SONO PROJECTS: 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.
SONO PROJECTS
Largest movements
- Tangible fixed assets +€500,727
up €500,727 (+7.2%), from €7.0m to €7.5m
of which Land and buildings: +€501,040
- Stocks and contracts -€499,404
down €499,404 (-62.2%), from €802,521 to €303,116
- Other debts -€286,168
down €286,168 (-13.0%), from €2.2m to €1.9m
- Short-term financial debts -€250,000
down €250,000 (-100%), from €250,000 to €0
- Debts after one year +€230,992
up €230,992 (+26.3%), from €879,744 to €1.1m
- Reserves +€187,743
up €187,743 (+9.6%), from €1.9m to €2.1m
of which Distributable reserves: +€209,489
- Trade debts +€99,508
up €99,508 (+15,743%), from €632 to €100,140
- Gross operating margin +€166,842
up €166,842 (+32.8%), from €508,594 to €675,436
- Depreciation +€59,019
up €59,019 (+26.8%), from €220,018 to €279,037
- Financial charges +€41,861
up €41,861 (+36.5%), from €114,737 to €156,598
- Taxes +€27,080
up €27,080, from -€7,136 to €19,944
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 | €7,830,019 | €7,821,227 | -€8,793 | -0.1% |
| Fixed assets | 21/28 | €6,989,566 | €7,490,045 | +€500,479 | +7.2% |
| Tangible fixed assets | 22/27 | €6,989,318 | €7,490,045 | +€500,727 | +7.2% |
| Land and buildings | 22 | €6,989,005 | €7,490,045 | +€501,040 | +7.2% |
| Furniture and vehicles | 24 | €313 | €0 | -€313 | -100% |
| Financial fixed assets | 28 | €248 | €0 | -€248 | -100% |
| Current assets | 29/58 | €840,453 | €331,182 | -€509,272 | -60.6% |
| Stocks and contracts in progress | 3 | €802,521 | €303,116 | -€499,404 | -62.2% |
| Stocks | 30/36 | €802,521 | €303,116 | -€499,404 | -62.2% |
| Amounts receivable within one year | 40/41 | €29,881 | €4,140 | -€25,741 | -86.1% |
| Trade receivables | 40 | €1,322 | €1,111 | -€211 | -16.0% |
| Other amounts receivable | 41 | €28,559 | €3,029 | -€25,529 | -89.4% |
| Cash at bank and in hand | 54/58 | €1,933 | €16,887 | +€14,954 | +774% |
| Deferred charges and accrued income | 490/1 | €6,119 | €7,038 | +€919 | +15.0% |
| Total equity and liabilities | 10/49 | €7,830,019 | €7,821,227 | -€8,793 | -0.1% |
| Equity | 10/15 | €4,195,814 | €4,383,557 | +€187,743 | +4.5% |
| Contributions | 10/11 | €2,250,000 | €2,250,000 | = | 0.0% |
| Reserves | 13 | €1,945,814 | €2,133,557 | +€187,743 | +9.6% |
| Tax-exempt reserves | 132 | €263,411 | €241,665 | -€21,746 | -8.3% |
| Distributable reserves | 133 | €1,682,403 | €1,891,892 | +€209,489 | +12.5% |
| Provisions and deferred taxes | 16 | €135,636 | €124,439 | -€11,197 | -8.3% |
| Deferred taxes | 168 | €135,636 | €124,439 | -€11,197 | -8.3% |
| Amounts payable | 17/49 | €3,498,569 | €3,313,231 | -€185,339 | -5.3% |
| Amounts payable after more than one year | 17 | €879,744 | €1,110,737 | +€230,992 | +26.3% |
| Financial debts | 170/4 | €879,744 | €1,110,737 | +€230,992 | +26.3% |
| Amounts payable within one year | 42/48 | €2,618,825 | €2,202,494 | -€416,331 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €140,592 | €160,836 | +€20,244 | +14.4% |
| Financial debts | 43 | €250,000 | €0 | -€250,000 | -100% |
| Credit institutions | 430/8 | €250,000 | €0 | -€250,000 | -100% |
| Trade debts | 44 | €632 | €100,140 | +€99,508 | +15,743% |
| Suppliers | 440/4 | €632 | €100,140 | +€99,508 | +15,743% |
| Advances received on contracts in progress | 46 | €50 | €0 | -€50 | -100% |
| Taxes, remuneration and social security | 45 | €30,267 | €30,402 | +€135 | +0.4% |
| Taxes | 450/3 | €30,267 | €30,402 | +€135 | +0.4% |
| Other amounts payable | 47/48 | €2,197,284 | €1,911,116 | -€286,168 | -13.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €212,177 | +€212,177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,018 | €279,037 | +€59,019 | +26.8% |
| Other operating charges | 640/8 | €49,488 | €44,558 | -€4,930 | -10.0% |
| Gross operating margin | 9900 | €508,594 | €675,436 | +€166,842 | +32.8% |
| Operating profit (loss) | 9901 | €239,088 | €351,841 | +€112,753 | +47.2% |
| Financial income | 75/76B | €4,738 | €1,246 | -€3,492 | -73.7% |
| Recurring financial income | 75 | €4,738 | €1,246 | -€3,492 | -73.7% |
| Financial charges | 65/66B | €114,737 | €156,598 | +€41,861 | +36.5% |
| Recurring financial charges | 65 | €114,737 | €156,598 | +€41,861 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €129,090 | €196,490 | +€67,400 | +52.2% |
| Transfer from deferred taxes | 780 | €11,351 | €11,197 | -€153 | -1.3% |
| Income taxes | 67/77 | -€7,136 | €19,944 | +€27,080 | |
| Profit (loss) for the period | 9904 | €147,576 | €187,743 | +€40,167 | +27.2% |
| Transfer from tax-exempt reserves | 789 | €22,043 | €21,746 | -€298 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €169,620 | €209,489 | +€39,869 | +23.5% |
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 14 October 2026 via checked.be.