SOHAIR: 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.
SOHAIR
Largest movements
- Cash -€27,969
down €27,969 (-11.8%), from €237,294 to €209,325
mainly Other debts (-€74,431) and Debts after one year (-€70,422)
- Tangible fixed assets -€25,030
down €25,030 (-8.7%), from €287,958 to €262,928
of which Plant, machinery and equipment: -€12,942
- Receivables within one year -€8,672
down €8,672 (-27.6%), from €31,456 to €22,784
of which Other amounts receivable: -€13,404
- Reserves +€115,000
up €115,000 (+41.2%), from €279,000 to €394,000
- Other debts -€74,431
down €74,431 (-51.3%), from €144,995 to €70,564
- Debts after one year -€70,422
down €70,422 (-31.8%), from €221,489 to €151,068
- Trade debts -€17,913
down €17,913 (-63.0%), from €28,413 to €10,500
- Tax, wage and social debts -€14,731
down €14,731 (-40.0%), from €36,823 to €22,092
of which Taxes: -€16,003
- Gross operating margin +€43,173
up €43,173 (+17.8%), from €242,992 to €286,165
- Depreciation -€31,563
down €31,563 (-51.9%), from €60,799 to €29,236
- Taxes +€26,293
up €26,293 (+105%), from €25,076 to €51,369
- Write-downs +€8,939
new in 2025: €8,939
- Staff costs -€5,072
down €5,072 (-6.9%), from €73,186 to €68,114
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 | €850,321 | €795,112 | -€55,209 | -6.5% |
| Fixed assets | 21/28 | €288,008 | €262,978 | -€25,030 | -8.7% |
| Tangible fixed assets | 22/27 | €287,958 | €262,928 | -€25,030 | -8.7% |
| Land and buildings | 22 | €244,466 | €232,194 | -€12,272 | -5.0% |
| Plant, machinery and equipment | 23 | €41,235 | €28,294 | -€12,942 | -31.4% |
| Furniture and vehicles | 24 | €2,256 | €2,440 | +€184 | +8.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €562,313 | €532,135 | -€30,179 | -5.4% |
| Stocks and contracts in progress | 3 | €293,563 | €300,026 | +€6,463 | +2.2% |
| Stocks | 30/36 | €293,563 | €300,026 | +€6,463 | +2.2% |
| Amounts receivable within one year | 40/41 | €31,456 | €22,784 | -€8,672 | -27.6% |
| Trade receivables | 40 | €8,499 | €13,231 | +€4,732 | +55.7% |
| Other amounts receivable | 41 | €22,957 | €9,553 | -€13,404 | -58.4% |
| Cash at bank and in hand | 54/58 | €237,294 | €209,325 | -€27,969 | -11.8% |
| Total equity and liabilities | 10/49 | €850,321 | €795,112 | -€55,209 | -6.5% |
| Equity | 10/15 | €354,276 | €470,467 | +€116,191 | +32.8% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Reserves | 13 | €279,000 | €394,000 | +€115,000 | +41.2% |
| Distributable reserves | 133 | €279,000 | €394,000 | +€115,000 | +41.2% |
| Profit (loss) carried forward | 14 | €31,276 | €32,467 | +€1,191 | +3.8% |
| Amounts payable | 17/49 | €496,045 | €324,646 | -€171,399 | -34.6% |
| Amounts payable after more than one year | 17 | €221,489 | €151,068 | -€70,422 | -31.8% |
| Financial debts | 170/4 | €221,489 | €151,068 | -€70,422 | -31.8% |
| Amounts payable within one year | 42/48 | €274,556 | €173,578 | -€100,978 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €64,325 | €70,422 | +€6,096 | +9.5% |
| Trade debts | 44 | €28,413 | €10,500 | -€17,913 | -63.0% |
| Suppliers | 440/4 | €28,413 | €10,500 | -€17,913 | -63.0% |
| Taxes, remuneration and social security | 45 | €36,823 | €22,092 | -€14,731 | -40.0% |
| Taxes | 450/3 | €19,303 | €3,300 | -€16,003 | -82.9% |
| Remuneration and social security | 454/9 | €17,520 | €18,792 | +€1,272 | +7.3% |
| Other amounts payable | 47/48 | €144,995 | €70,564 | -€74,431 | -51.3% |
| Remuneration, social security and pensions | 62 | €73,186 | €68,114 | -€5,072 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,799 | €29,236 | -€31,563 | -51.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,939 | +€8,939 | |
| Other operating charges | 640/8 | €9,080 | €9,405 | +€325 | +3.6% |
| Gross operating margin | 9900 | €242,992 | €286,165 | +€43,173 | +17.8% |
| Operating profit (loss) | 9901 | €99,927 | €170,471 | +€70,544 | +70.6% |
| Financial income | 75/76B | €5,472 | €9,147 | +€3,674 | +67.1% |
| Recurring financial income | 75 | €5,472 | €9,147 | +€3,674 | +67.1% |
| Financial charges | 65/66B | €14,868 | €12,058 | -€2,810 | -18.9% |
| Recurring financial charges | 65 | €14,868 | €12,058 | -€2,810 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €90,532 | €167,560 | +€77,028 | +85.1% |
| Income taxes | 67/77 | €25,076 | €51,369 | +€26,293 | +105% |
| Profit (loss) for the period | 9904 | €65,456 | €116,191 | +€50,735 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,456 | €116,191 | +€50,735 | +77.5% |
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 31 October 2026 via checked.be.