SOFIVAL: what changed
SOFIVAL
Largest movements
- Financial fixed assets +€8.9m
up €8.9m (+875%), from €1.0m to €10.0m
- Cash -€304,997
down €304,997 (-85.5%), from €356,861 to €51,864
mainly Investment in fixed assets (net) (-€8.9m) and Other debts (-€248,137)
- Revaluation surpluses +€8.9m
new in 2025: €8.9m
- Profit (loss) carried forward -€2.3m
no longer reported in 2025 (was €2.3m)
- Reserves +€1.9m
up €1.9m (+92.7%), from €2.0m to €3.9m
of which Distributable reserves: +€1.9m
- Tax, wage and social debts +€283,211
new in 2025: €283,211
- Other debts -€248,137
down €248,137 (-75.7%), from €327,664 to €79,527
- Financial income +€1.4m
up €1.4m (+87.0%), from €1.7m to €3.1m
- Taxes +€232,635
up €232,635 (+337%), from €69,106 to €301,741
- Financial charges -€49,715
down €49,715, from €40,953 to -€8,762
- Gross operating margin -€7,117
down €7,117 (-38.0%), from -€18,708 to -€25,825
- Depreciation -€4,952
down €4,952 (-74.6%), from €6,639 to €1,687
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,402,624 | €13,918,106 | +€8.5m | +158% |
| Fixed assets | 21/28 | €1,027,896 | €9,973,051 | +€8.9m | +870% |
| Tangible fixed assets | 22/27 | €5,638 | €3,951 | -€1,687 | -29.9% |
| Plant, machinery and equipment | 23 | €5,638 | €3,951 | -€1,687 | -29.9% |
| Financial fixed assets | 28 | €1,022,258 | €9,969,100 | +€8.9m | +875% |
| Current assets | 29/58 | €4,374,728 | €3,945,055 | -€429,673 | -9.8% |
| Amounts receivable within one year | 40/41 | €12,774 | - | -€12,774 | |
| Other amounts receivable | 41 | €12,774 | - | -€12,774 | |
| Current investments | 50/53 | €4,005,093 | €3,893,191 | -€111,902 | -2.8% |
| Cash at bank and in hand | 54/58 | €356,861 | €51,864 | -€304,997 | -85.5% |
| Total equity and liabilities | 10/49 | €5,402,624 | €13,918,106 | +€8.5m | +158% |
| Equity | 10/15 | €5,073,668 | €13,555,038 | +€8.5m | +167% |
| Contributions | 10/11 | €756,075 | €756,075 | = | 0.0% |
| Capital | 10 | €756,075 | €756,075 | = | 0.0% |
| Issued capital | 100 | €756,075 | €756,075 | = | 0.0% |
| Revaluation surpluses | 12 | - | €8,946,842 | +€8.9m | |
| Reserves | 13 | €1,999,076 | €3,852,121 | +€1.9m | +92.7% |
| Non-distributable reserves | 130/1 | €75,620 | €75,620 | = | 0.0% |
| Legal reserve | 130 | €75,608 | €75,608 | = | 0.0% |
| Other | 1319 | €12 | €12 | = | 0.0% |
| Distributable reserves | 133 | €1,923,456 | €3,776,501 | +€1.9m | +96.3% |
| Profit (loss) carried forward | 14 | €2,318,517 | - | -€2.3m | |
| Amounts payable | 17/49 | €328,956 | €363,068 | +€34,112 | +10.4% |
| Amounts payable within one year | 42/48 | €328,956 | €363,068 | +€34,112 | +10.4% |
| Trade debts | 44 | €1,292 | €330 | -€962 | -74.5% |
| Suppliers | 440/4 | €1,292 | €330 | -€962 | -74.5% |
| Taxes, remuneration and social security | 45 | - | €283,211 | +€283,211 | |
| Taxes | 450/3 | - | €283,211 | +€283,211 | |
| Other amounts payable | 47/48 | €327,664 | €79,527 | -€248,137 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,639 | €1,687 | -€4,952 | -74.6% |
| Other operating charges | 640/8 | €1,593 | €1,639 | +€46 | +2.9% |
| Gross operating margin | 9900 | -€18,708 | -€25,825 | -€7,117 | -38.0% |
| Operating profit (loss) | 9901 | -€26,940 | -€29,151 | -€2,211 | -8.2% |
| Financial income | 75/76B | €1,661,657 | €3,107,818 | +€1.4m | +87.0% |
| Recurring financial income | 75 | €1,661,657 | €3,107,818 | +€1.4m | +87.0% |
| Financial charges | 65/66B | €40,953 | -€8,762 | -€49,715 | |
| Recurring financial charges | 65 | €40,953 | -€8,762 | -€49,715 | |
| Profit (loss) for the period before taxes | 9903 | €1,593,764 | €3,087,429 | +€1.5m | +93.7% |
| Income taxes | 67/77 | €69,106 | €301,741 | +€232,635 | +337% |
| Profit (loss) for the period | 9904 | €1,524,658 | €2,785,688 | +€1.3m | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,524,658 | €2,785,688 | +€1.3m | +82.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.