Soret: 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.
Soret
Largest movements
- Tangible fixed assets -€77,241
down €77,241 (-13.4%), from €577,506 to €500,265
of which Land and buildings: -€48,771
- Receivables within one year -€30,406
down €30,406 (-56.0%), from €54,282 to €23,876
of which Trade receivables: -€30,608
- Cash +€17,472
up €17,472 (+15.5%), from €112,641 to €130,112
mainly Depreciation (+€90,915) and Trade debts (+€83,755)
- Profit (loss) carried forward -€188,475
down €188,475 (-61.7%), from €305,273 to €116,798
- Trade debts +€83,755
up €83,755 (+79.1%), from €105,821 to €189,577
- Debts after one year -€26,788
down €26,788 (-22.2%), from €120,670 to €93,882
- Tax, wage and social debts +€20,679
up €20,679 (+18.4%), from €112,238 to €132,917
of which Taxes: +€11,334
- Current portion of long-term debt +€17,590
up €17,590 (+54.1%), from €32,486 to €50,076
- Gross operating margin -€121,938
down €121,938 (-11.8%), from €1.0m to €908,933
- Depreciation -€47,721
down €47,721 (-34.4%), from €138,636 to €90,915
- Staff costs -€15,075
down €15,075 (-1.5%), from €1.0m to €985,847
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €772,750 | €681,535 | -€91,215 | -11.8% |
| Fixed assets | 21/28 | €577,506 | €500,265 | -€77,241 | -13.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €577,506 | €500,265 | -€77,241 | -13.4% |
| Land and buildings | 22 | €393,718 | €344,947 | -€48,771 | -12.4% |
| Plant, machinery and equipment | 23 | €182,469 | €146,982 | -€35,487 | -19.4% |
| Furniture and vehicles | 24 | €1,319 | €8,336 | +€7,017 | +532.0% |
| Current assets | 29/58 | €195,245 | €181,271 | -€13,974 | -7.2% |
| Stocks and contracts in progress | 3 | €25,244 | €19,475 | -€5,769 | -22.9% |
| Stocks | 30/36 | €25,244 | €19,475 | -€5,769 | -22.9% |
| Amounts receivable within one year | 40/41 | €54,282 | €23,876 | -€30,406 | -56.0% |
| Trade receivables | 40 | €53,697 | €23,089 | -€30,608 | -57.0% |
| Other amounts receivable | 41 | €586 | €787 | +€201 | +34.4% |
| Cash at bank and in hand | 54/58 | €112,641 | €130,112 | +€17,472 | +15.5% |
| Deferred charges and accrued income | 490/1 | €3,078 | €7,807 | +€4,729 | +153.7% |
| Total equity and liabilities | 10/49 | €772,750 | €681,535 | -€91,215 | -11.8% |
| Equity | 10/15 | €335,394 | €146,164 | -€189,230 | -56.4% |
| Contributions | 10/11 | €26,267 | €26,267 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €305,273 | €116,798 | -€188,475 | -61.7% |
| Investment grants | 15 | €755 | €0 | -€755 | -100.0% |
| Provisions and deferred taxes | 16 | €389 | €0 | -€389 | -100.0% |
| Deferred taxes | 168 | €389 | €0 | -€389 | -100.0% |
| Amounts payable | 17/49 | €436,968 | €535,372 | +€98,404 | +22.5% |
| Amounts payable after more than one year | 17 | €120,670 | €93,882 | -€26,788 | -22.2% |
| Financial debts | 170/4 | €120,670 | €93,882 | -€26,788 | -22.2% |
| Amounts payable within one year | 42/48 | €316,298 | €441,490 | +€125,191 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €32,486 | €50,076 | +€17,590 | +54.1% |
| Trade debts | 44 | €105,821 | €189,577 | +€83,755 | +79.1% |
| Suppliers | 440/4 | €105,821 | €189,577 | +€83,755 | +79.1% |
| Taxes, remuneration and social security | 45 | €112,238 | €132,917 | +€20,679 | +18.4% |
| Taxes | 450/3 | €18,226 | €29,560 | +€11,334 | +62.2% |
| Remuneration and social security | 454/9 | €94,012 | €103,357 | +€9,345 | +9.9% |
| Other amounts payable | 47/48 | €65,753 | €68,920 | +€3,167 | +4.8% |
| Remuneration, social security and pensions | 62 | €1,000,921 | €985,847 | -€15,075 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,636 | €90,915 | -€47,721 | -34.4% |
| Other operating charges | 640/8 | €21,382 | €21,303 | -€78 | -0.4% |
| Gross operating margin | 9900 | €1,030,871 | €908,933 | -€121,938 | -11.8% |
| Operating profit (loss) | 9901 | -€130,068 | -€189,131 | -€59,064 | -45.4% |
| Financial income | 75/76B | €8,513 | €7,401 | -€1,112 | -13.1% |
| Recurring financial income | 75 | €8,513 | €7,401 | -€1,112 | -13.1% |
| Financial charges | 65/66B | €6,673 | €7,134 | +€460 | +6.9% |
| Recurring financial charges | 65 | €6,673 | €7,134 | +€460 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€128,227 | -€188,864 | -€60,636 | -47.3% |
| Transfer from deferred taxes | 780 | €1,110 | €389 | -€722 | -65.0% |
| Income taxes | 67/77 | €2 | €0 | -€2 | -99.4% |
| Profit (loss) for the period | 9904 | -€127,119 | -€188,475 | -€61,356 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€127,119 | -€188,475 | -€61,356 | -48.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.