SOETENS: 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.
SOETENS
Largest movements
- Tangible fixed assets -€21,721
down €21,721 (-2.2%), from €966,659 to €944,937
of which Land and buildings: -€55,140
- Receivables within one year -€15,793
down €15,793 (-34.1%), from €46,316 to €30,523
of which Other amounts receivable: -€13,345
- Profit (loss) carried forward +€106,162
up €106,162, from -€106,162 to €0
- Debts after one year -€98,263
down €98,263 (-11.7%), from €841,086 to €742,823
- Other debts -€88,375
down €88,375 (-70.3%), from €125,727 to €37,352
- Current portion of long-term debt +€16,780
up €16,780 (+25.9%), from €64,834 to €81,614
- Trade debts +€13,382
up €13,382 (+11.2%), from €119,070 to €132,452
- Staff costs -€87,905
down €87,905 (-88.8%), from €98,948 to €11,042
- Gross operating margin -€42,675
down €42,675 (-22.2%), from €192,416 to €149,741
- Depreciation +€12,802
up €12,802 (+30.0%), from €42,622 to €55,424
- Taxes +€3,921
new in 2025: €3,921
- Financial charges -€2,203
down €2,203 (-6.2%), from €35,726 to €33,524
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,065,868 | €1,018,055 | -€47,813 | -4.5% |
| Fixed assets | 21/28 | €967,756 | €944,937 | -€22,819 | -2.4% |
| Intangible fixed assets | 21 | €1,098 | €0 | -€1,098 | -100% |
| Tangible fixed assets | 22/27 | €966,659 | €944,937 | -€21,721 | -2.2% |
| Land and buildings | 22 | €887,062 | €831,922 | -€55,140 | -6.2% |
| Plant, machinery and equipment | 23 | €76,163 | €83,853 | +€7,690 | +10.1% |
| Furniture and vehicles | 24 | - | €27,563 | +€27,563 | |
| Other tangible fixed assets | 26 | €3,433 | €1,599 | -€1,834 | -53.4% |
| Current assets | 29/58 | €98,112 | €73,118 | -€24,994 | -25.5% |
| Stocks and contracts in progress | 3 | €28,010 | €28,010 | = | 0.0% |
| Stocks | 30/36 | €28,010 | €28,010 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,316 | €30,523 | -€15,793 | -34.1% |
| Trade receivables | 40 | €32,196 | €29,748 | -€2,448 | -7.6% |
| Other amounts receivable | 41 | €14,120 | €775 | -€13,345 | -94.5% |
| Cash at bank and in hand | 54/58 | €23,774 | €14,585 | -€9,189 | -38.7% |
| Deferred charges and accrued income | 490/1 | €12 | - | -€12 | |
| Total equity and liabilities | 10/49 | €1,065,868 | €1,018,055 | -€47,813 | -4.5% |
| Equity | 10/15 | -€96,162 | €17,944 | +€114,105 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €7,944 | +€7,944 | |
| Distributable reserves | 133 | - | €7,944 | +€7,944 | |
| Profit (loss) carried forward | 14 | -€106,162 | €0 | +€106,162 | |
| Amounts payable | 17/49 | €1,162,030 | €1,000,111 | -€161,919 | -13.9% |
| Amounts payable after more than one year | 17 | €841,086 | €742,823 | -€98,263 | -11.7% |
| Financial debts | 170/4 | €841,086 | €742,823 | -€98,263 | -11.7% |
| Amounts payable within one year | 42/48 | €320,944 | €257,288 | -€63,656 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €64,834 | €81,614 | +€16,780 | +25.9% |
| Trade debts | 44 | €119,070 | €132,452 | +€13,382 | +11.2% |
| Suppliers | 440/4 | €119,070 | €132,452 | +€13,382 | +11.2% |
| Taxes, remuneration and social security | 45 | €11,313 | €5,869 | -€5,443 | -48.1% |
| Taxes | 450/3 | €221 | €3,921 | +€3,700 | +1,675% |
| Remuneration and social security | 454/9 | €11,092 | €1,948 | -€9,144 | -82.4% |
| Other amounts payable | 47/48 | €125,727 | €37,352 | -€88,375 | -70.3% |
| Remuneration, social security and pensions | 62 | €98,948 | €11,042 | -€87,905 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,622 | €55,424 | +€12,802 | +30.0% |
| Other operating charges | 640/8 | €2,204 | €3,494 | +€1,290 | +58.5% |
| Gross operating margin | 9900 | €192,416 | €149,741 | -€42,675 | -22.2% |
| Operating profit (loss) | 9901 | €48,642 | €79,780 | +€31,138 | +64.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €35,726 | €33,524 | -€2,203 | -6.2% |
| Recurring financial charges | 65 | €35,726 | €33,524 | -€2,203 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €12,915 | €46,256 | +€33,341 | +258% |
| Income taxes | 67/77 | - | €3,921 | +€3,921 | |
| Profit (loss) for the period | 9904 | €12,915 | €42,335 | +€29,419 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €12,915 | €42,335 | +€29,419 | +228% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.