SOLHEN: 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.
SOLHEN
Largest movements
- Tangible fixed assets -€35,859
down €35,859 (-3.3%), from €1.1m to €1.0m
of which Land and buildings: -€32,895
- Cash +€25,874
up €25,874 (+247.0%), from €10,476 to €36,350
mainly Net result for the year (+€63,161) and Depreciation (+€43,421)
- Current portion of long-term debt -€78,733
down €78,733 (-93.9%), from €83,882 to €5,149
- Reserves +€55,000
up €55,000 (+48.5%), from €113,500 to €168,500
- Tax, wage and social debts +€21,146
up €21,146 (+166.4%), from €12,707 to €33,853
of which Taxes: +€22,578
- Gross operating margin +€55,315
up €55,315 (+35.2%), from €157,214 to €212,529
- Taxes +€16,412
up €16,412 (+116.7%), from €14,064 to €30,476
- Staff costs +€4,625
up €4,625 (+8.5%), from €54,114 to €58,739
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.
Cash bridge derived
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 | €1,160,470 | €1,153,618 | -€6,851 | -0.6% |
| Fixed assets | 21/28 | €1,074,953 | €1,039,095 | -€35,859 | -3.3% |
| Tangible fixed assets | 22/27 | €1,074,953 | €1,039,095 | -€35,859 | -3.3% |
| Land and buildings | 22 | €1,028,411 | €995,516 | -€32,895 | -3.2% |
| Furniture and vehicles | 24 | €17,704 | €10,565 | -€7,139 | -40.3% |
| Other tangible fixed assets | 26 | €28,839 | €33,014 | +€4,175 | +14.5% |
| Current assets | 29/58 | €85,517 | €114,524 | +€29,007 | +33.9% |
| Stocks and contracts in progress | 3 | €59,191 | €58,954 | -€237 | -0.4% |
| Stocks | 30/36 | €59,191 | €58,954 | -€237 | -0.4% |
| Amounts receivable within one year | 40/41 | €6,344 | €11,818 | +€5,474 | +86.3% |
| Trade receivables | 40 | €4,908 | €10,382 | +€5,474 | +111.5% |
| Other amounts receivable | 41 | €1,436 | €1,436 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,476 | €36,350 | +€25,874 | +247.0% |
| Deferred charges and accrued income | 490/1 | €9,505 | €7,401 | -€2,103 | -22.1% |
| Total equity and liabilities | 10/49 | €1,160,470 | €1,153,618 | -€6,851 | -0.6% |
| Equity | 10/15 | €385,873 | €449,034 | +€63,161 | +16.4% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €113,500 | €168,500 | +€55,000 | +48.5% |
| Distributable reserves | 133 | €113,500 | €168,500 | +€55,000 | +48.5% |
| Profit (loss) carried forward | 14 | €22,373 | €30,534 | +€8,161 | +36.5% |
| Amounts payable | 17/49 | €774,597 | €704,584 | -€70,012 | -9.0% |
| Amounts payable after more than one year | 17 | €361,169 | €356,020 | -€5,149 | -1.4% |
| Financial debts | 170/4 | €361,169 | €356,020 | -€5,149 | -1.4% |
| Amounts payable within one year | 42/48 | €413,428 | €348,565 | -€64,863 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €83,882 | €5,149 | -€78,733 | -93.9% |
| Trade debts | 44 | €18,878 | €8,811 | -€10,067 | -53.3% |
| Suppliers | 440/4 | €18,878 | €8,811 | -€10,067 | -53.3% |
| Taxes, remuneration and social security | 45 | €12,707 | €33,853 | +€21,146 | +166.4% |
| Taxes | 450/3 | €5,944 | €28,523 | +€22,578 | +379.8% |
| Remuneration and social security | 454/9 | €6,763 | €5,330 | -€1,433 | -21.2% |
| Other amounts payable | 47/48 | €297,961 | €300,752 | +€2,791 | +0.9% |
| Remuneration, social security and pensions | 62 | €54,114 | €58,739 | +€4,625 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,406 | €43,421 | +€1,015 | +2.4% |
| Other operating charges | 640/8 | €8,486 | €8,813 | +€327 | +3.9% |
| Gross operating margin | 9900 | €157,214 | €212,529 | +€55,315 | +35.2% |
| Operating profit (loss) | 9901 | €52,208 | €101,556 | +€49,348 | +94.5% |
| Financial income | 75/76B | €64 | €52 | -€12 | -19.0% |
| Recurring financial income | 75 | €64 | €52 | -€12 | -19.0% |
| Financial charges | 65/66B | €9,281 | €7,971 | -€1,310 | -14.1% |
| Recurring financial charges | 65 | €9,281 | €7,971 | -€1,310 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €42,991 | €93,637 | +€50,646 | +117.8% |
| Income taxes | 67/77 | €14,064 | €30,476 | +€16,412 | +116.7% |
| Profit (loss) for the period | 9904 | €28,927 | €63,161 | +€34,234 | +118.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,927 | €63,161 | +€34,234 | +118.3% |
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 11 October 2026 via checked.be.