SOLFAY: 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.
SOLFAY
Largest movements
- Tangible fixed assets -€18,511
down €18,511 (-36.4%), from €50,799 to €32,288
of which Plant, machinery and equipment: -€17,010
- Reserves -€32,428
down €32,428 (-43.3%), from €74,913 to €42,485
of which Distributable reserves: -€32,428
- Tax, wage and social debts -€21,683
down €21,683 (-78.7%), from €27,562 to €5,878
- Trade debts +€18,788
up €18,788 (+60.5%), from €31,043 to €49,831
- Other debts +€17,873
up €17,873 (+26.3%), from €67,910 to €85,782
- Gross operating margin -€107,852
down €107,852, from €101,631 to -€6,221
- Taxes -€12,789
down €12,789 (-94.8%), from €13,497 to €708
- Depreciation +€7,327
up €7,327 (+65.5%), from €11,183 to €18,511
- Other operating charges -€3,392
down €3,392 (-89.9%), from €3,772 to €380
- Financial charges -€1,991
down €1,991 (-37.7%), from €5,280 to €3,289
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 | €220,027 | €202,576 | -€17,450 | -7.9% |
| Fixed assets | 21/28 | €75,649 | €57,138 | -€18,511 | -24.5% |
| Tangible fixed assets | 22/27 | €50,799 | €32,288 | -€18,511 | -36.4% |
| Plant, machinery and equipment | 23 | €45,526 | €28,516 | -€17,010 | -37.4% |
| Furniture and vehicles | 24 | €5,273 | €3,772 | -€1,501 | -28.5% |
| Financial fixed assets | 28 | €24,850 | €24,850 | = | 0.0% |
| Current assets | 29/58 | €144,378 | €145,438 | +€1,060 | +0.7% |
| Amounts receivable within one year | 40/41 | €142,433 | €144,176 | +€1,743 | +1.2% |
| Trade receivables | 40 | €26,913 | €16,050 | -€10,863 | -40.4% |
| Other amounts receivable | 41 | €115,520 | €128,126 | +€12,606 | +10.9% |
| Cash at bank and in hand | 54/58 | €1,508 | €1,262 | -€246 | -16.3% |
| Deferred charges and accrued income | 490/1 | €437 | €0 | -€437 | -100% |
| Total equity and liabilities | 10/49 | €220,027 | €202,576 | -€17,450 | -7.9% |
| Equity | 10/15 | €93,513 | €61,085 | -€32,428 | -34.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,913 | €42,485 | -€32,428 | -43.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €73,053 | €40,625 | -€32,428 | -44.4% |
| Amounts payable | 17/49 | €126,514 | €141,492 | +€14,977 | +11.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €126,514 | €141,492 | +€14,977 | +11.8% |
| Trade debts | 44 | €31,043 | €49,831 | +€18,788 | +60.5% |
| Suppliers | 440/4 | €31,043 | €49,831 | +€18,788 | +60.5% |
| Taxes, remuneration and social security | 45 | €27,562 | €5,878 | -€21,683 | -78.7% |
| Taxes | 450/3 | €27,562 | €5,878 | -€21,683 | -78.7% |
| Other amounts payable | 47/48 | €67,910 | €85,782 | +€17,873 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,183 | €18,511 | +€7,327 | +65.5% |
| Other operating charges | 640/8 | €3,772 | €380 | -€3,392 | -89.9% |
| Non-recurring operating charges | 66A | - | €4,170 | +€4,170 | |
| Gross operating margin | 9900 | €101,631 | -€6,221 | -€107,852 | |
| Operating profit (loss) | 9901 | €86,675 | -€29,282 | -€115,957 | |
| Financial income | 75/76B | €0 | €851 | +€851 | |
| Recurring financial income | 75 | €0 | €851 | +€851 | |
| Financial charges | 65/66B | €5,280 | €3,289 | -€1,991 | -37.7% |
| Recurring financial charges | 65 | €5,280 | €3,289 | -€1,991 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €81,395 | -€31,720 | -€113,115 | |
| Income taxes | 67/77 | €13,497 | €708 | -€12,789 | -94.8% |
| Profit (loss) for the period | 9904 | €67,899 | -€32,428 | -€100,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,899 | -€32,428 | -€100,327 |
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 14 October 2026 via checked.be.