SOFINPAC: 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
SOFINPAC
NACE 46.190, Agents in non-specialised wholesale trade
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€13,364
2025 · -€72,150+€85,514
Equity
€1.9m
2025 · €1.9m+€13,365
Cash
€107,666
2025 · €156,170-€48,504
Balance sheet total
€2.0m
2025 · €2.0m-€20,184
Largest movements
Assets
- Cash -€48,504
down €48,504 (-31.1%), from €156,170 to €107,666
mainly Tax, wage and social debts (-€27,712) and Receivables within one year (-€25,337)
- Receivables within one year +€25,337
up €25,337 (+19.8%), from €128,113 to €153,450
of which Other amounts receivable: +€25,105
Equity and liabilities
- Tax, wage and social debts -€27,712
down €27,712 (-75.2%), from €36,834 to €9,122
of which Taxes: -€27,224
Income statement
- Taxes -€15,680
down €15,680 (-93.6%), from €16,756 to €1,076
- Gross operating margin -€14,824
down €14,824 (-17.8%), from €83,328 to €68,504
- Write-downs -€5,144
no longer reported in 2026 (was €5,144)
- Other operating charges +€1,542
up €1,542 (+53.5%), from €2,881 to €4,423
- Staff costs +€1,207
up €1,207 (+2.7%), from €45,034 to €46,241
From the 2025 result to the 2026 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 2025
-€72,150
Gross operating margin
-€14,824
Staff costs
-€1,207
Depreciation
+€165
Write-downs
+€5,144
Other operating charges
-€1,542
Other operating items
+€83,596
Financial income
-€978
Financial charges
-€520
Taxes
+€15,680
Result 2026
€13,364
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€45,348
Investment
-€279
Financing
-€2,877
Cash 2025
€156,170
From operations (derived)
-€45,348
Net result for the year
+€13,364
Stocks and contracts
-€6,690
Receivables within one year
-€25,337
Deferred charges and accrued income
+€3,987
Trade debts
-€2,959
Tax, wage and social debts
-€27,712
Investment (derived)
-€279
Investment in fixed assets (net)
-€279
Current investments
-€0
Financing
-€2,877
Debts after one year
-€3,124
Short-term financial debts
+€246
Contributions, distributions and other
+€0
Cash 2026
€107,666
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,990,361 | €1,970,177 | -€20,184 | -1.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,652,586 | €1,652,865 | +€279 | 0.0% |
| Intangible fixed assets | 21 | €0 | €280 | +€280 | |
| Tangible fixed assets | 22/27 | €58,986 | €58,985 | -€1 | 0.0% |
| Land and buildings | 22 | €24,246 | €24,246 | -€0 | 0.0% |
| Plant, machinery and equipment | 23 | €34,740 | €34,740 | -€0 | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,593,600 | €1,593,600 | = | 0.0% |
| Current assets | 29/58 | €337,775 | €317,312 | -€20,463 | -6.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €0 | €6,690 | +€6,690 | |
| Stocks | 30/36 | €0 | €6,690 | +€6,690 | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €128,113 | €153,450 | +€25,337 | +19.8% |
| Trade receivables | 40 | €0 | €233 | +€233 | |
| Other amounts receivable | 41 | €128,113 | €153,218 | +€25,105 | +19.6% |
| Current investments | 50/53 | €49,505 | €49,505 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €156,170 | €107,666 | -€48,504 | -31.1% |
| Deferred charges and accrued income | 490/1 | €3,987 | - | -€3,987 | |
| Total equity and liabilities | 10/49 | €1,990,361 | €1,970,177 | -€20,184 | -1.0% |
| Equity | 10/15 | €1,904,073 | €1,917,438 | +€13,365 | +0.7% |
| Contributions | 10/11 | €99,157 | €99,157 | +€0 | 0.0% |
| Capital | 10 | €99,157 | €99,157 | +€0 | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | +€0 | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Revaluation surpluses | 12 | €1,440,058 | €1,440,058 | +€0 | 0.0% |
| Reserves | 13 | €96,528 | €96,528 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €6,528 | €6,528 | +€0 | 0.0% |
| Legal reserve | 130 | €6,528 | €6,528 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Financial assistance | 1313 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €268,330 | €281,694 | +€13,364 | +5.0% |
| Investment grants | 15 | €0 | - | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €86,288 | €52,739 | -€33,549 | -38.9% |
| Amounts payable after more than one year | 17 | €3,387 | €263 | -€3,124 | -92.2% |
| Financial debts | 170/4 | €3,387 | €263 | -€3,124 | -92.2% |
| Trade debts | 175 | €0 | - | = | |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €82,901 | €52,476 | -€30,425 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €40,266 | €40,512 | +€246 | +0.6% |
| Credit institutions | 430/8 | €40,266 | €40,512 | +€246 | +0.6% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €5,801 | €2,842 | -€2,959 | -51.0% |
| Suppliers | 440/4 | €5,801 | €2,842 | -€2,959 | -51.0% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €36,834 | €9,122 | -€27,712 | -75.2% |
| Taxes | 450/3 | €36,225 | €9,001 | -€27,224 | -75.2% |
| Remuneration and social security | 454/9 | €609 | €121 | -€488 | -80.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €26,346 | - | -€26,346 | |
| Remuneration, social security and pensions | 62 | €45,034 | €46,241 | +€1,207 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165 | - | -€165 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,144 | - | -€5,144 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €2,881 | €4,423 | +€1,542 | +53.5% |
| Non-recurring operating charges | 66A | €84,399 | €803 | -€83,596 | -99.0% |
| Gross operating margin | 9900 | €83,328 | €68,504 | -€14,824 | -17.8% |
| Operating profit (loss) | 9901 | -€54,295 | €17,037 | +€71,332 | |
| Financial income | 75/76B | €1,955 | €977 | -€978 | -50.0% |
| Recurring financial income | 75 | €1,955 | €977 | -€978 | -50.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,054 | €3,574 | +€520 | +17.0% |
| Recurring financial charges | 65 | €3,054 | €3,574 | +€520 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | -€55,394 | €14,440 | +€69,834 | |
| Income taxes | 67/77 | €16,756 | €1,076 | -€15,680 | -93.6% |
| Profit (loss) for the period | 9904 | -€72,150 | €13,364 | +€85,514 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,150 | €13,364 | +€85,514 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.