SOLORA: 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
SOLORA
NACE 43.211, General electrical installation work
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.7m
2023 · €4.1m-€1.4m
Equity
€9.6m
2023 · €7.9m+€1.7m
Cash
€647,424
2023 · €2.3m-€1.6m
Balance sheet total
€14.9m
2023 · €13.8m+€1.0m
Largest movements
Assets
- Financial fixed assets +€3.0m
up €3.0m (+513.7%), from €589,146 to €3.6m
of which Affiliated companies: +€3.4m
- Current investments +€2.0m
new in 2024: €2.0m
- Cash -€1.6m
down €1.6m (-71.5%), from €2.3m to €647,424
mainly Investment in fixed assets (net) (-€3.1m) and Current investments (-€2.0m)
- Receivables within one year -€1.5m
down €1.5m (-30.8%), from €4.8m to €3.4m
of which Trade receivables: -€1.3m
- Stocks and contracts -€630,317
down €630,317 (-40.6%), from €1.6m to €923,047
Equity and liabilities
- Profit (loss) carried forward +€1.7m
up €1.7m (+25.2%), from €6.8m to €8.5m
- Accrued charges and deferred income -€901,364
down €901,364 (-22.9%), from €3.9m to €3.0m
- Short-term financial debts +€253,252
new in 2024: €253,252
Income statement
- Turnover +€26.0m
new in 2024: €26.0m
- Goods and materials +€15.6m
new in 2024: €15.6m
of which Purchases: +€15.0m
- Gross operating margin -€7.4m
no longer reported in 2024 (was €7.4m)
- Services and other goods +€4.1m
new in 2024: €4.1m
- Staff costs +€624,895
up €624,895 (+27.0%), from €2.3m to €2.9m
From the 2023 result to the 2024 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 2023
€4.1m
Turnover
+€26.0m
Other operating income
+€124,496
Goods and materials
-€15.6m
Services and other goods
-€4.1m
Staff costs
-€624,895
Depreciation
-€15,141
Provisions
+€200,685
Other operating charges
-€19,493
Other operating items
-€7.4m
Financial income
+€56,138
Financial charges
-€35,457
Taxes
+€16,929
Result 2024
€2.7m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.3m
Investment
-€5.1m
Financing
-€777,086
Cash 2023
€2.3m
From operations (derived)
+€4.3m
Net result for the year
+€2.7m
Depreciation
+€94,375
Stocks and contracts
+€630,317
Receivables within one year
+€1.5m
Deferred charges and accrued income
+€273,220
Provisions
-€124,535
Trade debts
+€8,519
Tax, wage and social debts
+€65,343
Other debts
+€1,074
Accrued charges and deferred income
-€901,364
Investment (derived)
-€5.1m
Investment in fixed assets (net)
-€3.1m
Current investments
-€2.0m
Financing
-€777,086
Short-term financial debts
+€253,252
Contributions, distributions and other
-€1.0m
Cash 2024
€647,424
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,847,653 | €14,859,863 | +€1.0m | +7.3% |
| Fixed assets | 21/28 | €810,197 | €3,840,017 | +€3.0m | +374.0% |
| Tangible fixed assets | 22/27 | €221,051 | €224,376 | +€3,325 | +1.5% |
| Plant, machinery and equipment | 23 | €32,054 | €21,679 | -€10,375 | -32.4% |
| Furniture and vehicles | 24 | €188,996 | €202,697 | +€13,700 | +7.2% |
| Financial fixed assets | 28 | €589,146 | €3,615,641 | +€3.0m | +513.7% |
| Affiliated companies | 280/1 | - | €3,370,626 | +€3.4m | |
| Participating interests | 280 | - | €2,704,030 | +€2.7m | |
| Amounts receivable | 281 | - | €666,596 | +€666,596 | |
| Other financial fixed assets | 284/8 | - | €245,015 | +€245,015 | |
| Amounts receivable and cash guarantees | 285/8 | - | €245,015 | +€245,015 | |
| Current assets | 29/58 | €13,037,456 | €11,019,846 | -€2.0m | -15.5% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,553,364 | €923,047 | -€630,317 | -40.6% |
| Stocks | 30/36 | €1,553,364 | €923,047 | -€630,317 | -40.6% |
| Goods purchased for resale | 34 | - | €923,047 | +€923,047 | |
| Amounts receivable within one year | 40/41 | €4,844,924 | €3,352,433 | -€1.5m | -30.8% |
| Trade receivables | 40 | €4,382,837 | €3,105,463 | -€1.3m | -29.1% |
| Other amounts receivable | 41 | €462,087 | €246,970 | -€215,117 | -46.6% |
| Current investments | 50/53 | - | €2,000,000 | +€2.0m | |
| Other investments | 51/53 | - | €2,000,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €2,269,007 | €647,424 | -€1.6m | -71.5% |
