SOFERMA: what changed
Two fiscal 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.
SOFERMA
Largest movements
- Receivables within one year +€39,786
up €39,786 (+77.1%), from €51,606 to €91,392
of which Trade receivables: +€19,991
- Tangible fixed assets -€17,162
down €17,162 (-8.3%), from €206,331 to €189,170
of which Land and buildings: -€14,972
- Cash -€14,796
down €14,796 (-27.3%), from €54,188 to €39,392
mainly Receivables within one year (-€39,786) and Contributions, distributions and other (-€21,124)
- Reserves +€20,000
up €20,000 (+18.3%), from €109,133 to €129,133
of which Distributable reserves: +€20,000
- Other debts +€15,000
new in 2025: €15,000
- Tax, wage and social debts -€11,528
down €11,528 (-62.4%), from €18,470 to €6,942
of which Taxes: -€11,528
- Debts after one year -€9,303
down €9,303 (-5.6%), from €166,078 to €156,775
- Trade debts +€9,119
new in 2025: €9,119
- Depreciation -€13,164
down €13,164 (-41.8%), from €31,495 to €18,331
- Gross operating margin -€10,318
down €10,318 (-12.5%), from €82,461 to €72,143
- Taxes -€3,755
down €3,755 (-22.8%), from €16,443 to €12,687
- Financial charges +€1,608
up €1,608 (+26.3%), from €6,118 to €7,726
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €347,432 | €355,004 | +€7,572 | +2.2% |
| Fixed assets | 21/28 | €241,381 | €224,220 | -€17,162 | -7.1% |
| Tangible fixed assets | 22/27 | €206,331 | €189,170 | -€17,162 | -8.3% |
| Land and buildings | 22 | €198,017 | €183,045 | -€14,972 | -7.6% |
| Plant, machinery and equipment | 23 | €2,409 | €1,894 | -€515 | -21.4% |
| Furniture and vehicles | 24 | €5,904 | €4,230 | -€1,674 | -28.4% |
| Financial fixed assets | 28 | €35,050 | €35,050 | = | 0.0% |
| Current assets | 29/58 | €106,051 | €130,784 | +€24,733 | +23.3% |
| Amounts receivable within one year | 40/41 | €51,606 | €91,392 | +€39,786 | +77.1% |
| Trade receivables | 40 | €34,026 | €54,017 | +€19,991 | +58.8% |
| Other amounts receivable | 41 | €17,580 | €37,374 | +€19,795 | +112.6% |
| Cash at bank and in hand | 54/58 | €54,188 | €39,392 | -€14,796 | -27.3% |
| Deferred charges and accrued income | 490/1 | €257 | - | -€257 | |
| Total equity and liabilities | 10/49 | €347,432 | €355,004 | +€7,572 | +2.2% |
| Equity | 10/15 | €146,892 | €157,897 | +€11,006 | +7.5% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €109,133 | €129,133 | +€20,000 | +18.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €107,273 | €127,273 | +€20,000 | +18.6% |
| Profit (loss) carried forward | 14 | €31,509 | €22,515 | -€8,994 | -28.5% |
| Amounts payable | 17/49 | €200,540 | €197,106 | -€3,434 | -1.7% |
| Amounts payable after more than one year | 17 | €166,078 | €156,775 | -€9,303 | -5.6% |
| Financial debts | 170/4 | €166,078 | €156,775 | -€9,303 | -5.6% |
| Amounts payable within one year | 42/48 | €34,463 | €40,331 | +€5,869 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €8,905 | €9,270 | +€365 | +4.1% |
| Financial debts | 43 | €7,088 | - | -€7,088 | |
| Credit institutions | 430/8 | €7,088 | - | -€7,088 | |
| Trade debts | 44 | - | €9,119 | +€9,119 | |
| Suppliers | 440/4 | - | €9,119 | +€9,119 | |
| Taxes, remuneration and social security | 45 | €18,470 | €6,942 | -€11,528 | -62.4% |
| Taxes | 450/3 | €18,470 | €6,942 | -€11,528 | -62.4% |
| Remuneration and social security | 454/9 | - | €0 | +€0 | |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,495 | €18,331 | -€13,164 | -41.8% |
| Other operating charges | 640/8 | €914 | €1,269 | +€356 | +38.9% |
| Gross operating margin | 9900 | €82,461 | €72,143 | -€10,318 | -12.5% |
| Operating profit (loss) | 9901 | €50,052 | €52,543 | +€2,490 | +5.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -94.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -94.8% |
| Financial charges | 65/66B | €6,118 | €7,726 | +€1,608 | +26.3% |
| Recurring financial charges | 65 | €6,118 | €7,726 | +€1,608 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €43,935 | €44,816 | +€882 | +2.0% |
| Income taxes | 67/77 | €16,443 | €12,687 | -€3,755 | -22.8% |
| Profit (loss) for the period | 9904 | €27,492 | €32,129 | +€4,637 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,492 | €32,129 | +€4,637 | +16.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.