SOYEUR & PONCIN: 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.
SOYEUR & PONCIN
Largest movements
- Intangible fixed assets -€178,847
down €178,847 (-20.3%), from €880,234 to €701,387
- Current investments -€103,173
down €103,173 (-19.1%), from €541,420 to €438,246
- Cash +€71,573
up €71,573 (+12.4%), from €578,359 to €649,932
mainly Net result for the year (+€584,444) and Depreciation (+€211,152)
- Receivables within one year -€63,563
down €63,563 (-35.8%), from €177,568 to €114,005
of which Other amounts receivable: -€65,212
- Tangible fixed assets -€31,486
down €31,486 (-15.2%), from €206,872 to €175,386
of which Land and buildings: -€16,524
- Debts after one year -€192,089
down €192,089 (-22.3%), from €859,729 to €667,639
- Tax, wage and social debts -€115,208
down €115,208 (-68.7%), from €167,593 to €52,384
of which Taxes: -€116,100
- Reserves +€55,000
up €55,000 (+11.3%), from €485,000 to €540,000
of which Distributable reserves: +€55,000
- Accrued charges and deferred income -€28,170
down €28,170 (-96.9%), from €29,071 to €901
- Gross operating margin +€181,446
up €181,446 (+12.9%), from €1.4m to €1.6m
- Staff costs +€103,967
up €103,967 (+22.4%), from €463,669 to €567,636
- Taxes +€19,585
up €19,585 (+10.6%), from €185,435 to €205,020
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 | €2,401,346 | €2,098,612 | -€302,734 | -12.6% |
| Fixed assets | 21/28 | €1,087,557 | €877,937 | -€209,619 | -19.3% |
| Intangible fixed assets | 21 | €880,234 | €701,387 | -€178,847 | -20.3% |
| Tangible fixed assets | 22/27 | €206,872 | €175,386 | -€31,486 | -15.2% |
| Land and buildings | 22 | €149,044 | €132,520 | -€16,524 | -11.1% |
| Plant, machinery and equipment | 23 | €28,770 | €23,511 | -€5,258 | -18.3% |
| Furniture and vehicles | 24 | €29,059 | €19,355 | -€9,704 | -33.4% |
| Financial fixed assets | 28 | €450 | €1,164 | +€714 | +159% |
| Current assets | 29/58 | €1,313,789 | €1,220,674 | -€93,115 | -7.1% |
| Amounts receivable within one year | 40/41 | €177,568 | €114,005 | -€63,563 | -35.8% |
| Trade receivables | 40 | €1 | €1,650 | +€1,649 | +198,657% |
| Other amounts receivable | 41 | €177,567 | €112,356 | -€65,212 | -36.7% |
| Current investments | 50/53 | €541,420 | €438,246 | -€103,173 | -19.1% |
| Cash at bank and in hand | 54/58 | €578,359 | €649,932 | +€71,573 | +12.4% |
| Deferred charges and accrued income | 490/1 | €16,442 | €18,490 | +€2,048 | +12.5% |
| Total equity and liabilities | 10/49 | €2,401,346 | €2,098,612 | -€302,734 | -12.6% |
| Equity | 10/15 | €520,407 | €574,850 | +€54,444 | +10.5% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €485,000 | €540,000 | +€55,000 | +11.3% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €481,900 | €536,900 | +€55,000 | +11.4% |
| Profit (loss) carried forward | 14 | €4,407 | €3,850 | -€556 | -12.6% |
| Amounts payable | 17/49 | €1,880,939 | €1,523,761 | -€357,178 | -19.0% |
| Amounts payable after more than one year | 17 | €859,729 | €667,639 | -€192,089 | -22.3% |
| Financial debts | 170/4 | €859,729 | €667,639 | -€192,089 | -22.3% |
| Amounts payable within one year | 42/48 | €992,139 | €855,221 | -€136,918 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €201,029 | €200,023 | -€1,005 | -0.5% |
| Trade debts | 44 | €91,640 | €68,489 | -€23,151 | -25.3% |
| Suppliers | 440/4 | €91,640 | €68,489 | -€23,151 | -25.3% |
| Taxes, remuneration and social security | 45 | €167,593 | €52,384 | -€115,208 | -68.7% |
| Taxes | 450/3 | €116,127 | €26 | -€116,100 | -100.0% |
| Remuneration and social security | 454/9 | €51,466 | €52,358 | +€892 | +1.7% |
| Other amounts payable | 47/48 | €531,879 | €534,325 | +€2,446 | +0.5% |
| Accrued charges and deferred income | 492/3 | €29,071 | €901 | -€28,170 | -96.9% |
| Remuneration, social security and pensions | 62 | €463,669 | €567,636 | +€103,967 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,185 | €211,152 | +€3,967 | +1.9% |
| Other operating charges | 640/8 | €5,707 | €8,416 | +€2,708 | +47.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,407,546 | €1,588,992 | +€181,446 | +12.9% |
| Operating profit (loss) | 9901 | €730,985 | €801,788 | +€70,803 | +9.7% |
| Financial income | 75/76B | €9,990 | €5,302 | -€4,689 | -46.9% |
| Recurring financial income | 75 | €9,990 | €5,302 | -€4,689 | -46.9% |
| Financial charges | 65/66B | €23,098 | €17,626 | -€5,471 | -23.7% |
| Recurring financial charges | 65 | €23,098 | €17,626 | -€5,471 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €717,878 | €789,464 | +€71,586 | +10.0% |
| Income taxes | 67/77 | €185,435 | €205,020 | +€19,585 | +10.6% |
| Profit (loss) for the period | 9904 | €532,443 | €584,444 | +€52,001 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €532,443 | €584,444 | +€52,001 | +9.8% |
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 31 October 2026 via checked.be.