SOREP: 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.
SOREP
Largest movements
- Cash -€49,619
down €49,619 (-76.9%), from €64,486 to €14,866
mainly Net result for the year (-€89,880) and Debts after one year (-€17,785)
- Tangible fixed assets -€40,057
down €40,057 (-86.7%), from €46,183 to €6,126
of which Furniture and vehicles: -€38,347
- Receivables within one year -€27,445
down €27,445 (-39.3%), from €69,764 to €42,319
of which Trade receivables: -€68,623
- Deferred charges and accrued income -€5,484
down €5,484 (-75.7%), from €7,242 to €1,758
- Profit (loss) carried forward -€89,880
down €89,880 (-94.1%), from €95,524 to €5,644
- Debts after one year -€17,785
down €17,785 (-100%), from €17,785 to €0
- Current portion of long-term debt -€7,594
down €7,594 (-100%), from €7,594 to €0
- Tax, wage and social debts -€4,399
down €4,399 (-23.7%), from €18,576 to €14,177
of which Remuneration and social security: -€6,350
- Trade debts -€2,948
down €2,948 (-40.5%), from €7,278 to €4,330
- Turnover -€369,632
down €369,632 (-63.3%), from €584,116 to €214,484
- Gross operating margin -€236,428
down €236,428 (-76.5%), from €309,198 to €72,770
- Purchases and services -€168,198
down €168,198 (-50.7%), from €331,677 to €163,479
- Staff costs -€89,278
down €89,278 (-36.6%), from €243,668 to €154,390
- Taxes -€14,276
down €14,276 (-99.2%), from €14,398 to €122
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 | €191,160 | €68,554 | -€122,606 | -64.1% |
| Fixed assets | 21/28 | €49,667 | €9,610 | -€40,057 | -80.7% |
| Tangible fixed assets | 22/27 | €46,183 | €6,126 | -€40,057 | -86.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €2,365 | €1,537 | -€829 | -35.0% |
| Furniture and vehicles | 24 | €39,097 | €750 | -€38,347 | -98.1% |
| Other tangible fixed assets | 26 | €4,721 | €3,839 | -€882 | -18.7% |
| Financial fixed assets | 28 | €3,485 | €3,485 | = | 0.0% |
| Current assets | 29/58 | €141,492 | €58,943 | -€82,549 | -58.3% |
| Amounts receivable within one year | 40/41 | €69,764 | €42,319 | -€27,445 | -39.3% |
| Trade receivables | 40 | €68,623 | €0 | -€68,623 | -100% |
| Other amounts receivable | 41 | €1,141 | €42,319 | +€41,178 | +3,609% |
| Cash at bank and in hand | 54/58 | €64,486 | €14,866 | -€49,619 | -76.9% |
| Deferred charges and accrued income | 490/1 | €7,242 | €1,758 | -€5,484 | -75.7% |
| Total equity and liabilities | 10/49 | €191,160 | €68,554 | -€122,606 | -64.1% |
| Equity | 10/15 | €139,927 | €50,046 | -€89,880 | -64.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €32,003 | €32,003 | = | 0.0% |
| Distributable reserves | 133 | €32,003 | €32,003 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,524 | €5,644 | -€89,880 | -94.1% |
| Amounts payable | 17/49 | €51,233 | €18,507 | -€32,726 | -63.9% |
| Amounts payable after more than one year | 17 | €17,785 | €0 | -€17,785 | -100% |
| Financial debts | 170/4 | €17,785 | €0 | -€17,785 | -100% |
| Amounts payable within one year | 42/48 | €33,448 | €18,507 | -€14,941 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €7,594 | €0 | -€7,594 | -100% |
| Trade debts | 44 | €7,278 | €4,330 | -€2,948 | -40.5% |
| Suppliers | 440/4 | €7,278 | €4,330 | -€2,948 | -40.5% |
| Taxes, remuneration and social security | 45 | €18,576 | €14,177 | -€4,399 | -23.7% |
| Taxes | 450/3 | €10,308 | €12,259 | +€1,951 | +18.9% |
| Remuneration and social security | 454/9 | €8,268 | €1,919 | -€6,350 | -76.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Turnover | 70 | €584,116 | €214,484 | -€369,632 | -63.3% |
| Non-recurring operating income | 76A | €22,624 | - | -€22,624 | |
| Goods, raw materials, services and sundry goods | 60/61 | €331,677 | €163,479 | -€168,198 | -50.7% |
| Remuneration, social security and pensions | 62 | €243,668 | €154,390 | -€89,278 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,368 | €2,759 | -€11,610 | -80.8% |
| Other operating charges | 640/8 | €3,117 | €2,382 | -€735 | -23.6% |
| Non-recurring operating charges | 66A | €19 | - | -€19 | |
| Gross operating margin | 9900 | €309,198 | €72,770 | -€236,428 | -76.5% |
| Operating profit (loss) | 9901 | €48,026 | -€86,761 | -€134,786 | |
| Financial income | 75/76B | €2,724 | €1,474 | -€1,250 | -45.9% |
| Recurring financial income | 75 | €2,724 | €1,435 | -€1,289 | -47.3% |
| Non-recurring financial income | 76B | - | €40 | +€40 | |
| Financial charges | 65/66B | €6,209 | €4,472 | -€1,737 | -28.0% |
| Recurring financial charges | 65 | €6,209 | €2,287 | -€3,922 | -63.2% |
| Non-recurring financial charges | 66B | - | €2,185 | +€2,185 | |
| Profit (loss) for the period before taxes | 9903 | €44,541 | -€89,758 | -€134,299 | |
| Income taxes | 67/77 | €14,398 | €122 | -€14,276 | -99.2% |
| Profit (loss) for the period | 9904 | €30,143 | -€89,880 | -€120,023 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,143 | -€89,880 | -€120,023 |
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 25 October 2026 via checked.be.