SOVEREX: 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.
SOVEREX
Largest movements
- Tangible fixed assets +€46,709
up €46,709 (+644%), from €7,254 to €53,963
of which Furniture and vehicles: +€47,751
- Receivables within one year -€22,808
down €22,808 (-69.9%), from €32,624 to €9,816
of which Other amounts receivable: -€21,645
- Debts after one year +€28,085
new in 2025: €28,085
- Tax, wage and social debts -€12,097
down €12,097 (-56.6%), from €21,379 to €9,282
- Current portion of long-term debt +€9,573
new in 2025: €9,573
- Trade debts -€8,339
down €8,339 (-63.9%), from €13,060 to €4,721
- Other debts +€5,965
new in 2025: €5,965
- Gross operating margin -€15,177
down €15,177 (-55.8%), from €27,214 to €12,038
- Taxes -€5,483
down €5,483 (-74.3%), from €7,382 to €1,899
- Depreciation +€3,664
up €3,664 (+177%), from €2,076 to €5,740
- Other operating charges -€1,282
down €1,282 (-83.8%), from €1,530 to €248
- Financial income -€585
down €585 (-97.7%), from €599 to €14
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 | €44,350 | €67,953 | +€23,603 | +53.2% |
| Fixed assets | 21/28 | €10,590 | €57,299 | +€46,709 | +441% |
| Tangible fixed assets | 22/27 | €7,254 | €53,963 | +€46,709 | +644% |
| Furniture and vehicles | 24 | €2,948 | €50,699 | +€47,751 | +1,620% |
| Other tangible fixed assets | 26 | €4,307 | €3,265 | -€1,042 | -24.2% |
| Financial fixed assets | 28 | €3,336 | €3,336 | = | 0.0% |
| Current assets | 29/58 | €33,760 | €10,654 | -€23,106 | -68.4% |
| Amounts receivable within one year | 40/41 | €32,624 | €9,816 | -€22,808 | -69.9% |
| Trade receivables | 40 | €8,550 | €7,387 | -€1,163 | -13.6% |
| Other amounts receivable | 41 | €24,074 | €2,429 | -€21,645 | -89.9% |
| Cash at bank and in hand | 54/58 | €1,135 | €837 | -€298 | -26.2% |
| Total equity and liabilities | 10/49 | €44,350 | €67,953 | +€23,603 | +53.2% |
| Equity | 10/15 | €9,911 | €10,327 | +€416 | +4.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,062 | -€51,647 | +€416 | +0.8% |
| Amounts payable | 17/49 | €34,439 | €57,626 | +€23,187 | +67.3% |
| Amounts payable after more than one year | 17 | - | €28,085 | +€28,085 | |
| Financial debts | 170/4 | - | €28,085 | +€28,085 | |
| Amounts payable within one year | 42/48 | €34,439 | €29,541 | -€4,897 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,573 | +€9,573 | |
| Trade debts | 44 | €13,060 | €4,721 | -€8,339 | -63.9% |
| Suppliers | 440/4 | €13,060 | €4,721 | -€8,339 | -63.9% |
| Taxes, remuneration and social security | 45 | €21,379 | €9,282 | -€12,097 | -56.6% |
| Taxes | 450/3 | €21,379 | €9,282 | -€12,097 | -56.6% |
| Other amounts payable | 47/48 | - | €5,965 | +€5,965 | |
| Non-recurring operating income | 76A | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,076 | €5,740 | +€3,664 | +177% |
| Other operating charges | 640/8 | €1,530 | €248 | -€1,282 | -83.8% |
| Non-recurring operating charges | 66A | - | €2,525 | +€2,525 | |
| Gross operating margin | 9900 | €27,214 | €12,038 | -€15,177 | -55.8% |
| Operating profit (loss) | 9901 | €23,609 | €3,525 | -€20,083 | -85.1% |
| Financial income | 75/76B | €599 | €14 | -€585 | -97.7% |
| Recurring financial income | 75 | €599 | €14 | -€585 | -97.7% |
| Financial charges | 65/66B | €945 | €1,224 | +€280 | +29.6% |
| Recurring financial charges | 65 | €945 | €1,224 | +€280 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €23,263 | €2,315 | -€20,948 | -90.0% |
| Income taxes | 67/77 | €7,382 | €1,899 | -€5,483 | -74.3% |
| Profit (loss) for the period | 9904 | €15,880 | €416 | -€15,465 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,880 | €416 | -€15,465 | -97.4% |
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 18 October 2026 via checked.be.