SOHEPA: 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.
SOHEPA
Largest movements
- Stocks and contracts +€1.6m
new in 2025: €1.6m
- Cash +€181,564
up €181,564 (+6,477%), from €2,803 to €184,367
mainly Short-term financial debts (+€1.4m) and Current portion of long-term debt (+€269,605)
- Deferred charges and accrued income -€47,500
no longer reported in 2025 (was €47,500)
- Tangible fixed assets +€36,936
up €36,936 (+50.8%), from €72,707 to €109,643
of which Furniture and vehicles: +€40,595
- Short-term financial debts +€1.4m
new in 2025: €1.4m
- Current portion of long-term debt +€269,605
up €269,605 (+3,012%), from €8,950 to €278,555
- Reserves +€80,000
up €80,000 (+178%), from €45,000 to €125,000
- Other debts +€35,343
up €35,343 (+125%), from €28,180 to €63,524
- Debts after one year +€31,445
up €31,445 (+102%), from €30,754 to €62,199
- Gross operating margin +€173,952
up €173,952 (+688%), from €25,285 to €199,237
- Financial charges +€38,718
up €38,718 (+1,432%), from €2,704 to €41,422
- Taxes +€30,141
up €30,141 (+1,941%), from €1,553 to €31,693
- Depreciation +€4,402
up €4,402 (+30.4%), from €14,491 to €18,893
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 | €127,138 | €1,958,863 | +€1.8m | +1,441% |
| Fixed assets | 21/28 | €72,707 | €110,968 | +€38,261 | +52.6% |
| Tangible fixed assets | 22/27 | €72,707 | €109,643 | +€36,936 | +50.8% |
| Furniture and vehicles | 24 | €50,151 | €90,746 | +€40,595 | +80.9% |
| Other tangible fixed assets | 26 | €22,556 | €18,896 | -€3,660 | -16.2% |
| Financial fixed assets | 28 | - | €1,325 | +€1,325 | |
| Current assets | 29/58 | €54,431 | €1,847,896 | +€1.8m | +3,295% |
| Stocks and contracts in progress | 3 | - | €1,643,312 | +€1.6m | |
| Stocks | 30/36 | - | €1,643,312 | +€1.6m | |
| Amounts receivable within one year | 40/41 | €4,128 | €20,217 | +€16,089 | +390% |
| Trade receivables | 40 | €3,620 | €7,417 | +€3,797 | +105% |
| Other amounts receivable | 41 | €508 | €12,800 | +€12,292 | +2,419% |
| Cash at bank and in hand | 54/58 | €2,803 | €184,367 | +€181,564 | +6,477% |
| Deferred charges and accrued income | 490/1 | €47,500 | - | -€47,500 | |
| Total equity and liabilities | 10/49 | €127,138 | €1,958,863 | +€1.8m | +1,441% |
| Equity | 10/15 | €48,874 | €129,188 | +€80,313 | +164% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €45,000 | €125,000 | +€80,000 | +178% |
| Distributable reserves | 133 | €45,000 | €125,000 | +€80,000 | +178% |
| Profit (loss) carried forward | 14 | €1,874 | €2,188 | +€313 | +16.7% |
| Amounts payable | 17/49 | €78,264 | €1,829,676 | +€1.8m | +2,238% |
| Amounts payable after more than one year | 17 | €30,754 | €62,199 | +€31,445 | +102% |
| Financial debts | 170/4 | €30,754 | €62,199 | +€31,445 | +102% |
| Amounts payable within one year | 42/48 | €46,510 | €1,742,576 | +€1.7m | +3,647% |
| Current portion of amounts payable after more than one year | 42 | €8,950 | €278,555 | +€269,605 | +3,012% |
| Financial debts | 43 | - | €1,390,000 | +€1.4m | |
| Credit institutions | 430/8 | - | €1,390,000 | +€1.4m | |
| Trade debts | 44 | €3,105 | €1,960 | -€1,145 | -36.9% |
| Suppliers | 440/4 | €3,105 | €1,960 | -€1,145 | -36.9% |
| Taxes, remuneration and social security | 45 | €6,275 | €8,537 | +€2,262 | +36.0% |
| Taxes | 450/3 | €6,275 | €8,537 | +€2,262 | +36.0% |
| Other amounts payable | 47/48 | €28,180 | €63,524 | +€35,343 | +125% |
| Accrued charges and deferred income | 492/3 | €1,000 | €24,901 | +€23,901 | +2,390% |
| Non-recurring operating income | 76A | €10,616 | - | -€10,616 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,491 | €18,893 | +€4,402 | +30.4% |
| Other operating charges | 640/8 | €982 | €1,915 | +€933 | +95.0% |
| Gross operating margin | 9900 | €25,285 | €199,237 | +€173,952 | +688% |
| Operating profit (loss) | 9901 | €9,812 | €178,429 | +€168,617 | +1,719% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,704 | €41,422 | +€38,718 | +1,432% |
| Recurring financial charges | 65 | €2,704 | €41,422 | +€38,718 | +1,432% |
| Profit (loss) for the period before taxes | 9903 | €7,109 | €137,007 | +€129,898 | +1,827% |
| Income taxes | 67/77 | €1,553 | €31,693 | +€30,141 | +1,941% |
| Profit (loss) for the period | 9904 | €5,556 | €105,313 | +€99,758 | +1,796% |
| Profit (loss) for the period to be appropriated | 9905 | €5,556 | €105,313 | +€99,758 | +1,796% |
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.