SOTAY: 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.
SOTAY
Largest movements
- Tangible fixed assets -€27,988
down €27,988 (-12.3%), from €228,100 to €200,112
of which Plant, machinery and equipment: -€25,993
- Receivables within one year -€8,127
down €8,127 (-7.0%), from €116,798 to €108,671
of which Other amounts receivable: -€19,843
- Debts after one year -€57,181
down €57,181 (-23.8%), from €240,589 to €183,408
- Trade debts -€51,630
down €51,630 (-74.8%), from €68,987 to €17,357
- Reserves +€27,539
up €27,539 (+19.1%), from €143,967 to €171,506
of which Distributable reserves: +€27,539
- Other debts +€20,714
up €20,714 (+25.1%), from €82,376 to €103,090
- Current portion of long-term debt +€16,674
up €16,674 (+28.8%), from €57,879 to €74,553
- Gross operating margin -€21,840
down €21,840 (-19.7%), from €111,079 to €89,239
- Depreciation -€5,332
down €5,332 (-13.7%), from €38,860 to €33,528
- Taxes -€4,421
down €4,421 (-30.5%), from €14,507 to €10,086
- Financial charges -€2,727
down €2,727 (-14.5%), from €18,787 to €16,060
- Other operating charges -€2,215
down €2,215 (-52.2%), from €4,241 to €2,026
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 | €738,007 | €707,923 | -€30,084 | -4.1% |
| Fixed assets | 21/28 | €620,100 | €592,112 | -€27,988 | -4.5% |
| Tangible fixed assets | 22/27 | €228,100 | €200,112 | -€27,988 | -12.3% |
| Plant, machinery and equipment | 23 | €214,668 | €188,675 | -€25,993 | -12.1% |
| Furniture and vehicles | 24 | €1,577 | €3,879 | +€2,302 | +145.9% |
| Leasing and similar rights | 25 | €11,854 | €7,557 | -€4,297 | -36.3% |
| Financial fixed assets | 28 | €392,000 | €392,000 | = | 0.0% |
| Current assets | 29/58 | €117,907 | €115,811 | -€2,096 | -1.8% |
| Amounts receivable within one year | 40/41 | €116,798 | €108,671 | -€8,127 | -7.0% |
| Trade receivables | 40 | €86,798 | €98,514 | +€11,716 | +13.5% |
| Other amounts receivable | 41 | €30,000 | €10,157 | -€19,843 | -66.1% |
| Cash at bank and in hand | 54/58 | €1,076 | €7,107 | +€6,030 | +560.3% |
| Deferred charges and accrued income | 490/1 | €33 | €34 | +€1 | +3.3% |
| Total equity and liabilities | 10/49 | €738,007 | €707,923 | -€30,084 | -4.1% |
| Equity | 10/15 | €181,850 | €208,556 | +€26,706 | +14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,967 | €171,506 | +€27,539 | +19.1% |
| 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 | €142,107 | €169,646 | +€27,539 | +19.4% |
| Profit (loss) carried forward | 14 | €19,283 | €18,450 | -€833 | -4.3% |
| Amounts payable | 17/49 | €556,157 | €499,367 | -€56,790 | -10.2% |
| Amounts payable after more than one year | 17 | €240,589 | €183,408 | -€57,181 | -23.8% |
| Financial debts | 170/4 | €240,589 | €183,408 | -€57,181 | -23.8% |
| Amounts payable within one year | 42/48 | €308,942 | €310,012 | +€1,069 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €57,879 | €74,553 | +€16,674 | +28.8% |
| Financial debts | 43 | €49,500 | €49,600 | +€100 | +0.2% |
| Credit institutions | 430/8 | €49,500 | €49,600 | +€100 | +0.2% |
| Trade debts | 44 | €68,987 | €17,357 | -€51,630 | -74.8% |
| Suppliers | 440/4 | €68,987 | €17,357 | -€51,630 | -74.8% |
| Taxes, remuneration and social security | 45 | €50,201 | €65,412 | +€15,211 | +30.3% |
| Taxes | 450/3 | €50,201 | €65,412 | +€15,211 | +30.3% |
| Other amounts payable | 47/48 | €82,376 | €103,090 | +€20,714 | +25.1% |
| Accrued charges and deferred income | 492/3 | €6,626 | €5,948 | -€679 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,860 | €33,528 | -€5,332 | -13.7% |
| Other operating charges | 640/8 | €4,241 | €2,026 | -€2,215 | -52.2% |
| Gross operating margin | 9900 | €111,079 | €89,239 | -€21,840 | -19.7% |
| Operating profit (loss) | 9901 | €67,977 | €53,685 | -€14,292 | -21.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €18,787 | €16,060 | -€2,727 | -14.5% |
| Recurring financial charges | 65 | €18,787 | €16,060 | -€2,727 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €49,190 | €37,625 | -€11,565 | -23.5% |
| Income taxes | 67/77 | €14,507 | €10,086 | -€4,421 | -30.5% |
| Profit (loss) for the period | 9904 | €34,683 | €27,539 | -€7,144 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,683 | €27,539 | -€7,144 | -20.6% |
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 6 October 2026 via checked.be.