SOETE-VERHOEST: what changed
SOETE-VERHOEST
Largest movements
- Cash -€118,709
down €118,709 (-100%), from €118,709 to €0
mainly Receivables within one year (-€100,311) and Trade debts (-€96,726)
- Receivables within one year +€100,311
up €100,311 (+50.2%), from €199,718 to €300,029
of which Other amounts receivable: +€199,243
- Tangible fixed assets -€18,998
down €18,998 (-31.3%), from €60,780 to €41,782
of which Land and buildings: -€9,840
- Deferred charges and accrued income -€18,889
down €18,889 (-94.4%), from €20,000 to €1,111
- Trade debts -€96,726
down €96,726 (-69.4%), from €139,431 to €42,705
- Other debts +€63,520
up €63,520 (+52.7%), from €120,424 to €183,945
- Debts after one year -€22,239
down €22,239 (-41.1%), from €54,115 to €31,876
- Reserves -€18,268
down €18,268 (-19.7%), from €92,605 to €74,337
of which Distributable reserves: -€18,268
- Short-term financial debts +€13,113
up €13,113, from €0 to €13,113
- Gross operating margin -€33,279
down €33,279 (-63.2%), from €52,666 to €19,386
- Other operating charges -€31,109
down €31,109 (-90.7%), from €34,300 to €3,191
- Write-downs +€17,366
up €17,366, from -€17,366 to €0
- Financial charges -€12,794
down €12,794 (-61.0%), from €20,969 to €8,175
- Financial income -€10,658
down €10,658 (-99.8%), from €10,676 to €19
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €506,805 | €449,667 | -€57,138 | -11.3% |
| Fixed assets | 21/28 | €63,806 | €43,716 | -€20,091 | -31.5% |
| Tangible fixed assets | 22/27 | €60,780 | €41,782 | -€18,998 | -31.3% |
| Land and buildings | 22 | €20,298 | €10,458 | -€9,840 | -48.5% |
| Plant, machinery and equipment | 23 | €1,047 | €1,163 | +€116 | +11.1% |
| Furniture and vehicles | 24 | €39,435 | €30,161 | -€9,274 | -23.5% |
| Financial fixed assets | 28 | €3,027 | €1,934 | -€1,093 | -36.1% |
| Current assets | 29/58 | €442,999 | €405,952 | -€37,047 | -8.4% |
| Stocks and contracts in progress | 3 | €104,572 | €104,812 | +€240 | +0.2% |
| Stocks | 30/36 | €104,572 | €104,812 | +€240 | +0.2% |
| Amounts receivable within one year | 40/41 | €199,718 | €300,029 | +€100,311 | +50.2% |
| Trade receivables | 40 | €177,557 | €78,625 | -€98,932 | -55.7% |
| Other amounts receivable | 41 | €22,161 | €221,404 | +€199,243 | +899% |
| Cash at bank and in hand | 54/58 | €118,709 | €0 | -€118,709 | -100% |
| Deferred charges and accrued income | 490/1 | €20,000 | €1,111 | -€18,889 | -94.4% |
| Total equity and liabilities | 10/49 | €506,805 | €449,667 | -€57,138 | -11.3% |
| Equity | 10/15 | €172,605 | €154,337 | -€18,268 | -10.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €92,605 | €74,337 | -€18,268 | -19.7% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,447 | €16,447 | = | 0.0% |
| Distributable reserves | 133 | €68,158 | €49,890 | -€18,268 | -26.8% |
| Amounts payable | 17/49 | €334,200 | €295,331 | -€38,869 | -11.6% |
| Amounts payable after more than one year | 17 | €54,115 | €31,876 | -€22,239 | -41.1% |
| Financial debts | 170/4 | €54,115 | €31,876 | -€22,239 | -41.1% |
| Amounts payable within one year | 42/48 | €280,085 | €263,381 | -€16,704 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €20,115 | €21,436 | +€1,321 | +6.6% |
| Financial debts | 43 | €0 | €13,113 | +€13,113 | |
| Credit institutions | 430/8 | €0 | €13,113 | +€13,113 | |
| Trade debts | 44 | €139,431 | €42,705 | -€96,726 | -69.4% |
| Suppliers | 440/4 | €139,431 | €42,705 | -€96,726 | -69.4% |
| Advances received on contracts in progress | 46 | €115 | €151 | +€36 | +31.2% |
| Taxes, remuneration and social security | 45 | €0 | €2,031 | +€2,031 | |
| Taxes | 450/3 | €0 | €2,031 | +€2,031 | |
| Other amounts payable | 47/48 | €120,424 | €183,945 | +€63,520 | +52.7% |
| Accrued charges and deferred income | 492/3 | €0 | €73 | +€73 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,102 | €19,502 | +€4,400 | +29.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,366 | €0 | +€17,366 | |
| Other operating charges | 640/8 | €34,300 | €3,191 | -€31,109 | -90.7% |
| Non-recurring operating charges | 66A | €0 | €6,805 | +€6,805 | |
| Gross operating margin | 9900 | €52,666 | €19,386 | -€33,279 | -63.2% |
| Operating profit (loss) | 9901 | €20,629 | -€10,112 | -€30,741 | |
| Financial income | 75/76B | €10,676 | €19 | -€10,658 | -99.8% |
| Recurring financial income | 75 | €10,676 | €19 | -€10,658 | -99.8% |
| Financial charges | 65/66B | €20,969 | €8,175 | -€12,794 | -61.0% |
| Recurring financial charges | 65 | €20,969 | €8,175 | -€12,794 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | €10,336 | -€18,268 | -€28,604 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €10,336 | -€18,268 | -€28,604 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,336 | -€18,268 | -€28,604 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.