Sofreh: 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.
Sofreh
Largest movements
- Receivables within one year -€55,557
down €55,557 (-33.4%), from €166,422 to €110,865
of which Other amounts receivable: -€48,740
- Cash -€16,432
down €16,432 (-79.0%), from €20,812 to €4,380
mainly Contributions, distributions and other (-€150,000) and Investment in fixed assets (net) (-€2,100)
- Reserves -€134,994
down €134,994 (-71.8%), from €188,025 to €53,031
- Debts after one year +€38,757
up €38,757 (+141.3%), from €27,426 to €66,183
of which Other amounts payable: +€50,000
- Tax, wage and social debts +€14,962
up €14,962 (+84.9%), from €17,632 to €32,594
- Other debts +€10,479
up €10,479 (+43.6%), from €24,053 to €34,532
- Gross operating margin -€103,208
down €103,208 (-74.0%), from €139,526 to €36,318
- Write-downs +€8,124
new in 2025: €8,124
- Financial income -€3,720
down €3,720 (-100.0%), from €3,720 to €0
- Taxes +€2,821
up €2,821 (+803.0%), from €351 to €3,172
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 | €280,227 | €208,029 | -€72,198 | -25.8% |
| Fixed assets | 21/28 | €90,782 | €90,077 | -€705 | -0.8% |
| Tangible fixed assets | 22/27 | €11,747 | €11,042 | -€705 | -6.0% |
| Furniture and vehicles | 24 | €1,540 | €2,521 | +€982 | +63.7% |
| Other tangible fixed assets | 26 | €10,208 | €8,521 | -€1,687 | -16.5% |
| Financial fixed assets | 28 | €79,035 | €79,035 | = | 0.0% |
| Current assets | 29/58 | €189,444 | €117,952 | -€71,493 | -37.7% |
| Amounts receivable within one year | 40/41 | €166,422 | €110,865 | -€55,557 | -33.4% |
| Trade receivables | 40 | €24,853 | €18,036 | -€6,817 | -27.4% |
| Other amounts receivable | 41 | €141,569 | €92,829 | -€48,740 | -34.4% |
| Cash at bank and in hand | 54/58 | €20,812 | €4,380 | -€16,432 | -79.0% |
| Deferred charges and accrued income | 490/1 | €2,210 | €2,706 | +€496 | +22.4% |
| Total equity and liabilities | 10/49 | €280,227 | €208,029 | -€72,198 | -25.8% |
| Equity | 10/15 | €191,025 | €56,031 | -€134,994 | -70.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €188,025 | €53,031 | -€134,994 | -71.8% |
| Distributable reserves | 133 | €188,025 | €53,031 | -€134,994 | -71.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €89,202 | €151,998 | +€62,796 | +70.4% |
| Amounts payable after more than one year | 17 | €27,426 | €66,183 | +€38,757 | +141.3% |
| Financial debts | 170/4 | €27,426 | €16,183 | -€11,243 | -41.0% |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €61,775 | €85,814 | +€24,039 | +38.9% |
| Current portion of amounts payable after more than one year | 42 | €11,096 | €11,243 | +€147 | +1.3% |
| Financial debts | 43 | €2,320 | €1,876 | -€443 | -19.1% |
| Credit institutions | 430/8 | €2,320 | €1,876 | -€443 | -19.1% |
| Trade debts | 44 | €6,675 | €5,569 | -€1,106 | -16.6% |
| Suppliers | 440/4 | €6,675 | €5,569 | -€1,106 | -16.6% |
| Taxes, remuneration and social security | 45 | €17,632 | €32,594 | +€14,962 | +84.9% |
| Taxes | 450/3 | €17,632 | €32,594 | +€14,962 | +84.9% |
| Other amounts payable | 47/48 | €24,053 | €34,532 | +€10,479 | +43.6% |
| Non-recurring operating income | 76A | €142,979 | €0 | -€142,979 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,699 | €2,805 | +€106 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,124 | +€8,124 | |
| Other operating charges | 640/8 | €1,093 | €1,303 | +€211 | +19.3% |
| Gross operating margin | 9900 | €139,526 | €36,318 | -€103,208 | -74.0% |
| Operating profit (loss) | 9901 | €135,734 | €24,086 | -€111,649 | -82.3% |
| Financial income | 75/76B | €3,720 | €0 | -€3,720 | -100.0% |
| Recurring financial income | 75 | €3,720 | €0 | -€3,720 | -100.0% |
| Financial charges | 65/66B | €5,706 | €5,907 | +€201 | +3.5% |
| Recurring financial charges | 65 | €5,706 | €5,907 | +€201 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €133,748 | €18,179 | -€115,570 | -86.4% |
| Income taxes | 67/77 | €351 | €3,172 | +€2,821 | +803.0% |
| Profit (loss) for the period | 9904 | €133,397 | €15,006 | -€118,391 | -88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €133,397 | €15,006 | -€118,391 | -88.8% |
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.