Solarman: 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.
What changed
Solarman
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€187,601
2024 · €235,968-€48,367
Equity
€1.1m
2024 · €1.1m+€37,601
Cash
€29,853
2024 · €15,258+€14,595
Balance sheet total
€2.4m
2024 · €2.3m+€33,809
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€37,000
up €37,000 (+4.6%), from €797,000 to €834,000
Income statement
- Gross operating margin -€56,932
down €56,932 (-20.2%), from €281,165 to €224,232
- Taxes -€16,112
down €16,112 (-56.2%), from €28,672 to €12,560
- Financial income -€2,955
down €2,955 (-100%), from €2,955 to €0
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.
Result 2024
€235,968
Gross operating margin
-€56,932
Other operating charges
-€2,227
Financial income
-€2,955
Financial charges
-€2,365
Taxes
+€16,112
Result 2025
€187,601
raises the resultlowers the result
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.
From operations
+€175,526
Investment
€0
Financing
-€160,931
Cash 2024
€15,258
From operations (derived)
+€175,526
Net result for the year
+€187,601
Receivables within one year
-€19,060
Deferred charges and accrued income
-€154
Trade debts
+€14,563
Tax, wage and social debts
-€3,960
Other debts
-€5,066
Accrued charges and deferred income
+€1,603
Financing
-€160,931
Debts after one year
+€1,665
Current portion of long-term debt
-€5,102
Short-term financial debts
-€7,495
Contributions, distributions and other
-€150,000
Cash 2025
€29,853
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,318,768 | €2,352,578 | +€33,809 | +1.5% |
| Fixed assets | 21/28 | €2,100,000 | €2,100,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,100,000 | €2,100,000 | = | 0.0% |
| Current assets | 29/58 | €218,768 | €252,578 | +€33,809 | +15.5% |
| Amounts receivable within one year | 40/41 | €203,510 | €222,570 | +€19,060 | +9.4% |
| Trade receivables | 40 | €170,571 | €183,522 | +€12,951 | +7.6% |
| Other amounts receivable | 41 | €32,939 | €39,048 | +€6,109 | +18.5% |
| Cash at bank and in hand | 54/58 | €15,258 | €29,853 | +€14,595 | +95.7% |
| Deferred charges and accrued income | 490/1 | - | €154 | +€154 | |
| Total equity and liabilities | 10/49 | €2,318,768 | €2,352,578 | +€33,809 | +1.5% |
| Equity | 10/15 | €1,105,257 | €1,142,858 | +€37,601 | +3.4% |
| Contributions | 10/11 | €308,000 | €308,000 | = | 0.0% |
| Reserves | 13 | €797,000 | €834,000 | +€37,000 | +4.6% |
| Distributable reserves | 133 | €797,000 | €834,000 | +€37,000 | +4.6% |
| Profit (loss) carried forward | 14 | €257 | €858 | +€601 | +234% |
| Amounts payable | 17/49 | €1,213,511 | €1,209,720 | -€3,791 | -0.3% |
| Amounts payable after more than one year | 17 | €735,773 | €737,438 | +€1,665 | +0.2% |
| Financial debts | 170/4 | €735,773 | €737,438 | +€1,665 | +0.2% |
| Amounts payable within one year | 42/48 | €467,442 | €460,382 | -€7,060 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €210,936 | €205,834 | -€5,102 | -2.4% |
| Financial debts | 43 | €17,649 | €10,154 | -€7,495 | -42.5% |
| Credit institutions | 430/8 | €17,649 | €10,154 | -€7,495 | -42.5% |
| Trade debts | 44 | €79,830 | €94,393 | +€14,563 | +18.2% |
| Suppliers | 440/4 | €79,830 | €94,393 | +€14,563 | +18.2% |
| Taxes, remuneration and social security | 45 | €3,960 | - | -€3,960 | |
| Taxes | 450/3 | €3,960 | - | -€3,960 | |
| Other amounts payable | 47/48 | €155,066 | €150,000 | -€5,066 | -3.3% |
| Accrued charges and deferred income | 492/3 | €10,297 | €11,900 | +€1,603 | +15.6% |
| Other operating charges | 640/8 | €147 | €2,373 | +€2,227 | +1,519% |
| Gross operating margin | 9900 | €281,165 | €224,232 | -€56,932 | -20.2% |
| Operating profit (loss) | 9901 | €281,018 | €221,859 | -€59,159 | -21.1% |
| Financial income | 75/76B | €2,955 | €0 | -€2,955 | -100% |
| Recurring financial income | 75 | €2,955 | €0 | -€2,955 | -100% |
| Financial charges | 65/66B | €19,334 | €21,699 | +€2,365 | +12.2% |
| Recurring financial charges | 65 | €19,334 | €21,699 | +€2,365 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €264,639 | €200,160 | -€64,479 | -24.4% |
| Income taxes | 67/77 | €28,672 | €12,560 | -€16,112 | -56.2% |
| Profit (loss) for the period | 9904 | €235,968 | €187,601 | -€48,367 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €235,968 | €187,601 | -€48,367 | -20.5% |
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 17 October 2026 via checked.be.