SOTRAF: 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.
SOTRAF
Largest movements
- Tangible fixed assets +€69,101
up €69,101 (+102%), from €67,784 to €136,884
of which Leasing and similar rights: +€83,115
- Cash -€54,111
down €54,111 (-94.4%), from €57,334 to €3,223
mainly Investment in fixed assets (net) (-€87,819) and Contributions, distributions and other (-€57,571)
- Receivables within one year +€25,870
up €25,870 (+19.4%), from €133,167 to €159,036
of which Other amounts receivable: +€13,403
- Deferred charges and accrued income +€5,797
up €5,797 (+49.8%), from €11,640 to €17,437
- Debts after one year +€29,952
up €29,952 (+305%), from €9,827 to €39,780
- Tax, wage and social debts -€13,449
down €13,449 (-36.3%), from €37,086 to €23,638
of which Taxes: -€16,305
- Other debts +€12,303
up €12,303 (+7.6%), from €162,515 to €174,819
- Current portion of long-term debt +€11,760
up €11,760 (+52.6%), from €22,370 to €34,130
- Trade debts +€6,090
up €6,090 (+32.5%), from €18,735 to €24,825
- Gross operating margin -€25,729
down €25,729 (-11.0%), from €233,602 to €207,873
- Taxes -€14,162
down €14,162 (-45.4%), from €31,201 to €17,040
- Other operating charges +€12,005
up €12,005 (+224%), from €5,364 to €17,370
- Depreciation +€6,752
up €6,752 (+56.4%), from €11,966 to €18,718
- Staff costs +€3,825
up €3,825 (+4.2%), from €90,812 to €94,638
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 | €270,994 | €317,650 | +€46,656 | +17.2% |
| Fixed assets | 21/28 | €68,854 | €137,954 | +€69,101 | +100% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €67,784 | €136,884 | +€69,101 | +102% |
| Plant, machinery and equipment | 23 | €386 | - | -€386 | |
| Furniture and vehicles | 24 | €67,398 | €53,770 | -€13,628 | -20.2% |
| Leasing and similar rights | 25 | - | €83,115 | +€83,115 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,070 | €1,070 | = | 0.0% |
| Current assets | 29/58 | €202,140 | €179,696 | -€22,444 | -11.1% |
| Amounts receivable within one year | 40/41 | €133,167 | €159,036 | +€25,870 | +19.4% |
| Trade receivables | 40 | €124,802 | €137,268 | +€12,467 | +10.0% |
| Other amounts receivable | 41 | €8,365 | €21,768 | +€13,403 | +160% |
| Cash at bank and in hand | 54/58 | €57,334 | €3,223 | -€54,111 | -94.4% |
| Deferred charges and accrued income | 490/1 | €11,640 | €17,437 | +€5,797 | +49.8% |
| Total equity and liabilities | 10/49 | €270,994 | €317,650 | +€46,656 | +17.2% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €250,534 | €297,190 | +€46,656 | +18.6% |
| Amounts payable after more than one year | 17 | €9,827 | €39,780 | +€29,952 | +305% |
| Financial debts | 170/4 | €9,827 | €39,780 | +€29,952 | +305% |
| Amounts payable within one year | 42/48 | €240,707 | €257,411 | +€16,704 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €22,370 | €34,130 | +€11,760 | +52.6% |
| Trade debts | 44 | €18,735 | €24,825 | +€6,090 | +32.5% |
| Suppliers | 440/4 | €18,735 | €24,825 | +€6,090 | +32.5% |
| Taxes, remuneration and social security | 45 | €37,086 | €23,638 | -€13,449 | -36.3% |
| Taxes | 450/3 | €27,153 | €10,848 | -€16,305 | -60.0% |
| Remuneration and social security | 454/9 | €9,934 | €12,790 | +€2,856 | +28.8% |
| Other amounts payable | 47/48 | €162,515 | €174,819 | +€12,303 | +7.6% |
| Remuneration, social security and pensions | 62 | €90,812 | €94,638 | +€3,825 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,966 | €18,718 | +€6,752 | +56.4% |
| Other operating charges | 640/8 | €5,364 | €17,370 | +€12,005 | +224% |
| Gross operating margin | 9900 | €233,602 | €207,873 | -€25,729 | -11.0% |
| Operating profit (loss) | 9901 | €125,459 | €77,148 | -€48,311 | -38.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €3,395 | €2,537 | -€859 | -25.3% |
| Recurring financial charges | 65 | €3,395 | €2,537 | -€859 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €122,064 | €74,611 | -€47,453 | -38.9% |
| Income taxes | 67/77 | €31,201 | €17,040 | -€14,162 | -45.4% |
| Profit (loss) for the period | 9904 | €90,862 | €57,571 | -€33,291 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €90,862 | €57,571 | -€33,291 | -36.6% |
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 16 October 2026 via checked.be.