SOUVERAIN 25: 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.
What changed
SOUVERAIN 25
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€694,654
2024 · €3.1m-€2.4m
Equity
€8.7m
2024 · €8.0m+€694,654
Cash
€258,146
2024 · €3.8m-€3.5m
Balance sheet total
€127.7m
2024 · €132.8m-€5.1m
Largest movements
Assets
- Cash -€3.5m
down €3.5m (-93.2%), from €3.8m to €258,146
mainly Debts after one year (-€5.0m) and Current investments (-€3.1m)
- Tangible fixed assets -€3.3m
down €3.3m (-2.8%), from €118.5m to €115.1m
- Current investments +€3.1m
up €3.1m, from €0 to €3.1m
Equity and liabilities
- Debts after one year -€5.0m
down €5.0m (-4.1%), from €122.5m to €117.5m
of which Financial debts: -€5.0m
Income statement
- Other operating income -€5.9m
down €5.9m (-75.1%), from €7.8m to €2.0m
- Services and other goods -€2.2m
down €2.2m (-76.6%), from €2.9m to €682,902
- Turnover +€1.4m
up €1.4m (+19.1%), from €7.1m to €8.5m
- Other operating charges +€417,503
up €417,503 (+28.1%), from €1.5m to €1.9m
- Taxes -€199,409
down €199,409 (-99.5%), from €200,388 to €979
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.
Result 2024
€3.1m
Turnover
+€1.4m
Other operating income
-€5.9m
Services and other goods
+€2.2m
Other operating charges
-€417,503
Financial income
+€36,636
Financial charges
+€51,369
Taxes
+€199,409
Result 2025
€694,654
raises the resultlowers the result
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.
From operations
+€4.6m
Investment
-€3.1m
Financing
-€5.0m
Cash 2024
€3.8m
From operations (derived)
+€4.6m
Net result for the year
+€694,654
Depreciation
+€3.3m
Receivables after one year
+€135,549
Receivables within one year
+€792,475
Deferred charges and accrued income
+€415,414
Trade debts
-€609,152
Tax, wage and social debts
-€142,157
Accrued charges and deferred income
-€51,514
Investment (derived)
-€3.1m
Current investments
-€3.1m
Financing
-€5.0m
Debts after one year
-€5.0m
Cash 2025
€258,146
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,777,161 | €127,668,992 | -€5.1m | -3.8% |
| Fixed assets | 21/28 | €118,453,843 | €115,105,304 | -€3.3m | -2.8% |
| Tangible fixed assets | 22/27 | €118,453,843 | €115,105,304 | -€3.3m | -2.8% |
| Land and buildings | 22 | €118,453,843 | €115,105,304 | -€3.3m | -2.8% |
| Current assets | 29/58 | €14,323,318 | €12,563,688 | -€1.8m | -12.3% |
| Amounts receivable after more than one year | 29 | €5,926,218 | €5,790,669 | -€135,549 | -2.3% |
| Other amounts receivable | 291 | €5,926,218 | €5,790,669 | -€135,549 | -2.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,521,973 | €729,497 | -€792,475 | -52.1% |
| Trade receivables | 40 | €1,343,648 | €296,677 | -€1.0m | -77.9% |
| Other amounts receivable | 41 | €178,324 | €432,820 | +€254,496 | +143% |
| Current investments | 50/53 | €0 | €3,100,000 | +€3.1m | |
| Other investments | 51/53 | €0 | €3,100,000 | +€3.1m | |
| Cash at bank and in hand | 54/58 | €3,774,337 | €258,146 | -€3.5m | -93.2% |
| Deferred charges and accrued income | 490/1 | €3,100,790 | €2,685,376 | -€415,414 | -13.4% |
| Total equity and liabilities | 10/49 | €132,777,161 | €127,668,992 | -€5.1m | -3.8% |
| Equity | 10/15 | €8,015,861 | €8,710,515 | +€694,654 | +8.7% |
| Contributions | 10/11 | €10,000,000 | €10,000,000 | = | 0.0% |
| Capital | 10 | €10,000,000 | €10,000,000 | = | 0.0% |
| Issued capital | 100 | €10,000,000 | €10,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,984,139 | -€1,289,486 | +€694,654 | +35.0% |
| Amounts payable | 17/49 | €124,761,300 | €118,958,477 | -€5.8m | -4.7% |
| Amounts payable after more than one year | 17 | €122,511,507 | €117,511,507 | -€5.0m | -4.1% |
| Financial debts | 170/4 | €122,500,000 | €117,500,000 | -€5.0m | -4.1% |
| Other loans | 174 | €122,500,000 | €117,500,000 | -€5.0m | -4.1% |
| Other amounts payable | 178/9 | €11,507 | €11,507 | = | 0.0% |
| Amounts payable within one year | 42/48 | €974,455 | €223,146 | -€751,309 | -77.1% |
| Trade debts | 44 | €751,968 | €142,816 | -€609,152 | -81.0% |
| Suppliers | 440/4 | €751,968 | €142,816 | -€609,152 | -81.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €193,273 | €51,115 | -€142,157 | -73.6% |
| Taxes | 450/3 | €193,273 | €51,115 | -€142,157 | -73.6% |
| Other amounts payable | 47/48 | €29,215 | €29,215 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,275,337 | €1,223,824 | -€51,514 | -4.0% |
| Operating income | 70/76A | €14,921,379 | €10,403,331 | -€4.5m | -30.3% |
| Turnover | 70 | €7,099,873 | €8,452,999 | +€1.4m | +19.1% |
| Other operating income | 74 | €7,821,505 | €1,950,332 | -€5.9m | -75.1% |
| Operating charges | 60/66A | €7,754,649 | €5,936,195 | -€1.8m | -23.4% |
| Services and other goods | 61 | €2,918,859 | €682,902 | -€2.2m | -76.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,348,539 | €3,348,539 | = | 0.0% |
| Other operating charges | 640/8 | €1,487,251 | €1,904,754 | +€417,503 | +28.1% |
| Operating profit (loss) | 9901 | €7,166,730 | €4,467,136 | -€2.7m | -37.7% |
| Financial income | 75/76B | €367,302 | €403,938 | +€36,636 | +10.0% |
| Recurring financial income | 75 | €367,302 | €403,938 | +€36,636 | +10.0% |
| Income from current assets | 751 | €355,672 | €403,938 | +€48,266 | +13.6% |
| Other financial income | 752/9 | €11,630 | €0 | -€11,630 | -100% |
| Financial charges | 65/66B | €4,226,810 | €4,175,441 | -€51,369 | -1.2% |
| Recurring financial charges | 65 | €4,226,810 | €4,175,441 | -€51,369 | -1.2% |
| Debt charges | 650 | €4,226,293 | €4,174,736 | -€51,557 | -1.2% |
| Other financial charges | 652/9 | €517 | €705 | +€188 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €3,307,222 | €695,633 | -€2.6m | -79.0% |
| Income taxes | 67/77 | €200,388 | €979 | -€199,409 | -99.5% |
| Taxes | 670/3 | €200,388 | €979 | -€199,409 | -99.5% |
| Profit (loss) for the period | 9904 | €3,106,834 | €694,654 | -€2.4m | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,106,834 | €694,654 | -€2.4m | -77.6% |
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 1 November 2026 via checked.be.