Soeten & Vandenbergh: what changed
Soeten & Vandenbergh
Largest movements
- Cash +€11,817
up €11,817 (+42.5%), from €27,806 to €39,624
mainly Stocks and contracts (+€8,350) and Receivables within one year (+€5,097)
- Stocks and contracts -€8,350
down €8,350 (-11.0%), from €76,200 to €67,850
- Receivables within one year -€5,097
down €5,097 (-73.3%), from €6,955 to €1,858
of which Trade receivables: -€5,075
- Reserves -€2,002
down €2,002 (-15.5%), from €12,883 to €10,881
- Gross operating margin -€2,042
down €2,042, from €1,789 to -€253
- Other operating charges -€1,097
down €1,097 (-41.7%), from €2,630 to €1,533
- Depreciation -€250
down €250 (-60.6%), from €413 to €163
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 | €111,308 | €109,477 | -€1,831 | -1.6% |
| Fixed assets | 21/28 | €235 | €72 | -€163 | -69.3% |
| Tangible fixed assets | 22/27 | €163 | €0 | -€163 | -100% |
| Furniture and vehicles | 24 | €163 | €0 | -€163 | -100% |
| Financial fixed assets | 28 | €72 | €72 | = | 0.0% |
| Current assets | 29/58 | €111,073 | €109,405 | -€1,668 | -1.5% |
| Stocks and contracts in progress | 3 | €76,200 | €67,850 | -€8,350 | -11.0% |
| Stocks | 30/36 | €76,200 | €67,850 | -€8,350 | -11.0% |
| Amounts receivable within one year | 40/41 | €6,955 | €1,858 | -€5,097 | -73.3% |
| Trade receivables | 40 | €5,075 | €0 | -€5,075 | -100% |
| Other amounts receivable | 41 | €1,881 | €1,858 | -€23 | -1.2% |
| Cash at bank and in hand | 54/58 | €27,806 | €39,624 | +€11,817 | +42.5% |
| Deferred charges and accrued income | 490/1 | €111 | €73 | -€38 | -34.0% |
| Total equity and liabilities | 10/49 | €111,308 | €109,477 | -€1,831 | -1.6% |
| Equity | 10/15 | €31,483 | €29,481 | -€2,002 | -6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,883 | €10,881 | -€2,002 | -15.5% |
| Distributable reserves | 133 | €12,883 | €10,881 | -€2,002 | -15.5% |
| Amounts payable | 17/49 | €79,824 | €79,996 | +€172 | +0.2% |
| Amounts payable within one year | 42/48 | €79,824 | €79,996 | +€172 | +0.2% |
| Trade debts | 44 | €1,375 | €1,117 | -€258 | -18.8% |
| Suppliers | 440/4 | €1,375 | €1,117 | -€258 | -18.8% |
| Taxes, remuneration and social security | 45 | €0 | €430 | +€430 | |
| Taxes | 450/3 | €0 | €430 | +€430 | |
| Other amounts payable | 47/48 | €78,450 | €78,450 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €163 | -€250 | -60.6% |
| Other operating charges | 640/8 | €2,630 | €1,533 | -€1,097 | -41.7% |
| Gross operating margin | 9900 | €1,789 | -€253 | -€2,042 | |
| Operating profit (loss) | 9901 | -€1,254 | -€1,948 | -€694 | -55.3% |
| Financial charges | 65/66B | €51 | €54 | +€3 | +5.9% |
| Recurring financial charges | 65 | €51 | €54 | +€3 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,305 | -€2,002 | -€697 | -53.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,305 | -€2,002 | -€697 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,305 | -€2,002 | -€697 | -53.4% |
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 8 November 2026 via checked.be.