SOUVERAIN 23 DEVELOPMENT: 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.
SOUVERAIN 23 DEVELOPMENT
Largest movements
- Receivables within one year -€7.0m
down €7.0m (-95.8%), from €7.3m to €306,056
of which Trade receivables: -€6.9m
- Cash -€698,306
down €698,306 (-73.1%), from €954,962 to €256,656
mainly Trade debts (-€2.5m) and Advances received (-€2.5m)
- Receivables after one year -€263,717
down €263,717 (-11.8%), from €2.2m to €2.0m
- Trade debts -€2.5m
down €2.5m (-60.6%), from €4.2m to €1.6m
- Advances received -€2.5m
down €2.5m (-92.3%), from €2.7m to €208,491
- Debts after one year -€1.8m
no longer reported in 2025 (was €1.8m)
- Other debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Turnover -€17.9m
down €17.9m (-99.4%), from €18.0m to €108,015
- Goods and materials -€12.2m
no longer reported in 2025 (was €12.2m)
- Services and other goods -€1.9m
down €1.9m (-52.9%), from €3.6m to €1.7m
- Other operating income +€1.6m
up €1.6m (+220.4%), from €709,935 to €2.3m
- Taxes -€397,475
down €397,475 (-98.3%), from €404,310 to €6,835
of which Taxes: -€482,381
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 | €10,606,853 | €2,571,445 | -€8.0m | -75.8% |
| Current assets | 29/58 | €10,606,853 | €2,571,445 | -€8.0m | -75.8% |
| Amounts receivable after more than one year | 29 | €2,235,561 | €1,971,844 | -€263,717 | -11.8% |
| Other amounts receivable | 291 | €2,235,561 | €1,971,844 | -€263,717 | -11.8% |
| Amounts receivable within one year | 40/41 | €7,331,459 | €306,056 | -€7.0m | -95.8% |
| Trade receivables | 40 | €7,246,553 | €301,647 | -€6.9m | -95.8% |
| Other amounts receivable | 41 | €84,906 | €4,409 | -€80,497 | -94.8% |
| Cash at bank and in hand | 54/58 | €954,962 | €256,656 | -€698,306 | -73.1% |
| Deferred charges and accrued income | 490/1 | €84,871 | €36,889 | -€47,982 | -56.5% |
| Total equity and liabilities | 10/49 | €10,606,853 | €2,571,445 | -€8.0m | -75.8% |
| Equity | 10/15 | €700,000 | €717,770 | +€17,770 | +2.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Uncalled capital | 101 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €200,000 | €200,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Legal reserve | 130 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €17,770 | +€17,770 | |
| Amounts payable | 17/49 | €9,906,853 | €1,853,674 | -€8.1m | -81.3% |
| Amounts payable after more than one year | 17 | €1,800,000 | - | -€1.8m | |
| Financial debts | 170/4 | €1,800,000 | - | -€1.8m | |
| Other loans | 174 | €1,800,000 | - | -€1.8m | |
| Amounts payable within one year | 42/48 | €8,105,742 | €1,853,674 | -€6.3m | -77.1% |
| Trade debts | 44 | €4,168,910 | €1,643,523 | -€2.5m | -60.6% |
| Suppliers | 440/4 | €4,168,910 | €1,643,523 | -€2.5m | -60.6% |
| Advances received on contracts in progress | 46 | €2,717,450 | €208,491 | -€2.5m | -92.3% |
| Taxes, remuneration and social security | 45 | €6,450 | €1,660 | -€4,790 | -74.3% |
| Taxes | 450/3 | €6,450 | €1,660 | -€4,790 | -74.3% |
| Other amounts payable | 47/48 | €1,212,932 | - | -€1.2m | |
| Accrued charges and deferred income | 492/3 | €1,111 | - | -€1,111 | |
| Operating income | 70/76A | €17,470,062 | €2,382,673 | -€15.1m | -86.4% |
| Turnover | 70 | €18,011,903 | €108,015 | -€17.9m | -99.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,251,776 | - | +€1.3m | |
| Other operating income | 74 | €709,935 | €2,274,657 | +€1.6m | +220.4% |
| Operating charges | 60/66A | €15,852,820 | €2,349,370 | -€13.5m | -85.2% |
| Goods for resale, raw materials and consumables | 60 | €12,226,305 | - | -€12.2m | |
| Purchases | 600/8 | €12,226,305 | - | -€12.2m | |
| Services and other goods | 61 | €3,550,375 | €1,673,722 | -€1.9m | -52.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €317,561 | +€317,561 | |
| Other operating charges | 640/8 | €76,140 | €358,087 | +€281,947 | +370.3% |
| Operating profit (loss) | 9901 | €1,617,242 | €33,302 | -€1.6m | -97.9% |
| Financial income | 75/76B | €148,879 | €52,210 | -€96,669 | -64.9% |
| Recurring financial income | 75 | €148,879 | €52,210 | -€96,669 | -64.9% |
| Income from financial fixed assets | 750 | €84,871 | €36,889 | -€47,982 | -56.5% |
| Income from current assets | 751 | €64,007 | €15,320 | -€48,687 | -76.1% |
| Other financial income | 752/9 | €1 | €0 | -€1 | -54.0% |
| Financial charges | 65/66B | €148,879 | €60,906 | -€87,973 | -59.1% |
| Recurring financial charges | 65 | €148,879 | €60,906 | -€87,973 | -59.1% |
| Debt charges | 650 | €148,350 | €59,502 | -€88,848 | -59.9% |
| Other financial charges | 652/9 | €529 | €1,405 | +€876 | +165.5% |
| Profit (loss) for the period before taxes | 9903 | €1,617,242 | €24,606 | -€1.6m | -98.5% |
| Income taxes | 67/77 | €404,310 | €6,835 | -€397,475 | -98.3% |
| Taxes | 670/3 | €489,216 | €6,835 | -€482,381 | -98.6% |
| Tax adjustments and reversals of tax provisions | 77 | €84,906 | - | -€84,906 | |
| Profit (loss) for the period | 9904 | €1,212,932 | €17,770 | -€1.2m | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,212,932 | €17,770 | -€1.2m | -98.5% |
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 9 October 2026 via checked.be.