SOLVO Projects & Elektrics: 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.
SOLVO Projects & Elektrics
Largest movements
- Tangible fixed assets +€12,285
up €12,285 (+12.4%), from €99,215 to €111,500
of which Land and buildings: +€13,178
- Receivables within one year +€7,788
up €7,788 (+28.2%), from €27,574 to €35,362
of which Other amounts receivable: +€7,651
- Current investments +€5,204
up €5,204 (+254%), from €2,045 to €7,248
- Cash -€4,563
down €4,563 (-13.3%), from €34,296 to €29,733
mainly Contributions, distributions and other (-€49,145) and Investment in fixed assets (net) (-€24,903)
- Other debts +€41,849
up €41,849 (+4,923%), from €850 to €42,699
- Profit (loss) carried forward -€31,897
no longer reported in 2025 (was €31,897)
- Trade debts +€9,746
up €9,746 (+236%), from €4,122 to €13,867
- Tax, wage and social debts +€7,372
new in 2025: €7,372
- Debts after one year -€6,945
down €6,945 (-58.1%), from €11,951 to €5,007
- Gross operating margin -€31,118
down €31,118 (-45.9%), from €67,767 to €36,649
- Taxes -€10,554
down €10,554 (-66.2%), from €15,932 to €5,378
- Depreciation +€3,431
up €3,431 (+37.3%), from €9,187 to €12,618
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 | €165,338 | €185,862 | +€20,524 | +12.4% |
| Fixed assets | 21/28 | €99,215 | €111,500 | +€12,285 | +12.4% |
| Tangible fixed assets | 22/27 | €99,215 | €111,500 | +€12,285 | +12.4% |
| Land and buildings | 22 | €49,774 | €62,953 | +€13,178 | +26.5% |
| Plant, machinery and equipment | 23 | €15,641 | €21,211 | +€5,570 | +35.6% |
| Furniture and vehicles | 24 | €33,800 | €26,127 | -€7,674 | -22.7% |
| Other tangible fixed assets | 26 | - | €1,210 | +€1,210 | |
| Current assets | 29/58 | €66,123 | €74,362 | +€8,239 | +12.5% |
| Amounts receivable within one year | 40/41 | €27,574 | €35,362 | +€7,788 | +28.2% |
| Trade receivables | 40 | €13,120 | €13,257 | +€137 | +1.0% |
| Other amounts receivable | 41 | €14,454 | €22,104 | +€7,651 | +52.9% |
| Current investments | 50/53 | €2,045 | €7,248 | +€5,204 | +254% |
| Cash at bank and in hand | 54/58 | €34,296 | €29,733 | -€4,563 | -13.3% |
| Deferred charges and accrued income | 490/1 | €2,208 | €2,019 | -€188 | -8.5% |
| Total equity and liabilities | 10/49 | €165,338 | €185,862 | +€20,524 | +12.4% |
| Equity | 10/15 | €142,374 | €110,478 | -€31,897 | -22.4% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €105,978 | €105,978 | = | 0.0% |
| Distributable reserves | 133 | €105,978 | €105,978 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,897 | - | -€31,897 | |
| Amounts payable | 17/49 | €22,963 | €75,384 | +€52,421 | +228% |
| Amounts payable after more than one year | 17 | €11,951 | €5,007 | -€6,945 | -58.1% |
| Financial debts | 170/4 | €11,951 | €5,007 | -€6,945 | -58.1% |
| Amounts payable within one year | 42/48 | €10,646 | €70,378 | +€59,732 | +561% |
| Financial debts | 43 | €5,674 | €6,439 | +€765 | +13.5% |
| Credit institutions | 430/8 | €5,674 | €6,439 | +€765 | +13.5% |
| Trade debts | 44 | €4,122 | €13,867 | +€9,746 | +236% |
| Suppliers | 440/4 | €4,122 | €13,867 | +€9,746 | +236% |
| Taxes, remuneration and social security | 45 | - | €7,372 | +€7,372 | |
| Taxes | 450/3 | - | €7,372 | +€7,372 | |
| Other amounts payable | 47/48 | €850 | €42,699 | +€41,849 | +4,923% |
| Accrued charges and deferred income | 492/3 | €366 | - | -€366 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,187 | €12,618 | +€3,431 | +37.3% |
| Other operating charges | 640/8 | €1,263 | €848 | -€415 | -32.8% |
| Gross operating margin | 9900 | €67,767 | €36,649 | -€31,118 | -45.9% |
| Operating profit (loss) | 9901 | €57,317 | €23,183 | -€34,135 | -59.6% |
| Financial income | 75/76B | €469 | €319 | -€150 | -32.0% |
| Recurring financial income | 75 | €469 | €319 | -€150 | -32.0% |
| Financial charges | 65/66B | €953 | €876 | -€77 | -8.1% |
| Recurring financial charges | 65 | €953 | €876 | -€77 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €56,834 | €22,626 | -€34,208 | -60.2% |
| Income taxes | 67/77 | €15,932 | €5,378 | -€10,554 | -66.2% |
| Profit (loss) for the period | 9904 | €40,902 | €17,248 | -€23,654 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,902 | €17,248 | -€23,654 | -57.8% |
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 17 October 2026 via checked.be.