Solem Capital: 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.
Solem Capital
Largest movements
- Cash -€298,906
down €298,906 (-88.1%), from €339,327 to €40,421
mainly Contributions, distributions and other (-€600,000) and Receivables within one year (-€293,900)
- Receivables within one year +€293,900
up €293,900 (+251%), from €117,000 to €410,900
of which Other amounts receivable: +€285,900
- Other debts +€600,000
up €600,000, from €0 to €600,000
- Profit (loss) carried forward -€585,939
down €585,939 (-28.1%), from €2.1m to €1.5m
- Financial income -€157,158
down €157,158 (-88.4%), from €177,858 to €20,700
- Gross operating margin -€285
down €285 (-7.3%), from €3,915 to €3,629
- Financial charges -€80
down €80 (-0.9%), from €8,490 to €8,410
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 | €4,133,410 | €4,147,430 | +€14,021 | +0.3% |
| Fixed assets | 21/28 | €3,676,192 | €3,676,192 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3,000 | €3,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Financial fixed assets | 28 | €3,673,192 | €3,673,192 | = | 0.0% |
| Current assets | 29/58 | €457,217 | €471,238 | +€14,021 | +3.1% |
| Amounts receivable within one year | 40/41 | €117,000 | €410,900 | +€293,900 | +251% |
| Trade receivables | 40 | €8,000 | €16,000 | +€8,000 | +100% |
| Other amounts receivable | 41 | €109,000 | €394,900 | +€285,900 | +262% |
| Cash at bank and in hand | 54/58 | €339,327 | €40,421 | -€298,906 | -88.1% |
| Deferred charges and accrued income | 490/1 | €890 | €19,917 | +€19,027 | +2,137% |
| Total equity and liabilities | 10/49 | €4,133,410 | €4,147,430 | +€14,021 | +0.3% |
| Equity | 10/15 | €4,132,442 | €3,547,243 | -€585,199 | -14.2% |
| Contributions | 10/11 | €1,830,000 | €1,830,000 | = | 0.0% |
| Capital | 10 | €1,830,000 | €1,830,000 | = | 0.0% |
| Issued capital | 100 | €1,830,000 | €1,830,000 | = | 0.0% |
| Reserves | 13 | €219,306 | €220,046 | +€740 | +0.3% |
| Non-distributable reserves | 130/1 | €119,306 | €120,046 | +€740 | +0.6% |
| Legal reserve | 130 | €119,306 | €120,046 | +€740 | +0.6% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,083,137 | €1,497,198 | -€585,939 | -28.1% |
| Amounts payable | 17/49 | €968 | €600,187 | +€599,219 | +61,934% |
| Amounts payable within one year | 42/48 | €968 | €600,187 | +€599,219 | +61,934% |
| Trade debts | 44 | €968 | €187 | -€781 | -80.7% |
| Suppliers | 440/4 | €968 | €187 | -€781 | -80.7% |
| Other amounts payable | 47/48 | €0 | €600,000 | +€600,000 | |
| Other operating charges | 640/8 | €1,128 | €1,118 | -€10 | -0.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €3,915 | €3,629 | -€285 | -7.3% |
| Operating profit (loss) | 9901 | €2,786 | €2,511 | -€275 | -9.9% |
| Financial income | 75/76B | €177,858 | €20,700 | -€157,158 | -88.4% |
| Recurring financial income | 75 | €177,858 | €20,700 | -€157,158 | -88.4% |
| Financial charges | 65/66B | €8,490 | €8,410 | -€80 | -0.9% |
| Recurring financial charges | 65 | €8,490 | €8,410 | -€80 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €172,155 | €14,801 | -€157,353 | -91.4% |
| Profit (loss) for the period | 9904 | €172,155 | €14,801 | -€157,353 | -91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €172,155 | €14,801 | -€157,353 | -91.4% |
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 24 October 2026 via checked.be.