SOFAN: 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
SOFAN
NACE 46.491, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€66,662
2024 · €82,281-€15,620
Equity
€436,987
2024 · €370,325+€66,662
Cash
€129,053
2024 · €167,317-€38,264
Balance sheet total
€643,517
2024 · €596,365+€47,153
Largest movements
Assets
- Current investments +€125,000
new in 2025: €125,000
- Tangible fixed assets -€39,201
down €39,201 (-9.5%), from €412,651 to €373,450
- Cash -€38,264
down €38,264 (-22.9%), from €167,317 to €129,053
mainly Current investments (-€125,000) and Debts after one year (-€23,222)
Equity and liabilities
- Reserves +€66,500
up €66,500 (+29.6%), from €224,364 to €290,864
of which Distributable reserves: +€66,500
- Debts after one year -€23,222
down €23,222 (-15.5%), from €149,889 to €126,667
of which Financial debts: -€23,222
Income statement
- Depreciation +€18,243
up €18,243 (+54.2%), from €33,668 to €51,911
- Taxes -€3,598
down €3,598 (-9.3%), from €38,847 to €35,249
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
€82,281
Gross operating margin
+€494
Staff costs
-€2,170
Depreciation
-€18,243
Other operating charges
+€140
Financial income
+€1,464
Financial charges
-€903
Taxes
+€3,598
Result 2025
€66,662
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
+€122,295
Investment
-€137,710
Financing
-€22,849
Cash 2024
€167,317
From operations (derived)
+€122,295
Net result for the year
+€66,662
Depreciation
+€51,911
Stocks and contracts
+€1,677
Receivables within one year
-€1,246
Smaller working-capital items
-€199
Trade debts
+€2,274
Tax, wage and social debts
+€874
Other debts
+€341
Investment (derived)
-€137,710
Investment in fixed assets (net)
-€12,710
Current investments
-€125,000
Financing
-€22,849
Debts after one year
-€23,222
Current portion of long-term debt
+€373
Cash 2025
€129,053
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €596,365 | €643,517 | +€47,153 | +7.9% |
| Fixed assets | 21/28 | €413,083 | €373,882 | -€39,201 | -9.5% |
| Tangible fixed assets | 22/27 | €412,651 | €373,450 | -€39,201 | -9.5% |
| Land and buildings | 22 | €292,015 | €273,884 | -€18,132 | -6.2% |
| Plant, machinery and equipment | 23 | €88,814 | €74,732 | -€14,082 | -15.9% |
| Furniture and vehicles | 24 | €31,822 | €24,835 | -€6,988 | -22.0% |
| Financial fixed assets | 28 | €432 | €432 | = | 0.0% |
| Current assets | 29/58 | €183,282 | €269,635 | +€86,354 | +47.1% |
| Stocks and contracts in progress | 3 | €9,992 | €8,315 | -€1,677 | -16.8% |
| Stocks | 30/36 | €9,992 | €8,315 | -€1,677 | -16.8% |
| Amounts receivable within one year | 40/41 | €278 | €1,524 | +€1,246 | +448% |
| Trade receivables | 40 | €278 | €438 | +€160 | +57.3% |
| Other amounts receivable | 41 | - | €1,086 | +€1,086 | |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €167,317 | €129,053 | -€38,264 | -22.9% |
| Deferred charges and accrued income | 490/1 | €5,695 | €5,744 | +€49 | +0.9% |
| Total equity and liabilities | 10/49 | €596,365 | €643,517 | +€47,153 | +7.9% |
| Equity | 10/15 | €370,325 | €436,987 | +€66,662 | +18.0% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €224,364 | €290,864 | +€66,500 | +29.6% |
| Tax-exempt reserves | 132 | €24,750 | €24,750 | = | 0.0% |
| Distributable reserves | 133 | €199,614 | €266,114 | +€66,500 | +33.3% |
| Profit (loss) carried forward | 14 | €139,756 | €139,917 | +€162 | +0.1% |
| Amounts payable | 17/49 | €226,039 | €206,530 | -€19,509 | -8.6% |
| Amounts payable after more than one year | 17 | €149,889 | €126,667 | -€23,222 | -15.5% |
| Financial debts | 170/4 | €149,389 | €126,167 | -€23,222 | -15.5% |
| Other amounts payable | 178/9 | €500 | €500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,000 | €79,864 | +€3,863 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €22,849 | €23,222 | +€373 | +1.6% |
| Trade debts | 44 | €3,716 | €5,990 | +€2,274 | +61.2% |
| Suppliers | 440/4 | €3,716 | €5,990 | +€2,274 | +61.2% |
| Taxes, remuneration and social security | 45 | €23,884 | €24,758 | +€874 | +3.7% |
| Taxes | 450/3 | €20,156 | €21,227 | +€1,071 | +5.3% |
| Remuneration and social security | 454/9 | €3,728 | €3,531 | -€197 | -5.3% |
| Other amounts payable | 47/48 | €25,552 | €25,893 | +€341 | +1.3% |
| Accrued charges and deferred income | 492/3 | €150 | - | -€150 | |
| Non-recurring operating income | 76A | €10,936 | €301 | -€10,635 | -97.2% |
| Remuneration, social security and pensions | 62 | €54,683 | €56,854 | +€2,170 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,668 | €51,911 | +€18,243 | +54.2% |
| Other operating charges | 640/8 | €4,654 | €4,514 | -€140 | -3.0% |
| Gross operating margin | 9900 | €217,190 | €217,684 | +€494 | +0.2% |
| Operating profit (loss) | 9901 | €124,184 | €104,406 | -€19,779 | -15.9% |
| Financial income | 75/76B | €584 | €2,048 | +€1,464 | +251% |
| Recurring financial income | 75 | €584 | €2,048 | +€1,464 | +251% |
| Financial charges | 65/66B | €3,640 | €4,543 | +€903 | +24.8% |
| Recurring financial charges | 65 | €3,640 | €4,543 | +€903 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €121,128 | €101,910 | -€19,218 | -15.9% |
| Income taxes | 67/77 | €38,847 | €35,249 | -€3,598 | -9.3% |
| Profit (loss) for the period | 9904 | €82,281 | €66,662 | -€15,620 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,281 | €66,662 | -€15,620 | -19.0% |
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.