SOTRAFEU: 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.
SOTRAFEU
Largest movements
- Receivables within one year +€235,478
up €235,478 (+41.8%), from €563,533 to €799,011
of which Trade receivables: +€248,132
- Cash -€150,825
down €150,825 (-71.8%), from €210,078 to €59,252
mainly Receivables within one year (-€235,478) and Investment in fixed assets (net) (-€64,134)
- Tangible fixed assets +€22,583
up €22,583 (+19.0%), from €118,694 to €141,277
of which Furniture and vehicles: +€11,452
- Trade debts +€159,529
up €159,529 (+54.2%), from €294,235 to €453,764
- Advances received -€22,573
down €22,573 (-30.8%), from €73,169 to €50,597
- Profit (loss) carried forward -€18,513
down €18,513 (-7.1%), from €262,453 to €243,940
- Tax, wage and social debts +€17,502
up €17,502 (+13.3%), from €131,649 to €149,151
of which Taxes: +€17,050
- Current portion of long-term debt -€13,758
down €13,758 (-29.9%), from €46,031 to €32,272
- Gross operating margin +€87,894
up €87,894 (+12.1%), from €724,295 to €812,189
- Staff costs +€76,883
up €76,883 (+12.1%), from €632,821 to €709,704
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 | €916,435 | €1,022,610 | +€106,175 | +11.6% |
| Fixed assets | 21/28 | €122,754 | €143,149 | +€20,395 | +16.6% |
| Intangible fixed assets | 21 | €2,782 | €594 | -€2,188 | -78.6% |
| Tangible fixed assets | 22/27 | €118,694 | €141,277 | +€22,583 | +19.0% |
| Land and buildings | 22 | €22,928 | €31,113 | +€8,185 | +35.7% |
| Plant, machinery and equipment | 23 | €31,634 | €34,580 | +€2,946 | +9.3% |
| Furniture and vehicles | 24 | €64,132 | €75,584 | +€11,452 | +17.9% |
| Financial fixed assets | 28 | €1,278 | €1,278 | = | 0.0% |
| Current assets | 29/58 | €793,681 | €879,461 | +€85,780 | +10.8% |
| Stocks and contracts in progress | 3 | €19,899 | €21,198 | +€1,299 | +6.5% |
| Stocks | 30/36 | €19,899 | €21,198 | +€1,299 | +6.5% |
| Amounts receivable within one year | 40/41 | €563,533 | €799,011 | +€235,478 | +41.8% |
| Trade receivables | 40 | €373,775 | €621,907 | +€248,132 | +66.4% |
| Other amounts receivable | 41 | €189,758 | €177,104 | -€12,654 | -6.7% |
| Cash at bank and in hand | 54/58 | €210,078 | €59,252 | -€150,825 | -71.8% |
| Deferred charges and accrued income | 490/1 | €171 | - | -€171 | |
| Total equity and liabilities | 10/49 | €916,435 | €1,022,610 | +€106,175 | +11.6% |
| Equity | 10/15 | €307,925 | €289,412 | -€18,513 | -6.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €20,472 | €20,472 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,472 | €20,472 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Other | 1319 | €17,972 | €17,972 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262,453 | €243,940 | -€18,513 | -7.1% |
| Amounts payable | 17/49 | €608,510 | €733,197 | +€124,688 | +20.5% |
| Amounts payable after more than one year | 17 | €52,097 | €45,991 | -€6,106 | -11.7% |
| Financial debts | 170/4 | €52,097 | €45,991 | -€6,106 | -11.7% |
| Amounts payable within one year | 42/48 | €556,413 | €687,206 | +€130,793 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €46,031 | €32,272 | -€13,758 | -29.9% |
| Trade debts | 44 | €294,235 | €453,764 | +€159,529 | +54.2% |
| Suppliers | 440/4 | €294,235 | €453,764 | +€159,529 | +54.2% |
| Advances received on contracts in progress | 46 | €73,169 | €50,597 | -€22,573 | -30.8% |
| Taxes, remuneration and social security | 45 | €131,649 | €149,151 | +€17,502 | +13.3% |
| Taxes | 450/3 | €36,498 | €53,548 | +€17,050 | +46.7% |
| Remuneration and social security | 454/9 | €95,151 | €95,603 | +€452 | +0.5% |
| Other amounts payable | 47/48 | €11,329 | €1,422 | -€9,907 | -87.5% |
| Remuneration, social security and pensions | 62 | €632,821 | €709,704 | +€76,883 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,646 | €43,739 | -€907 | -2.0% |
| Other operating charges | 640/8 | €4,235 | €8,971 | +€4,737 | +112% |
| Gross operating margin | 9900 | €724,295 | €812,189 | +€87,894 | +12.1% |
| Operating profit (loss) | 9901 | €42,593 | €49,774 | +€7,181 | +16.9% |
| Financial income | 75/76B | €3,246 | €2,549 | -€697 | -21.5% |
| Recurring financial income | 75 | €3,246 | €2,549 | -€697 | -21.5% |
| Financial charges | 65/66B | €11,967 | €9,607 | -€2,359 | -19.7% |
| Recurring financial charges | 65 | €11,967 | €9,607 | -€2,359 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €33,872 | €42,716 | +€8,844 | +26.1% |
| Income taxes | 67/77 | €11,656 | €16,321 | +€4,665 | +40.0% |
| Profit (loss) for the period | 9904 | €22,216 | €26,395 | +€4,179 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,216 | €26,395 | +€4,179 | +18.8% |
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.