SOLMAR: 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.
SOLMAR
Largest movements
- Current investments +€548,804
up €548,804 (+72.1%), from €760,848 to €1.3m
- Tangible fixed assets +€370,706
up €370,706 (+198.6%), from €186,651 to €557,357
of which Land and buildings: +€360,457
- Receivables within one year -€214,067
down €214,067 (-30.3%), from €706,769 to €492,703
of which Trade receivables: -€124,195
- Cash -€199,959
down €199,959 (-17.5%), from €1.1m to €942,733
mainly Current investments (-€548,804) and Investment in fixed assets (net) (-€438,278)
- Receivables after one year +€91,722
up €91,722 (+83.2%), from €110,233 to €201,955
- Reserves +€395,817
up €395,817 (+49.1%), from €806,074 to €1.2m
of which Distributable reserves: +€395,817
- Debts after one year +€149,418
up €149,418 (+119.1%), from €125,435 to €274,853
- Accrued charges and deferred income +€110,052
up €110,052 (+306.2%), from €35,936 to €145,988
- Trade debts -€77,687
down €77,687 (-32.2%), from €241,353 to €163,666
- Tax, wage and social debts +€55,959
up €55,959 (+220.9%), from €25,334 to €81,293
of which Taxes: +€41,972
- Gross operating margin +€348,080
up €348,080 (+69.4%), from €501,801 to €849,882
- Taxes +€105,987
up €105,987 (+170.1%), from €62,312 to €168,300
- Financial income +€45,614
up €45,614 (+172.5%), from €26,446 to €72,060
of which Financial income: +€41,989
- Financial charges +€30,242
up €30,242 (+250.3%), from €12,082 to €42,324
of which Financial charges: +€20,677
- Depreciation +€11,521
up €11,521 (+26.9%), from €42,773 to €54,294
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 | €2,922,932 | €3,579,083 | +€656,152 | +22.4% |
| Fixed assets | 21/28 | €198,215 | €582,199 | +€383,984 | +193.7% |
| Intangible fixed assets | 21 | €11,189 | €24,842 | +€13,653 | +122.0% |
| Tangible fixed assets | 22/27 | €186,651 | €557,357 | +€370,706 | +198.6% |
| Land and buildings | 22 | €91,043 | €451,501 | +€360,457 | +395.9% |
| Plant, machinery and equipment | 23 | €2,175 | €10,261 | +€8,086 | +371.8% |
| Furniture and vehicles | 24 | €85,633 | €90,804 | +€5,171 | +6.0% |
| Leasing and similar rights | 25 | €2,808 | €0 | -€2,808 | -100.0% |
| Other tangible fixed assets | 26 | €4,991 | €4,791 | -€199 | -4.0% |
| Financial fixed assets | 28 | €375 | - | -€375 | |
| Current assets | 29/58 | €2,724,717 | €2,996,884 | +€272,167 | +10.0% |
| Amounts receivable after more than one year | 29 | €110,233 | €201,955 | +€91,722 | +83.2% |
| Other amounts receivable | 291 | €110,233 | €201,955 | +€91,722 | +83.2% |
| Amounts receivable within one year | 40/41 | €706,769 | €492,703 | -€214,067 | -30.3% |
| Trade receivables | 40 | €574,556 | €450,361 | -€124,195 | -21.6% |
| Other amounts receivable | 41 | €132,214 | €42,342 | -€89,872 | -68.0% |
| Current investments | 50/53 | €760,848 | €1,309,653 | +€548,804 | +72.1% |
| Cash at bank and in hand | 54/58 | €1,142,692 | €942,733 | -€199,959 | -17.5% |
| Deferred charges and accrued income | 490/1 | €4,175 | €49,841 | +€45,667 | +1093.9% |
| Total equity and liabilities | 10/49 | €2,922,932 | €3,579,083 | +€656,152 | +22.4% |
| Equity | 10/15 | €880,442 | €1,276,259 | +€395,817 | +45.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,218 | €74,218 | = | 0.0% |
| Issued capital | 100 | €74,218 | €74,218 | = | 0.0% |
| Outside capital | 11 | €150 | €150 | = | 0.0% |
| Share premium | 1100/10 | €150 | €150 | = | 0.0% |
| Reserves | 13 | €806,074 | €1,201,891 | +€395,817 | +49.1% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €798,637 | €1,194,454 | +€395,817 | +49.6% |
| Amounts payable | 17/49 | €2,042,490 | €2,302,824 | +€260,335 | +12.7% |
| Amounts payable after more than one year | 17 | €125,435 | €274,853 | +€149,418 | +119.1% |
| Financial debts | 170/4 | €125,435 | €274,853 | +€149,418 | +119.1% |
| Amounts payable within one year | 42/48 | €1,881,119 | €1,881,984 | +€865 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €97,345 | €107,801 | +€10,456 | +10.7% |
| Financial debts | 43 | €84,115 | €100,202 | +€16,086 | +19.1% |
| Credit institutions | 430/8 | €84,115 | €100,202 | +€16,086 | +19.1% |
| Trade debts | 44 | €241,353 | €163,666 | -€77,687 | -32.2% |
| Suppliers | 440/4 | €241,353 | €163,666 | -€77,687 | -32.2% |
| Advances received on contracts in progress | 46 | €1,432,971 | €1,429,023 | -€3,948 | -0.3% |
| Taxes, remuneration and social security | 45 | €25,334 | €81,293 | +€55,959 | +220.9% |
| Taxes | 450/3 | €3,166 | €45,138 | +€41,972 | +1325.7% |
| Remuneration and social security | 454/9 | €22,168 | €36,155 | +€13,987 | +63.1% |
| Accrued charges and deferred income | 492/3 | €35,936 | €145,988 | +€110,052 | +306.2% |
| Non-recurring operating income | 76A | - | €17,800 | +€17,800 | |
| Remuneration, social security and pensions | 62 | €248,443 | €253,521 | +€5,078 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,773 | €54,294 | +€11,521 | +26.9% |
| Other operating charges | 640/8 | €3,884 | €7,687 | +€3,803 | +97.9% |
| Gross operating margin | 9900 | €501,801 | €849,882 | +€348,080 | +69.4% |
| Operating profit (loss) | 9901 | €206,701 | €534,380 | +€327,679 | +158.5% |
| Financial income | 75/76B | €26,446 | €72,060 | +€45,614 | +172.5% |
| Recurring financial income | 75 | €26,446 | €68,436 | +€41,989 | +158.8% |
| Non-recurring financial income | 76B | - | €3,625 | +€3,625 | |
| Financial charges | 65/66B | €12,082 | €42,324 | +€30,242 | +250.3% |
| Recurring financial charges | 65 | €12,082 | €32,759 | +€20,677 | +171.1% |
| Non-recurring financial charges | 66B | - | €9,565 | +€9,565 | |
| Profit (loss) for the period before taxes | 9903 | €221,066 | €564,117 | +€343,051 | +155.2% |
| Income taxes | 67/77 | €62,312 | €168,300 | +€105,987 | +170.1% |
| Profit (loss) for the period | 9904 | €158,754 | €395,817 | +€237,063 | +149.3% |
| Profit (loss) for the period to be appropriated | 9905 | €158,754 | €395,817 | +€237,063 | +149.3% |
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 6 October 2026 via checked.be.