SOFIDEL BENELUX: 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.
What changed
SOFIDEL BENELUX
NACE 17.220, Manufacture of paper and paper products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · €2.3m-€18,108
Equity
€22.3m
2024 · €20.0m+€2.3m
Cash
€8.0m
2024 · €11.1m-€3.0m
Balance sheet total
€54.1m
2024 · €64.1m-€9.9m
Largest movements
Assets
- Receivables within one year -€4.9m
down €4.9m (-23.9%), from €20.7m to €15.8m
of which Trade receivables: -€4.8m
- Cash -€3.0m
down €3.0m (-27.3%), from €11.1m to €8.0m
mainly Other debts (-€15.0m) and Investment in fixed assets (net) (-€800,778)
- Tangible fixed assets -€1.3m
down €1.3m (-7.3%), from €18.0m to €16.7m
of which Plant, machinery and equipment: -€1.1m
Equity and liabilities
- Other debts -€15.0m
down €15.0m (-100.0%), from €15.0m to €0
- Trade debts +€2.8m
up €2.8m (+10.9%), from €25.3m to €28.0m
- Profit (loss) carried forward +€2.3m
up €2.3m (+14.9%), from €15.5m to €17.8m
Income statement
- Turnover +€5.3m
up €5.3m (+4.2%), from €126.9m to €132.2m
- Services and other goods +€3.4m
up €3.4m (+7.5%), from €45.4m to €48.8m
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
€2.3m
Turnover
+€5.3m
Other operating income
-€369,298
Goods and materials
+€483,116
Services and other goods
-€3.4m
Staff costs
-€435,818
Depreciation
+€79,500
Write-downs
-€261,627
Provisions
+€200,043
Other operating charges
-€870,079
Other operating items
-€329,952
Financial income
-€154,913
Financial charges
-€268,416
Taxes
+€4,240
Result 2025
€2.3m
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.
From operations
-€2.2m
Investment
-€800,778
Financing
+€4,738
Cash 2024
€11.1m
From operations (derived)
-€2.2m
Net result for the year
+€2.3m
Depreciation
+€2.1m
Stocks and contracts
+€352,721
Receivables within one year
+€4.9m
Deferred charges and accrued income
+€312,563
Provisions
-€115,603
Trade debts
+€2.8m
Tax, wage and social debts
+€109,200
Other debts
-€15.0m
Investment (derived)
-€800,778
Investment in fixed assets (net)
-€800,778
Financing
+€4,738
Short-term financial debts
+€4,738
Cash 2025
€8.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €64,080,204 | €54,132,610 | -€9.9m | -15.5% |
| Formation expenses | 20 | €0 | €0 | = | 0.0% |
| Fixed assets | 21/28 | €18,359,849 | €17,050,407 | -€1.3m | -7.1% |
| Intangible fixed assets | 21 | €3,000 | €2,250 | -€750 | -25.0% |
| Tangible fixed assets | 22/27 | €18,012,766 | €16,695,198 | -€1.3m | -7.3% |
| Land and buildings | 22 | €5,771,278 | €5,755,268 | -€16,009 | -0.3% |
| Plant, machinery and equipment | 23 | €11,704,631 | €10,601,335 | -€1.1m | -9.4% |
| Furniture and vehicles | 24 | €56,584 | €35,486 | -€21,097 | -37.3% |
| Assets under construction and advance payments | 27 | €480,274 | €303,109 | -€177,165 | -36.9% |
| Financial fixed assets | 28 | €344,083 | €352,959 | +€8,876 | +2.6% |
| Other financial fixed assets | 284/8 | €344,083 | €352,959 | +€8,876 | +2.6% |
| Amounts receivable and cash guarantees | 285/8 | €344,083 | €352,959 | +€8,876 | +2.6% |
| Current assets | 29/58 | €45,720,355 | €37,082,203 | -€8.6m | -18.9% |
| Stocks and contracts in progress | 3 | €12,840,120 | €12,487,399 | -€352,721 | -2.7% |
| Stocks | 30/36 | €12,840,120 | €12,487,399 | -€352,721 | -2.7% |
| Raw materials and consumables | 30/31 | €5,037,660 | €5,045,623 | +€7,963 | +0.2% |
| Work in progress | 32 | €3,389,276 | €3,351,762 | -€37,515 | -1.1% |
| Finished goods | 33 | €4,413,183 | €4,090,014 | -€323,169 | -7.3% |
| Amounts receivable within one year | 40/41 | €20,739,046 | €15,789,152 | -€4.9m | -23.9% |
| Trade receivables | 40 | €20,434,759 | €15,620,990 | -€4.8m | -23.6% |
| Other amounts receivable | 41 | €304,287 | €168,162 | -€136,125 | -44.7% |
| Cash at bank and in hand | 54/58 | €11,055,435 | €8,032,460 | -€3.0m | -27.3% |
| Deferred charges and accrued income | 490/1 | €1,085,754 | €773,191 | -€312,563 | -28.8% |
| Total equity and liabilities | 10/49 | €64,080,204 | €54,132,610 | -€9.9m | -15.5% |
