SOFT and SHINE: 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.
SOFT and SHINE
Largest movements
- Cash +€162,785
up €162,785 (+59.3%), from €274,653 to €437,438
mainly Net result for the year (+€184,215) and Receivables within one year (+€127,772)
- Receivables within one year -€127,772
down €127,772 (-82.0%), from €155,807 to €28,035
of which Other amounts receivable: -€142,756
- Tangible fixed assets +€105,648
up €105,648 (+46.2%), from €228,647 to €334,295
of which Plant, machinery and equipment: +€126,156
- Debts after one year +€50,768
up €50,768 (+138%), from €36,902 to €87,670
- Reserves +€48,433
up €48,433 (+10.8%), from €446,745 to €495,178
of which Distributable reserves: +€48,433
- Tax, wage and social debts +€45,780
up €45,780 (+208%), from €22,014 to €67,795
of which Taxes: +€36,429
- Current portion of long-term debt +€22,934
up €22,934 (+356%), from €6,445 to €29,379
- Trade debts -€21,415
down €21,415 (-20.7%), from €103,584 to €82,169
- Staff costs +€36,679
up €36,679 (+13.1%), from €280,182 to €316,861
- Gross operating margin +€33,777
up €33,777 (+5.5%), from €613,374 to €647,151
- Depreciation +€24,230
up €24,230 (+44.6%), from €54,297 to €78,528
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.
Derived cash bridge
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 | €1,020,719 | €1,168,335 | +€147,616 | +14.5% |
| Fixed assets | 21/28 | €258,409 | €363,103 | +€104,694 | +40.5% |
| Intangible fixed assets | 21 | €1,023 | €70 | -€954 | -93.2% |
| Tangible fixed assets | 22/27 | €228,647 | €334,295 | +€105,648 | +46.2% |
| Plant, machinery and equipment | 23 | €152,148 | €278,304 | +€126,156 | +82.9% |
| Furniture and vehicles | 24 | €11,790 | €15,151 | +€3,360 | +28.5% |
| Other tangible fixed assets | 26 | €64,709 | €40,840 | -€23,868 | -36.9% |
| Financial fixed assets | 28 | €28,739 | €28,739 | = | 0.0% |
| Current assets | 29/58 | €762,309 | €805,232 | +€42,922 | +5.6% |
| Stocks and contracts in progress | 3 | €21,387 | €21,387 | = | 0.0% |
| Stocks | 30/36 | €21,387 | €21,387 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €155,807 | €28,035 | -€127,772 | -82.0% |
| Trade receivables | 40 | €1,848 | €16,832 | +€14,984 | +811% |
| Other amounts receivable | 41 | €153,959 | €11,203 | -€142,756 | -92.7% |
| Current investments | 50/53 | €302,097 | €304,625 | +€2,528 | +0.8% |
| Cash at bank and in hand | 54/58 | €274,653 | €437,438 | +€162,785 | +59.3% |
| Deferred charges and accrued income | 490/1 | €8,365 | €13,746 | +€5,381 | +64.3% |
| Total equity and liabilities | 10/49 | €1,020,719 | €1,168,335 | +€147,616 | +14.5% |
| Equity | 10/15 | €508,245 | €556,678 | +€48,433 | +9.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €446,745 | €495,178 | +€48,433 | +10.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €440,595 | €489,028 | +€48,433 | +11.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €512,473 | €611,657 | +€99,184 | +19.4% |
| Amounts payable after more than one year | 17 | €36,902 | €87,670 | +€50,768 | +138% |
| Financial debts | 170/4 | €36,902 | €87,670 | +€50,768 | +138% |
| Amounts payable within one year | 42/48 | €475,571 | €523,987 | +€48,416 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €6,445 | €29,379 | +€22,934 | +356% |
| Financial debts | 43 | €14,418 | €14,349 | -€69 | -0.5% |
| Credit institutions | 430/8 | €14,418 | €14,349 | -€69 | -0.5% |
| Trade debts | 44 | €103,584 | €82,169 | -€21,415 | -20.7% |
| Suppliers | 440/4 | €103,584 | €82,169 | -€21,415 | -20.7% |
| Advances received on contracts in progress | 46 | €179,109 | €200,296 | +€21,187 | +11.8% |
| Taxes, remuneration and social security | 45 | €22,014 | €67,795 | +€45,780 | +208% |
| Taxes | 450/3 | €3,373 | €39,802 | +€36,429 | +1,080% |
| Remuneration and social security | 454/9 | €18,642 | €27,993 | +€9,351 | +50.2% |
| Other amounts payable | 47/48 | €150,000 | €130,000 | -€20,000 | -13.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €21,795 | €0 | -€21,795 | -100% |
| Remuneration, social security and pensions | 62 | €280,182 | €316,861 | +€36,679 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,297 | €78,528 | +€24,230 | +44.6% |
| Other operating charges | 640/8 | €1,205 | €2,118 | +€914 | +75.8% |
| Non-recurring operating charges | 66A | €4,115 | €0 | -€4,115 | -100% |
| Gross operating margin | 9900 | €613,374 | €647,151 | +€33,777 | +5.5% |
| Operating profit (loss) | 9901 | €273,575 | €249,644 | -€23,931 | -8.7% |
| Financial income | 75/76B | €5,302 | €5,390 | +€88 | +1.7% |
| Recurring financial income | 75 | €5,302 | €5,390 | +€88 | +1.7% |
| Financial charges | 65/66B | €7,768 | €10,980 | +€3,212 | +41.4% |
| Recurring financial charges | 65 | €7,768 | €10,980 | +€3,212 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €271,110 | €244,055 | -€27,055 | -10.0% |
| Income taxes | 67/77 | €62,268 | €59,840 | -€2,428 | -3.9% |
| Profit (loss) for the period | 9904 | €208,842 | €184,215 | -€24,627 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €208,842 | €184,215 | -€24,627 | -11.8% |
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 25 October 2026 via checked.be.