SOPELCO: 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.
SOPELCO
Largest movements
- Cash +€21,609
up €21,609 (+34.5%), from €62,658 to €84,268
mainly Net result for the year (+€33,052) and Depreciation (+€4,887)
- Tangible fixed assets -€4,216
down €4,216 (-76.5%), from €5,511 to €1,295
of which Furniture and vehicles: -€4,614
- Receivables within one year +€2,166
up €2,166 (+11.0%), from €19,670 to €21,836
of which Trade receivables: +€3,762
- Reserves +€36,692
up €36,692 (+129%), from €28,351 to €65,043
of which Distributable reserves: +€36,692
- Trade debts -€10,231
down €10,231 (-88.4%), from €11,579 to €1,348
- Profit (loss) carried forward -€3,641
down €3,641 (-100%), from €3,641 to €0
- Accrued charges and deferred income -€2,837
no longer reported in 2025 (was €2,837)
- Current portion of long-term debt -€1,315
down €1,315 (-33.4%), from €3,939 to €2,625
- Staff costs -€21,384
down €21,384 (-19.0%), from €112,275 to €90,891
- Financial income -€12,763
down €12,763 (-98.2%), from €12,991 to €228
of which Non-recurring financial income: -€12,923
- Gross operating margin -€10,909
down €10,909 (-7.0%), from €154,942 to €144,033
- Taxes +€5,744
up €5,744 (+77.3%), from €7,428 to €13,172
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 | €89,431 | €108,419 | +€18,988 | +21.2% |
| Fixed assets | 21/28 | €5,511 | €1,295 | -€4,216 | -76.5% |
| Tangible fixed assets | 22/27 | €5,511 | €1,295 | -€4,216 | -76.5% |
| Land and buildings | 22 | €217 | €12 | -€205 | -94.5% |
| Plant, machinery and equipment | 23 | - | €603 | +€603 | |
| Furniture and vehicles | 24 | €5,294 | €681 | -€4,614 | -87.1% |
| Current assets | 29/58 | €83,920 | €107,124 | +€23,203 | +27.6% |
| Amounts receivable within one year | 40/41 | €19,670 | €21,836 | +€2,166 | +11.0% |
| Trade receivables | 40 | €18,047 | €21,809 | +€3,762 | +20.8% |
| Other amounts receivable | 41 | €1,623 | €27 | -€1,596 | -98.4% |
| Cash at bank and in hand | 54/58 | €62,658 | €84,268 | +€21,609 | +34.5% |
| Deferred charges and accrued income | 490/1 | €1,592 | €1,020 | -€572 | -35.9% |
| Total equity and liabilities | 10/49 | €89,431 | €108,419 | +€18,988 | +21.2% |
| Equity | 10/15 | €51,992 | €85,043 | +€33,052 | +63.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,351 | €65,043 | +€36,692 | +129% |
| Tax-exempt reserves | 132 | €3,267 | €3,267 | = | 0.0% |
| Distributable reserves | 133 | €25,084 | €61,777 | +€36,692 | +146% |
| Profit (loss) carried forward | 14 | €3,641 | €0 | -€3,641 | -100% |
| Amounts payable | 17/49 | €37,440 | €23,376 | -€14,064 | -37.6% |
| Amounts payable within one year | 42/48 | €34,602 | €23,376 | -€11,227 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €3,939 | €2,625 | -€1,315 | -33.4% |
| Financial debts | 43 | - | €60 | +€60 | |
| Credit institutions | 430/8 | - | €60 | +€60 | |
| Trade debts | 44 | €11,579 | €1,348 | -€10,231 | -88.4% |
| Suppliers | 440/4 | €11,579 | €1,348 | -€10,231 | -88.4% |
| Taxes, remuneration and social security | 45 | €12,810 | €12,649 | -€161 | -1.3% |
| Taxes | 450/3 | €4,907 | €8,705 | +€3,798 | +77.4% |
| Remuneration and social security | 454/9 | €7,903 | €3,944 | -€3,959 | -50.1% |
| Other amounts payable | 47/48 | €6,274 | €6,693 | +€419 | +6.7% |
| Accrued charges and deferred income | 492/3 | €2,837 | - | -€2,837 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €112,275 | €90,891 | -€21,384 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,568 | €4,887 | -€681 | -12.2% |
| Other operating charges | 640/8 | €440 | €515 | +€74 | +16.9% |
| Gross operating margin | 9900 | €154,942 | €144,033 | -€10,909 | -7.0% |
| Operating profit (loss) | 9901 | €36,659 | €47,741 | +€11,082 | +30.2% |
| Financial income | 75/76B | €12,991 | €228 | -€12,763 | -98.2% |
| Recurring financial income | 75 | €68 | €228 | +€160 | +235% |
| Non-recurring financial income | 76B | €12,923 | - | -€12,923 | |
| Financial charges | 65/66B | €1,375 | €1,745 | +€370 | +26.9% |
| Recurring financial charges | 65 | €1,375 | €1,745 | +€370 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €48,275 | €46,224 | -€2,051 | -4.2% |
| Income taxes | 67/77 | €7,428 | €13,172 | +€5,744 | +77.3% |
| Profit (loss) for the period | 9904 | €40,847 | €33,052 | -€7,796 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,847 | €33,052 | -€7,796 | -19.1% |
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 24 October 2026 via checked.be.