SOLPACO: 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.
SOLPACO
Largest movements
- Current investments +€75,000
up €75,000 (+66.5%), from €112,732 to €187,732
- Receivables within one year +€21,736
up €21,736 (+34.6%), from €62,812 to €84,548
of which Trade receivables: +€25,935
- Reserves +€89,768
up €89,768 (+52.7%), from €170,317 to €260,084
of which Distributable reserves: +€89,768
- Trade debts +€5,292
up €5,292 (+24.0%), from €22,011 to €27,303
- Gross operating margin +€38,425
up €38,425 (+39.0%), from €98,474 to €136,898
- Taxes +€11,339
up €11,339 (+34.9%), from €32,448 to €43,787
- Depreciation -€2,490
down €2,490 (-78.5%), from €3,171 to €680
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 | €223,329 | €317,780 | +€94,451 | +42.3% |
| Fixed assets | 21/28 | €3,267 | €2,586 | -€680 | -20.8% |
| Tangible fixed assets | 22/27 | €3,267 | €2,586 | -€680 | -20.8% |
| Land and buildings | 22 | €3,267 | €2,586 | -€680 | -20.8% |
| Current assets | 29/58 | €220,062 | €315,194 | +€95,132 | +43.2% |
| Amounts receivable within one year | 40/41 | €62,812 | €84,548 | +€21,736 | +34.6% |
| Trade receivables | 40 | €56,843 | €82,777 | +€25,935 | +45.6% |
| Other amounts receivable | 41 | €5,969 | €1,770 | -€4,199 | -70.3% |
| Current investments | 50/53 | €112,732 | €187,732 | +€75,000 | +66.5% |
| Cash at bank and in hand | 54/58 | €44,291 | €42,914 | -€1,377 | -3.1% |
| Deferred charges and accrued income | 490/1 | €227 | €0 | -€227 | -100% |
| Total equity and liabilities | 10/49 | €223,329 | €317,780 | +€94,451 | +42.3% |
| Equity | 10/15 | €190,777 | €280,544 | +€89,768 | +47.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €170,317 | €260,084 | +€89,768 | +52.7% |
| Tax-exempt reserves | 132 | €952 | €952 | = | 0.0% |
| Distributable reserves | 133 | €169,365 | €259,132 | +€89,768 | +53.0% |
| Amounts payable | 17/49 | €32,552 | €37,236 | +€4,684 | +14.4% |
| Amounts payable within one year | 42/48 | €32,552 | €37,236 | +€4,684 | +14.4% |
| Trade debts | 44 | €22,011 | €27,303 | +€5,292 | +24.0% |
| Suppliers | 440/4 | €22,011 | €27,303 | +€5,292 | +24.0% |
| Advances received on contracts in progress | 46 | €440 | €440 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,619 | €9,229 | -€391 | -4.1% |
| Taxes | 450/3 | €9,619 | €9,229 | -€391 | -4.1% |
| Other amounts payable | 47/48 | €481 | €264 | -€217 | -45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,171 | €680 | -€2,490 | -78.5% |
| Other operating charges | 640/8 | €1,223 | €2,537 | +€1,314 | +107% |
| Gross operating margin | 9900 | €98,474 | €136,898 | +€38,425 | +39.0% |
| Operating profit (loss) | 9901 | €94,080 | €133,681 | +€39,601 | +42.1% |
| Financial income | 75/76B | €5 | €0 | -€4 | -95.0% |
| Recurring financial income | 75 | €5 | €0 | -€4 | -95.0% |
| Financial charges | 65/66B | €163 | €126 | -€37 | -22.9% |
| Recurring financial charges | 65 | €163 | €126 | -€37 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €93,921 | €133,555 | +€39,634 | +42.2% |
| Income taxes | 67/77 | €32,448 | €43,787 | +€11,339 | +34.9% |
| Profit (loss) for the period | 9904 | €61,473 | €89,768 | +€28,295 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,473 | €89,768 | +€28,295 | +46.0% |
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 16 October 2026 via checked.be.