SOLUBEL: what changed
What changed
SOLUBEL
NACE 43.230, Insulation installation
filed annual accounts (NBB)
Net result for the year
€12,017
2024 · €2,881+€9,136
Equity
€32,688
2024 · €20,671+€12,017
Cash
€21,394
2024 · €17,451+€3,943
Balance sheet total
€1.1m
2024 · €43,345+€1.0m
Largest movements
Assets
- Tangible fixed assets +€994,811
new in 2025: €994,811
of which Leasing and similar rights: +€993,951
- Receivables within one year +€12,469
up €12,469 (+48.2%), from €25,894 to €38,363
of which Trade receivables: +€10,781
Equity and liabilities
- Debts after one year +€805,924
new in 2025: €805,924
- Current portion of long-term debt +€173,110
new in 2025: €173,110
- Trade debts +€26,982
up €26,982 (+6,018%), from €448 to €27,430
- Profit (loss) carried forward +€12,017
up €12,017 (+5,708%), from €211 to €12,228
Income statement
- Gross operating margin +€33,306
up €33,306 (+54.7%), from €60,908 to €94,214
- Depreciation +€16,327
new in 2025: €16,327
- Financial charges +€5,064
up €5,064 (+12,965%), from €39 to €5,103
- Staff costs +€2,846
up €2,846 (+5.0%), from €57,441 to €60,287
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,881
Gross operating margin
+€33,306
Staff costs
-€2,846
Depreciation
-€16,327
Other operating charges
+€71
Financial income
-€4
Financial charges
-€5,064
Result 2025
€12,017
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€36,046
Investment
-€1.0m
Financing
+€979,035
Cash 2024
€17,451
From operations (derived)
+€36,046
Net result for the year
+€12,017
Depreciation
+€16,327
Receivables within one year
-€12,469
Trade debts
+€26,982
Tax, wage and social debts
-€6,811
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€979,035
Debts after one year
+€805,924
Current portion of long-term debt
+€173,110
Cash 2025
€21,394
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,345 | €1,054,568 | +€1.0m | +2,333% |
| Fixed assets | 21/28 | - | €994,811 | +€994,811 | |
| Tangible fixed assets | 22/27 | - | €994,811 | +€994,811 | |
| Furniture and vehicles | 24 | - | €860 | +€860 | |
| Leasing and similar rights | 25 | - | €993,951 | +€993,951 | |
| Current assets | 29/58 | €43,345 | €59,757 | +€16,412 | +37.9% |
| Amounts receivable within one year | 40/41 | €25,894 | €38,363 | +€12,469 | +48.2% |
| Trade receivables | 40 | €25,894 | €36,675 | +€10,781 | +41.6% |
| Other amounts receivable | 41 | - | €1,688 | +€1,688 | |
| Cash at bank and in hand | 54/58 | €17,451 | €21,394 | +€3,943 | +22.6% |
| Total equity and liabilities | 10/49 | €43,345 | €1,054,568 | +€1.0m | +2,333% |
| Equity | 10/15 | €20,671 | €32,688 | +€12,017 | +58.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211 | €12,228 | +€12,017 | +5,708% |
| Amounts payable | 17/49 | €22,674 | €1,021,880 | +€999,206 | +4,407% |
| Amounts payable after more than one year | 17 | - | €805,924 | +€805,924 | |
| Financial debts | 170/4 | - | €805,924 | +€805,924 | |
| Amounts payable within one year | 42/48 | €22,674 | €215,956 | +€193,282 | +852% |
| Current portion of amounts payable after more than one year | 42 | - | €173,110 | +€173,110 | |
| Trade debts | 44 | €448 | €27,430 | +€26,982 | +6,018% |
| Suppliers | 440/4 | €448 | €27,430 | +€26,982 | +6,018% |
| Taxes, remuneration and social security | 45 | €21,746 | €14,936 | -€6,811 | -31.3% |
| Taxes | 450/3 | €8,617 | €2,044 | -€6,572 | -76.3% |
| Remuneration and social security | 454/9 | €13,130 | €12,891 | -€238 | -1.8% |
| Other amounts payable | 47/48 | €480 | €480 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €57,441 | €60,287 | +€2,846 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €16,327 | +€16,327 | |
| Other operating charges | 640/8 | €551 | €480 | -€71 | -12.9% |
| Gross operating margin | 9900 | €60,908 | €94,214 | +€33,306 | +54.7% |
| Operating profit (loss) | 9901 | €2,917 | €17,120 | +€14,204 | +487% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €39 | €5,103 | +€5,064 | +12,965% |
| Recurring financial charges | 65 | €39 | €5,103 | +€5,064 | +12,965% |
| Profit (loss) for the period before taxes | 9903 | €2,881 | €12,017 | +€9,136 | +317% |
| Profit (loss) for the period | 9904 | €2,881 | €12,017 | +€9,136 | +317% |
| Profit (loss) for the period to be appropriated | 9905 | €2,881 | €12,017 | +€9,136 | +317% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.