SOKRATES: 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.
SOKRATES
Largest movements
- Stocks and contracts +€1.4m
up €1.4m (+30.5%), from €4.6m to €5.9m
- Cash +€251,099
up €251,099 (+393%), from €63,936 to €315,035
mainly Short-term financial debts (+€1.9m) and Trade debts (+€264,081)
- Short-term financial debts +€1.9m
up €1.9m (+92.3%), from €2.1m to €4.1m
- Profit (loss) carried forward -€359,429
down €359,429 (-211%), from -€170,118 to -€529,548
- Debts after one year -€312,595
down €312,595 (-21.8%), from €1.4m to €1.1m
- Trade debts +€264,081
up €264,081 (+128%), from €206,442 to €470,524
- Other debts +€65,450
up €65,450 (+33.5%), from €195,659 to €261,109
- Financial charges +€184,047
up €184,047 (+610%), from €30,189 to €214,235
- Gross operating margin -€126,706
down €126,706, from €14,074 to -€112,632
- Other operating charges +€26,351
up €26,351 (+2,251%), from €1,171 to €27,522
- Financial income +€5,903
up €5,903 (+123,492%), from €5 to €5,908
- Depreciation -€2,835
down €2,835 (-20.8%), from €13,612 to €10,777
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 | €4,759,410 | €6,340,458 | +€1.6m | +33.2% |
| Formation expenses | 20 | €4,645 | - | -€4,645 | |
| Fixed assets | 21/28 | €36,862 | €30,730 | -€6,132 | -16.6% |
| Intangible fixed assets | 21 | €2,064 | €633 | -€1,430 | -69.3% |
| Tangible fixed assets | 22/27 | €34,799 | €30,097 | -€4,702 | -13.5% |
| Plant, machinery and equipment | 23 | €50 | - | -€50 | |
| Furniture and vehicles | 24 | €17,457 | €15,016 | -€2,440 | -14.0% |
| Other tangible fixed assets | 26 | €17,291 | €15,081 | -€2,211 | -12.8% |
| Current assets | 29/58 | €4,717,903 | €6,309,728 | +€1.6m | +33.7% |
| Stocks and contracts in progress | 3 | €4,552,100 | €5,939,727 | +€1.4m | +30.5% |
| Stocks | 30/36 | €4,552,100 | €5,939,727 | +€1.4m | +30.5% |
| Amounts receivable within one year | 40/41 | €101,867 | €54,966 | -€46,901 | -46.0% |
| Trade receivables | 40 | €101,867 | €54,966 | -€46,901 | -46.0% |
| Cash at bank and in hand | 54/58 | €63,936 | €315,035 | +€251,099 | +393% |
| Total equity and liabilities | 10/49 | €4,759,410 | €6,340,458 | +€1.6m | +33.2% |
| Equity | 10/15 | €760,149 | €400,720 | -€359,429 | -47.3% |
| Contributions | 10/11 | €906,200 | €906,200 | = | 0.0% |
| Reserves | 13 | €24,067 | €24,067 | = | 0.0% |
| Distributable reserves | 133 | €24,067 | €24,067 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,118 | -€529,548 | -€359,429 | -211% |
| Amounts payable | 17/49 | €3,999,261 | €5,939,739 | +€1.9m | +48.5% |
| Amounts payable after more than one year | 17 | €1,434,526 | €1,121,931 | -€312,595 | -21.8% |
| Financial debts | 170/4 | €1,434,526 | €1,121,931 | -€312,595 | -21.8% |
| Amounts payable within one year | 42/48 | €2,564,648 | €4,817,808 | +€2.3m | +87.9% |
| Financial debts | 43 | €2,106,659 | €4,050,460 | +€1.9m | +92.3% |
| Credit institutions | 430/8 | €2,106,659 | €4,050,460 | +€1.9m | +92.3% |
| Trade debts | 44 | €206,442 | €470,524 | +€264,081 | +128% |
| Suppliers | 440/4 | €206,442 | €470,524 | +€264,081 | +128% |
| Advances received on contracts in progress | 46 | €15,670 | - | -€15,670 | |
| Taxes, remuneration and social security | 45 | €40,219 | €35,716 | -€4,503 | -11.2% |
| Taxes | 450/3 | €40,219 | €35,716 | -€4,503 | -11.2% |
| Other amounts payable | 47/48 | €195,659 | €261,109 | +€65,450 | +33.5% |
| Accrued charges and deferred income | 492/3 | €87 | - | -€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,612 | €10,777 | -€2,835 | -20.8% |
| Other operating charges | 640/8 | €1,171 | €27,522 | +€26,351 | +2,251% |
| Gross operating margin | 9900 | €14,074 | -€112,632 | -€126,706 | |
| Operating profit (loss) | 9901 | -€708 | -€150,931 | -€150,223 | -21,218% |
| Financial income | 75/76B | €5 | €5,908 | +€5,903 | +123,492% |
| Recurring financial income | 75 | €5 | €5,908 | +€5,903 | +123,492% |
| Financial charges | 65/66B | €30,189 | €214,235 | +€184,047 | +610% |
| Recurring financial charges | 65 | €30,189 | €214,235 | +€184,047 | +610% |
| Profit (loss) for the period before taxes | 9903 | -€30,892 | -€359,259 | -€328,367 | -1,063% |
| Income taxes | 67/77 | €1 | €171 | +€169 | +11,847% |
| Profit (loss) for the period | 9904 | -€30,893 | -€359,429 | -€328,536 | -1,063% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,893 | -€359,429 | -€328,536 | -1,063% |
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 15 October 2026 via checked.be.