SOPHAX: 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.
SOPHAX
Largest movements
- Tangible fixed assets +€413,603
up €413,603 (+97.3%), from €425,041 to €838,644
of which Land and buildings: +€416,265
- Cash -€305,840
down €305,840 (-39.6%), from €772,742 to €466,902
mainly Investment in fixed assets (net) (-€521,395)
- Receivables within one year -€42,766
down €42,766 (-86.6%), from €49,410 to €6,644
of which Trade receivables: -€49,410
- Trade debts +€40,083
up €40,083 (+4,617%), from €868 to €40,951
- Reserves +€21,422
up €21,422 (+2.8%), from €771,389 to €792,810
of which Distributable reserves: +€21,422
- Depreciation +€20,346
up €20,346 (+23.3%), from €87,447 to €107,792
- Gross operating margin -€14,964
down €14,964 (-9.3%), from €161,050 to €146,085
- Taxes -€13,087
down €13,087 (-61.0%), from €21,443 to €8,356
- Financial income -€4,185
down €4,185 (-70.3%), from €5,951 to €1,767
- Other operating charges -€1,958
down €1,958 (-16.6%), from €11,797 to €9,839
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 | €1,251,620 | €1,315,900 | +€64,280 | +5.1% |
| Fixed assets | 21/28 | €425,041 | €838,644 | +€413,603 | +97.3% |
| Tangible fixed assets | 22/27 | €425,041 | €838,644 | +€413,603 | +97.3% |
| Land and buildings | 22 | €402,483 | €818,748 | +€416,265 | +103% |
| Plant, machinery and equipment | 23 | €22,558 | €19,896 | -€2,662 | -11.8% |
| Current assets | 29/58 | €826,579 | €477,257 | -€349,323 | -42.3% |
| Amounts receivable within one year | 40/41 | €49,410 | €6,644 | -€42,766 | -86.6% |
| Trade receivables | 40 | €49,410 | €0 | -€49,410 | -100% |
| Other amounts receivable | 41 | - | €6,644 | +€6,644 | |
| Current investments | 50/53 | €1,640 | €1,640 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €772,742 | €466,902 | -€305,840 | -39.6% |
| Deferred charges and accrued income | 490/1 | €2,787 | €2,070 | -€717 | -25.7% |
| Total equity and liabilities | 10/49 | €1,251,620 | €1,315,900 | +€64,280 | +5.1% |
| Equity | 10/15 | €789,989 | €811,410 | +€21,422 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €771,389 | €792,810 | +€21,422 | +2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €769,529 | €790,950 | +€21,422 | +2.8% |
| Amounts payable | 17/49 | €461,631 | €504,490 | +€42,858 | +9.3% |
| Amounts payable within one year | 42/48 | €461,631 | €504,490 | +€42,858 | +9.3% |
| Trade debts | 44 | €868 | €40,951 | +€40,083 | +4,617% |
| Suppliers | 440/4 | €868 | €40,951 | +€40,083 | +4,617% |
| Taxes, remuneration and social security | 45 | €6,443 | €6,443 | = | 0.0% |
| Taxes | 450/3 | €6,443 | €6,443 | = | 0.0% |
| Other amounts payable | 47/48 | €454,320 | €457,095 | +€2,775 | +0.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,447 | €107,792 | +€20,346 | +23.3% |
| Other operating charges | 640/8 | €11,797 | €9,839 | -€1,958 | -16.6% |
| Gross operating margin | 9900 | €161,050 | €146,085 | -€14,964 | -9.3% |
| Operating profit (loss) | 9901 | €61,806 | €28,454 | -€33,352 | -54.0% |
| Financial income | 75/76B | €5,951 | €1,767 | -€4,185 | -70.3% |
| Recurring financial income | 75 | €5,951 | €1,767 | -€4,185 | -70.3% |
| Financial charges | 65/66B | €363 | €443 | +€80 | +21.9% |
| Recurring financial charges | 65 | €363 | €443 | +€80 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €67,394 | €29,778 | -€37,616 | -55.8% |
| Income taxes | 67/77 | €21,443 | €8,356 | -€13,087 | -61.0% |
| Profit (loss) for the period | 9904 | €45,950 | €21,422 | -€24,529 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,950 | €21,422 | -€24,529 | -53.4% |
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 26 October 2026 via checked.be.