SOTAM: 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.
SOTAM
Largest movements
- Receivables within one year -€44,071
down €44,071 (-38.0%), from €115,975 to €71,904
- Cash +€26,931
up €26,931 (+29.1%), from €92,603 to €119,534
mainly Other debts (+€50,797) and Receivables within one year (+€44,071)
- Current investments +€5,964
new in 2025: €5,964
- Tangible fixed assets -€2,513
down €2,513 (-41.4%), from €6,066 to €3,553
- Reserves -€61,267
down €61,267 (-38.0%), from €161,084 to €99,817
of which Distributable reserves: -€61,267
- Other debts +€50,797
up €50,797 (+145.1%), from €35,000 to €85,797
- Tax, wage and social debts -€3,225
down €3,225 (-26.4%), from €12,210 to €8,985
- Financial charges +€37,312
up €37,312 (+44.3%), from €84,208 to €121,519
- Gross operating margin +€33,331
up €33,331 (+26.7%), from €124,706 to €158,037
- Financial income -€2,844
down €2,844 (-42.7%), from €6,657 to €3,813
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 | €216,248 | €200,955 | -€15,294 | -7.1% |
| Fixed assets | 21/28 | €6,066 | €3,553 | -€2,513 | -41.4% |
| Tangible fixed assets | 22/27 | €6,066 | €3,553 | -€2,513 | -41.4% |
| Furniture and vehicles | 24 | €6,066 | €3,553 | -€2,513 | -41.4% |
| Current assets | 29/58 | €210,182 | €197,402 | -€12,780 | -6.1% |
| Amounts receivable within one year | 40/41 | €115,975 | €71,904 | -€44,071 | -38.0% |
| Other amounts receivable | 41 | €115,975 | €71,904 | -€44,071 | -38.0% |
| Current investments | 50/53 | - | €5,964 | +€5,964 | |
| Cash at bank and in hand | 54/58 | €92,603 | €119,534 | +€26,931 | +29.1% |
| Deferred charges and accrued income | 490/1 | €1,605 | - | -€1,605 | |
| Total equity and liabilities | 10/49 | €216,248 | €200,955 | -€15,294 | -7.1% |
| Equity | 10/15 | €167,284 | €106,017 | -€61,267 | -36.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €161,084 | €99,817 | -€61,267 | -38.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €159,224 | €97,957 | -€61,267 | -38.5% |
| Amounts payable | 17/49 | €48,964 | €94,938 | +€45,973 | +93.9% |
| Amounts payable within one year | 42/48 | €48,964 | €94,938 | +€45,973 | +93.9% |
| Trade debts | 44 | €1,754 | €155 | -€1,599 | -91.2% |
| Suppliers | 440/4 | €1,754 | €155 | -€1,599 | -91.2% |
| Taxes, remuneration and social security | 45 | €12,210 | €8,985 | -€3,225 | -26.4% |
| Taxes | 450/3 | €12,210 | €8,985 | -€3,225 | -26.4% |
| Other amounts payable | 47/48 | €35,000 | €85,797 | +€50,797 | +145.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,941 | €2,513 | -€428 | -14.5% |
| Other operating charges | 640/8 | €1,730 | €1,541 | -€189 | -10.9% |
| Gross operating margin | 9900 | €124,706 | €158,037 | +€33,331 | +26.7% |
| Operating profit (loss) | 9901 | €120,035 | €153,983 | +€33,948 | +28.3% |
| Financial income | 75/76B | €6,657 | €3,813 | -€2,844 | -42.7% |
| Recurring financial income | 75 | €6,657 | €3,813 | -€2,844 | -42.7% |
| Financial charges | 65/66B | €84,208 | €121,519 | +€37,312 | +44.3% |
| Recurring financial charges | 65 | €84,208 | €121,519 | +€37,312 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €42,484 | €36,276 | -€6,207 | -14.6% |
| Income taxes | 67/77 | €13,246 | €11,746 | -€1,500 | -11.3% |
| Profit (loss) for the period | 9904 | €29,238 | €24,530 | -€4,708 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,238 | €24,530 | -€4,708 | -16.1% |
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 10 October 2026 via checked.be.