SOFINDEV MANAGEMENT: 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.
SOFINDEV MANAGEMENT
Largest movements
- Cash -€1.6m
down €1.6m (-75.9%), from €2.1m to €514,778
mainly Other debts (-€1.5m) and Contributions, distributions and other (-€1.3m)
- Financial fixed assets +€329,421
up €329,421 (+1,220%), from €27,000 to €356,421
- Receivables within one year +€42,874
up €42,874 (+151%), from €28,391 to €71,265
of which Trade receivables: +€37,999
- Deferred charges and accrued income +€40,350
up €40,350 (+38.7%), from €104,366 to €144,715
- Other debts -€1.5m
down €1.5m (-99.6%), from €1.5m to €6,021
- Profit (loss) carried forward +€201,909
up €201,909 (+271%), from €74,400 to €276,309
- Tax, wage and social debts +€190,050
up €190,050 (+64.6%), from €294,009 to €484,059
of which Taxes: +€111,594
- Trade debts -€123,744
down €123,744 (-24.7%), from €500,016 to €376,272
- Gross operating margin -€1.8m
down €1.8m (-34.1%), from €5.3m to €3.5m
- Taxes -€479,061
down €479,061 (-47.8%), from €1.0m to €522,661
- Staff costs +€202,913
up €202,913 (+17.1%), from €1.2m to €1.4m
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
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 | €2,507,384 | €1,281,621 | -€1.2m | -48.9% |
| Fixed assets | 21/28 | €234,667 | €550,864 | +€316,197 | +135% |
| Tangible fixed assets | 22/27 | €207,666 | €194,443 | -€13,224 | -6.4% |
| Furniture and vehicles | 24 | €92,528 | €98,962 | +€6,433 | +7.0% |
| Other tangible fixed assets | 26 | €115,138 | €95,481 | -€19,657 | -17.1% |
| Financial fixed assets | 28 | €27,000 | €356,421 | +€329,421 | +1,220% |
| Current assets | 29/58 | €2,272,718 | €730,758 | -€1.5m | -67.8% |
| Amounts receivable within one year | 40/41 | €28,391 | €71,265 | +€42,874 | +151% |
| Trade receivables | 40 | €20,633 | €58,632 | +€37,999 | +184% |
| Other amounts receivable | 41 | €7,757 | €12,632 | +€4,875 | +62.8% |
| Cash at bank and in hand | 54/58 | €2,139,961 | €514,778 | -€1.6m | -75.9% |
| Deferred charges and accrued income | 490/1 | €104,366 | €144,715 | +€40,350 | +38.7% |
| Total equity and liabilities | 10/49 | €2,507,384 | €1,281,621 | -€1.2m | -48.9% |
| Equity | 10/15 | €213,360 | €415,269 | +€201,909 | +94.6% |
| Contributions | 10/11 | €71,500 | €71,500 | = | 0.0% |
| Capital | 10 | €71,500 | €71,500 | = | 0.0% |
| Issued capital | 100 | €71,500 | €71,500 | = | 0.0% |
| Reserves | 13 | €67,460 | €67,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,150 | €7,150 | = | 0.0% |
| Legal reserve | 130 | €7,150 | €7,150 | = | 0.0% |
| Distributable reserves | 133 | €60,310 | €60,310 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,400 | €276,309 | +€201,909 | +271% |
| Amounts payable | 17/49 | €2,294,024 | €866,352 | -€1.4m | -62.2% |
| Amounts payable within one year | 42/48 | €2,294,024 | €866,352 | -€1.4m | -62.2% |
| Trade debts | 44 | €500,016 | €376,272 | -€123,744 | -24.7% |
| Suppliers | 440/4 | €500,016 | €376,272 | -€123,744 | -24.7% |
| Taxes, remuneration and social security | 45 | €294,009 | €484,059 | +€190,050 | +64.6% |
| Taxes | 450/3 | €5,014 | €116,607 | +€111,594 | +2,226% |
| Remuneration and social security | 454/9 | €288,995 | €367,452 | +€78,457 | +27.1% |
| Other amounts payable | 47/48 | €1,500,000 | €6,021 | -€1.5m | -99.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,188,571 | €1,391,484 | +€202,913 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,594 | €51,991 | +€5,397 | +11.6% |
| Other operating charges | 640/8 | €17,028 | €10,417 | -€6,611 | -38.8% |
| Gross operating margin | 9900 | €5,298,388 | €3,492,876 | -€1.8m | -34.1% |
| Operating profit (loss) | 9901 | €4,046,195 | €2,038,984 | -€2.0m | -49.6% |
| Financial income | 75/76B | €947 | €1,867 | +€920 | +97.1% |
| Recurring financial income | 75 | €947 | €1,867 | +€920 | +97.1% |
| Financial charges | 65/66B | €10,815 | €16,281 | +€5,466 | +50.5% |
| Recurring financial charges | 65 | €10,815 | €16,281 | +€5,466 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | €4,036,327 | €2,024,570 | -€2.0m | -49.8% |
| Income taxes | 67/77 | €1,001,722 | €522,661 | -€479,061 | -47.8% |
| Profit (loss) for the period | 9904 | €3,034,605 | €1,501,909 | -€1.5m | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,034,605 | €1,501,909 | -€1.5m | -50.5% |
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 17 October 2026 via checked.be.