Sorelko: 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.
Sorelko
Largest movements
- Receivables within one year +€40,391
up €40,391 (+100.8%), from €40,086 to €80,477
of which Trade receivables: +€42,082
- Tangible fixed assets -€34,071
down €34,071 (-6.7%), from €507,507 to €473,436
of which Plant, machinery and equipment: -€19,346
- Cash -€12,439
down €12,439 (-44.2%), from €28,127 to €15,687
mainly Debts after one year (-€65,593) and Receivables within one year (-€40,391)
- Intangible fixed assets -€10,000
down €10,000 (-19.5%), from €51,205 to €41,205
- Debts after one year -€65,593
down €65,593 (-16.7%), from €392,865 to €327,271
- Reserves +€43,392
up €43,392 (+70.1%), from €61,867 to €105,260
- Tax, wage and social debts +€16,842
up €16,842 (+227.3%), from €7,409 to €24,251
of which Taxes: +€12,357
- Other debts -€14,787
down €14,787 (-21.6%), from €68,448 to €53,661
- Trade debts +€9,473
up €9,473 (+47.8%), from €19,802 to €29,275
- Gross operating margin +€38,031
up €38,031 (+26.2%), from €145,192 to €183,223
- Staff costs +€25,942
up €25,942 (+132.7%), from €19,555 to €45,497
- Taxes +€6,072
up €6,072 (+44.5%), from €13,644 to €19,716
- Financial charges +€3,533
up €3,533 (+36.3%), from €9,737 to €13,270
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 | €634,440 | €618,602 | -€15,838 | -2.5% |
| Fixed assets | 21/28 | €558,713 | €514,642 | -€44,071 | -7.9% |
| Intangible fixed assets | 21 | €51,205 | €41,205 | -€10,000 | -19.5% |
| Tangible fixed assets | 22/27 | €507,507 | €473,436 | -€34,071 | -6.7% |
| Land and buildings | 22 | €248,806 | €237,245 | -€11,562 | -4.6% |
| Plant, machinery and equipment | 23 | €237,664 | €218,318 | -€19,346 | -8.1% |
| Furniture and vehicles | 24 | €1,061 | €2,554 | +€1,493 | +140.6% |
| Leasing and similar rights | 25 | €19,975 | €15,319 | -€4,656 | -23.3% |
| Current assets | 29/58 | €75,727 | €103,960 | +€28,233 | +37.3% |
| Stocks and contracts in progress | 3 | €7,419 | €7,430 | +€10 | +0.1% |
| Stocks | 30/36 | €7,419 | €7,430 | +€10 | +0.1% |
| Amounts receivable within one year | 40/41 | €40,086 | €80,477 | +€40,391 | +100.8% |
| Trade receivables | 40 | €38,393 | €80,475 | +€42,082 | +109.6% |
| Other amounts receivable | 41 | €1,693 | €2 | -€1,691 | -99.9% |
| Cash at bank and in hand | 54/58 | €28,127 | €15,687 | -€12,439 | -44.2% |
| Deferred charges and accrued income | 490/1 | €95 | €366 | +€271 | +285.6% |
| Total equity and liabilities | 10/49 | €634,440 | €618,602 | -€15,838 | -2.5% |
| Equity | 10/15 | €73,635 | €110,260 | +€36,625 | +49.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €61,867 | €105,260 | +€43,392 | +70.1% |
| Distributable reserves | 133 | €61,867 | €105,260 | +€43,392 | +70.1% |
| Profit (loss) carried forward | 14 | €6,768 | €0 | -€6,768 | -100.0% |
| Amounts payable | 17/49 | €560,805 | €508,343 | -€52,462 | -9.4% |
| Amounts payable after more than one year | 17 | €392,865 | €327,271 | -€65,593 | -16.7% |
| Financial debts | 170/4 | €392,865 | €327,271 | -€65,593 | -16.7% |
| Amounts payable within one year | 42/48 | €167,940 | €181,071 | +€13,131 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €72,281 | €73,884 | +€1,603 | +2.2% |
| Trade debts | 44 | €19,802 | €29,275 | +€9,473 | +47.8% |
| Suppliers | 440/4 | €19,802 | €29,275 | +€9,473 | +47.8% |
| Taxes, remuneration and social security | 45 | €7,409 | €24,251 | +€16,842 | +227.3% |
| Taxes | 450/3 | €3,798 | €16,155 | +€12,357 | +325.4% |
| Remuneration and social security | 454/9 | €3,611 | €8,096 | +€4,485 | +124.2% |
| Other amounts payable | 47/48 | €68,448 | €53,661 | -€14,787 | -21.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €9,747 | €0 | -€9,747 | -100.0% |
| Remuneration, social security and pensions | 62 | €19,555 | €45,497 | +€25,942 | +132.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,784 | €62,993 | +€1,209 | +2.0% |
| Other operating charges | 640/8 | €4,159 | €3,462 | -€697 | -16.8% |
| Gross operating margin | 9900 | €145,192 | €183,223 | +€38,031 | +26.2% |
| Operating profit (loss) | 9901 | €59,694 | €71,272 | +€11,577 | +19.4% |
| Financial income | 75/76B | €12 | €5 | -€7 | -59.1% |
| Recurring financial income | 75 | €12 | €5 | -€7 | -59.1% |
| Financial charges | 65/66B | €9,737 | €13,270 | +€3,533 | +36.3% |
| Recurring financial charges | 65 | €9,737 | €13,270 | +€3,533 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €49,970 | €58,007 | +€8,037 | +16.1% |
| Income taxes | 67/77 | €13,644 | €19,716 | +€6,072 | +44.5% |
| Profit (loss) for the period | 9904 | €36,326 | €38,291 | +€1,965 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,326 | €38,291 | +€1,965 | +5.4% |
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 7 October 2026 via checked.be.