Solidus Capital: 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.
Solidus Capital
Largest movements
- Cash -€13,442
down €13,442 (-100%), from €13,442 to €0
mainly Contributions, distributions and other (-€83,520) and Trade debts (-€2,488)
- Tangible fixed assets -€7,447
down €7,447 (-19.9%), from €37,427 to €29,980
of which Other tangible fixed assets: -€4,023
- Receivables within one year -€7,347
down €7,347 (-14.1%), from €52,157 to €44,810
of which Other amounts receivable: -€23,741
- Reserves -€79,250
down €79,250 (-94.9%), from €83,520 to €4,269
- Other debts +€33,664
up €33,664 (+1,530%), from €2,200 to €35,864
- Short-term financial debts +€13,075
new in 2025: €13,075
- Tax, wage and social debts +€6,475
up €6,475 (+95.1%), from €6,807 to €13,282
- Trade debts -€2,488
down €2,488 (-21.2%), from €11,741 to €9,253
- Gross operating margin -€42,702
down €42,702 (-57.9%), from €73,748 to €31,047
- Other operating charges -€7,756
down €7,756 (-69.4%), from €11,172 to €3,416
- Financial charges +€1,477
up €1,477 (+722%), from €205 to €1,682
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 | €104,267 | €75,743 | -€28,524 | -27.4% |
| Fixed assets | 21/28 | €37,427 | €29,980 | -€7,447 | -19.9% |
| Tangible fixed assets | 22/27 | €37,427 | €29,980 | -€7,447 | -19.9% |
| Plant, machinery and equipment | 23 | €1,217 | €293 | -€923 | -75.9% |
| Furniture and vehicles | 24 | €4,462 | €1,962 | -€2,501 | -56.0% |
| Other tangible fixed assets | 26 | €31,748 | €27,725 | -€4,023 | -12.7% |
| Current assets | 29/58 | €66,841 | €45,764 | -€21,077 | -31.5% |
| Stocks and contracts in progress | 3 | €213 | €954 | +€741 | +348% |
| Stocks | 30/36 | €213 | €954 | +€741 | +348% |
| Amounts receivable within one year | 40/41 | €52,157 | €44,810 | -€7,347 | -14.1% |
| Trade receivables | 40 | €23,416 | €39,810 | +€16,394 | +70.0% |
| Other amounts receivable | 41 | €28,741 | €5,000 | -€23,741 | -82.6% |
| Cash at bank and in hand | 54/58 | €13,442 | €0 | -€13,442 | -100% |
| Deferred charges and accrued income | 490/1 | €1,029 | €0 | -€1,029 | -100% |
| Total equity and liabilities | 10/49 | €104,267 | €75,743 | -€28,524 | -27.4% |
| Equity | 10/15 | €83,520 | €4,269 | -€79,250 | -94.9% |
| Reserves | 13 | €83,520 | €4,269 | -€79,250 | -94.9% |
| Distributable reserves | 133 | €83,520 | €4,269 | -€79,250 | -94.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,748 | €71,474 | +€50,726 | +244% |
| Amounts payable within one year | 42/48 | €20,748 | €71,474 | +€50,726 | +244% |
| Financial debts | 43 | - | €13,075 | +€13,075 | |
| Credit institutions | 430/8 | - | €13,075 | +€13,075 | |
| Trade debts | 44 | €11,741 | €9,253 | -€2,488 | -21.2% |
| Suppliers | 440/4 | €11,741 | €9,253 | -€2,488 | -21.2% |
| Taxes, remuneration and social security | 45 | €6,807 | €13,282 | +€6,475 | +95.1% |
| Taxes | 450/3 | €6,807 | €13,282 | +€6,475 | +95.1% |
| Other amounts payable | 47/48 | €2,200 | €35,864 | +€33,664 | +1,530% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,445 | €7,447 | +€2 | 0.0% |
| Other operating charges | 640/8 | €11,172 | €3,416 | -€7,756 | -69.4% |
| Gross operating margin | 9900 | €73,748 | €31,047 | -€42,702 | -57.9% |
| Operating profit (loss) | 9901 | €55,131 | €20,184 | -€34,947 | -63.4% |
| Financial income | 75/76B | €170 | €25 | -€145 | -85.5% |
| Recurring financial income | 75 | €170 | €25 | -€145 | -85.5% |
| Financial charges | 65/66B | €205 | €1,682 | +€1,477 | +722% |
| Recurring financial charges | 65 | €205 | €1,682 | +€1,477 | +722% |
| Profit (loss) for the period before taxes | 9903 | €55,097 | €18,527 | -€36,570 | -66.4% |
| Income taxes | 67/77 | €14,121 | €14,258 | +€137 | +1.0% |
| Profit (loss) for the period | 9904 | €40,975 | €4,269 | -€36,706 | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,975 | €4,269 | -€36,706 | -89.6% |
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 15 October 2026 via checked.be.