| Equity | 10/15 | €20,042,606 | €22,346,513 | +€2.3m | +11.5% |
| Contributions | 10/11 | €4,561,500 | €4,561,500 | = | 0.0% |
| Capital | 10 | €61,502 | €61,502 | = | 0.0% |
| Issued capital | 100 | €61,502 | €61,502 | = | 0.0% |
| Outside capital | 11 | €4,499,998 | €4,499,998 | = | 0.0% |
| Other | 1109/19 | €4,499,998 | €4,499,998 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,474,955 | €17,778,863 | +€2.3m | +14.9% |
| Provisions and deferred taxes | 16 | €360,014 | €244,411 | -€115,603 | -32.1% |
| Provisions for liabilities and charges | 160/5 | €360,014 | €244,411 | -€115,603 | -32.1% |
| Pensions and similar obligations | 160 | €360,014 | €244,411 | -€115,603 | -32.1% |
| Amounts payable | 17/49 | €43,677,584 | €31,541,685 | -€12.1m | -27.8% |
| Amounts payable within one year | 42/48 | €43,677,584 | €31,541,685 | -€12.1m | -27.8% |
| Financial debts | 43 | €2,616 | €7,354 | +€4,738 | +181.1% |
| Credit institutions | 430/8 | €2,616 | €7,354 | +€4,738 | +181.1% |
| Trade debts | 44 | €25,278,142 | €28,028,305 | +€2.8m | +10.9% |
| Suppliers | 440/4 | €25,278,142 | €28,028,305 | +€2.8m | +10.9% |
| Taxes, remuneration and social security | 45 | €3,396,826 | €3,506,026 | +€109,200 | +3.2% |
| Taxes | 450/3 | €467,037 | €499,927 | +€32,890 | +7.0% |
| Remuneration and social security | 454/9 | €2,929,789 | €3,006,099 | +€76,309 | +2.6% |
| Other amounts payable | 47/48 | €15,000,000 | €0 | -€15.0m | -100.0% |
| Operating income | 70/76A | €129,203,492 | €133,754,835 | +€4.6m | +3.5% |
| Turnover | 70 | €126,864,259 | €132,166,572 | +€5.3m | +4.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €201,149 | -€180,880 | -€382,029 | |
| Other operating income | 74 | €2,136,362 | €1,767,064 | -€369,298 | -17.3% |
| Non-recurring operating income | 76A | €1,722 | €2,079 | +€357 | +20.7% |
| Operating charges | 60/66A | €126,146,905 | €130,297,267 | +€4.2m | +3.3% |
| Goods for resale, raw materials and consumables | 60 | €61,366,808 | €60,883,693 | -€483,116 | -0.8% |
| Purchases | 600/8 | €58,427,926 | €60,975,355 | +€2.5m | +4.4% |
| Change in stocks: decrease (increase) | 609 | €2,938,882 | -€91,662 | -€3.0m | |
| Services and other goods | 61 | €45,428,823 | €48,826,041 | +€3.4m | +7.5% |
| Remuneration, social security and pensions | 62 | €16,038,722 | €16,474,540 | +€435,818 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,189,721 | €2,110,221 | -€79,500 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€182 | €261,445 | +€261,627 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €84,440 | -€115,603 | -€200,043 | |
| Other operating charges | 640/8 | €984,618 | €1,854,696 | +€870,079 | +88.4% |
| Non-recurring operating charges | 66A | €53,954 | €2,234 | -€51,720 | -95.9% |
| Operating profit (loss) | 9901 | €3,056,587 | €3,457,568 | +€400,981 | +13.1% |
| Financial income | 75/76B | €457,481 | €302,569 | -€154,913 | -33.9% |
| Recurring financial income | 75 | €457,481 | €302,569 | -€154,913 | -33.9% |
| Income from current assets | 751 | €447,352 | €188,796 | -€258,556 | -57.8% |
| Other financial income | 752/9 | €10,129 | €113,773 | +€103,643 | +1023.2% |
| Financial charges | 65/66B | €280,768 | €549,184 | +€268,416 | +95.6% |
| Recurring financial charges | 65 | €280,768 | €549,184 | +€268,416 | +95.6% |
| Debt charges | 650 | €262,607 | €257,351 | -€5,257 | -2.0% |
| Other financial charges | 652/9 | €18,161 | €291,834 | +€273,673 | +1506.9% |
| Profit (loss) for the period before taxes | 9903 | €3,233,300 | €3,210,952 | -€22,348 | -0.7% |
| Income taxes | 67/77 | €911,285 | €907,044 | -€4,240 | -0.5% |
| Taxes | 670/3 | €911,285 | €917,185 | +€5,901 | +0.6% |
| Tax adjustments and reversals of tax provisions | 77 | - | €10,141 | +€10,141 | |
| Profit (loss) for the period | 9904 | €2,322,015 | €2,303,908 | -€18,108 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,322,015 | €2,303,908 | -€18,108 | -0.8% |
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 3 October 2026 via checked.be.