Soete: 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
Soete
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€19,412
2024 · -€33,037+€13,625
Equity
€249,328
2024 · €268,740-€19,412
Cash
€13,994
2024 · €21,263-€7,269
Balance sheet total
€2.9m
2024 · €2.8m+€91,127
Largest movements
Assets
- Tangible fixed assets +€114,075
up €114,075 (+10.6%), from €1.1m to €1.2m
of which Assets under construction and advance payments: +€114,075
Equity and liabilities
- Debts after one year +€70,979
new in 2025: €70,979
Income statement
- Financial charges -€12,399
down €12,399 (-59.4%), from €20,883 to €8,484
- Gross operating margin +€2,737
up €2,737 (+26.6%), from -€10,286 to -€7,549
- Financial income -€2,223
down €2,223 (-27.8%), from €7,988 to €5,765
- Other operating charges -€705
down €705 (-7.2%), from €9,856 to €9,151
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
-€33,037
Gross operating margin
+€2,737
Other operating charges
+€705
Financial income
-€2,223
Financial charges
+€12,399
Taxes
+€7
Result 2025
-€19,412
raises the resultlowers the result
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
+€9,098
Investment
-€114,075
Financing
+€97,708
Cash 2024
€21,263
From operations (derived)
+€9,098
Net result for the year
-€19,412
Receivables within one year
+€16,900
Deferred charges and accrued income
-€1,221
Trade debts
-€947
Tax, wage and social debts
-€1,071
Other debts
+€14,849
Investment (derived)
-€114,075
Investment in fixed assets (net)
-€114,075
Financing
+€97,708
Debts after one year
+€70,979
Current portion of long-term debt
+€26,729
Cash 2025
€13,994
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,791,823 | €2,882,950 | +€91,127 | +3.3% |
| Fixed assets | 21/28 | €2,196,442 | €2,310,517 | +€114,075 | +5.2% |
| Tangible fixed assets | 22/27 | €1,075,952 | €1,190,027 | +€114,075 | +10.6% |
| Land and buildings | 22 | €1,075,952 | €1,075,952 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €114,075 | +€114,075 | |
| Financial fixed assets | 28 | €1,120,490 | €1,120,490 | = | 0.0% |
| Current assets | 29/58 | €595,381 | €572,433 | -€22,948 | -3.9% |
| Amounts receivable within one year | 40/41 | €574,118 | €557,218 | -€16,900 | -2.9% |
| Trade receivables | 40 | €363 | €471 | +€108 | +29.8% |
| Other amounts receivable | 41 | €573,755 | €556,747 | -€17,008 | -3.0% |
| Cash at bank and in hand | 54/58 | €21,263 | €13,994 | -€7,269 | -34.2% |
| Deferred charges and accrued income | 490/1 | €0 | €1,221 | +€1,221 | |
| Total equity and liabilities | 10/49 | €2,791,823 | €2,882,950 | +€91,127 | +3.3% |
| Equity | 10/15 | €268,740 | €249,328 | -€19,412 | -7.2% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €318,844 | €318,844 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,442 | €17,442 | = | 0.0% |
| Legal reserve | 130 | €17,442 | €17,442 | = | 0.0% |
| Tax-exempt reserves | 132 | €54,750 | €54,750 | = | 0.0% |
| Distributable reserves | 133 | €246,651 | €246,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,104 | -€199,516 | -€19,412 | -10.8% |
| Amounts payable | 17/49 | €2,523,083 | €2,633,622 | +€110,539 | +4.4% |
| Amounts payable after more than one year | 17 | - | €70,979 | +€70,979 | |
| Financial debts | 170/4 | - | €70,979 | +€70,979 | |
| Amounts payable within one year | 42/48 | €2,523,083 | €2,562,643 | +€39,560 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | - | €26,729 | +€26,729 | |
| Trade debts | 44 | €997 | €50 | -€947 | -95.0% |
| Suppliers | 440/4 | €997 | €50 | -€947 | -95.0% |
| Taxes, remuneration and social security | 45 | €1,071 | €0 | -€1,071 | -100% |
| Taxes | 450/3 | €1,071 | €0 | -€1,071 | -100% |
| Other amounts payable | 47/48 | €2,521,015 | €2,535,864 | +€14,849 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €9,856 | €9,151 | -€705 | -7.2% |
| Gross operating margin | 9900 | -€10,286 | -€7,549 | +€2,737 | +26.6% |
| Operating profit (loss) | 9901 | -€20,142 | -€16,700 | +€3,442 | +17.1% |
| Financial income | 75/76B | €7,988 | €5,765 | -€2,223 | -27.8% |
| Recurring financial income | 75 | €7,988 | €5,765 | -€2,223 | -27.8% |
| Financial charges | 65/66B | €20,883 | €8,484 | -€12,399 | -59.4% |
| Recurring financial charges | 65 | €20,883 | €8,484 | -€12,399 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,037 | -€19,419 | +€13,618 | +41.2% |
| Income taxes | 67/77 | €0 | -€7 | -€7 | |
| Profit (loss) for the period | 9904 | -€33,037 | -€19,412 | +€13,625 | +41.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,037 | -€19,412 | +€13,625 | +41.2% |
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.