| Deferred charges and accrued income | 490/1 | €4,250,162 | €3,976,942 | -€273,220 | -6.4% |
| Total equity and liabilities | 10/49 | €13,847,653 | €14,859,863 | +€1.0m | +7.3% |
| Equity | 10/15 | €7,912,472 | €9,622,392 | +€1.7m | +21.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,102,655 | €1,102,655 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Tax-exempt reserves | 132 | €673,600 | €547,300 | -€126,300 | -18.8% |
| Distributable reserves | 133 | €427,200 | €555,355 | +€128,155 | +30.0% |
| Profit (loss) carried forward | 14 | €6,791,267 | €8,501,187 | +€1.7m | +25.2% |
| Provisions and deferred taxes | 16 | €605,601 | €481,066 | -€124,535 | -20.6% |
| Provisions for liabilities and charges | 160/5 | €605,601 | €481,066 | -€124,535 | -20.6% |
| Other liabilities and charges | 164/5 | €605,601 | €481,066 | -€124,535 | -20.6% |
| Amounts payable | 17/49 | €5,329,580 | €4,756,404 | -€573,176 | -10.8% |
| Amounts payable within one year | 42/48 | €1,386,132 | €1,714,320 | +€328,188 | +23.7% |
| Financial debts | 43 | - | €253,252 | +€253,252 | |
| Credit institutions | 430/8 | - | €253,252 | +€253,252 | |
| Trade debts | 44 | €980,344 | €988,863 | +€8,519 | +0.9% |
| Suppliers | 440/4 | €980,344 | €988,863 | +€8,519 | +0.9% |
| Taxes, remuneration and social security | 45 | €405,789 | €471,132 | +€65,343 | +16.1% |
| Taxes | 450/3 | €184,993 | €187,573 | +€2,580 | +1.4% |
| Remuneration and social security | 454/9 | €220,796 | €283,559 | +€62,763 | +28.4% |
| Other amounts payable | 47/48 | - | €1,074 | +€1,074 | |
| Accrued charges and deferred income | 492/3 | €3,943,448 | €3,042,084 | -€901,364 | -22.9% |
| Operating income | 70/76A | - | €26,144,270 | +€26.1m | |
| Turnover | 70 | - | €26,014,672 | +€26.0m | |
| Other operating income | 74 | - | €124,496 | +€124,496 | |
| Non-recurring operating income | 76A | - | €5,102 | +€5,102 | |
| Operating charges | 60/66A | - | €22,674,899 | +€22.7m | |
| Goods for resale, raw materials and consumables | 60 | - | €15,589,616 | +€15.6m | |
| Purchases | 600/8 | - | €14,959,299 | +€15.0m | |
| Change in stocks: decrease (increase) | 609 | - | €630,317 | +€630,317 | |
| Services and other goods | 61 | - | €4,131,534 | +€4.1m | |
| Remuneration, social security and pensions | 62 | €2,315,210 | €2,940,105 | +€624,895 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,235 | €94,375 | +€15,141 | +19.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €76,150 | -€124,535 | -€200,685 | |
| Other operating charges | 640/8 | €24,311 | €43,804 | +€19,493 | +80.2% |
| Gross operating margin | 9900 | €7,367,111 | - | -€7.4m | |
| Operating profit (loss) | 9901 | €4,872,206 | €3,469,370 | -€1.4m | -28.8% |
| Financial income | 75/76B | €5,701 | €61,839 | +€56,138 | +984.7% |
| Recurring financial income | 75 | €5,701 | €61,839 | +€56,138 | +984.7% |
| Income from financial fixed assets | 750 | - | €45,774 | +€45,774 | |
| Income from current assets | 751 | - | €13,520 | +€13,520 | |
| Other financial income | 752/9 | - | €2,545 | +€2,545 | |
| Financial charges | 65/66B | €21,541 | €56,998 | +€35,457 | +164.6% |
| Recurring financial charges | 65 | €21,541 | €56,998 | +€35,457 | +164.6% |
| Debt charges | 650 | - | €50,639 | +€50,639 | |
| Other financial charges | 652/9 | - | €6,359 | +€6,359 | |
| Profit (loss) for the period before taxes | 9903 | €4,856,366 | €3,474,212 | -€1.4m | -28.5% |
| Income taxes | 67/77 | €750,882 | €733,953 | -€16,929 | -2.3% |
| Taxes | 670/3 | - | €733,953 | +€733,953 | |
| Profit (loss) for the period | 9904 | €4,105,483 | €2,740,258 | -€1.4m | -33.3% |
| Transfer from tax-exempt reserves | 789 | €160,800 | €126,300 | -€34,500 | -21.5% |
| Transfer to tax-exempt reserves | 689 | €168,400 | - | -€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,097,883 | €2,866,558 | -€1.2m | -30.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.