SOTRAD: 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.
SOTRAD
Largest movements
- Receivables within one year +€28,513
up €28,513 (+6.2%), from €459,142 to €487,655
of which Trade receivables: +€18,582
- Cash +€25,673
up €25,673 (+219%), from €11,739 to €37,412
mainly Short-term financial debts (+€193,127) and Net result for the year (+€52,151)
- Other debts -€203,048
no longer reported in 2025 (was €203,048)
- Short-term financial debts +€193,127
up €193,127 (+1,094%), from €17,660 to €210,787
- Reserves +€52,145
up €52,145 (+19.0%), from €274,547 to €326,692
of which Distributable reserves: +€199,495
- Trade debts +€44,448
up €44,448 (+23.7%), from €187,682 to €232,130
- Tax, wage and social debts -€38,484
down €38,484 (-68.1%), from €56,501 to €18,017
of which Taxes: -€39,292
- Turnover -€1.6m
down €1.6m (-56.2%), from €2.8m to €1.2m
- Purchases and services -€1.3m
down €1.3m (-53.8%), from €2.5m to €1.1m
- Gross operating margin -€234,463
down €234,463 (-75.2%), from €311,609 to €77,146
- Taxes -€102,639
down €102,639, from €84,411 to -€18,228
- Other operating charges -€93,899
down €93,899 (-98.1%), from €95,691 to €1,792
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.
Derived cash bridge
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 | €1,767,376 | €1,812,497 | +€45,121 | +2.6% |
| Fixed assets | 21/28 | €1,271,201 | €1,263,723 | -€7,478 | -0.6% |
| Tangible fixed assets | 22/27 | €20,982 | €13,504 | -€7,478 | -35.6% |
| Plant, machinery and equipment | 23 | €1,133 | €1,586 | +€453 | +40.0% |
| Furniture and vehicles | 24 | €19,849 | €11,918 | -€7,931 | -40.0% |
| Financial fixed assets | 28 | €1,250,219 | €1,250,219 | = | 0.0% |
| Current assets | 29/58 | €496,175 | €548,774 | +€52,599 | +10.6% |
| Stocks and contracts in progress | 3 | €16,100 | €18,344 | +€2,244 | +13.9% |
| Stocks | 30/36 | €16,100 | €18,344 | +€2,244 | +13.9% |
| Amounts receivable within one year | 40/41 | €459,142 | €487,655 | +€28,513 | +6.2% |
| Trade receivables | 40 | €197,230 | €215,812 | +€18,582 | +9.4% |
| Other amounts receivable | 41 | €261,912 | €271,843 | +€9,931 | +3.8% |
| Cash at bank and in hand | 54/58 | €11,739 | €37,412 | +€25,673 | +219% |
| Deferred charges and accrued income | 490/1 | €9,194 | €5,363 | -€3,831 | -41.7% |
| Total equity and liabilities | 10/49 | €1,767,376 | €1,812,497 | +€45,121 | +2.6% |
| Equity | 10/15 | €1,295,486 | €1,347,636 | +€52,150 | +4.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €274,547 | €326,692 | +€52,145 | +19.0% |
| Tax-exempt reserves | 132 | €147,350 | - | -€147,350 | |
| Distributable reserves | 133 | €127,197 | €326,692 | +€199,495 | +157% |
| Profit (loss) carried forward | 14 | €520,939 | €520,944 | +€5 | 0.0% |
| Amounts payable | 17/49 | €471,890 | €464,861 | -€7,029 | -1.5% |
| Amounts payable within one year | 42/48 | €464,891 | €460,934 | -€3,957 | -0.9% |
| Financial debts | 43 | €17,660 | €210,787 | +€193,127 | +1,094% |
| Credit institutions | 430/8 | €17,660 | €210,787 | +€193,127 | +1,094% |
| Trade debts | 44 | €187,682 | €232,130 | +€44,448 | +23.7% |
| Suppliers | 440/4 | €187,682 | €232,130 | +€44,448 | +23.7% |
| Taxes, remuneration and social security | 45 | €56,501 | €18,017 | -€38,484 | -68.1% |
| Taxes | 450/3 | €52,988 | €13,696 | -€39,292 | -74.2% |
| Remuneration and social security | 454/9 | €3,513 | €4,321 | +€808 | +23.0% |
| Other amounts payable | 47/48 | €203,048 | - | -€203,048 | |
| Accrued charges and deferred income | 492/3 | €6,999 | €3,927 | -€3,072 | -43.9% |
| Turnover | 70 | €2,776,721 | €1,215,608 | -€1.6m | -56.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,465,112 | €1,138,462 | -€1.3m | -53.8% |
| Remuneration, social security and pensions | 62 | €33,246 | €32,391 | -€855 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,443 | €8,793 | +€350 | +4.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,685 | - | -€3,685 | |
| Other operating charges | 640/8 | €95,691 | €1,792 | -€93,899 | -98.1% |
| Gross operating margin | 9900 | €311,609 | €77,146 | -€234,463 | -75.2% |
| Operating profit (loss) | 9901 | €170,544 | €34,170 | -€136,374 | -80.0% |
| Financial income | 75/76B | €17,233 | €24,034 | +€6,801 | +39.5% |
| Recurring financial income | 75 | €17,233 | €24,034 | +€6,801 | +39.5% |
| Financial charges | 65/66B | €26,169 | €24,281 | -€1,888 | -7.2% |
| Recurring financial charges | 65 | €26,169 | €24,281 | -€1,888 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €161,608 | €33,923 | -€127,685 | -79.0% |
| Income taxes | 67/77 | €84,411 | -€18,228 | -€102,639 | |
| Profit (loss) for the period | 9904 | €77,197 | €52,151 | -€25,046 | -32.4% |
| Transfer from tax-exempt reserves | 789 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €77,197 | €199,501 | +€122,304 | +158% |
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 23 October 2026 via checked.be.