SOFRES: 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.
SOFRES
Largest movements
- Financial fixed assets -€50,000
no longer reported in 2025 (was €50,000)
- Deferred charges and accrued income +€12,925
up €12,925 (+5365.4%), from €241 to €13,166
- Cash +€12,664
up €12,664 (+27.6%), from €45,805 to €58,469
mainly Investment in fixed assets (net) (+€50,000) and Other debts (+€42,226)
- Tangible fixed assets -€11,668
down €11,668 (-43.4%), from €26,872 to €15,204
of which Leasing and similar rights: -€10,343
- Current investments +€10,943
up €10,943 (+36.7%), from €29,842 to €40,785
- Profit (loss) carried forward -€59,593
down €59,593 (-83.1%), from €71,695 to €12,102
- Other debts +€42,226
up €42,226 (+474449.8%), from €9 to €42,235
- Debts after one year -€10,591
down €10,591 (-79.9%), from €13,262 to €2,671
- Trade debts +€3,303
up €3,303 (+207.2%), from €1,594 to €4,898
- Financial charges +€51,474
up €51,474 (+8289.8%), from €621 to €52,095
- Gross operating margin -€41,099
down €41,099 (-41.9%), from €98,098 to €56,998
- Taxes -€22,030
no longer reported in 2025 (was €22,030)
- Financial income -€1,807
down €1,807 (-72.3%), from €2,500 to €693
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 | €184,635 | €161,621 | -€23,013 | -12.5% |
| Fixed assets | 21/28 | €76,872 | €15,204 | -€61,668 | -80.2% |
| Tangible fixed assets | 22/27 | €26,872 | €15,204 | -€11,668 | -43.4% |
| Furniture and vehicles | 24 | €3,466 | €2,141 | -€1,325 | -38.2% |
| Leasing and similar rights | 25 | €23,405 | €13,063 | -€10,343 | -44.2% |
| Financial fixed assets | 28 | €50,000 | - | -€50,000 | |
| Current assets | 29/58 | €107,763 | €146,418 | +€38,654 | +35.9% |
| Amounts receivable within one year | 40/41 | €31,875 | €33,998 | +€2,123 | +6.7% |
| Trade receivables | 40 | €26,851 | €33,998 | +€7,147 | +26.6% |
| Other amounts receivable | 41 | €5,024 | - | -€5,024 | |
| Current investments | 50/53 | €29,842 | €40,785 | +€10,943 | +36.7% |
| Cash at bank and in hand | 54/58 | €45,805 | €58,469 | +€12,664 | +27.6% |
| Deferred charges and accrued income | 490/1 | €241 | €13,166 | +€12,925 | +5365.4% |
| Total equity and liabilities | 10/49 | €184,635 | €161,621 | -€23,013 | -12.5% |
| Equity | 10/15 | €156,595 | €97,002 | -€59,593 | -38.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €72,500 | €72,500 | = | 0.0% |
| Distributable reserves | 133 | €72,500 | €72,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,695 | €12,102 | -€59,593 | -83.1% |
| Amounts payable | 17/49 | €28,040 | €64,620 | +€36,580 | +130.5% |
| Amounts payable after more than one year | 17 | €13,262 | €2,671 | -€10,591 | -79.9% |
| Financial debts | 170/4 | €13,262 | €2,671 | -€10,591 | -79.9% |
| Amounts payable within one year | 42/48 | €14,778 | €61,949 | +€47,171 | +319.2% |
| Current portion of amounts payable after more than one year | 42 | €10,447 | €10,591 | +€144 | +1.4% |
| Trade debts | 44 | €1,594 | €4,898 | +€3,303 | +207.2% |
| Suppliers | 440/4 | €1,594 | €4,898 | +€3,303 | +207.2% |
| Taxes, remuneration and social security | 45 | €2,727 | €4,225 | +€1,498 | +54.9% |
| Taxes | 450/3 | €2,727 | €4,225 | +€1,498 | +54.9% |
| Other amounts payable | 47/48 | €9 | €42,235 | +€42,226 | +474449.8% |
| Non-recurring operating income | 76A | €1,267 | - | -€1,267 | |
| Remuneration, social security and pensions | 62 | €1,658 | €1,658 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,989 | €11,668 | +€679 | +6.2% |
| Other operating charges | 640/8 | €1,793 | €1,864 | +€71 | +3.9% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €98,098 | €56,998 | -€41,099 | -41.9% |
| Operating profit (loss) | 9901 | €83,594 | €41,809 | -€41,786 | -50.0% |
| Financial income | 75/76B | €2,500 | €693 | -€1,807 | -72.3% |
| Recurring financial income | 75 | €2,500 | €693 | -€1,807 | -72.3% |
| Financial charges | 65/66B | €621 | €52,095 | +€51,474 | +8289.8% |
| Recurring financial charges | 65 | €621 | €52,095 | +€51,474 | +8289.8% |
| Profit (loss) for the period before taxes | 9903 | €85,474 | -€9,593 | -€95,067 | |
| Income taxes | 67/77 | €22,030 | - | -€22,030 | |
| Profit (loss) for the period | 9904 | €63,443 | -€9,593 | -€73,037 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,443 | -€9,593 | -€73,037 |
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 11 October 2026 via checked.be.