SOLFAY GROUP: 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 GROUP
Largest movements
- Receivables within one year +€729,646
new in 2025: €729,646
- Tangible fixed assets +€203,616
up €203,616 (+17.7%), from €1.2m to €1.4m
of which Assets under construction and advance payments: +€206,546
- Cash +€41,454
up €41,454 (+9,421,270%), from €0 to €41,454
mainly Current portion of long-term debt (+€1.1m) and Debts after one year (+€319,320)
- Financial fixed assets +€40,000
up €40,000 (+800%), from €5,000 to €45,000
- Current portion of long-term debt +€1.1m
new in 2025: €1.1m
- Debts after one year +€319,320
up €319,320 (+29.0%), from €1.1m to €1.4m
of which Other amounts payable: +€1.4m
- Accrued charges and deferred income -€292,950
down €292,950 (-84.3%), from €347,590 to €54,640
- Other debts -€161,663
down €161,663 (-98.5%), from €164,163 to €2,500
- Profit (loss) carried forward +€50,102
up €50,102 (+9.2%), from -€545,012 to -€494,911
- Financial charges -€193,319
down €193,319, from €103,782 to -€89,538
- Gross operating margin -€30,982
down €30,982 (-285%), from -€10,882 to -€41,864
- Financial income +€8,552
new in 2025: €8,552
- Other operating charges +€1,448
up €1,448 (+83.0%), from €1,746 to €3,194
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 | €1,156,274 | €2,170,989 | +€1.0m | +87.8% |
| Fixed assets | 21/28 | €1,156,273 | €1,399,889 | +€243,616 | +21.1% |
| Tangible fixed assets | 22/27 | €1,151,273 | €1,354,889 | +€203,616 | +17.7% |
| Land and buildings | 22 | €48,000 | €46,000 | -€2,000 | -4.2% |
| Plant, machinery and equipment | 23 | €634 | €0 | -€634 | -100% |
| Furniture and vehicles | 24 | €356 | €60 | -€296 | -83.1% |
| Assets under construction and advance payments | 27 | €1,102,283 | €1,308,829 | +€206,546 | +18.7% |
| Financial fixed assets | 28 | €5,000 | €45,000 | +€40,000 | +800% |
| Current assets | 29/58 | €0 | €771,100 | +€771,099 | +175,249,832% |
| Amounts receivable within one year | 40/41 | - | €729,646 | +€729,646 | |
| Other amounts receivable | 41 | - | €729,646 | +€729,646 | |
| Cash at bank and in hand | 54/58 | €0 | €41,454 | +€41,454 | +9,421,270% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,156,274 | €2,170,989 | +€1.0m | +87.8% |
| Equity | 10/15 | -€461,412 | -€411,311 | +€50,102 | +10.9% |
| Contributions | 10/11 | €83,600 | €83,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,012 | -€494,911 | +€50,102 | +9.2% |
| Amounts payable | 17/49 | €1,617,686 | €2,582,299 | +€964,614 | +59.6% |
| Amounts payable after more than one year | 17 | €1,100,000 | €1,419,320 | +€319,320 | +29.0% |
| Financial debts | 170/4 | €1,100,000 | €0 | -€1.1m | -100% |
| Other amounts payable | 178/9 | - | €1,419,320 | +€1.4m | |
| Amounts payable within one year | 42/48 | €170,096 | €1,108,339 | +€938,244 | +552% |
| Current portion of amounts payable after more than one year | 42 | - | €1,100,000 | +€1.1m | |
| Trade debts | 44 | €5,933 | €5,839 | -€94 | -1.6% |
| Suppliers | 440/4 | €5,933 | €5,839 | -€94 | -1.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €164,163 | €2,500 | -€161,663 | -98.5% |
| Accrued charges and deferred income | 492/3 | €347,590 | €54,640 | -€292,950 | -84.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,173 | €2,930 | -€243 | -7.6% |
| Other operating charges | 640/8 | €1,746 | €3,194 | +€1,448 | +83.0% |
| Gross operating margin | 9900 | -€10,882 | -€41,864 | -€30,982 | -285% |
| Operating profit (loss) | 9901 | -€15,800 | -€47,988 | -€32,188 | -204% |
| Financial income | 75/76B | - | €8,552 | +€8,552 | |
| Recurring financial income | 75 | - | €8,552 | +€8,552 | |
| Financial charges | 65/66B | €103,782 | -€89,538 | -€193,319 | |
| Recurring financial charges | 65 | €103,782 | -€89,538 | -€193,319 | |
| Profit (loss) for the period before taxes | 9903 | -€119,582 | €50,102 | +€169,684 | |
| Profit (loss) for the period | 9904 | -€119,582 | €50,102 | +€169,684 | |
| Profit (loss) for the period to be appropriated | 9905 | -€119,582 | €50,102 | +€169,684 |
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 16 October 2026 via checked.be.