SOJA: what changed
Two fiscal 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.
SOJA
Largest movements
- Financial fixed assets +€5.0m
up €5.0m (+173.5%), from €2.9m to €7.9m
- Receivables within one year +€2.1m
up €2.1m (+5930.8%), from €35,121 to €2.1m
of which Other amounts receivable: +€2.0m
- Tangible fixed assets +€622,117
up €622,117 (+104949.1%), from €593 to €622,710
of which Land and buildings: +€622,710
- Debts after one year +€7.0m
up €7.0m (+766.1%), from €907,435 to €7.9m
- Other debts +€500,000
new in 2025: €500,000
- Profit (loss) carried forward +€114,416
up €114,416 (+80.9%), from €141,423 to €255,839
- Financial income +€106,200
new in 2025: €106,200
- Depreciation +€84,303
up €84,303 (+7286.1%), from €1,157 to €85,460
- Financial charges +€30,745
up €30,745 (+41.6%), from €73,910 to €104,656
- Gross operating margin -€23,274
down €23,274 (-8.8%), from €264,781 to €241,507
- Taxes -€17,362
down €17,362 (-29.2%), from €59,440 to €42,078
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.
Cash bridge derived
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 | €2,914,725 | €10,610,562 | +€7.7m | +264.0% |
| Fixed assets | 21/28 | €2,875,593 | €8,485,212 | +€5.6m | +195.1% |
| Tangible fixed assets | 22/27 | €593 | €622,710 | +€622,117 | +104949.1% |
| Land and buildings | 22 | - | €622,710 | +€622,710 | |
| Furniture and vehicles | 24 | €593 | - | -€593 | |
| Financial fixed assets | 28 | €2,875,000 | €7,862,502 | +€5.0m | +173.5% |
| Current assets | 29/58 | €39,132 | €2,125,350 | +€2.1m | +5331.2% |
| Amounts receivable within one year | 40/41 | €35,121 | €2,118,052 | +€2.1m | +5930.8% |
| Trade receivables | 40 | - | €86,200 | +€86,200 | |
| Other amounts receivable | 41 | €35,121 | €2,031,852 | +€2.0m | +5685.4% |
| Cash at bank and in hand | 54/58 | €964 | €4,249 | +€3,285 | +340.8% |
| Deferred charges and accrued income | 490/1 | €3,048 | €3,050 | +€2 | +0.1% |
| Total equity and liabilities | 10/49 | €2,914,725 | €10,610,562 | +€7.7m | +264.0% |
| Equity | 10/15 | €1,776,073 | €1,888,535 | +€112,462 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,616,050 | €1,614,096 | -€1,954 | -0.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €171,111 | €171,017 | -€94 | -0.1% |
| Distributable reserves | 133 | €1,443,079 | €1,443,079 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,423 | €255,839 | +€114,416 | +80.9% |
| Provisions and deferred taxes | 16 | €57,037 | €57,006 | -€31 | -0.1% |
| Deferred taxes | 168 | €57,037 | €57,006 | -€31 | -0.1% |
| Amounts payable | 17/49 | €1,081,615 | €8,665,021 | +€7.6m | +701.1% |
| Amounts payable after more than one year | 17 | €907,435 | €7,859,441 | +€7.0m | +766.1% |
| Financial debts | 170/4 | €907,435 | €7,859,441 | +€7.0m | +766.1% |
| Amounts payable within one year | 42/48 | €174,180 | €805,581 | +€631,401 | +362.5% |
| Current portion of amounts payable after more than one year | 42 | €109,095 | €104,537 | -€4,558 | -4.2% |
| Financial debts | 43 | €20,344 | €100,000 | +€79,656 | +391.5% |
| Credit institutions | 430/8 | €20,344 | €100,000 | +€79,656 | +391.5% |
| Trade debts | 44 | €23,753 | €59,378 | +€35,625 | +150.0% |
| Suppliers | 440/4 | €23,753 | €59,378 | +€35,625 | +150.0% |
| Taxes, remuneration and social security | 45 | €20,988 | €41,665 | +€20,677 | +98.5% |
| Taxes | 450/3 | €20,988 | €41,665 | +€20,677 | +98.5% |
| Other amounts payable | 47/48 | - | €500,000 | +€500,000 | |
| Non-recurring operating income | 76A | €7,453 | - | -€7,453 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,157 | €85,460 | +€84,303 | +7286.1% |
| Other operating charges | 640/8 | €1,447 | €2,250 | +€802 | +55.5% |
| Gross operating margin | 9900 | €264,781 | €241,507 | -€23,274 | -8.8% |
| Operating profit (loss) | 9901 | €262,177 | €153,798 | -€108,379 | -41.3% |
| Financial income | 75/76B | - | €106,200 | +€106,200 | |
| Recurring financial income | 75 | - | €106,200 | +€106,200 | |
| Financial charges | 65/66B | €73,910 | €104,656 | +€30,745 | +41.6% |
| Recurring financial charges | 65 | €73,910 | €104,656 | +€30,745 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | €188,267 | €155,342 | -€32,924 | -17.5% |
| Transfer from deferred taxes | 780 | - | €31 | +€31 | |
| Income taxes | 67/77 | €59,440 | €42,078 | -€17,362 | -29.2% |
| Profit (loss) for the period | 9904 | €128,827 | €113,295 | -€15,531 | -12.1% |
| Transfer from tax-exempt reserves | 789 | - | €94 | +€94 | |
| Profit (loss) for the period to be appropriated | 9905 | €128,827 | €113,389 | -€15,438 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.