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SOFT4DOC: what changed

BE 0686.801.570NACE 62.100, Computer programmingOther company

Position among the sector peers

What moved between 2024 and 2025

Net result for the year
€22,781
2024 · €19,112+€3,669
Equity
€2,123
2024 · -€20,658+€22,781
Cash
€24,976
2024 · €10,867+€14,109
Balance sheet total
€251,310
2024 · €203,715+€47,595

Largest movements

2024 to 2025
Assets
  • Receivables within one year +€42,137

    up €42,137 (+52.5%), from €80,310 to €122,447

    of which Trade receivables: +€40,000

  • Cash +€14,109

    up €14,109 (+130%), from €10,867 to €24,976

    mainly Net result for the year (+€22,781) and Accrued charges and deferred income (+€17,250)

  • Intangible fixed assets -€6,250

    down €6,250 (-6.3%), from €100,000 to €93,750

  • Tangible fixed assets -€3,062

    down €3,062 (-28.5%), from €10,745 to €7,683

    of which Furniture and vehicles: -€2,501

Equity and liabilities
  • Profit (loss) carried forward +€22,781

    up €22,781 (+58.0%), from -€39,258 to -€16,477

  • Accrued charges and deferred income +€17,250

    new in 2025: €17,250

  • Current portion of long-term debt -€14,140

    no longer reported in 2025 (was €14,140)

  • Other debts +€14,066

    up €14,066 (+7.1%), from €198,318 to €212,385

  • Tax, wage and social debts +€9,268

    up €9,268 (+90.1%), from €10,285 to €19,552

Income statement
  • Gross operating margin +€7,422

    up €7,422 (+18.7%), from €39,751 to €47,173

  • Taxes +€3,085

    up €3,085 (+86.0%), from €3,586 to €6,671

  • Financial charges +€1,316

    up €1,316 (+44.6%), from €2,953 to €4,269

  • Depreciation -€959

    down €959 (-6.1%), from €15,776 to €14,816

Change in the result, 2024 to 2025

effect on the result

For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.

Result 2024 €19,112
Gross operating margin +€7,422
Depreciation +€959
Other operating charges +€141
Financial income -€453
Financial charges -€1,316
Taxes -€3,085
Result 2025 €22,781
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.

From operations +€33,753
Investment -€5,504
Financing -€14,140
Cash 2024 €10,867
Net result for the year +€22,781
Depreciation +€14,816
Receivables within one year -€42,137
Deferred charges and accrued income -€661
Trade debts -€1,631
Tax, wage and social debts +€9,268
Other debts +€14,066
Accrued charges and deferred income +€17,250
Investment in fixed assets (net) -€5,504
Current portion of long-term debt -€14,140
Cash 2025 €24,976
brings cash intakes cash out
Every line side by side 38 lines
Line Code 2024 2025 Change %
Total assets 20/58 €203,715 €251,310 +€47,595 +23.4%
Fixed assets 21/28 €110,745 €101,433 -€9,312 -8.4%
Intangible fixed assets 21 €100,000 €93,750 -€6,250 -6.3%
Tangible fixed assets 22/27 €10,745 €7,683 -€3,062 -28.5%
Plant, machinery and equipment 23 €274 - -€274
Furniture and vehicles 24 €8,893 €6,391 -€2,501 -28.1%
Other tangible fixed assets 26 €1,578 €1,291 -€287 -18.2%
Current assets 29/58 €92,970 €149,877 +€56,907 +61.2%
Amounts receivable within one year 40/41 €80,310 €122,447 +€42,137 +52.5%
Trade receivables 40 €50,000 €90,000 +€40,000 +80.0%
Other amounts receivable 41 €30,310 €32,447 +€2,137 +7.1%
Cash at bank and in hand 54/58 €10,867 €24,976 +€14,109 +130%
Deferred charges and accrued income 490/1 €1,794 €2,455 +€661 +36.9%
Total equity and liabilities 10/49 €203,715 €251,310 +€47,595 +23.4%
Equity 10/15 -€20,658 €2,123 +€22,781
Contributions 10/11 €18,600 €18,600 = 0.0%
Profit (loss) carried forward 14 -€39,258 -€16,477 +€22,781 +58.0%
Amounts payable 17/49 €224,374 €249,187 +€24,814 +11.1%
Amounts payable within one year 42/48 €224,374 €231,937 +€7,564 +3.4%
Current portion of amounts payable after more than one year 42 €14,140 - -€14,140
Trade debts 44 €1,631 - -€1,631
Suppliers 440/4 €1,631 - -€1,631
Taxes, remuneration and social security 45 €10,285 €19,552 +€9,268 +90.1%
Taxes 450/3 €10,285 €19,552 +€9,268 +90.1%
Other amounts payable 47/48 €198,318 €212,385 +€14,066 +7.1%
Accrued charges and deferred income 492/3 - €17,250 +€17,250
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €15,776 €14,816 -€959 -6.1%
Other operating charges 640/8 €461 €321 -€141 -30.5%
Gross operating margin 9900 €39,751 €47,173 +€7,422 +18.7%
Operating profit (loss) 9901 €23,514 €32,036 +€8,522 +36.2%
Financial income 75/76B €2,138 €1,685 -€453 -21.2%
Recurring financial income 75 €2,138 €1,685 -€453 -21.2%
Financial charges 65/66B €2,953 €4,269 +€1,316 +44.6%
Recurring financial charges 65 €2,953 €4,269 +€1,316 +44.6%
Profit (loss) for the period before taxes 9903 €22,698 €29,452 +€6,754 +29.8%
Income taxes 67/77 €3,586 €6,671 +€3,085 +86.0%
Profit (loss) for the period 9904 €19,112 €22,781 +€3,669 +19.2%
Profit (loss) for the period to be appropriated 9905 €19,112 €22,781 +€3,669 +19.2%

Value

latest balance sheet 31-12-2025 · indication, not a valuation or advice

Indicative value of the equity

Indication, not a valuation or advice

Capitalisation rate 12% result over 3 years earnings weight 50%

The filed figures and these assumptions give no positive value. The adjusted equity and the average result are both zero or negative.

Part of the calculation comes out below zero. A shareholding is never worth less than zero, so the floor is zero.

Adjusted equity -€91,627
Capitalised earnings €59,343 to €83,080

Adjusted equity

balance sheet 31-12-2025
Equity (10/15)
€2,123
Intangible fixed assets (21)
-€93,750
Revaluation of assets
€0
Deferred tax on the revaluation
€0
Other adjustment
€0
Adjusted equity
-€91,627

Capitalised earnings

net result for the year (9904)
2025
€22,781
2024
€19,112
2023
-€16,971
2022
-€24,704
2021
-€7,901
Average result
€8,308
Divided by the capitalisation rate
14% / 12% / 10%
Capitalised earnings
€59,343 / €69,233 / €83,080

Limits of the indication

  • Checked holds no market prices or comparable transactions.
  • Anything after the latest accounts and items off the balance sheet (guarantees, leases, disputes) are left out.
  • Checked does not know the real value of buildings, stock and receivables. Enter your own revaluation or adjustment for it.
  • The owner's role in the business, synergies for a buyer and the tax consequences of a sale are left out.

For a valuation to base a decision on, go to a company auditor or a certified accountant.

Calculation and sources

Source: filed annual accounts (NBB) and main activity (KBO). The movements compare the financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 9 November 2026 via checked.be.