SOLWIN: 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.
SOLWIN
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Receivables after one year +€102,902
new in 2025: €102,902
- Cash +€95,446
up €95,446 (+103%), from €92,884 to €188,330
mainly Current investments (+€150,000) and Accrued charges and deferred income (+€92,054)
- Stocks and contracts +€44,213
up €44,213 (+22.9%), from €193,458 to €237,672
- Receivables within one year -€26,036
down €26,036 (-29.0%), from €89,820 to €63,783
of which Trade receivables: -€17,619
- Accrued charges and deferred income +€92,054
up €92,054 (+617%), from €14,931 to €106,984
- Tax, wage and social debts -€58,891
down €58,891 (-98.0%), from €60,099 to €1,208
of which Taxes: -€58,289
- Debts after one year -€22,554
down €22,554 (-8.9%), from €253,730 to €231,176
of which Financial debts: -€21,694
- Trade debts +€14,104
up €14,104 (+10.1%), from €139,336 to €153,440
- Current portion of long-term debt +€11,727
up €11,727 (+22.7%), from €51,680 to €63,407
- Gross operating margin +€43,359
up €43,359 (+22.4%), from €193,532 to €236,890
- Staff costs +€3,612
up €3,612 (+2.4%), from €147,623 to €151,235
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 | €781,002 | €827,996 | +€46,994 | +6.0% |
| Fixed assets | 21/28 | €247,607 | €230,435 | -€17,172 | -6.9% |
| Intangible fixed assets | 21 | €6,397 | €4,565 | -€1,832 | -28.6% |
| Tangible fixed assets | 22/27 | €239,071 | €221,731 | -€17,340 | -7.3% |
| Land and buildings | 22 | €190,304 | €162,314 | -€27,990 | -14.7% |
| Plant, machinery and equipment | 23 | €23,341 | €16,078 | -€7,264 | -31.1% |
| Furniture and vehicles | 24 | €25,426 | €3,971 | -€21,455 | -84.4% |
| Leasing and similar rights | 25 | - | €39,370 | +€39,370 | |
| Financial fixed assets | 28 | €2,139 | €4,139 | +€2,000 | +93.5% |
| Current assets | 29/58 | €533,395 | €597,561 | +€64,166 | +12.0% |
| Amounts receivable after more than one year | 29 | - | €102,902 | +€102,902 | |
| Other amounts receivable | 291 | - | €102,902 | +€102,902 | |
| Stocks and contracts in progress | 3 | €193,458 | €237,672 | +€44,213 | +22.9% |
| Stocks | 30/36 | €193,458 | €237,672 | +€44,213 | +22.9% |
| Amounts receivable within one year | 40/41 | €89,820 | €63,783 | -€26,036 | -29.0% |
| Trade receivables | 40 | €80,343 | €62,724 | -€17,619 | -21.9% |
| Other amounts receivable | 41 | €9,477 | €1,060 | -€8,417 | -88.8% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €92,884 | €188,330 | +€95,446 | +103% |
| Deferred charges and accrued income | 490/1 | €7,233 | €4,874 | -€2,359 | -32.6% |
| Total equity and liabilities | 10/49 | €781,002 | €827,996 | +€46,994 | +6.0% |
| Equity | 10/15 | €261,117 | €271,683 | +€10,567 | +4.0% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,117 | €161,683 | +€10,567 | +7.0% |
| Amounts payable | 17/49 | €519,885 | €556,313 | +€36,428 | +7.0% |
| Amounts payable after more than one year | 17 | €253,730 | €231,176 | -€22,554 | -8.9% |
| Financial debts | 170/4 | €252,870 | €231,176 | -€21,694 | -8.6% |
| Other amounts payable | 178/9 | €860 | - | -€860 | |
| Amounts payable within one year | 42/48 | €251,225 | €218,153 | -€33,072 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €51,680 | €63,407 | +€11,727 | +22.7% |
| Trade debts | 44 | €139,336 | €153,440 | +€14,104 | +10.1% |
| Suppliers | 440/4 | €139,336 | €153,440 | +€14,104 | +10.1% |
| Taxes, remuneration and social security | 45 | €60,099 | €1,208 | -€58,891 | -98.0% |
| Taxes | 450/3 | €59,484 | €1,195 | -€58,289 | -98.0% |
| Remuneration and social security | 454/9 | €615 | €13 | -€603 | -97.9% |
| Other amounts payable | 47/48 | €109 | €98 | -€11 | -10.1% |
| Accrued charges and deferred income | 492/3 | €14,931 | €106,984 | +€92,054 | +617% |
| Remuneration, social security and pensions | 62 | €147,623 | €151,235 | +€3,612 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,977 | €62,784 | -€193 | -0.3% |
| Other operating charges | 640/8 | €1,730 | €1,361 | -€369 | -21.3% |
| Gross operating margin | 9900 | €193,532 | €236,890 | +€43,359 | +22.4% |
| Operating profit (loss) | 9901 | -€18,798 | €21,510 | +€40,308 | |
| Financial income | 75/76B | €4,195 | €1,886 | -€2,309 | -55.0% |
| Recurring financial income | 75 | €4,195 | €1,886 | -€2,309 | -55.0% |
| Financial charges | 65/66B | €13,153 | €12,479 | -€673 | -5.1% |
| Recurring financial charges | 65 | €13,153 | €12,479 | -€673 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,755 | €10,917 | +€38,673 | |
| Income taxes | 67/77 | €330 | €351 | +€20 | +6.2% |
| Profit (loss) for the period | 9904 | -€28,086 | €10,567 | +€38,652 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,086 | €10,567 | +€38,652 |
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 15 October 2026 via checked.be.