617,041 | -€894,593 | -35.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,449,634 | €1,555,041 | -€894,593 | -36.5% |
| Non-distributable reserves | 130/1 | €60,000 | €38,284 | -€21,716 | -36.2% |
| Legal reserve | 130 | €60,000 | €38,284 | -€21,716 | -36.2% |
| Distributable reserves | 133 | €2,389,634 | €1,516,757 | -€872,877 | -36.5% |
| Amounts payable | 17/49 | €2,120,851 | €1,924,333 | -€196,518 | -9.3% |
| Amounts payable after more than one year | 17 | €735,000 | €645,000 | -€90,000 | -12.2% |
| Financial debts | 170/4 | €735,000 | €645,000 | -€90,000 | -12.2% |
| Amounts payable within one year | 42/48 | €1,342,301 | €1,239,635 | -€102,666 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €90,000 | €90,000 | = | 0.0% |
| Trade debts | 44 | €706 | €20,870 | +€20,164 | +2857.9% |
| Suppliers | 440/4 | €706 | €20,870 | +€20,164 | +2857.9% |
| Taxes, remuneration and social security | 45 | €3,900 | €315,785 | +€311,885 | +7997.1% |
| Taxes | 450/3 | €1,225 | €313,089 | +€311,864 | +25467.9% |
| Remuneration and social security | 454/9 | €2,675 | €2,696 | +€21 | +0.8% |
| Other amounts payable | 47/48 | €1,247,695 | €812,981 | -€434,714 | -34.8% |
| Accrued charges and deferred income | 492/3 | €43,551 | €39,698 | -€3,853 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,206 | €82,447 | -€1,759 | -2.1% |
| Other operating charges | 640/8 | €10,547 | €10,009 | -€538 | -5.1% |
| Gross operating margin | 9900 | €133,248 | €146,398 | +€13,150 | +9.9% |
| Operating profit (loss) | 9901 | €38,495 | €53,942 | +€15,447 | +40.1% |
| Financial income | 75/76B | €12,216 | €2,887 | -€9,329 | -76.4% |
| Recurring financial income | 75 | €12,216 | €2,887 | -€9,329 | -76.4% |
| Financial charges | 65/66B | €52,357 | €35,017 | -€17,340 | -33.1% |
| Recurring financial charges | 65 | €52,357 | €35,017 | -€17,340 | -33.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€1,645 | €21,812 | +€23,457 | |
| Income taxes | 67/77 | -€3,026 | €7,367 | +€10,393 | |
| Profit (loss) for the period | 9904 | €1,381 | €14,445 | +€13,064 | +946.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,381 | €14,445 | +€13,064 | +946.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.