SOHO PROJECTS: 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.
SOHO PROJECTS
Largest movements
- Receivables within one year +€486,043
up €486,043 (+124%), from €393,331 to €879,374
of which Trade receivables: +€264,898
- Stocks and contracts +€69,992
up €69,992 (+40.7%), from €171,767 to €241,759
- Trade debts +€1.2m
up €1.2m (+2,223%), from €56,042 to €1.3m
- Debts after one year -€569,999
down €569,999 (-37.0%), from €1.5m to €968,843
of which Financial debts: -€569,999
- Profit (loss) carried forward -€273,096
down €273,096 (-25.5%), from -€1.1m to -€1.3m
- Other debts +€153,359
up €153,359 (+585%), from €26,214 to €179,573
- Financial charges +€49,568
up €49,568 (+104%), from €47,573 to €97,141
- Gross operating margin +€44,573
up €44,573 (+21.9%), from -€203,872 to -€159,299
- Other operating charges +€12,299
up €12,299 (+333%), from €3,688 to €15,987
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 | €568,957 | €1,134,949 | +€565,992 | +99.5% |
| Fixed assets | 21/28 | €1,059 | €388 | -€670 | -63.3% |
| Tangible fixed assets | 22/27 | €1,059 | €388 | -€670 | -63.3% |
| Plant, machinery and equipment | 23 | €1,059 | €388 | -€670 | -63.3% |
| Current assets | 29/58 | €567,898 | €1,134,561 | +€566,662 | +99.8% |
| Stocks and contracts in progress | 3 | €171,767 | €241,759 | +€69,992 | +40.7% |
| Stocks | 30/36 | €171,767 | €241,759 | +€69,992 | +40.7% |
| Amounts receivable within one year | 40/41 | €393,331 | €879,374 | +€486,043 | +124% |
| Trade receivables | 40 | €390,113 | €655,012 | +€264,898 | +67.9% |
| Other amounts receivable | 41 | €3,217 | €224,362 | +€221,145 | +6,873% |
| Cash at bank and in hand | 54/58 | €1,645 | €5,316 | +€3,671 | +223% |
| Deferred charges and accrued income | 490/1 | €1,156 | €8,112 | +€6,956 | +602% |
| Total equity and liabilities | 10/49 | €568,957 | €1,134,949 | +€565,992 | +99.5% |
| Equity | 10/15 | -€1,052,191 | -€1,325,287 | -€273,096 | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,070,791 | -€1,343,887 | -€273,096 | -25.5% |
| Amounts payable | 17/49 | €1,621,149 | €2,460,236 | +€839,087 | +51.8% |
| Amounts payable after more than one year | 17 | €1,538,842 | €968,843 | -€569,999 | -37.0% |
| Financial debts | 170/4 | €1,380,309 | €810,310 | -€569,999 | -41.3% |
| Other amounts payable | 178/9 | €158,533 | €158,533 | = | 0.0% |
| Amounts payable within one year | 42/48 | €82,307 | €1,481,715 | +€1.4m | +1,700% |
| Trade debts | 44 | €56,042 | €1,302,092 | +€1.2m | +2,223% |
| Suppliers | 440/4 | €56,042 | €1,302,092 | +€1.2m | +2,223% |
| Taxes, remuneration and social security | 45 | €50 | €50 | = | 0.0% |
| Taxes | 450/3 | €50 | €50 | = | 0.0% |
| Other amounts payable | 47/48 | €26,214 | €179,573 | +€153,359 | +585% |
| Accrued charges and deferred income | 492/3 | - | €9,678 | +€9,678 | |
| Non-recurring operating income | 76A | €483 | €495 | +€12 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183 | €196 | +€12 | +6.8% |
| Other operating charges | 640/8 | €3,688 | €15,987 | +€12,299 | +333% |
| Non-recurring operating charges | 66A | €16 | €475 | +€459 | +2,890% |
| Gross operating margin | 9900 | -€203,872 | -€159,299 | +€44,573 | +21.9% |
| Operating profit (loss) | 9901 | -€207,760 | -€175,957 | +€31,803 | +15.3% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €47,573 | €97,141 | +€49,568 | +104% |
| Recurring financial charges | 65 | €47,573 | €97,141 | +€49,568 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€255,333 | -€273,096 | -€17,763 | -7.0% |
| Income taxes | 67/77 | €8 | - | -€8 | |
| Profit (loss) for the period | 9904 | -€255,341 | -€273,096 | -€17,755 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€255,341 | -€273,096 | -€17,755 | -7.0% |
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 14 October 2026 via checked.be.