Solarpulse VIII: 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.
Solarpulse VIII
Largest movements
- Tangible fixed assets -€201,304
down €201,304 (-13.6%), from €1.5m to €1.3m
- Cash +€23,090
up €23,090 (+8.5%), from €270,873 to €293,963
mainly Depreciation (+€201,304) and Net result for the year (+€135,585)
- Debts after one year -€282,233
down €282,233 (-49.1%), from €574,745 to €292,512
- Profit (loss) carried forward +€35,585
up €35,585 (+8.3%), from €431,274 to €466,859
- Other debts +€35,000
up €35,000 (+53.8%), from €65,000 to €100,000
- Gross operating margin +€23,899
up €23,899 (+6.0%), from €398,004 to €421,904
- Financial charges -€18,303
down €18,303 (-31.7%), from €57,795 to €39,493
- Taxes +€10,690
up €10,690 (+30.6%), from €34,904 to €45,594
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 | €1,799,281 | €1,616,639 | -€182,642 | -10.2% |
| Fixed assets | 21/28 | €1,485,256 | €1,283,952 | -€201,304 | -13.6% |
| Tangible fixed assets | 22/27 | €1,485,256 | €1,283,952 | -€201,304 | -13.6% |
| Plant, machinery and equipment | 23 | €1,485,256 | €1,283,952 | -€201,304 | -13.6% |
| Current assets | 29/58 | €314,024 | €332,686 | +€18,662 | +5.9% |
| Amounts receivable within one year | 40/41 | €30,829 | €26,401 | -€4,428 | -14.4% |
| Trade receivables | 40 | €16,955 | €21,029 | +€4,074 | +24.0% |
| Other amounts receivable | 41 | €13,873 | €5,372 | -€8,502 | -61.3% |
| Cash at bank and in hand | 54/58 | €270,873 | €293,963 | +€23,090 | +8.5% |
| Deferred charges and accrued income | 490/1 | €12,322 | €12,322 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,799,281 | €1,616,639 | -€182,642 | -10.2% |
| Equity | 10/15 | €848,724 | €884,309 | +€35,585 | +4.2% |
| Contributions | 10/11 | €379,500 | €379,500 | = | 0.0% |
| Capital | 10 | €379,500 | €379,500 | = | 0.0% |
| Issued capital | 100 | €379,500 | €379,500 | = | 0.0% |
| Reserves | 13 | €37,950 | €37,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,950 | €37,950 | = | 0.0% |
| Legal reserve | 130 | €37,950 | €37,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €431,274 | €466,859 | +€35,585 | +8.3% |
| Amounts payable | 17/49 | €950,557 | €732,330 | -€218,227 | -23.0% |
| Amounts payable after more than one year | 17 | €574,745 | €292,512 | -€282,233 | -49.1% |
| Financial debts | 170/4 | €574,745 | €292,512 | -€282,233 | -49.1% |
| Amounts payable within one year | 42/48 | €356,169 | €414,478 | +€58,309 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €268,051 | €282,233 | +€14,181 | +5.3% |
| Trade debts | 44 | €16,123 | €19,662 | +€3,539 | +22.0% |
| Suppliers | 440/4 | €16,123 | €19,662 | +€3,539 | +22.0% |
| Taxes, remuneration and social security | 45 | €6,994 | €12,583 | +€5,588 | +79.9% |
| Taxes | 450/3 | €6,994 | €12,583 | +€5,588 | +79.9% |
| Other amounts payable | 47/48 | €65,000 | €100,000 | +€35,000 | +53.8% |
| Accrued charges and deferred income | 492/3 | €19,644 | €25,340 | +€5,697 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,304 | €201,304 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €208 | €210 | +€2 | +1.0% |
| Gross operating margin | 9900 | €398,004 | €421,904 | +€23,899 | +6.0% |
| Operating profit (loss) | 9901 | €196,492 | €220,390 | +€23,897 | +12.2% |
| Financial income | 75/76B | €918 | €282 | -€637 | -69.3% |
| Recurring financial income | 75 | €918 | €282 | -€637 | -69.3% |
| Financial charges | 65/66B | €57,795 | €39,493 | -€18,303 | -31.7% |
| Recurring financial charges | 65 | €57,795 | €39,493 | -€18,303 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €139,615 | €181,179 | +€41,563 | +29.8% |
| Income taxes | 67/77 | €34,904 | €45,594 | +€10,690 | +30.6% |
| Profit (loss) for the period | 9904 | €104,712 | €135,585 | +€30,873 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €104,712 | €135,585 | +€30,873 | +29.5% |
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 23 October 2026 via checked.be.