SOVERIN: 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.
SOVERIN
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€2.1m
down €2.1m (-8.2%), from €26.2m to €24.0m
- Profit (loss) carried forward +€1.8m
up €1.8m (+3.5%), from €52.9m to €54.7m
- Financial income -€358,427
down €358,427 (-14.6%), from €2.5m to €2.1m
of which Non-recurring financial income: -€395,986
- Financial charges -€107,422
down €107,422 (-28.1%), from €382,017 to €274,594
- Gross operating margin -€17,790
down €17,790 (-34.6%), from €51,466 to €33,677
- Depreciation +€14,306
up €14,306 (+270.2%), from €5,294 to €19,600
- Other operating charges -€6,257
down €6,257 (-67.2%), from €9,308 to €3,051
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 | €92,474,054 | €92,977,145 | +€503,091 | +0.5% |
| Fixed assets | 21/28 | €91,433,254 | €91,832,389 | +€399,135 | +0.4% |
| Tangible fixed assets | 22/27 | €94,134 | €77,108 | -€17,025 | -18.1% |
| Furniture and vehicles | 24 | €89,862 | €72,981 | -€16,881 | -18.8% |
| Other tangible fixed assets | 26 | €4,271 | €4,127 | -€144 | -3.4% |
| Financial fixed assets | 28 | €91,339,120 | €91,755,280 | +€416,160 | +0.5% |
| Current assets | 29/58 | €1,040,800 | €1,144,756 | +€103,957 | +10.0% |
| Amounts receivable within one year | 40/41 | €1,007,768 | €1,123,332 | +€115,563 | +11.5% |
| Trade receivables | 40 | €11,718 | €7,006 | -€4,711 | -40.2% |
| Other amounts receivable | 41 | €996,050 | €1,116,325 | +€120,275 | +12.1% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,428 | €18,158 | -€11,269 | -38.3% |
| Deferred charges and accrued income | 490/1 | €3,603 | €3,266 | -€337 | -9.4% |
| Total equity and liabilities | 10/49 | €92,474,054 | €92,977,145 | +€503,091 | +0.5% |
| Equity | 10/15 | €56,911,338 | €58,744,128 | +€1.8m | +3.2% |
| Contributions | 10/11 | €3,560,505 | €3,560,505 | = | 0.0% |
| Capital | 10 | €3,560,505 | €3,560,505 | = | 0.0% |
| Issued capital | 100 | €3,560,505 | €3,560,505 | = | 0.0% |
| Reserves | 13 | €468,480 | €468,480 | = | 0.0% |
| Non-distributable reserves | 130/1 | €468,480 | €468,480 | = | 0.0% |
| Legal reserve | 130 | €468,480 | €468,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,882,353 | €54,715,142 | +€1.8m | +3.5% |
| Amounts payable | 17/49 | €35,562,715 | €34,233,018 | -€1.3m | -3.7% |
| Amounts payable after more than one year | 17 | €26,160,815 | €24,023,315 | -€2.1m | -8.2% |
| Other amounts payable | 178/9 | €26,160,815 | €24,023,315 | -€2.1m | -8.2% |
| Amounts payable within one year | 42/48 | €9,372,672 | €10,184,466 | +€811,793 | +8.7% |
| Financial debts | 43 | €9,300,000 | €10,170,650 | +€870,650 | +9.4% |
| Credit institutions | 430/8 | €9,300,000 | €10,170,650 | +€870,650 | +9.4% |
| Trade debts | 44 | €18,829 | €9,843 | -€8,986 | -47.7% |
| Suppliers | 440/4 | €18,829 | €9,843 | -€8,986 | -47.7% |
| Taxes, remuneration and social security | 45 | €2,087 | €3,836 | +€1,749 | +83.8% |
| Taxes | 450/3 | €2,087 | €3,836 | +€1,749 | +83.8% |
| Other amounts payable | 47/48 | €51,756 | €137 | -€51,620 | -99.7% |
| Accrued charges and deferred income | 492/3 | €29,228 | €25,237 | -€3,991 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,294 | €19,600 | +€14,306 | +270.2% |
| Other operating charges | 640/8 | €9,308 | €3,051 | -€6,257 | -67.2% |
| Gross operating margin | 9900 | €51,466 | €33,677 | -€17,790 | -34.6% |
| Operating profit (loss) | 9901 | €36,865 | €11,026 | -€25,839 | -70.1% |
| Financial income | 75/76B | €2,456,996 | €2,098,568 | -€358,427 | -14.6% |
| Recurring financial income | 75 | €1,833,996 | €1,871,554 | +€37,559 | +2.0% |
| Non-recurring financial income | 76B | €623,000 | €227,014 | -€395,986 | -63.6% |
| Financial charges | 65/66B | €382,017 | €274,594 | -€107,422 | -28.1% |
| Recurring financial charges | 65 | €382,017 | €274,594 | -€107,422 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €2,111,844 | €1,835,000 | -€276,844 | -13.1% |
| Income taxes | 67/77 | €1,203 | €2,211 | +€1,008 | +83.8% |
| Profit (loss) for the period | 9904 | €2,110,641 | €1,832,789 | -€277,852 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,110,641 | €1,832,789 | -€277,852 | -13.2% |
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 4 October 2026 via checked.be.