SONAAR: 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.
SONAAR
Largest movements
- Intangible fixed assets +€209,655
up €209,655 (+287.3%), from €72,965 to €282,620
- Receivables within one year +€63,358
up €63,358 (+59.4%), from €106,742 to €170,100
of which Trade receivables: +€65,610
- Cash -€62,060
down €62,060 (-35.2%), from €176,297 to €114,236
mainly Investment in fixed assets (net) (-€265,719) and Net result for the year (-€67,408)
- Investment grants +€118,750
up €118,750 (+161.7%), from €73,438 to €192,188
- Accrued charges and deferred income +€94,213
up €94,213 (+173.8%), from €54,198 to €148,410
- Profit (loss) carried forward -€67,408
down €67,408 (-69.8%), from -€96,584 to -€163,992
- Provisions +€39,583
up €39,583 (+161.7%), from €24,479 to €64,063
- Tax, wage and social debts +€20,397
up €20,397 (+1120.7%), from €1,820 to €22,217
of which Remuneration and social security: +€17,608
- Gross operating margin +€163,163
up €163,163, from -€36,643 to €126,520
- Staff costs +€127,934
up €127,934 (+455.3%), from €28,098 to €156,032
- Depreciation +€44,976
up €44,976 (+469.0%), from €9,590 to €54,566
- Financial income +€29,688
up €29,688 (+1900.0%), from €1,563 to €31,250
- Financial charges +€3,199
up €3,199 (+15.0%), from €21,365 to €24,564
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 | €365,129 | €579,757 | +€214,628 | +58.8% |
| Fixed assets | 21/28 | €80,022 | €291,175 | +€211,153 | +263.9% |
| Intangible fixed assets | 21 | €72,965 | €282,620 | +€209,655 | +287.3% |
| Tangible fixed assets | 22/27 | €2,506 | €4,305 | +€1,799 | +71.8% |
| Furniture and vehicles | 24 | €2,506 | €4,305 | +€1,799 | +71.8% |
| Financial fixed assets | 28 | €4,550 | €4,250 | -€300 | -6.6% |
| Current assets | 29/58 | €285,108 | €288,582 | +€3,474 | +1.2% |
| Amounts receivable within one year | 40/41 | €106,742 | €170,100 | +€63,358 | +59.4% |
| Trade receivables | 40 | €4,427 | €70,037 | +€65,610 | +1482.2% |
| Other amounts receivable | 41 | €102,315 | €100,063 | -€2,252 | -2.2% |
| Cash at bank and in hand | 54/58 | €176,297 | €114,236 | -€62,060 | -35.2% |
| Deferred charges and accrued income | 490/1 | €2,069 | €4,246 | +€2,177 | +105.2% |
| Total equity and liabilities | 10/49 | €365,129 | €579,757 | +€214,628 | +58.8% |
| Equity | 10/15 | -€18,147 | €33,195 | +€51,342 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,584 | -€163,992 | -€67,408 | -69.8% |
| Investment grants | 15 | €73,438 | €192,188 | +€118,750 | +161.7% |
| Provisions and deferred taxes | 16 | €24,479 | €64,063 | +€39,583 | +161.7% |
| Deferred taxes | 168 | €24,479 | €64,063 | +€39,583 | +161.7% |
| Amounts payable | 17/49 | €358,797 | €482,499 | +€123,702 | +34.5% |
| Amounts payable after more than one year | 17 | €300,000 | €300,000 | = | 0.0% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,599 | €34,089 | +€29,490 | +641.2% |
| Trade debts | 44 | €2,630 | €11,841 | +€9,211 | +350.3% |
| Suppliers | 440/4 | €2,630 | €11,841 | +€9,211 | +350.3% |
| Taxes, remuneration and social security | 45 | €1,820 | €22,217 | +€20,397 | +1120.7% |
| Taxes | 450/3 | - | €2,788 | +€2,788 | |
| Remuneration and social security | 454/9 | €1,820 | €19,428 | +€17,608 | +967.5% |
| Other amounts payable | 47/48 | €150 | €32 | -€118 | -78.8% |
| Accrued charges and deferred income | 492/3 | €54,198 | €148,410 | +€94,213 | +173.8% |
| Remuneration, social security and pensions | 62 | €28,098 | €156,032 | +€127,934 | +455.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,590 | €54,566 | +€44,976 | +469.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,200 | €0 | -€2,200 | -100.0% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | -€36,643 | €126,520 | +€163,163 | |
| Operating profit (loss) | 9901 | -€77,303 | -€84,477 | -€7,174 | -9.3% |
| Financial income | 75/76B | €1,563 | €31,250 | +€29,688 | +1900.0% |
| Recurring financial income | 75 | €1,563 | €31,250 | +€29,688 | +1900.0% |
| Financial charges | 65/66B | €21,365 | €24,564 | +€3,199 | +15.0% |
| Recurring financial charges | 65 | €21,365 | €24,564 | +€3,199 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | -€97,105 | -€77,791 | +€19,314 | +19.9% |
| Transfer from deferred taxes | 780 | €521 | €10,417 | +€9,896 | +1900.0% |
| Income taxes | 67/77 | - | €33 | +€33 | |
| Profit (loss) for the period | 9904 | -€96,584 | -€67,408 | +€29,176 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,584 | -€67,408 | +€29,176 | +30.2% |
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 2 October 2026 via checked.be.