Sofradi: 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.
Sofradi
Largest movements
- Cash +€585,816
up €585,816 (+245.8%), from €238,330 to €824,146
mainly Net result for the year (+€201,333) and Current investments (+€200,000)
- Tangible fixed assets -€270,461
down €270,461 (-6.2%), from €4.4m to €4.1m
of which Land and buildings: -€309,944
- Current investments -€200,000
down €200,000 (-37.0%), from €540,911 to €340,911
- Reserves +€201,271
up €201,271 (+9.2%), from €2.2m to €2.4m
of which Distributable reserves: +€211,800
- Current portion of long-term debt -€100,000
down €100,000 (-25.0%), from €400,000 to €300,000
- Gross operating margin +€102,106
up €102,106 (+24.0%), from €424,933 to €527,039
- Taxes +€28,740
up €28,740 (+41.2%), from €69,676 to €98,416
- Depreciation +€11,362
up €11,362 (+7.8%), from €145,228 to €156,589
- Other operating charges +€10,278
up €10,278 (+17.6%), from €58,444 to €68,722
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 | €5,140,679 | €5,267,037 | +€126,359 | +2.5% |
| Fixed assets | 21/28 | €4,350,523 | €4,080,062 | -€270,461 | -6.2% |
| Tangible fixed assets | 22/27 | €4,350,523 | €4,080,062 | -€270,461 | -6.2% |
| Land and buildings | 22 | €4,307,874 | €3,997,930 | -€309,944 | -7.2% |
| Plant, machinery and equipment | 23 | €964 | €1,594 | +€630 | +65.3% |
| Furniture and vehicles | 24 | €41,685 | €80,537 | +€38,852 | +93.2% |
| Current assets | 29/58 | €790,156 | €1,186,975 | +€396,820 | +50.2% |
| Amounts receivable after more than one year | 29 | €8,925 | €0 | -€8,925 | -100.0% |
| Other amounts receivable | 291 | €8,925 | €0 | -€8,925 | -100.0% |
| Amounts receivable within one year | 40/41 | €0 | €19,958 | +€19,958 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €19,958 | +€19,958 | |
| Current investments | 50/53 | €540,911 | €340,911 | -€200,000 | -37.0% |
| Cash at bank and in hand | 54/58 | €238,330 | €824,146 | +€585,816 | +245.8% |
| Deferred charges and accrued income | 490/1 | €1,990 | €1,960 | -€29 | -1.5% |
| Total equity and liabilities | 10/49 | €5,140,679 | €5,267,037 | +€126,359 | +2.5% |
| Equity | 10/15 | €4,510,942 | €4,712,275 | +€201,333 | +4.5% |
| Contributions | 10/11 | €2,330,112 | €2,330,112 | = | 0.0% |
| Capital | 10 | €2,330,112 | €2,330,112 | = | 0.0% |
| Issued capital | 100 | €2,330,112 | €2,330,112 | = | 0.0% |
| Reserves | 13 | €2,176,461 | €2,377,732 | +€201,271 | +9.2% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €257,641 | €247,112 | -€10,529 | -4.1% |
| Distributable reserves | 133 | €1,768,820 | €1,980,620 | +€211,800 | +12.0% |
| Profit (loss) carried forward | 14 | €4,369 | €4,430 | +€62 | +1.4% |
| Provisions and deferred taxes | 16 | €132,665 | €127,244 | -€5,422 | -4.1% |
| Deferred taxes | 168 | €132,665 | €127,244 | -€5,422 | -4.1% |
| Amounts payable | 17/49 | €497,072 | €427,519 | -€69,553 | -14.0% |
| Amounts payable within one year | 42/48 | €475,030 | €409,513 | -€65,517 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Trade debts | 44 | €11,079 | €15,842 | +€4,763 | +43.0% |
| Suppliers | 440/4 | €11,079 | €15,842 | +€4,763 | +43.0% |
| Taxes, remuneration and social security | 45 | €18,628 | €39,808 | +€21,180 | +113.7% |
| Taxes | 450/3 | €18,628 | €39,808 | +€21,180 | +113.7% |
| Other amounts payable | 47/48 | €45,323 | €53,863 | +€8,540 | +18.8% |
| Accrued charges and deferred income | 492/3 | €22,042 | €18,006 | -€4,036 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,228 | €156,589 | +€11,362 | +7.8% |
| Other operating charges | 640/8 | €58,444 | €68,722 | +€10,278 | +17.6% |
| Gross operating margin | 9900 | €424,933 | €527,039 | +€102,106 | +24.0% |
| Operating profit (loss) | 9901 | €221,261 | €301,728 | +€80,467 | +36.4% |
| Financial income | 75/76B | €4,169 | €6,811 | +€2,642 | +63.4% |
| Recurring financial income | 75 | €4,169 | €6,811 | +€2,642 | +63.4% |
| Financial charges | 65/66B | €17,173 | €14,211 | -€2,962 | -17.2% |
| Recurring financial charges | 65 | €17,173 | €14,211 | -€2,962 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €208,258 | €294,327 | +€86,070 | +41.3% |
| Transfer from deferred taxes | 780 | €5,422 | €5,422 | = | 0.0% |
| Income taxes | 67/77 | €69,676 | €98,416 | +€28,740 | +41.2% |
| Profit (loss) for the period | 9904 | €144,003 | €201,333 | +€57,330 | +39.8% |
| Transfer from tax-exempt reserves | 789 | €10,529 | €10,529 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €154,532 | €211,862 | +€57,330 | +37.1% |
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.