SOETAERS: 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.
SOETAERS
Largest movements
- Receivables within one year +€24,355
up €24,355 (+129%), from €18,905 to €43,260
of which Trade receivables: +€16,779
- Current investments -€19,513
down €19,513 (-15.1%), from €129,548 to €110,036
- Tangible fixed assets -€18,126
down €18,126 (-43.3%), from €41,837 to €23,711
of which Furniture and vehicles: -€16,776
- Cash +€12,952
up €12,952 (+79.0%), from €16,389 to €29,341
mainly Other debts (+€28,266) and Current investments (+€19,513)
- Stocks and contracts +€4,997
up €4,997 (+17.9%), from €27,862 to €32,859
of which Stocks: +€2,658
- Other debts +€28,266
up €28,266 (+163%), from €17,321 to €45,587
- Reserves -€25,110
down €25,110 (-13.3%), from €188,779 to €163,669
- Trade debts +€4,756
up €4,756 (+97.7%), from €4,866 to €9,623
- Gross operating margin -€1,401
down €1,401 (-7.6%), from €18,470 to €17,069
- Depreciation -€408
down €408 (-2.2%), from €18,533 to €18,126
- Financial income +€253
up €253 (+8.2%), from €3,073 to €3,326
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 | €235,309 | €242,616 | +€7,307 | +3.1% |
| Fixed assets | 21/28 | €41,837 | €23,711 | -€18,126 | -43.3% |
| Tangible fixed assets | 22/27 | €41,837 | €23,711 | -€18,126 | -43.3% |
| Plant, machinery and equipment | 23 | €1,757 | €407 | -€1,350 | -76.8% |
| Furniture and vehicles | 24 | €40,080 | €23,304 | -€16,776 | -41.9% |
| Current assets | 29/58 | €193,472 | €218,905 | +€25,432 | +13.1% |
| Stocks and contracts in progress | 3 | €27,862 | €32,859 | +€4,997 | +17.9% |
| Stocks | 30/36 | €25,362 | €28,020 | +€2,658 | +10.5% |
| Contracts in progress | 37 | €2,500 | €4,839 | +€2,339 | +93.6% |
| Amounts receivable within one year | 40/41 | €18,905 | €43,260 | +€24,355 | +129% |
| Trade receivables | 40 | €13,862 | €30,641 | +€16,779 | +121% |
| Other amounts receivable | 41 | €5,043 | €12,620 | +€7,577 | +150% |
| Current investments | 50/53 | €129,548 | €110,036 | -€19,513 | -15.1% |
| Cash at bank and in hand | 54/58 | €16,389 | €29,341 | +€12,952 | +79.0% |
| Deferred charges and accrued income | 490/1 | €768 | €3,408 | +€2,640 | +344% |
| Total equity and liabilities | 10/49 | €235,309 | €242,616 | +€7,307 | +3.1% |
| Equity | 10/15 | €207,379 | €182,269 | -€25,110 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,779 | €163,669 | -€25,110 | -13.3% |
| Distributable reserves | 133 | €188,779 | €163,669 | -€25,110 | -13.3% |
| Amounts payable | 17/49 | €27,930 | €60,347 | +€32,417 | +116% |
| Amounts payable within one year | 42/48 | €24,930 | €57,347 | +€32,417 | +130% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €4,866 | €9,623 | +€4,756 | +97.7% |
| Suppliers | 440/4 | €4,866 | €9,623 | +€4,756 | +97.7% |
| Taxes, remuneration and social security | 45 | €2,742 | €2,125 | -€617 | -22.5% |
| Taxes | 450/3 | €2,742 | €2,125 | -€617 | -22.5% |
| Other amounts payable | 47/48 | €17,321 | €45,587 | +€28,266 | +163% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,533 | €18,126 | -€408 | -2.2% |
| Other operating charges | 640/8 | €413 | €570 | +€157 | +38.0% |
| Gross operating margin | 9900 | €18,470 | €17,069 | -€1,401 | -7.6% |
| Operating profit (loss) | 9901 | -€477 | -€1,627 | -€1,151 | -241% |
| Financial income | 75/76B | €3,073 | €3,326 | +€253 | +8.2% |
| Recurring financial income | 75 | €3,073 | €3,326 | +€253 | +8.2% |
| Financial charges | 65/66B | €198 | €177 | -€21 | -10.7% |
| Recurring financial charges | 65 | €198 | €177 | -€21 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €2,398 | €1,522 | -€876 | -36.5% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | €2,270 | €1,390 | -€880 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,270 | €1,390 | -€880 | -38.8% |
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.