SOLHER: what changed
Two fiscal 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.
SOLHER
Largest movements
- Financial fixed assets +€9.6m
up €9.6m (+8.2%), from €117.1m to €126.7m
- Current investments -€8.9m
no longer reported in 2025 (was €8.9m)
- Cash +€2.6m
up €2.6m (+3174.1%), from €82,962 to €2.7m
mainly Current investments (+€8.9m) and Net result for the year (+€5.2m)
- Receivables within one year +€1.4m
up €1.4m (+369.4%), from €370,311 to €1.7m
- Reserves +€3.5m
up €3.5m (+44.9%), from €7.9m to €11.4m
- Other debts +€1.6m
new in 2025: €1.6m
- Financial income +€4.8m
up €4.8m (+315.0%), from €1.5m to €6.3m
- Taxes +€432,545
up €432,545 (+516.9%), from €83,688 to €516,232
- Financial charges +€47,496
up €47,496 (+10.3%), from €462,797 to €510,293
- Gross operating margin +€36,481
up €36,481 (+32.6%), from -€112,049 to -€75,568
- Other operating charges -€1,807
down €1,807 (-10.1%), from €17,921 to €16,114
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 | €126,385,815 | €131,124,334 | +€4.7m | +3.7% |
| Fixed assets | 21/28 | €117,065,162 | €126,669,853 | +€9.6m | +8.2% |
| Financial fixed assets | 28 | €117,065,162 | €126,669,853 | +€9.6m | +8.2% |
| Current assets | 29/58 | €9,320,653 | €4,454,481 | -€4.9m | -52.2% |
| Amounts receivable within one year | 40/41 | €370,311 | €1,738,238 | +€1.4m | +369.4% |
| Other amounts receivable | 41 | €370,311 | €1,738,238 | +€1.4m | +369.4% |
| Current investments | 50/53 | €8,867,379 | - | -€8.9m | |
| Cash at bank and in hand | 54/58 | €82,962 | €2,716,243 | +€2.6m | +3174.1% |
| Total equity and liabilities | 10/49 | €126,385,815 | €131,124,334 | +€4.7m | +3.7% |
| Equity | 10/15 | €101,203,322 | €104,740,289 | +€3.5m | +3.5% |
| Contributions | 10/11 | €86,250,003 | €86,250,003 | = | 0.0% |
| Reserves | 13 | €7,878,654 | €11,415,620 | +€3.5m | +44.9% |
| Distributable reserves | 133 | €7,878,654 | €11,415,620 | +€3.5m | +44.9% |
| Profit (loss) carried forward | 14 | €7,074,666 | €7,074,666 | = | 0.0% |
| Amounts payable | 17/49 | €25,182,492 | €26,384,046 | +€1.2m | +4.8% |
| Amounts payable after more than one year | 17 | €23,681,633 | €24,264,431 | +€582,798 | +2.5% |
| Financial debts | 170/4 | €10,000,000 | €22,582,798 | +€12.6m | +125.8% |
| Other amounts payable | 178/9 | €13,681,633 | €1,681,633 | -€12.0m | -87.7% |
| Amounts payable within one year | 42/48 | €1,500,860 | €2,042,556 | +€541,696 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | €1,500,000 | €417,202 | -€1.1m | -72.2% |
| Trade debts | 44 | €860 | - | -€860 | |
| Suppliers | 440/4 | €860 | - | -€860 | |
| Other amounts payable | 47/48 | - | €1,625,355 | +€1.6m | |
| Accrued charges and deferred income | 492/3 | - | €77,058 | +€77,058 | |
| Other operating charges | 640/8 | €17,921 | €16,114 | -€1,807 | -10.1% |
| Gross operating margin | 9900 | -€112,049 | -€75,568 | +€36,481 | +32.6% |
| Operating profit (loss) | 9901 | -€129,970 | -€91,682 | +€38,288 | +29.5% |
| Financial income | 75/76B | €1,513,329 | €6,280,528 | +€4.8m | +315.0% |
| Recurring financial income | 75 | €1,513,329 | €6,280,528 | +€4.8m | +315.0% |
| Financial charges | 65/66B | €462,797 | €510,293 | +€47,496 | +10.3% |
| Recurring financial charges | 65 | €462,797 | €510,293 | +€47,496 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €920,563 | €5,678,553 | +€4.8m | +516.9% |
| Income taxes | 67/77 | €83,688 | €516,232 | +€432,545 | +516.9% |
| Profit (loss) for the period | 9904 | €836,875 | €5,162,321 | +€4.3m | +516.9% |
| Profit (loss) for the period to be appropriated | 9905 | €836,875 | €5,162,321 | +€4.3m | +516.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.