SOETAERS CONSTRUCT: 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.
What changed
SOETAERS CONSTRUCT
NACE 25.999, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€411
2024 · €14,488-€14,078
Equity
€743,748
2024 · €743,337+€411
Cash
€98,968
2024 · €117,151-€18,183
Balance sheet total
€1.7m
2024 · €1.9m-€180,963
Largest movements
Assets
- Tangible fixed assets -€250,412
down €250,412 (-17.9%), from €1.4m to €1.1m
of which Land and buildings: -€137,653
- Receivables within one year +€80,720
up €80,720 (+45.5%), from €177,548 to €258,268
of which Trade receivables: +€51,498
Equity and liabilities
- Debts after one year -€114,372
down €114,372 (-12.7%), from €898,361 to €783,989
- Trade debts -€55,544
down €55,544 (-64.4%), from €86,258 to €30,714
Income statement
- Gross operating margin -€9,831
down €9,831 (-1.8%), from €552,936 to €543,105
- Staff costs +€9,561
up €9,561 (+4.0%), from €240,659 to €250,220
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.
Result 2024
€14,488
Gross operating margin
-€9,831
Staff costs
-€9,561
Depreciation
-€2,045
Other operating charges
-€998
Other operating items
+€6,114
Financial income
-€4,548
Financial charges
+€2,887
Taxes
+€3,904
Result 2025
€411
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€83,952
Investment
+€13,332
Financing
-€115,467
Cash 2024
€117,151
From operations (derived)
+€83,952
Net result for the year
+€411
Depreciation
+€250,412
Stocks and contracts
-€5,672
Receivables within one year
-€80,720
Deferred charges and accrued income
-€14,573
Trade debts
-€55,544
Tax, wage and social debts
-€10,838
Advances received
+€1,150
Smaller working-capital items
-€674
Investment (derived)
+€13,332
Investment in fixed assets (net)
+€13,332
Financing
-€115,467
Debts after one year
-€114,372
Current portion of long-term debt
-€1,095
Cash 2025
€98,968
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,918,439 | €1,737,477 | -€180,963 | -9.4% |
| Fixed assets | 21/28 | €1,409,857 | €1,146,114 | -€263,744 | -18.7% |
| Tangible fixed assets | 22/27 | €1,396,490 | €1,146,079 | -€250,412 | -17.9% |
| Land and buildings | 22 | €1,122,104 | €984,451 | -€137,653 | -12.3% |
| Plant, machinery and equipment | 23 | €248,508 | €148,995 | -€99,512 | -40.0% |
| Furniture and vehicles | 24 | €15,720 | €7,321 | -€8,399 | -53.4% |
| Other tangible fixed assets | 26 | €10,159 | €5,312 | -€4,847 | -47.7% |
| Financial fixed assets | 28 | €13,367 | €35 | -€13,332 | -99.7% |
| Current assets | 29/58 | €508,582 | €591,363 | +€82,781 | +16.3% |
| Stocks and contracts in progress | 3 | €194,056 | €199,728 | +€5,672 | +2.9% |
| Stocks | 30/36 | €194,056 | €199,728 | +€5,672 | +2.9% |
| Amounts receivable within one year | 40/41 | €177,548 | €258,268 | +€80,720 | +45.5% |
| Trade receivables | 40 | €152,925 | €204,423 | +€51,498 | +33.7% |
| Other amounts receivable | 41 | €24,623 | €53,844 | +€29,222 | +119% |
| Cash at bank and in hand | 54/58 | €117,151 | €98,968 | -€18,183 | -15.5% |
| Deferred charges and accrued income | 490/1 | €19,827 | €34,399 | +€14,573 | +73.5% |
| Total equity and liabilities | 10/49 | €1,918,439 | €1,737,477 | -€180,963 | -9.4% |
| Equity | 10/15 | €743,337 | €743,748 | +€411 | +0.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €724,337 | €724,748 | +€411 | +0.1% |
| Distributable reserves | 133 | €724,337 | €724,748 | +€411 | +0.1% |
| Amounts payable | 17/49 | €1,175,102 | €993,729 | -€181,373 | -15.4% |
| Amounts payable after more than one year | 17 | €898,361 | €783,989 | -€114,372 | -12.7% |
| Financial debts | 170/4 | €898,361 | €783,989 | -€114,372 | -12.7% |
| Amounts payable within one year | 42/48 | €261,076 | €194,593 | -€66,484 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €108,467 | €107,372 | -€1,095 | -1.0% |
| Trade debts | 44 | €86,258 | €30,714 | -€55,544 | -64.4% |
| Suppliers | 440/4 | €86,258 | €30,714 | -€55,544 | -64.4% |
| Advances received on contracts in progress | 46 | €8,668 | €9,818 | +€1,150 | +13.3% |
| Taxes, remuneration and social security | 45 | €53,556 | €42,718 | -€10,838 | -20.2% |
| Taxes | 450/3 | €15,547 | €1,828 | -€13,719 | -88.2% |
| Remuneration and social security | 454/9 | €38,008 | €40,890 | +€2,882 | +7.6% |
| Other amounts payable | 47/48 | €4,127 | €3,971 | -€156 | -3.8% |
| Accrued charges and deferred income | 492/3 | €15,664 | €15,147 | -€517 | -3.3% |
| Non-recurring operating income | 76A | €6,000 | €0 | -€6,000 | -100% |
| Remuneration, social security and pensions | 62 | €240,659 | €250,220 | +€9,561 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,366 | €250,412 | +€2,045 | +0.8% |
| Other operating charges | 640/8 | €36,126 | €37,124 | +€998 | +2.8% |
| Non-recurring operating charges | 66A | €6,114 | €0 | -€6,114 | -100% |
| Gross operating margin | 9900 | €552,936 | €543,105 | -€9,831 | -1.8% |
| Operating profit (loss) | 9901 | €21,671 | €5,350 | -€16,321 | -75.3% |
| Financial income | 75/76B | €12,753 | €8,205 | -€4,548 | -35.7% |
| Recurring financial income | 75 | €12,753 | €8,205 | -€4,548 | -35.7% |
| Financial charges | 65/66B | €15,084 | €12,197 | -€2,887 | -19.1% |
| Recurring financial charges | 65 | €15,084 | €12,197 | -€2,887 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €19,341 | €1,359 | -€17,982 | -93.0% |
| Income taxes | 67/77 | €4,852 | €948 | -€3,904 | -80.5% |
| Profit (loss) for the period | 9904 | €14,488 | €411 | -€14,078 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,488 | €411 | -€14,078 | -97.2% |
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 15 October 2026 via checked.be.