SOFIE PAPEN: 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.
SOFIE PAPEN
Largest movements
- Receivables within one year +€121,024
up €121,024 (+49.2%), from €245,929 to €366,953
of which Other amounts receivable: +€82,000
- Cash -€66,830
down €66,830 (-73.4%), from €91,100 to €24,270
mainly Receivables within one year (-€121,024) and Debts after one year (-€23,664)
- Financial fixed assets +€20,000
up €20,000 (+3.9%), from €508,580 to €528,580
- Reserves +€101,950
up €101,950 (+20.5%), from €497,112 to €599,062
- Debts after one year -€23,664
down €23,664 (-20.3%), from €116,496 to €92,832
- Other debts -€17,175
down €17,175 (-9.8%), from €174,369 to €157,194
- Gross operating margin +€61,675
up €61,675 (+55.6%), from €110,858 to €172,533
- Taxes +€20,838
up €20,838 (+73.7%), from €28,262 to €49,100
- Financial charges -€3,306
down €3,306 (-14.8%), from €22,412 to €19,106
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 | €863,005 | €934,731 | +€71,727 | +8.3% |
| Fixed assets | 21/28 | €525,976 | €543,508 | +€17,533 | +3.3% |
| Tangible fixed assets | 22/27 | €17,395 | €14,928 | -€2,467 | -14.2% |
| Other tangible fixed assets | 26 | €17,395 | €14,928 | -€2,467 | -14.2% |
| Financial fixed assets | 28 | €508,580 | €528,580 | +€20,000 | +3.9% |
| Current assets | 29/58 | €337,029 | €391,223 | +€54,194 | +16.1% |
| Amounts receivable within one year | 40/41 | €245,929 | €366,953 | +€121,024 | +49.2% |
| Trade receivables | 40 | €18,385 | €57,409 | +€39,024 | +212.3% |
| Other amounts receivable | 41 | €227,544 | €309,544 | +€82,000 | +36.0% |
| Cash at bank and in hand | 54/58 | €91,100 | €24,270 | -€66,830 | -73.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €863,005 | €934,731 | +€71,727 | +8.3% |
| Equity | 10/15 | €515,712 | €617,662 | +€101,950 | +19.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €497,112 | €599,062 | +€101,950 | +20.5% |
| Distributable reserves | 133 | €497,112 | €599,062 | +€101,950 | +20.5% |
| Amounts payable | 17/49 | €347,293 | €317,069 | -€30,224 | -8.7% |
| Amounts payable after more than one year | 17 | €116,496 | €92,832 | -€23,664 | -20.3% |
| Financial debts | 170/4 | €116,496 | €92,832 | -€23,664 | -20.3% |
| Amounts payable within one year | 42/48 | €230,797 | €224,237 | -€6,559 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €22,755 | €23,664 | +€909 | +4.0% |
| Financial debts | 43 | €11,775 | €20,555 | +€8,780 | +74.6% |
| Credit institutions | 430/8 | €11,775 | €20,555 | +€8,780 | +74.6% |
| Trade debts | 44 | €1,363 | €1,047 | -€317 | -23.2% |
| Suppliers | 440/4 | €1,363 | €1,047 | -€317 | -23.2% |
| Taxes, remuneration and social security | 45 | €20,534 | €21,777 | +€1,242 | +6.1% |
| Taxes | 450/3 | €17,568 | €21,777 | +€4,208 | +24.0% |
| Remuneration and social security | 454/9 | €2,966 | €0 | -€2,966 | -100.0% |
| Other amounts payable | 47/48 | €174,369 | €157,194 | -€17,175 | -9.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,427 | €2,467 | +€41 | +1.7% |
| Other operating charges | 640/8 | €835 | €707 | -€128 | -15.3% |
| Gross operating margin | 9900 | €110,858 | €172,533 | +€61,675 | +55.6% |
| Operating profit (loss) | 9901 | €107,596 | €169,359 | +€61,762 | +57.4% |
| Financial income | 75/76B | €784 | €798 | +€14 | +1.8% |
| Recurring financial income | 75 | €784 | €798 | +€14 | +1.8% |
| Financial charges | 65/66B | €22,412 | €19,106 | -€3,306 | -14.8% |
| Recurring financial charges | 65 | €22,412 | €19,106 | -€3,306 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €85,968 | €151,050 | +€65,083 | +75.7% |
| Income taxes | 67/77 | €28,262 | €49,100 | +€20,838 | +73.7% |
| Profit (loss) for the period | 9904 | €57,706 | €101,950 | +€44,244 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,706 | €101,950 | +€44,244 | +76.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.