Soetaert & Zoon: 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.
Soetaert & Zoon
Largest movements
- Cash +€77,187
up €77,187 (+397%), from €19,442 to €96,629
mainly Receivables within one year (+€50,057) and Net result for the year (+€27,807)
- Receivables within one year -€50,057
down €50,057 (-87.2%), from €57,432 to €7,375
of which Trade receivables: -€48,413
- Deferred charges and accrued income +€3,259
new in 2025: €3,259
- Tangible fixed assets -€1,801
down €1,801 (-5.4%), from €33,211 to €31,410
of which Plant, machinery and equipment: -€3,968
- Reserves +€25,000
up €25,000 (+38.5%), from €65,000 to €90,000
- Tax, wage and social debts +€7,521
up €7,521 (+47.0%), from €16,017 to €23,537
- Trade debts -€6,740
down €6,740 (-95.6%), from €7,052 to €313
- Profit (loss) carried forward +€2,807
up €2,807 (+135%), from €2,078 to €4,885
- Gross operating margin -€48,858
down €48,858 (-51.1%), from €95,659 to €46,802
- Taxes -€8,500
down €8,500 (-53.1%), from €16,000 to €7,500
- Depreciation -€1,123
down €1,123 (-10.0%), from €11,245 to €10,123
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 | €110,147 | €138,735 | +€28,588 | +26.0% |
| Fixed assets | 21/28 | €33,273 | €31,472 | -€1,801 | -5.4% |
| Tangible fixed assets | 22/27 | €33,211 | €31,410 | -€1,801 | -5.4% |
| Plant, machinery and equipment | 23 | €32,797 | €28,829 | -€3,968 | -12.1% |
| Furniture and vehicles | 24 | €414 | €2,581 | +€2,167 | +523% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €76,874 | €107,264 | +€30,390 | +39.5% |
| Amounts receivable within one year | 40/41 | €57,432 | €7,375 | -€50,057 | -87.2% |
| Trade receivables | 40 | €53,447 | €5,034 | -€48,413 | -90.6% |
| Other amounts receivable | 41 | €3,985 | €2,341 | -€1,643 | -41.2% |
| Cash at bank and in hand | 54/58 | €19,442 | €96,629 | +€77,187 | +397% |
| Deferred charges and accrued income | 490/1 | - | €3,259 | +€3,259 | |
| Total equity and liabilities | 10/49 | €110,147 | €138,735 | +€28,588 | +26.0% |
| Equity | 10/15 | €87,078 | €114,885 | +€27,807 | +31.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €65,000 | €90,000 | +€25,000 | +38.5% |
| Distributable reserves | 133 | €65,000 | €90,000 | +€25,000 | +38.5% |
| Profit (loss) carried forward | 14 | €2,078 | €4,885 | +€2,807 | +135% |
| Amounts payable | 17/49 | €23,069 | €23,850 | +€781 | +3.4% |
| Amounts payable within one year | 42/48 | €23,069 | €23,850 | +€781 | +3.4% |
| Trade debts | 44 | €7,052 | €313 | -€6,740 | -95.6% |
| Suppliers | 440/4 | €7,052 | €313 | -€6,740 | -95.6% |
| Taxes, remuneration and social security | 45 | €16,017 | €23,537 | +€7,521 | +47.0% |
| Taxes | 450/3 | €16,017 | €23,537 | +€7,521 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,245 | €10,123 | -€1,123 | -10.0% |
| Other operating charges | 640/8 | €1,113 | €1,313 | +€200 | +18.0% |
| Gross operating margin | 9900 | €95,659 | €46,802 | -€48,858 | -51.1% |
| Operating profit (loss) | 9901 | €83,301 | €35,366 | -€47,935 | -57.5% |
| Financial income | 75/76B | €60 | €53 | -€7 | -11.3% |
| Recurring financial income | 75 | €60 | €53 | -€7 | -11.3% |
| Non-recurring financial income | 76B | €60 | €53 | -€7 | -11.3% |
| Financial charges | 65/66B | €283 | €111 | -€172 | -60.6% |
| Recurring financial charges | 65 | €283 | €111 | -€172 | -60.6% |
| Non-recurring financial charges | 66B | €283 | €111 | -€172 | -60.6% |
| Profit (loss) for the period before taxes | 9903 | €83,078 | €35,307 | -€47,771 | -57.5% |
| Income taxes | 67/77 | €16,000 | €7,500 | -€8,500 | -53.1% |
| Profit (loss) for the period | 9904 | €67,078 | €27,807 | -€39,271 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,078 | €27,807 | -€39,271 | -58.5% |
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 26 October 2026 via checked.be.