SOLUTHERM: 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.
SOLUTHERM
Largest movements
- Tangible fixed assets +€25,367
up €25,367 (+211.9%), from €11,969 to €37,337
of which Furniture and vehicles: +€24,933
- Cash -€7,492
down €7,492 (-26.4%), from €28,337 to €20,845
mainly Investment in fixed assets (net) (-€38,585) and Net result for the year (-€17,194)
- Intangible fixed assets -€2,012
down €2,012 (-14.0%), from €14,360 to €12,348
- Receivables within one year -€1,690
down €1,690 (-2.6%), from €64,656 to €62,967
of which Other amounts receivable: -€6,367
- Debts after one year +€20,069
up €20,069 (+938.1%), from €2,139 to €22,209
- Reserves -€13,732
down €13,732 (-48.6%), from €28,232 to €14,500
of which Tax-exempt reserves: -€13,732
- Tax, wage and social debts +€12,827
up €12,827 (+5021.4%), from €255 to €13,082
of which Remuneration and social security: +€10,101
- Trade debts +€11,793
up €11,793 (+31.0%), from €38,079 to €49,872
- Advances received -€7,767
no longer reported in 2025 (was €7,767)
- Staff costs +€43,336
up €43,336 (+1744.8%), from €2,484 to €45,820
- Gross operating margin +€9,415
up €9,415 (+25.1%), from €37,519 to €46,934
- Depreciation +€7,129
up €7,129 (+88.0%), from €8,101 to €15,230
- Taxes -€1,771
down €1,771 (-50.6%), from €3,499 to €1,728
- Financial charges +€1,034
up €1,034 (+210.8%), from €491 to €1,525
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 | €124,375 | €137,091 | +€12,716 | +10.2% |
| Fixed assets | 21/28 | €26,479 | €49,834 | +€23,355 | +88.2% |
| Intangible fixed assets | 21 | €14,360 | €12,348 | -€2,012 | -14.0% |
| Tangible fixed assets | 22/27 | €11,969 | €37,337 | +€25,367 | +211.9% |
| Plant, machinery and equipment | 23 | €204 | €907 | +€703 | +344.3% |
| Furniture and vehicles | 24 | €9,511 | €34,444 | +€24,933 | +262.1% |
| Other tangible fixed assets | 26 | €2,254 | €1,986 | -€268 | -11.9% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €97,896 | €87,256 | -€10,639 | -10.9% |
| Stocks and contracts in progress | 3 | €1,499 | €675 | -€824 | -55.0% |
| Stocks | 30/36 | €1,499 | €675 | -€824 | -55.0% |
| Amounts receivable within one year | 40/41 | €64,656 | €62,967 | -€1,690 | -2.6% |
| Trade receivables | 40 | €20,603 | €25,281 | +€4,678 | +22.7% |
| Other amounts receivable | 41 | €44,053 | €37,686 | -€6,367 | -14.5% |
| Cash at bank and in hand | 54/58 | €28,337 | €20,845 | -€7,492 | -26.4% |
| Deferred charges and accrued income | 490/1 | €3,404 | €2,770 | -€633 | -18.6% |
| Total equity and liabilities | 10/49 | €124,375 | €137,091 | +€12,716 | +10.2% |
| Equity | 10/15 | €53,724 | €41,107 | -€12,617 | -23.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €28,232 | €14,500 | -€13,732 | -48.6% |
| Tax-exempt reserves | 132 | €13,732 | - | -€13,732 | |
| Distributable reserves | 133 | €14,500 | €14,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,492 | €21,607 | +€1,115 | +5.4% |
| Provisions and deferred taxes | 16 | €4,577 | - | -€4,577 | |
| Deferred taxes | 168 | €4,577 | - | -€4,577 | |
| Amounts payable | 17/49 | €66,073 | €95,984 | +€29,910 | +45.3% |
| Amounts payable after more than one year | 17 | €2,139 | €22,209 | +€20,069 | +938.1% |
| Financial debts | 170/4 | €2,139 | €22,209 | +€20,069 | +938.1% |
| Amounts payable within one year | 42/48 | €63,934 | €73,775 | +€9,841 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €15,938 | €8,906 | -€7,032 | -44.1% |
| Trade debts | 44 | €38,079 | €49,872 | +€11,793 | +31.0% |
| Suppliers | 440/4 | €38,079 | €49,872 | +€11,793 | +31.0% |
| Advances received on contracts in progress | 46 | €7,767 | - | -€7,767 | |
| Taxes, remuneration and social security | 45 | €255 | €13,082 | +€12,827 | +5021.4% |
| Taxes | 450/3 | €255 | €2,981 | +€2,726 | +1067.1% |
| Remuneration and social security | 454/9 | - | €10,101 | +€10,101 | |
| Other amounts payable | 47/48 | €1,895 | €1,915 | +€20 | +1.0% |
| Non-recurring operating income | 76A | €18,330 | €615 | -€17,715 | -96.6% |
| Remuneration, social security and pensions | 62 | €2,484 | €45,820 | +€43,336 | +1744.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,101 | €15,230 | +€7,129 | +88.0% |
| Other operating charges | 640/8 | €795 | €144 | -€651 | -81.9% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €37,519 | €46,934 | +€9,415 | +25.1% |
| Operating profit (loss) | 9901 | €26,077 | -€14,260 | -€40,336 | |
| Financial income | 75/76B | €207 | €318 | +€112 | +54.0% |
| Recurring financial income | 75 | €207 | €318 | +€112 | +54.0% |
| Financial charges | 65/66B | €491 | €1,525 | +€1,034 | +210.8% |
| Recurring financial charges | 65 | €491 | €1,525 | +€1,034 | +210.8% |
| Profit (loss) for the period before taxes | 9903 | €25,793 | -€15,466 | -€41,259 | |
| Transfer from deferred taxes | 780 | €5 | - | -€5 | |
| Transfer to deferred taxes | 680 | €4,582 | - | -€4,582 | |
| Income taxes | 67/77 | €3,499 | €1,728 | -€1,771 | -50.6% |
| Profit (loss) for the period | 9904 | €17,716 | -€17,194 | -€34,911 | |
| Transfer from tax-exempt reserves | 789 | €15 | €18,310 | +€18,294 | +121075.1% |
| Transfer to tax-exempt reserves | 689 | €13,747 | - | -€13,747 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,984 | €1,115 | -€2,869 | -72.0% |
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 12 October 2026 via checked.be.