SORJAX: 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.
What changed
SORJAX
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€17,615
2024 · €29,829-€47,444
Equity
€373,331
2024 · €390,946-€17,615
Cash
€106,437
2024 · €113,687-€7,249
Balance sheet total
€910,532
2024 · €957,581-€47,049
Largest movements
Assets
- Tangible fixed assets -€41,894
down €41,894 (-5.8%), from €718,873 to €676,979
of which Land and buildings: -€41,500
Equity and liabilities
- Accrued charges and deferred income -€67,646
down €67,646 (-15.9%), from €426,095 to €358,449
- Other debts +€43,792
up €43,792 (+146%), from €29,966 to €73,758
- Profit (loss) carried forward -€17,615
down €17,615 (-25.8%), from -€68,183 to -€85,798
Income statement
- Gross operating margin -€89,304
down €89,304 (-72.3%), from €123,578 to €34,274
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.
Result 2024
€29,829
Gross operating margin
-€89,304
Depreciation
+€290
Other operating charges
+€993
Other operating items
+€38,897
Financial income
+€1,080
Financial charges
+€602
Result 2025
-€17,615
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€666
Investment
€0
Financing
-€7,915
Cash 2024
€113,687
From operations (derived)
+€666
Net result for the year
-€17,615
Depreciation
+€41,894
Receivables within one year
-€3,263
Deferred charges and accrued income
+€1,169
Trade debts
+€2,335
Other debts
+€43,792
Accrued charges and deferred income
-€67,646
Financing
-€7,915
Debts after one year
-€8,023
Current portion of long-term debt
+€107
Cash 2025
€106,437
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €957,581 | €910,532 | -€47,049 | -4.9% |
| Fixed assets | 21/28 | €718,873 | €676,979 | -€41,894 | -5.8% |
| Tangible fixed assets | 22/27 | €718,873 | €676,979 | -€41,894 | -5.8% |
| Land and buildings | 22 | €717,559 | €676,059 | -€41,500 | -5.8% |
| Plant, machinery and equipment | 23 | €1,314 | €920 | -€394 | -30.0% |
| Current assets | 29/58 | €238,707 | €233,552 | -€5,155 | -2.2% |
| Amounts receivable within one year | 40/41 | €123,500 | €126,764 | +€3,263 | +2.6% |
| Other amounts receivable | 41 | €123,500 | €126,764 | +€3,263 | +2.6% |
| Cash at bank and in hand | 54/58 | €113,687 | €106,437 | -€7,249 | -6.4% |
| Deferred charges and accrued income | 490/1 | €1,520 | €352 | -€1,169 | -76.9% |
| Total equity and liabilities | 10/49 | €957,581 | €910,532 | -€47,049 | -4.9% |
| Equity | 10/15 | €390,946 | €373,331 | -€17,615 | -4.5% |
| Contributions | 10/11 | €456,124 | €456,124 | = | 0.0% |
| Capital | 10 | €456,124 | €456,124 | = | 0.0% |
| Issued capital | 100 | €456,124 | €456,124 | = | 0.0% |
| Reserves | 13 | €3,005 | €3,005 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,005 | €3,005 | = | 0.0% |
| Legal reserve | 130 | €3,005 | €3,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,183 | -€85,798 | -€17,615 | -25.8% |
| Amounts payable | 17/49 | €566,635 | €537,201 | -€29,434 | -5.2% |
| Amounts payable after more than one year | 17 | €90,650 | €82,627 | -€8,023 | -8.9% |
| Financial debts | 170/4 | €90,650 | €82,627 | -€8,023 | -8.9% |
| Amounts payable within one year | 42/48 | €49,890 | €96,125 | +€46,234 | +92.7% |
| Current portion of amounts payable after more than one year | 42 | €7,915 | €8,023 | +€107 | +1.4% |
| Trade debts | 44 | €12,009 | €14,344 | +€2,335 | +19.4% |
| Suppliers | 440/4 | €12,009 | €14,344 | +€2,335 | +19.4% |
| Other amounts payable | 47/48 | €29,966 | €73,758 | +€43,792 | +146% |
| Accrued charges and deferred income | 492/3 | €426,095 | €358,449 | -€67,646 | -15.9% |
| Non-recurring operating income | 76A | €41,550 | €0 | -€41,550 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,184 | €41,894 | -€290 | -0.7% |
| Other operating charges | 640/8 | €5,990 | €4,997 | -€993 | -16.6% |
| Non-recurring operating charges | 66A | €44,640 | €5,743 | -€38,897 | -87.1% |
| Gross operating margin | 9900 | €123,578 | €34,274 | -€89,304 | -72.3% |
| Operating profit (loss) | 9901 | €30,764 | -€18,361 | -€49,125 | |
| Financial income | 75/76B | €1,133 | €2,213 | +€1,080 | +95.3% |
| Recurring financial income | 75 | €1,133 | €2,213 | +€1,080 | +95.3% |
| Financial charges | 65/66B | €2,068 | €1,467 | -€602 | -29.1% |
| Recurring financial charges | 65 | €2,068 | €1,467 | -€602 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €29,829 | -€17,615 | -€47,444 | |
| Profit (loss) for the period | 9904 | €29,829 | -€17,615 | -€47,444 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,829 | -€17,615 | -€47,444 |
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 29 October 2026 via checked.be.