SOTO Construct: 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.
SOTO Construct
Largest movements
- Stocks and contracts -€101,924
down €101,924 (-83.3%), from €122,314 to €20,391
- Cash +€82,181
up €82,181 (+87.5%), from €93,946 to €176,127
mainly Net result for the year (+€124,769) and Stocks and contracts (+€101,924)
- Deferred charges and accrued income -€37,862
down €37,862 (-100.0%), from €37,862 to €0
- Tangible fixed assets -€10,856
down €10,856 (-50.7%), from €21,408 to €10,552
of which Furniture and vehicles: -€5,600
- Receivables within one year +€8,857
up €8,857 (+92.3%), from €9,600 to €18,457
of which Trade receivables: +€6,545
- Debts after one year -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Reserves +€124,769
up €124,769 (+669.4%), from €18,640 to €143,409
- Trade debts -€69,063
down €69,063 (-99.0%), from €69,788 to €725
- Other debts +€27,227
up €27,227 (+101.9%), from €26,728 to €53,955
- Tax, wage and social debts +€7,463
up €7,463 (+74.8%), from €9,974 to €17,437
of which Taxes: +€9,063
- Gross operating margin +€154,125
up €154,125 (+840.2%), from €18,345 to €172,470
- Taxes +€34,219
up €34,219 (+4185.9%), from €817 to €35,037
- Depreciation -€2,633
down €2,633 (-21.1%), from €12,506 to €9,873
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 | €285,130 | €225,526 | -€59,604 | -20.9% |
| Fixed assets | 21/28 | €21,408 | €10,552 | -€10,856 | -50.7% |
| Tangible fixed assets | 22/27 | €21,408 | €10,552 | -€10,856 | -50.7% |
| Land and buildings | 22 | €1,963 | €1,662 | -€301 | -15.3% |
| Plant, machinery and equipment | 23 | €8,049 | €3,093 | -€4,956 | -61.6% |
| Furniture and vehicles | 24 | €11,396 | €5,796 | -€5,600 | -49.1% |
| Current assets | 29/58 | €263,722 | €214,974 | -€48,748 | -18.5% |
| Stocks and contracts in progress | 3 | €122,314 | €20,391 | -€101,924 | -83.3% |
| Stocks | 30/36 | €122,314 | €20,391 | -€101,924 | -83.3% |
| Amounts receivable within one year | 40/41 | €9,600 | €18,457 | +€8,857 | +92.3% |
| Trade receivables | 40 | €5,242 | €11,787 | +€6,545 | +124.9% |
| Other amounts receivable | 41 | €4,358 | €6,670 | +€2,312 | +53.1% |
| Cash at bank and in hand | 54/58 | €93,946 | €176,127 | +€82,181 | +87.5% |
| Deferred charges and accrued income | 490/1 | €37,862 | €0 | -€37,862 | -100.0% |
| Total equity and liabilities | 10/49 | €285,130 | €225,526 | -€59,604 | -20.9% |
| Equity | 10/15 | €28,640 | €153,409 | +€124,769 | +435.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €18,640 | €143,409 | +€124,769 | +669.4% |
| Distributable reserves | 133 | €18,640 | €143,409 | +€124,769 | +669.4% |
| Amounts payable | 17/49 | €256,490 | €72,117 | -€184,373 | -71.9% |
| Amounts payable after more than one year | 17 | €150,000 | €0 | -€150,000 | -100.0% |
| Financial debts | 170/4 | €150,000 | €0 | -€150,000 | -100.0% |
| Amounts payable within one year | 42/48 | €106,490 | €72,117 | -€34,373 | -32.3% |
| Trade debts | 44 | €69,788 | €725 | -€69,063 | -99.0% |
| Suppliers | 440/4 | €69,788 | €725 | -€69,063 | -99.0% |
| Taxes, remuneration and social security | 45 | €9,974 | €17,437 | +€7,463 | +74.8% |
| Taxes | 450/3 | €8,374 | €17,437 | +€9,063 | +108.2% |
| Remuneration and social security | 454/9 | €1,600 | €0 | -€1,600 | -100.0% |
| Other amounts payable | 47/48 | €26,728 | €53,955 | +€27,227 | +101.9% |
| Non-recurring operating income | 76A | - | €132,731 | +€132,731 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,506 | €9,873 | -€2,633 | -21.1% |
| Other operating charges | 640/8 | €896 | €918 | +€22 | +2.5% |
| Non-recurring operating charges | 66A | €572 | €983 | +€411 | +72.0% |
| Gross operating margin | 9900 | €18,345 | €172,470 | +€154,125 | +840.2% |
| Operating profit (loss) | 9901 | €4,371 | €160,696 | +€156,325 | +3576.5% |
| Financial income | 75/76B | €30 | €23 | -€7 | -22.8% |
| Recurring financial income | 75 | €30 | €23 | -€7 | -22.8% |
| Financial charges | 65/66B | €367 | €914 | +€547 | +149.2% |
| Recurring financial charges | 65 | €367 | €914 | +€547 | +149.2% |
| Profit (loss) for the period before taxes | 9903 | €4,034 | €159,805 | +€155,771 | +3861.0% |
| Income taxes | 67/77 | €817 | €35,037 | +€34,219 | +4185.9% |
| Profit (loss) for the period | 9904 | €3,217 | €124,769 | +€121,552 | +3778.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,217 | €124,769 | +€121,552 | +3778.4% |
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 11 October 2026 via checked.be.