SORY: 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.
SORY
Largest movements
- Tangible fixed assets +€765,400
up €765,400 (+165.3%), from €462,947 to €1.2m
of which Leasing and similar rights: +€672,982
- Receivables within one year +€554,205
up €554,205 (+37.9%), from €1.5m to €2.0m
of which Trade receivables: +€279,546
- Cash +€219,623
up €219,623 (+78.7%), from €279,137 to €498,760
mainly Debts after one year (+€595,726) and Accrued charges and deferred income (+€453,762)
- Debts after one year +€595,726
up €595,726 (+146.0%), from €407,896 to €1.0m
- Accrued charges and deferred income +€453,762
up €453,762 (+6300.3%), from €7,202 to €460,964
- Short-term financial debts +€419,828
up €419,828 (+156.4%), from €268,505 to €688,333
- Trade debts +€179,002
up €179,002 (+28.9%), from €620,054 to €799,056
- Other debts -€137,338
down €137,338 (-58.5%), from €234,731 to €97,393
- Staff costs +€436,121
up €436,121 (+38.6%), from €1.1m to €1.6m
- Gross operating margin +€186,677
up €186,677 (+11.1%), from €1.7m to €1.9m
- Taxes -€70,654
down €70,654 (-98.1%), from €72,049 to €1,395
- Depreciation +€41,745
up €41,745 (+34.8%), from €119,841 to €161,586
- Financial charges +€40,467
up €40,467 (+176.4%), from €22,938 to €63,405
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 | €2,525,529 | €4,130,749 | +€1.6m | +63.6% |
| Fixed assets | 21/28 | €478,551 | €1,261,745 | +€783,194 | +163.7% |
| Intangible fixed assets | 21 | €9,274 | €22,388 | +€13,114 | +141.4% |
| Tangible fixed assets | 22/27 | €462,947 | €1,228,347 | +€765,400 | +165.3% |
| Land and buildings | 22 | €103,515 | €100,582 | -€2,933 | -2.8% |
| Plant, machinery and equipment | 23 | €71,747 | €144,418 | +€72,671 | +101.3% |
| Furniture and vehicles | 24 | €125,871 | €108,621 | -€17,250 | -13.7% |
| Leasing and similar rights | 25 | €161,813 | €834,796 | +€672,982 | +415.9% |
| Other tangible fixed assets | 26 | - | €39,930 | +€39,930 | |
| Financial fixed assets | 28 | €6,330 | €11,010 | +€4,680 | +73.9% |
| Current assets | 29/58 | €2,046,978 | €2,869,004 | +€822,026 | +40.2% |
| Stocks and contracts in progress | 3 | €272,154 | €283,146 | +€10,992 | +4.0% |
| Stocks | 30/36 | €272,154 | €283,146 | +€10,992 | +4.0% |
| Amounts receivable within one year | 40/41 | €1,463,274 | €2,017,479 | +€554,205 | +37.9% |
| Trade receivables | 40 | €1,010,124 | €1,289,670 | +€279,546 | +27.7% |
| Other amounts receivable | 41 | €453,150 | €727,809 | +€274,659 | +60.6% |
| Cash at bank and in hand | 54/58 | €279,137 | €498,760 | +€219,623 | +78.7% |
| Deferred charges and accrued income | 490/1 | €32,413 | €69,620 | +€37,206 | +114.8% |
| Total equity and liabilities | 10/49 | €2,525,529 | €4,130,749 | +€1.6m | +63.6% |
| Equity | 10/15 | €696,497 | €729,391 | +€32,894 | +4.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €646,497 | €679,391 | +€32,894 | +5.1% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €641,497 | €674,391 | +€32,894 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,829,032 | €3,401,359 | +€1.6m | +86.0% |
| Amounts payable after more than one year | 17 | €407,896 | €1,003,621 | +€595,726 | +146.0% |
| Financial debts | 170/4 | €407,896 | €1,003,621 | +€595,726 | +146.0% |
| Amounts payable within one year | 42/48 | €1,413,934 | €1,936,773 | +€522,839 | +37.0% |
| Current portion of amounts payable after more than one year | 42 | €110,559 | €198,065 | +€87,506 | +79.1% |
| Financial debts | 43 | €268,505 | €688,333 | +€419,828 | +156.4% |
| Credit institutions | 430/8 | €268,505 | €688,333 | +€419,828 | +156.4% |
| Trade debts | 44 | €620,054 | €799,056 | +€179,002 | +28.9% |
| Suppliers | 440/4 | €620,054 | €799,056 | +€179,002 | +28.9% |
| Advances received on contracts in progress | 46 | €50,000 | €42,000 | -€8,000 | -16.0% |
| Taxes, remuneration and social security | 45 | €130,086 | €111,926 | -€18,160 | -14.0% |
| Taxes | 450/3 | €22,839 | €14,884 | -€7,955 | -34.8% |
| Remuneration and social security | 454/9 | €107,247 | €97,042 | -€10,205 | -9.5% |
| Other amounts payable | 47/48 | €234,731 | €97,393 | -€137,338 | -58.5% |
| Accrued charges and deferred income | 492/3 | €7,202 | €460,964 | +€453,762 | +6300.3% |
| Non-recurring operating income | 76A | €833 | €0 | -€833 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,130,429 | €1,566,549 | +€436,121 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,841 | €161,586 | +€41,745 | +34.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€255 | €30,782 | +€31,037 | |
| Other operating charges | 640/8 | €16,974 | €19,253 | +€2,279 | +13.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,686,230 | €1,872,907 | +€186,677 | +11.1% |
| Operating profit (loss) | 9901 | €419,242 | €94,736 | -€324,505 | -77.4% |
| Financial income | 75/76B | €8,752 | €2,957 | -€5,795 | -66.2% |
| Recurring financial income | 75 | €8,752 | €2,957 | -€5,795 | -66.2% |
| Financial charges | 65/66B | €22,938 | €63,405 | +€40,467 | +176.4% |
| Recurring financial charges | 65 | €22,938 | €63,405 | +€40,467 | +176.4% |
| Profit (loss) for the period before taxes | 9903 | €405,055 | €34,289 | -€370,767 | -91.5% |
| Income taxes | 67/77 | €72,049 | €1,395 | -€70,654 | -98.1% |
| Profit (loss) for the period | 9904 | €333,006 | €32,894 | -€300,112 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €333,006 | €32,894 | -€300,112 | -90.1% |
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 9 October 2026 via checked.be.