SOLAR TODAY BRUSSELS: 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.
SOLAR TODAY BRUSSELS
Largest movements
- Cash -€118,182
down €118,182 (-65.3%), from €180,884 to €62,702
mainly Trade debts (-€74,428) and Tax, wage and social debts (-€41,544)
- Receivables within one year +€14,303
up €14,303 (+16.7%), from €85,667 to €99,970
of which Trade receivables: +€14,053
- Tangible fixed assets -€4,795
down €4,795 (-42.9%), from €11,169 to €6,374
of which Plant, machinery and equipment: -€3,976
- Trade debts -€74,428
down €74,428 (-37.6%), from €197,731 to €123,304
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Tax, wage and social debts -€41,544
down €41,544 (-97.9%), from €42,441 to €897
- Profit (loss) carried forward -€33,443
down €33,443, from €9,606 to -€23,837
- Advances received -€11,000
no longer reported in 2025 (was €11,000)
- Gross operating margin -€50,597
down €50,597, from €29,333 to -€21,263
- Other operating charges -€23,163
down €23,163 (-91.2%), from €25,387 to €2,224
- Depreciation +€1,593
up €1,593 (+49.7%), from €3,202 to €4,795
- Financial charges +€1,012
up €1,012 (+26.9%), from €3,767 to €4,780
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 | €324,203 | €215,634 | -€108,570 | -33.5% |
| Fixed assets | 21/28 | €12,269 | €7,474 | -€4,795 | -39.1% |
| Tangible fixed assets | 22/27 | €11,169 | €6,374 | -€4,795 | -42.9% |
| Plant, machinery and equipment | 23 | €9,207 | €5,230 | -€3,976 | -43.2% |
| Furniture and vehicles | 24 | €1,963 | €1,144 | -€819 | -41.7% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €311,934 | €208,160 | -€103,774 | -33.3% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Trade receivables | 290 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €85,667 | €99,970 | +€14,303 | +16.7% |
| Trade receivables | 40 | €84,514 | €98,567 | +€14,053 | +16.6% |
| Other amounts receivable | 41 | €1,153 | €1,403 | +€249 | +21.6% |
| Cash at bank and in hand | 54/58 | €180,884 | €62,702 | -€118,182 | -65.3% |
| Deferred charges and accrued income | 490/1 | €5,383 | €5,487 | +€105 | +1.9% |
| Total equity and liabilities | 10/49 | €324,203 | €215,634 | -€108,570 | -33.5% |
| Equity | 10/15 | €71,106 | €37,663 | -€33,443 | -47.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,606 | -€23,837 | -€33,443 | |
| Amounts payable | 17/49 | €253,097 | €177,971 | -€75,126 | -29.7% |
| Amounts payable within one year | 42/48 | €253,097 | €177,971 | -€75,126 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €197,731 | €123,304 | -€74,428 | -37.6% |
| Suppliers | 440/4 | €197,731 | €123,304 | -€74,428 | -37.6% |
| Advances received on contracts in progress | 46 | €11,000 | - | -€11,000 | |
| Taxes, remuneration and social security | 45 | €42,441 | €897 | -€41,544 | -97.9% |
| Taxes | 450/3 | €42,441 | €897 | -€41,544 | -97.9% |
| Other amounts payable | 47/48 | €1,925 | €3,770 | +€1,845 | +95.9% |
| Remuneration, social security and pensions | 62 | €2 | €192 | +€190 | +9,057% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,202 | €4,795 | +€1,593 | +49.7% |
| Other operating charges | 640/8 | €25,387 | €2,224 | -€23,163 | -91.2% |
| Gross operating margin | 9900 | €29,333 | -€21,263 | -€50,597 | |
| Operating profit (loss) | 9901 | €742 | -€28,474 | -€29,216 | |
| Financial income | 75/76B | €50 | €0 | -€50 | -99.6% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -99.6% |
| Financial charges | 65/66B | €3,767 | €4,780 | +€1,012 | +26.9% |
| Recurring financial charges | 65 | €3,767 | €4,780 | +€1,012 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,975 | -€33,254 | -€30,278 | -1,018% |
| Income taxes | 67/77 | €161 | €189 | +€28 | +17.5% |
| Profit (loss) for the period | 9904 | -€3,137 | -€33,443 | -€30,307 | -966% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,137 | -€33,443 | -€30,307 | -966% |
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.