SOTREWALL: 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.
SOTREWALL
Largest movements
- Tangible fixed assets -€92,828
down €92,828 (-21.7%), from €427,495 to €334,667
of which Land and buildings: -€51,512
- Financial fixed assets +€55,000
up €55,000 (+32,162%), from €171 to €55,171
- Cash +€54,506
up €54,506 (+21.3%), from €256,023 to €310,529
- Receivables within one year -€49,979
down €49,979 (-14.9%), from €335,412 to €285,433
of which Trade receivables: -€33,554
- Deferred charges and accrued income +€31,754
up €31,754 (+1,462%), from €2,172 to €33,926
- Accrued charges and deferred income -€45,999
no longer reported in 2025 (was €45,999)
- Profit (loss) carried forward +€40,402
up €40,402 (+5.4%), from €752,104 to €792,506
- Trade debts +€19,857
up €19,857 (+21.8%), from €91,136 to €110,993
- Gross operating margin -€97,226
down €97,226 (-15.4%), from €632,324 to €535,098
- Depreciation +€45,355
up €45,355 (+60.9%), from €74,487 to €119,841
- Staff costs +€33,550
up €33,550 (+13.3%), from €252,073 to €285,623
- Taxes -€33,319
down €33,319 (-53.6%), from €62,168 to €28,849
- Other operating charges -€26,111
down €26,111 (-31.4%), from €83,169 to €57,058
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,237,964 | €1,247,954 | +€9,991 | +0.8% |
| Fixed assets | 21/28 | €427,666 | €389,838 | -€37,828 | -8.8% |
| Tangible fixed assets | 22/27 | €427,495 | €334,667 | -€92,828 | -21.7% |
| Land and buildings | 22 | €336,318 | €284,807 | -€51,512 | -15.3% |
| Furniture and vehicles | 24 | €54,061 | €13,654 | -€40,408 | -74.7% |
| Leasing and similar rights | 25 | €37,116 | €36,207 | -€909 | -2.4% |
| Financial fixed assets | 28 | €171 | €55,171 | +€55,000 | +32,162% |
| Current assets | 29/58 | €810,297 | €858,116 | +€47,819 | +5.9% |
| Stocks and contracts in progress | 3 | €16,690 | €28,229 | +€11,539 | +69.1% |
| Stocks | 30/36 | €16,690 | €28,229 | +€11,539 | +69.1% |
| Amounts receivable within one year | 40/41 | €335,412 | €285,433 | -€49,979 | -14.9% |
| Trade receivables | 40 | €316,221 | €282,668 | -€33,554 | -10.6% |
| Other amounts receivable | 41 | €19,191 | €2,765 | -€16,426 | -85.6% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €256,023 | €310,529 | +€54,506 | +21.3% |
| Deferred charges and accrued income | 490/1 | €2,172 | €33,926 | +€31,754 | +1,462% |
| Total equity and liabilities | 10/49 | €1,237,964 | €1,247,954 | +€9,991 | +0.8% |
| Equity | 10/15 | €908,348 | €948,750 | +€40,402 | +4.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €94,744 | €94,744 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €88,594 | €88,594 | = | 0.0% |
| Profit (loss) carried forward | 14 | €752,104 | €792,506 | +€40,402 | +5.4% |
| Amounts payable | 17/49 | €329,616 | €299,204 | -€30,412 | -9.2% |
| Amounts payable after more than one year | 17 | €64,937 | €56,978 | -€7,960 | -12.3% |
| Financial debts | 170/4 | €64,937 | €56,978 | -€7,960 | -12.3% |
| Amounts payable within one year | 42/48 | €218,680 | €242,227 | +€23,547 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €74,741 | €70,277 | -€4,464 | -6.0% |
| Financial debts | 43 | - | €605 | +€605 | |
| Credit institutions | 430/8 | - | €605 | +€605 | |
| Trade debts | 44 | €91,136 | €110,993 | +€19,857 | +21.8% |
| Suppliers | 440/4 | €91,136 | €110,993 | +€19,857 | +21.8% |
| Taxes, remuneration and social security | 45 | €52,804 | €60,352 | +€7,548 | +14.3% |
| Taxes | 450/3 | €19,246 | €35,693 | +€16,447 | +85.5% |
| Remuneration and social security | 454/9 | €33,558 | €24,659 | -€8,899 | -26.5% |
| Accrued charges and deferred income | 492/3 | €45,999 | - | -€45,999 | |
| Non-recurring operating income | 76A | - | €8,560 | +€8,560 | |
| Remuneration, social security and pensions | 62 | €252,073 | €285,623 | +€33,550 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,487 | €119,841 | +€45,355 | +60.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,118 | - | +€10,118 | |
| Other operating charges | 640/8 | €83,169 | €57,058 | -€26,111 | -31.4% |
| Non-recurring operating charges | 66A | - | €599 | +€599 | |
| Gross operating margin | 9900 | €632,324 | €535,098 | -€97,226 | -15.4% |
| Operating profit (loss) | 9901 | €232,713 | €71,976 | -€160,737 | -69.1% |
| Financial income | 75/76B | €4,336 | €8,017 | +€3,681 | +84.9% |
| Recurring financial income | 75 | €4,219 | €8,017 | +€3,798 | +90.0% |
| Non-recurring financial income | 76B | €117 | - | -€117 | |
| Financial charges | 65/66B | €9,788 | €10,742 | +€953 | +9.7% |
| Recurring financial charges | 65 | €9,788 | €10,742 | +€953 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €227,260 | €69,251 | -€158,009 | -69.5% |
| Income taxes | 67/77 | €62,168 | €28,849 | -€33,319 | -53.6% |
| Profit (loss) for the period | 9904 | €165,093 | €40,402 | -€124,690 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €165,093 | €40,402 | -€124,690 | -75.5% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.