SOLOR: 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.
What changed
SOLOR
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€47,437
2024 · -€62,651+€110,088
Equity
€63,836
2024 · €22,465+€41,371
Cash
€24,626
2024 · €25,333-€708
Balance sheet total
€778,190
2024 · €877,795-€99,605
Largest movements
Assets
- Tangible fixed assets -€84,134
down €84,134 (-12.3%), from €684,432 to €600,298
Equity and liabilities
- Debts after one year -€89,635
down €89,635 (-17.0%), from €528,418 to €438,782
- Profit (loss) carried forward +€47,437
up €47,437, from -€43,520 to €3,917
- Trade debts -€23,866
down €23,866 (-41.9%), from €57,009 to €33,143
- Tax, wage and social debts -€11,600
down €11,600 (-15.9%), from €73,111 to €61,511
of which Remuneration and social security: -€9,286
- Current portion of long-term debt -€10,412
down €10,412 (-9.4%), from €110,244 to €99,832
Income statement
- Gross operating margin +€98,669
up €98,669 (+29.3%), from €336,238 to €434,907
- Staff costs +€12,575
up €12,575 (+4.9%), from €254,413 to €266,988
- Financial income +€10,702
up €10,702 (+119.3%), from €8,974 to €19,676
of which Non-recurring financial income: +€10,953
- Depreciation -€10,162
down €10,162 (-9.0%), from €112,975 to €102,812
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.
Result 2024
-€62,651
Gross operating margin
+€98,669
Staff costs
-€12,575
Depreciation
+€10,162
Write-downs
+€3,975
Other operating charges
-€3,666
Other operating items
+€1,580
Financial income
+€10,702
Financial charges
+€1,253
Taxes
-€12
Result 2025
€47,437
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.
From operations
+€124,592
Investment
-€14,941
Financing
-€110,359
Cash 2024
€25,333
From operations (derived)
+€124,592
Net result for the year
+€47,437
Depreciation
+€102,812
Receivables within one year
+€7,837
Deferred charges and accrued income
+€3,189
Trade debts
-€23,866
Tax, wage and social debts
-€11,600
Other debts
+€1,937
Accrued charges and deferred income
-€3,155
Investment (derived)
-€14,941
Investment in fixed assets (net)
-€14,941
Financing
-€110,359
Debts after one year
-€89,635
Current portion of long-term debt
-€10,412
Short-term financial debts
-€4,246
Contributions, distributions and other
-€6,066
Cash 2025
€24,626
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €877,795 | €778,190 | -€99,605 | -11.3% |
| Fixed assets | 21/28 | €701,729 | €613,857 | -€87,872 | -12.5% |
| Intangible fixed assets | 21 | €16,862 | €13,125 | -€3,737 | -22.2% |
| Tangible fixed assets | 22/27 | €684,432 | €600,298 | -€84,134 | -12.3% |
| Land and buildings | 22 | €514,391 | €484,750 | -€29,641 | -5.8% |
| Plant, machinery and equipment | 23 | €83,720 | €50,358 | -€33,363 | -39.9% |
| Furniture and vehicles | 24 | €14,059 | €16,077 | +€2,017 | +14.3% |
| Leasing and similar rights | 25 | €72,262 | €49,114 | -€23,148 | -32.0% |
| Financial fixed assets | 28 | €434 | €434 | = | 0.0% |
| Current assets | 29/58 | €176,066 | €164,333 | -€11,734 | -6.7% |
| Amounts receivable within one year | 40/41 | €123,658 | €115,821 | -€7,837 | -6.3% |
| Trade receivables | 40 | €26,732 | €43,813 | +€17,081 | +63.9% |
| Other amounts receivable | 41 | €96,926 | €72,007 | -€24,918 | -25.7% |
| Cash at bank and in hand | 54/58 | €25,333 | €24,626 | -€708 | -2.8% |
| Deferred charges and accrued income | 490/1 | €27,075 | €23,886 | -€3,189 | -11.8% |
| Total equity and liabilities | 10/49 | €877,795 | €778,190 | -€99,605 | -11.3% |
| Equity | 10/15 | €22,465 | €63,836 | +€41,371 | +184.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,520 | €3,917 | +€47,437 | |
| Investment grants | 15 | €59,985 | €53,919 | -€6,066 | -10.1% |
| Amounts payable | 17/49 | €855,330 | €714,354 | -€140,976 | -16.5% |
| Amounts payable after more than one year | 17 | €528,418 | €438,782 | -€89,635 | -17.0% |
| Financial debts | 170/4 | €528,418 | €438,782 | -€89,635 | -17.0% |
| Amounts payable within one year | 42/48 | €318,818 | €270,631 | -€48,186 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €110,244 | €99,832 | -€10,412 | -9.4% |
| Financial debts | 43 | €67,473 | €63,227 | -€4,246 | -6.3% |
| Credit institutions | 430/8 | €67,473 | €63,227 | -€4,246 | -6.3% |
| Trade debts | 44 | €57,009 | €33,143 | -€23,866 | -41.9% |
| Suppliers | 440/4 | €57,009 | €33,143 | -€23,866 | -41.9% |
| Taxes, remuneration and social security | 45 | €73,111 | €61,511 | -€11,600 | -15.9% |
| Taxes | 450/3 | €19,036 | €16,722 | -€2,314 | -12.2% |
| Remuneration and social security | 454/9 | €54,075 | €44,789 | -€9,286 | -17.2% |
| Other amounts payable | 47/48 | €10,981 | €12,919 | +€1,937 | +17.6% |
| Accrued charges and deferred income | 492/3 | €8,095 | €4,940 | -€3,155 | -39.0% |
| Remuneration, social security and pensions | 62 | €254,413 | €266,988 | +€12,575 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,975 | €102,812 | -€10,162 | -9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,925 | -€1,050 | -€3,975 | |
| Other operating charges | 640/8 | €10,894 | €14,560 | +€3,666 | +33.7% |
| Non-recurring operating charges | 66A | €1,580 | - | -€1,580 | |
| Gross operating margin | 9900 | €336,238 | €434,907 | +€98,669 | +29.3% |
| Operating profit (loss) | 9901 | -€46,549 | €51,596 | +€98,145 | |
| Financial income | 75/76B | €8,974 | €19,676 | +€10,702 | +119.3% |
| Recurring financial income | 75 | €6,389 | €6,138 | -€251 | -3.9% |
| Non-recurring financial income | 76B | €2,585 | €13,538 | +€10,953 | +423.7% |
| Financial charges | 65/66B | €24,949 | €23,696 | -€1,253 | -5.0% |
| Recurring financial charges | 65 | €24,949 | €23,696 | -€1,253 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,523 | €47,577 | +€110,100 | |
| Income taxes | 67/77 | €128 | €140 | +€12 | +9.6% |
| Profit (loss) for the period | 9904 | -€62,651 | €47,437 | +€110,088 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,651 | €47,437 | +€110,088 |
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 3 October 2026 via checked.be.