SOFRAZ: 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.
SOFRAZ
Largest movements
- Cash +€8,754
up €8,754 (+22.8%), from €38,417 to €47,171
mainly Trade debts (+€15,704) and Tax, wage and social debts (+€7,905)
- Receivables within one year -€4,697
down €4,697 (-21.0%), from €22,360 to €17,663
of which Other amounts receivable: -€5,745
- Tangible fixed assets -€2,938
down €2,938 (-14.7%), from €20,004 to €17,065
of which Land and buildings: -€2,088
- Deferred charges and accrued income -€935
no longer reported in 2025 (was €935)
- Profit (loss) carried forward -€32,718
down €32,718 (-398.5%), from -€8,211 to -€40,929
- Trade debts +€15,704
up €15,704 (+165.1%), from €9,512 to €25,216
- Tax, wage and social debts +€7,905
up €7,905 (+56.7%), from €13,935 to €21,840
of which Taxes: +€8,252
- Debts after one year +€4,527
new in 2025: €4,527
- Current portion of long-term debt +€2,573
new in 2025: €2,573
- Gross operating margin -€42,470
down €42,470 (-58.0%), from €73,214 to €30,744
- Staff costs -€2,192
down €2,192 (-4.0%), from €55,327 to €53,135
- Other operating charges -€2,051
down €2,051 (-30.2%), from €6,785 to €4,734
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 | €83,436 | €83,620 | +€184 | +0.2% |
| Fixed assets | 21/28 | €21,724 | €18,786 | -€2,938 | -13.5% |
| Tangible fixed assets | 22/27 | €20,004 | €17,065 | -€2,938 | -14.7% |
| Land and buildings | 22 | €16,784 | €14,695 | -€2,088 | -12.4% |
| Plant, machinery and equipment | 23 | €2,789 | €1,947 | -€842 | -30.2% |
| Furniture and vehicles | 24 | €431 | €423 | -€8 | -1.9% |
| Financial fixed assets | 28 | €1,721 | €1,721 | = | 0.0% |
| Current assets | 29/58 | €61,712 | €64,834 | +€3,123 | +5.1% |
| Amounts receivable within one year | 40/41 | €22,360 | €17,663 | -€4,697 | -21.0% |
| Trade receivables | 40 | €269 | €1,317 | +€1,048 | +390.3% |
| Other amounts receivable | 41 | €22,092 | €16,346 | -€5,745 | -26.0% |
| Cash at bank and in hand | 54/58 | €38,417 | €47,171 | +€8,754 | +22.8% |
| Deferred charges and accrued income | 490/1 | €935 | - | -€935 | |
| Total equity and liabilities | 10/49 | €83,436 | €83,620 | +€184 | +0.2% |
| Equity | 10/15 | €59,989 | €27,271 | -€32,718 | -54.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,211 | -€40,929 | -€32,718 | -398.5% |
| Amounts payable | 17/49 | €23,447 | €56,349 | +€32,903 | +140.3% |
| Amounts payable after more than one year | 17 | - | €4,527 | +€4,527 | |
| Financial debts | 170/4 | - | €4,527 | +€4,527 | |
| Amounts payable within one year | 42/48 | €23,447 | €51,822 | +€28,376 | +121.0% |
| Current portion of amounts payable after more than one year | 42 | - | €2,573 | +€2,573 | |
| Trade debts | 44 | €9,512 | €25,216 | +€15,704 | +165.1% |
| Suppliers | 440/4 | €9,512 | €25,216 | +€15,704 | +165.1% |
| Taxes, remuneration and social security | 45 | €13,935 | €21,840 | +€7,905 | +56.7% |
| Taxes | 450/3 | €2,377 | €10,629 | +€8,252 | +347.2% |
| Remuneration and social security | 454/9 | €11,558 | €11,211 | -€347 | -3.0% |
| Other amounts payable | 47/48 | - | €2,193 | +€2,193 | |
| Non-recurring operating income | 76A | €5,166 | - | -€5,166 | |
| Remuneration, social security and pensions | 62 | €55,327 | €53,135 | -€2,192 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,624 | €3,517 | -€107 | -3.0% |
| Other operating charges | 640/8 | €6,785 | €4,734 | -€2,051 | -30.2% |
| Gross operating margin | 9900 | €73,214 | €30,744 | -€42,470 | -58.0% |
| Operating profit (loss) | 9901 | €7,478 | -€30,641 | -€38,119 | |
| Financial income | 75/76B | €29 | €19 | -€10 | -35.3% |
| Recurring financial income | 75 | €29 | €19 | -€10 | -35.3% |
| Financial charges | 65/66B | €2,275 | €1,871 | -€404 | -17.7% |
| Recurring financial charges | 65 | €2,275 | €1,871 | -€404 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €5,232 | -€32,494 | -€37,726 | |
| Income taxes | 67/77 | - | €224 | +€224 | |
| Profit (loss) for the period | 9904 | €5,232 | -€32,718 | -€37,950 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,232 | -€32,718 | -€37,950 |
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 6 October 2026 via checked.be.