SOTREFI: 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.
SOTREFI
Largest movements
- Receivables within one year -€31,252
down €31,252 (-59.7%), from €52,345 to €21,093
of which Trade receivables: -€31,307
- Cash +€25,084
up €25,084 (+227.8%), from €11,013 to €36,097
mainly Receivables within one year (+€31,252) and Depreciation (+€3,314)
- Tangible fixed assets -€3,314
down €3,314 (-58.2%), from €5,691 to €2,377
of which Furniture and vehicles: -€2,405
- Trade debts -€9,670
down €9,670 (-81.5%), from €11,866 to €2,197
- Other debts +€3,100
up €3,100 (+26.2%), from €11,848 to €14,948
- Accrued charges and deferred income -€2,603
no longer reported in 2025 (was €2,603)
- Reserves -€1,920
down €1,920 (-4.8%), from €39,820 to €37,900
- Profit (loss) carried forward +€1,428
up €1,428 (+87.8%), from -€1,625 to -€198
- Taxes -€996
no longer reported in 2025 (was €996)
- Depreciation -€742
down €742 (-18.3%), from €4,056 to €3,314
- Gross operating margin -€648
down €648 (-14.4%), from €4,505 to €3,857
- Financial charges -€56
down €56 (-14.3%), from €394 to €338
of which Financial charges: -€130
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 | €71,911 | €62,247 | -€9,665 | -13.4% |
| Fixed assets | 21/28 | €5,691 | €2,377 | -€3,314 | -58.2% |
| Tangible fixed assets | 22/27 | €5,691 | €2,377 | -€3,314 | -58.2% |
| Plant, machinery and equipment | 23 | €970 | €60 | -€909 | -93.8% |
| Furniture and vehicles | 24 | €4,721 | €2,316 | -€2,405 | -50.9% |
| Current assets | 29/58 | €66,221 | €59,870 | -€6,351 | -9.6% |
| Amounts receivable within one year | 40/41 | €52,345 | €21,093 | -€31,252 | -59.7% |
| Trade receivables | 40 | €52,027 | €20,720 | -€31,307 | -60.2% |
| Other amounts receivable | 41 | €317 | €373 | +€55 | +17.5% |
| Cash at bank and in hand | 54/58 | €11,013 | €36,097 | +€25,084 | +227.8% |
| Deferred charges and accrued income | 490/1 | €2,863 | €2,680 | -€183 | -6.4% |
| Total equity and liabilities | 10/49 | €71,911 | €62,247 | -€9,665 | -13.4% |
| Equity | 10/15 | €44,595 | €44,102 | -€493 | -1.1% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €39,820 | €37,900 | -€1,920 | -4.8% |
| Distributable reserves | 133 | €39,820 | €37,900 | -€1,920 | -4.8% |
| Profit (loss) carried forward | 14 | -€1,625 | -€198 | +€1,428 | +87.8% |
| Amounts payable | 17/49 | €27,317 | €18,145 | -€9,172 | -33.6% |
| Amounts payable within one year | 42/48 | €24,714 | €18,145 | -€6,570 | -26.6% |
| Trade debts | 44 | €11,866 | €2,197 | -€9,670 | -81.5% |
| Suppliers | 440/4 | €11,866 | €2,197 | -€9,670 | -81.5% |
| Taxes, remuneration and social security | 45 | €1,000 | €1,000 | = | 0.0% |
| Taxes | 450/3 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €11,848 | €14,948 | +€3,100 | +26.2% |
| Accrued charges and deferred income | 492/3 | €2,603 | - | -€2,603 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,056 | €3,314 | -€742 | -18.3% |
| Other operating charges | 640/8 | €735 | €702 | -€33 | -4.5% |
| Gross operating margin | 9900 | €4,505 | €3,857 | -€648 | -14.4% |
| Operating profit (loss) | 9901 | -€286 | -€159 | +€127 | +44.4% |
| Financial income | 75/76B | €24 | €4 | -€20 | -82.3% |
| Recurring financial income | 75 | €24 | €4 | -€20 | -82.3% |
| Financial charges | 65/66B | €394 | €338 | -€56 | -14.3% |
| Recurring financial charges | 65 | €331 | €200 | -€130 | -39.4% |
| Non-recurring financial charges | 66B | €63 | €137 | +€74 | +117.5% |
| Profit (loss) for the period before taxes | 9903 | -€656 | -€493 | +€164 | +24.9% |
| Income taxes | 67/77 | €996 | - | -€996 | |
| Profit (loss) for the period | 9904 | -€1,652 | -€493 | +€1,159 | +70.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,652 | -€493 | +€1,159 | +70.2% |
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 8 October 2026 via checked.be.