SOWALTREE: 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.
SOWALTREE
Largest movements
- Tangible fixed assets +€705,996
up €705,996 (+13.9%), from €5.1m to €5.8m
of which Land and buildings: +€639,804
- Receivables within one year +€137,746
up €137,746 (+106%), from €129,448 to €267,194
of which Trade receivables: +€72,103
- Contributions +€3.8m
up €3.8m (+167%), from €2.3m to €6.0m
- Other debts -€2.6m
down €2.6m (-69.6%), from €3.7m to €1.1m
- Profit (loss) carried forward -€533,352
down €533,352 (-66.5%), from -€802,133 to -€1.3m
- Trade debts +€139,248
up €139,248 (+327%), from €42,548 to €181,796
- Accrued charges and deferred income +€61,800
up €61,800 (+140%), from €44,211 to €106,011
- Financial charges +€76,078
up €76,078 (+171%), from €44,619 to €120,697
- Depreciation +€61,585
up €61,585 (+22.6%), from €272,148 to €333,732
- Gross operating margin -€16,580
down €16,580 (-31.1%), from -€53,319 to -€69,899
- Other operating charges +€5,831
up €5,831 (+271%), from €2,154 to €7,985
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 | €5,230,126 | €6,076,259 | +€846,133 | +16.2% |
| Fixed assets | 21/28 | €5,095,493 | €5,801,488 | +€705,996 | +13.9% |
| Tangible fixed assets | 22/27 | €5,095,493 | €5,801,488 | +€705,996 | +13.9% |
| Land and buildings | 22 | €4,989,139 | €5,628,943 | +€639,804 | +12.8% |
| Plant, machinery and equipment | 23 | €5,098 | €275 | -€4,823 | -94.6% |
| Furniture and vehicles | 24 | €101,256 | €172,270 | +€71,014 | +70.1% |
| Current assets | 29/58 | €134,634 | €274,771 | +€140,137 | +104% |
| Amounts receivable within one year | 40/41 | €129,448 | €267,194 | +€137,746 | +106% |
| Trade receivables | 40 | €68,780 | €140,883 | +€72,103 | +105% |
| Other amounts receivable | 41 | €60,668 | €126,310 | +€65,643 | +108% |
| Cash at bank and in hand | 54/58 | €3,315 | €7,400 | +€4,085 | +123% |
| Deferred charges and accrued income | 490/1 | €1,871 | €177 | -€1,694 | -90.5% |
| Total equity and liabilities | 10/49 | €5,230,126 | €6,076,259 | +€846,133 | +16.2% |
| Equity | 10/15 | €1,447,867 | €4,664,515 | +€3.2m | +222% |
| Contributions | 10/11 | €2,250,000 | €6,000,000 | +€3.8m | +167% |
| Capital | 10 | €2,250,000 | €6,000,000 | +€3.8m | +167% |
| Issued capital | 100 | €6,000,000 | €6,000,000 | = | 0.0% |
| Uncalled capital | 101 | €3,750,000 | - | -€3.8m | |
| Profit (loss) carried forward | 14 | -€802,133 | -€1,335,485 | -€533,352 | -66.5% |
| Amounts payable | 17/49 | €3,782,259 | €1,411,744 | -€2.4m | -62.7% |
| Amounts payable within one year | 42/48 | €3,738,048 | €1,305,733 | -€2.4m | -65.1% |
| Trade debts | 44 | €42,548 | €181,796 | +€139,248 | +327% |
| Suppliers | 440/4 | €42,548 | €181,796 | +€139,248 | +327% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,695,500 | €1,123,937 | -€2.6m | -69.6% |
| Accrued charges and deferred income | 492/3 | €44,211 | €106,011 | +€61,800 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,148 | €333,732 | +€61,585 | +22.6% |
| Other operating charges | 640/8 | €2,154 | €7,985 | +€5,831 | +271% |
| Non-recurring operating charges | 66A | - | €1,038 | +€1,038 | |
| Gross operating margin | 9900 | -€53,319 | -€69,899 | -€16,580 | -31.1% |
| Operating profit (loss) | 9901 | -€327,620 | -€412,655 | -€85,035 | -26.0% |
| Financial charges | 65/66B | €44,619 | €120,697 | +€76,078 | +171% |
| Recurring financial charges | 65 | €44,619 | €120,697 | +€76,078 | +171% |
| Profit (loss) for the period before taxes | 9903 | -€372,239 | -€533,352 | -€161,112 | -43.3% |
| Profit (loss) for the period | 9904 | -€372,239 | -€533,352 | -€161,112 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€372,239 | -€533,352 | -€161,112 | -43.3% |
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 23 October 2026 via checked.be.