Somerset Projects: what changed
Two fiscal 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.
Somerset Projects
Largest movements
- Cash +€116,009
up €116,009 (+103.1%), from €112,489 to €228,497
mainly Receivables within one year (+€62,644) and Net result for the year (+€43,506)
- Receivables within one year -€62,644
down €62,644 (-63.1%), from €99,298 to €36,653
of which Trade receivables: -€52,744
- Tangible fixed assets -€5,965
down €5,965 (-2.2%), from €269,913 to €263,948
of which Land and buildings: -€10,187
- Reserves +€43,506
up €43,506 (+18.3%), from €238,370 to €281,877
- Tax, wage and social debts +€16,668
up €16,668 (+92.2%), from €18,068 to €34,736
- Debts after one year -€11,677
down €11,677 (-6.8%), from €172,813 to €161,136
of which Financial debts: -€13,387
- Gross operating margin -€91,609
down €91,609 (-51.9%), from €176,501 to €84,892
- Taxes -€23,370
down €23,370 (-55.9%), from €41,810 to €18,440
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 | €481,699 | €529,514 | +€47,815 | +9.9% |
| Fixed assets | 21/28 | €269,913 | €263,948 | -€5,965 | -2.2% |
| Tangible fixed assets | 22/27 | €269,913 | €263,948 | -€5,965 | -2.2% |
| Land and buildings | 22 | €262,767 | €252,579 | -€10,187 | -3.9% |
| Plant, machinery and equipment | 23 | €1,830 | €1,043 | -€787 | -43.0% |
| Furniture and vehicles | 24 | €5,316 | €5,139 | -€177 | -3.3% |
| Other tangible fixed assets | 26 | - | €5,187 | +€5,187 | |
| Current assets | 29/58 | €211,786 | €265,566 | +€53,779 | +25.4% |
| Amounts receivable within one year | 40/41 | €99,298 | €36,653 | -€62,644 | -63.1% |
| Trade receivables | 40 | €89,298 | €36,553 | -€52,744 | -59.1% |
| Other amounts receivable | 41 | €10,000 | €100 | -€9,900 | -99.0% |
| Current investments | 50/53 | - | €415 | +€415 | |
| Cash at bank and in hand | 54/58 | €112,489 | €228,497 | +€116,009 | +103.1% |
| Total equity and liabilities | 10/49 | €481,699 | €529,514 | +€47,815 | +9.9% |
| Equity | 10/15 | €258,370 | €301,877 | +€43,506 | +16.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €238,370 | €281,877 | +€43,506 | +18.3% |
| Distributable reserves | 133 | €238,370 | €281,877 | +€43,506 | +18.3% |
| Amounts payable | 17/49 | €223,329 | €227,637 | +€4,308 | +1.9% |
| Amounts payable after more than one year | 17 | €172,813 | €161,136 | -€11,677 | -6.8% |
| Financial debts | 170/4 | €169,363 | €155,976 | -€13,387 | -7.9% |
| Other amounts payable | 178/9 | €3,450 | €5,160 | +€1,710 | +49.6% |
| Amounts payable within one year | 42/48 | €50,515 | €66,501 | +€15,986 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €13,965 | €14,262 | +€297 | +2.1% |
| Trade debts | 44 | €3,265 | €2,146 | -€1,120 | -34.3% |
| Suppliers | 440/4 | €3,265 | €2,146 | -€1,120 | -34.3% |
| Taxes, remuneration and social security | 45 | €18,068 | €34,736 | +€16,668 | +92.2% |
| Taxes | 450/3 | €18,068 | €34,736 | +€16,668 | +92.2% |
| Other amounts payable | 47/48 | €15,217 | €15,358 | +€141 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,267 | €13,347 | +€80 | +0.6% |
| Other operating charges | 640/8 | €2,702 | €3,813 | +€1,111 | +41.1% |
| Gross operating margin | 9900 | €176,501 | €84,892 | -€91,609 | -51.9% |
| Operating profit (loss) | 9901 | €160,531 | €67,732 | -€92,800 | -57.8% |
| Financial income | 75/76B | €143 | €400 | +€257 | +179.8% |
| Recurring financial income | 75 | €143 | €400 | +€257 | +179.8% |
| Financial charges | 65/66B | €6,579 | €6,186 | -€393 | -6.0% |
| Recurring financial charges | 65 | €6,579 | €6,186 | -€393 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €154,095 | €61,946 | -€92,149 | -59.8% |
| Income taxes | 67/77 | €41,810 | €18,440 | -€23,370 | -55.9% |
| Profit (loss) for the period | 9904 | €112,285 | €43,506 | -€68,779 | -61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €112,285 | €43,506 | -€68,779 | -61.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.