SOFA INVEST: 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.
SOFA INVEST
Largest movements
- Receivables within one year -€7.0m
down €7.0m (-69.8%), from €10.0m to €3.0m
of which Other amounts receivable: -€7.0m
- Tangible fixed assets -€2.8m
down €2.8m (-3.9%), from €71.7m to €68.9m
- Other debts -€10.0m
no longer reported in 2025 (was €10.0m)
- Financial charges +€298,799
up €298,799 (+16.3%), from €1.8m to €2.1m
- Financial income -€263,651
down €263,651 (-72.6%), from €362,908 to €99,258
- Gross operating margin +€201,933
up €201,933 (+2.3%), from €8.9m to €9.1m
- Taxes -€104,804
down €104,804 (-11.1%), from €944,272 to €839,468
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,582,697 | €73,555,929 | -€10.0m | -12.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €71,709,737 | €68,890,373 | -€2.8m | -3.9% |
| Tangible fixed assets | 22/27 | €71,709,736 | €68,890,372 | -€2.8m | -3.9% |
| Land and buildings | 22 | €71,709,736 | €68,890,372 | -€2.8m | -3.9% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €11,872,960 | €4,665,556 | -€7.2m | -60.7% |
| Amounts receivable within one year | 40/41 | €10,046,870 | €3,032,220 | -€7.0m | -69.8% |
| Trade receivables | 40 | €83,512 | €19,492 | -€64,020 | -76.7% |
| Other amounts receivable | 41 | €9,963,358 | €3,012,728 | -€7.0m | -69.8% |
| Deferred charges and accrued income | 490/1 | €1,826,090 | €1,633,336 | -€192,755 | -10.6% |
| Total equity and liabilities | 10/49 | €83,582,697 | €73,555,929 | -€10.0m | -12.0% |
| Equity | 10/15 | €9,078,279 | €9,096,682 | +€18,403 | +0.2% |
| Contributions | 10/11 | €5,200,000 | €5,200,000 | = | 0.0% |
| Capital | 10 | €5,200,000 | €5,200,000 | = | 0.0% |
| Issued capital | 100 | €5,200,000 | €5,200,000 | = | 0.0% |
| Reserves | 13 | €957,596 | €957,596 | = | 0.0% |
| Non-distributable reserves | 130/1 | €957,596 | €957,596 | = | 0.0% |
| Legal reserve | 130 | €957,596 | €957,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,920,683 | €2,939,086 | +€18,403 | +0.6% |
| Amounts payable | 17/49 | €74,504,418 | €64,459,247 | -€10.0m | -13.5% |
| Amounts payable after more than one year | 17 | €60,000,000 | €60,000,000 | = | 0.0% |
| Financial debts | 170/4 | €60,000,000 | €60,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,450,837 | €9,060 | -€10.4m | -99.9% |
| Trade debts | 44 | €401,975 | - | -€401,975 | |
| Suppliers | 440/4 | €401,975 | - | -€401,975 | |
| Taxes, remuneration and social security | 45 | €48,862 | €9,060 | -€39,802 | -81.5% |
| Taxes | 450/3 | €48,862 | €9,060 | -€39,802 | -81.5% |
| Other amounts payable | 47/48 | €10,000,000 | - | -€10.0m | |
| Accrued charges and deferred income | 492/3 | €4,053,581 | €4,450,187 | +€396,606 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,831,912 | €2,832,249 | +€337 | 0.0% |
| Other operating charges | 640/8 | €791,304 | €849,666 | +€58,362 | +7.4% |
| Gross operating margin | 9900 | €8,869,950 | €9,071,883 | +€201,933 | +2.3% |
| Operating profit (loss) | 9901 | €5,246,734 | €5,389,968 | +€143,234 | +2.7% |
| Financial income | 75/76B | €362,908 | €99,258 | -€263,651 | -72.6% |
| Recurring financial income | 75 | €362,908 | €99,258 | -€263,651 | -72.6% |
| Financial charges | 65/66B | €1,832,556 | €2,131,354 | +€298,799 | +16.3% |
| Recurring financial charges | 65 | €1,832,556 | €2,131,354 | +€298,799 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €3,777,087 | €3,357,871 | -€419,216 | -11.1% |
| Income taxes | 67/77 | €944,272 | €839,468 | -€104,804 | -11.1% |
| Profit (loss) for the period | 9904 | €2,832,815 | €2,518,403 | -€314,412 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,832,815 | €2,518,403 | -€314,412 | -11.1% |
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 27 October 2026 via checked.be.