SOLID: 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.
SOLID
Largest movements
- Financial fixed assets -€466,500
down €466,500 (-56.1%), from €831,030 to €364,530
- Cash +€357,450
up €357,450 (+217.6%), from €164,297 to €521,746
mainly Investment in fixed assets (net) (+€439,888) and Net result for the year (+€34,117)
- Receivables within one year +€22,721
up €22,721 (+510576.9%), from €4 to €22,725
of which Trade receivables: +€12,100
- Tangible fixed assets +€12,090
new in 2025: €12,090
- Reserves -€47,244
down €47,244 (-5.9%), from €806,152 to €758,908
of which Distributable reserves: -€47,244
- Debts after one year -€26,069
down €26,069 (-37.2%), from €70,127 to €44,058
- Financial income -€140,183
down €140,183 (-93.5%), from €150,001 to €9,818
of which Financial income: -€148,683
- Gross operating margin -€87,763
down €87,763 (-62.4%), from €140,544 to €52,780
- Taxes -€46,644
down €46,644 (-81.2%), from €57,471 to €10,827
- Depreciation +€14,521
new in 2025: €14,521
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 | €995,331 | €921,092 | -€74,239 | -7.5% |
| Fixed assets | 21/28 | €831,030 | €376,620 | -€454,410 | -54.7% |
| Tangible fixed assets | 22/27 | - | €12,090 | +€12,090 | |
| Furniture and vehicles | 24 | - | €12,090 | +€12,090 | |
| Financial fixed assets | 28 | €831,030 | €364,530 | -€466,500 | -56.1% |
| Current assets | 29/58 | €164,301 | €544,472 | +€380,170 | +231.4% |
| Amounts receivable within one year | 40/41 | €4 | €22,725 | +€22,721 | +510576.9% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €4 | €10,625 | +€10,621 | +238666.7% |
| Cash at bank and in hand | 54/58 | €164,297 | €521,746 | +€357,450 | +217.6% |
| Total equity and liabilities | 10/49 | €995,331 | €921,092 | -€74,239 | -7.5% |
| Equity | 10/15 | €824,754 | €777,510 | -€47,244 | -5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €806,152 | €758,908 | -€47,244 | -5.9% |
| Non-distributable reserves | 130/1 | €14,280 | €14,280 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,280 | €14,280 | = | 0.0% |
| Distributable reserves | 133 | €791,872 | €744,628 | -€47,244 | -6.0% |
| Profit (loss) carried forward | 14 | €2 | €2 | = | 0.0% |
| Provisions and deferred taxes | 16 | €41,316 | €41,316 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €41,316 | €41,316 | = | 0.0% |
| Pensions and similar obligations | 160 | €41,316 | €41,316 | = | 0.0% |
| Amounts payable | 17/49 | €129,261 | €102,266 | -€26,995 | -20.9% |
| Amounts payable after more than one year | 17 | €70,127 | €44,058 | -€26,069 | -37.2% |
| Financial debts | 170/4 | €70,127 | €44,058 | -€26,069 | -37.2% |
| Amounts payable within one year | 42/48 | €59,135 | €58,209 | -€926 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €25,798 | €26,069 | +€271 | +1.0% |
| Trade debts | 44 | €1,683 | €1,098 | -€585 | -34.8% |
| Suppliers | 440/4 | €1,683 | €1,098 | -€585 | -34.8% |
| Taxes, remuneration and social security | 45 | €31,171 | €29,688 | -€1,483 | -4.8% |
| Taxes | 450/3 | €31,171 | €29,688 | -€1,483 | -4.8% |
| Other amounts payable | 47/48 | €483 | €1,354 | +€871 | +180.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,521 | +€14,521 | |
| Other operating charges | 640/8 | €1,309 | €1,948 | +€639 | +48.9% |
| Gross operating margin | 9900 | €140,544 | €52,780 | -€87,763 | -62.4% |
| Operating profit (loss) | 9901 | €139,235 | €36,311 | -€102,924 | -73.9% |
| Financial income | 75/76B | €150,001 | €9,818 | -€140,183 | -93.5% |
| Recurring financial income | 75 | €150,001 | €1,318 | -€148,683 | -99.1% |
| Non-recurring financial income | 76B | - | €8,500 | +€8,500 | |
| Financial charges | 65/66B | €1,469 | €1,185 | -€285 | -19.4% |
| Recurring financial charges | 65 | €1,469 | €1,185 | -€285 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €287,767 | €44,944 | -€242,823 | -84.4% |
| Income taxes | 67/77 | €57,471 | €10,827 | -€46,644 | -81.2% |
| Profit (loss) for the period | 9904 | €230,295 | €34,117 | -€196,178 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €230,295 | €34,117 | -€196,178 | -85.2% |
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 2 October 2026 via checked.be.