SORMI: 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.
SORMI
Largest movements
- Cash +€20,195
up €20,195 (+148.5%), from €13,602 to €33,797
mainly Net result for the year (+€61,408) and Depreciation (+€23,380)
- Reserves +€61,000
up €61,000 (+40.9%), from €149,000 to €210,000
- Debts after one year -€50,057
down €50,057 (-8.9%), from €563,500 to €513,443
- Tax, wage and social debts +€15,428
up €15,428 (+76.7%), from €20,112 to €35,540
- Other debts +€12,191
up €12,191 (+55.1%), from €22,120 to €34,311
- Gross operating margin -€58,715
down €58,715 (-29.3%), from €200,387 to €141,672
- Taxes +€8,063
up €8,063 (+54.9%), from €14,687 to €22,750
- Financial charges -€7,287
down €7,287 (-20.8%), from €35,030 to €27,743
- Depreciation +€6,936
up €6,936 (+42.2%), from €16,444 to €23,380
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 | €971,699 | €1,007,337 | +€35,638 | +3.7% |
| Fixed assets | 21/28 | €922,982 | €929,111 | +€6,129 | +0.7% |
| Tangible fixed assets | 22/27 | €382,982 | €385,711 | +€2,729 | +0.7% |
| Land and buildings | 22 | €354,386 | €344,735 | -€9,651 | -2.7% |
| Plant, machinery and equipment | 23 | €1,208 | €19,214 | +€18,006 | +1490.6% |
| Furniture and vehicles | 24 | €26,118 | €20,831 | -€5,287 | -20.2% |
| Other tangible fixed assets | 26 | €1,270 | €931 | -€339 | -26.7% |
| Financial fixed assets | 28 | €540,000 | €543,400 | +€3,400 | +0.6% |
| Current assets | 29/58 | €48,717 | €78,226 | +€29,509 | +60.6% |
| Amounts receivable within one year | 40/41 | €31,885 | €38,409 | +€6,524 | +20.5% |
| Trade receivables | 40 | €31,885 | €38,081 | +€6,196 | +19.4% |
| Other amounts receivable | 41 | - | €328 | +€328 | |
| Current investments | 50/53 | - | €3,831 | +€3,831 | |
| Cash at bank and in hand | 54/58 | €13,602 | €33,797 | +€20,195 | +148.5% |
| Deferred charges and accrued income | 490/1 | €3,230 | €2,189 | -€1,041 | -32.2% |
| Total equity and liabilities | 10/49 | €971,699 | €1,007,337 | +€35,638 | +3.7% |
| Equity | 10/15 | €293,312 | €354,720 | +€61,408 | +20.9% |
| Contributions | 10/11 | €6,490 | €6,490 | = | 0.0% |
| Reserves | 13 | €149,000 | €210,000 | +€61,000 | +40.9% |
| Distributable reserves | 133 | €149,000 | €210,000 | +€61,000 | +40.9% |
| Profit (loss) carried forward | 14 | €137,822 | €138,230 | +€408 | +0.3% |
| Amounts payable | 17/49 | €678,387 | €652,617 | -€25,770 | -3.8% |
| Amounts payable after more than one year | 17 | €563,500 | €513,443 | -€50,057 | -8.9% |
| Financial debts | 170/4 | €563,500 | €513,443 | -€50,057 | -8.9% |
| Amounts payable within one year | 42/48 | €113,834 | €135,880 | +€22,046 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €60,522 | €64,704 | +€4,182 | +6.9% |
| Trade debts | 44 | €11,080 | €1,325 | -€9,755 | -88.0% |
| Suppliers | 440/4 | €11,080 | €1,325 | -€9,755 | -88.0% |
| Taxes, remuneration and social security | 45 | €20,112 | €35,540 | +€15,428 | +76.7% |
| Taxes | 450/3 | €20,112 | €35,540 | +€15,428 | +76.7% |
| Other amounts payable | 47/48 | €22,120 | €34,311 | +€12,191 | +55.1% |
| Accrued charges and deferred income | 492/3 | €1,053 | €3,294 | +€2,241 | +212.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,444 | €23,380 | +€6,936 | +42.2% |
| Other operating charges | 640/8 | €6,062 | €6,442 | +€380 | +6.3% |
| Gross operating margin | 9900 | €200,387 | €141,672 | -€58,715 | -29.3% |
| Operating profit (loss) | 9901 | €177,881 | €111,850 | -€66,031 | -37.1% |
| Financial income | 75/76B | - | €51 | +€51 | |
| Recurring financial income | 75 | - | €51 | +€51 | |
| Financial charges | 65/66B | €35,030 | €27,743 | -€7,287 | -20.8% |
| Recurring financial charges | 65 | €35,030 | €27,743 | -€7,287 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €142,851 | €84,158 | -€58,693 | -41.1% |
| Income taxes | 67/77 | €14,687 | €22,750 | +€8,063 | +54.9% |
| Profit (loss) for the period | 9904 | €128,164 | €61,408 | -€66,756 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €128,164 | €61,408 | -€66,756 | -52.1% |
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 8 October 2026 via checked.be.