SOVE: what changed
What changed
SOVE
filed annual accounts (NBB)
Net result for the year
€38,257
2024 · €5,107+€33,150
Equity
€423,278
2024 · €385,021+€38,257
Cash
€15,907
2024 · €27,365-€11,458
Balance sheet total
€547,443
2024 · €776,786-€229,343
Largest movements
Assets
- Tangible fixed assets -€219,032
down €219,032 (-29.3%), from €748,421 to €529,389
- Cash -€11,458
down €11,458 (-41.9%), from €27,365 to €15,907
mainly Debts after one year (-€250,000) and Other debts (-€36,131)
Equity and liabilities
- Debts after one year -€250,000
down €250,000 (-71.4%), from €350,000 to €100,000
- Reserves +€38,257
up €38,257 (+118%), from €32,521 to €70,778
of which Tax-exempt reserves: +€37,500
- Other debts -€36,131
down €36,131 (-91.3%), from €39,595 to €3,464
- Provisions +€12,500
new in 2025: €12,500
Income statement
- Gross operating margin +€60,054
up €60,054 (+426%), from €14,101 to €74,155
- Financial charges +€16,680
up €16,680 (+14,632%), from €114 to €16,794
- Taxes -€2,030
down €2,030 (-85.2%), from €2,383 to €353
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.
Result 2024
€5,107
Gross operating margin
+€60,054
Other operating charges
+€247
Financial income
-€1
Financial charges
-€16,680
Taxes
+€2,030
Deferred taxes and other
-€12,500
Result 2025
€38,257
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€19,510
Investment
+€219,032
Financing
-€250,000
Cash 2024
€27,365
From operations (derived)
+€19,510
Net result for the year
+€38,257
Receivables within one year
-€2,147
Deferred charges and accrued income
+€1,000
Provisions
+€12,500
Trade debts
-€387
Tax, wage and social debts
+€4,971
Other debts
-€36,131
Accrued charges and deferred income
+€1,447
Investment (derived)
+€219,032
Investment in fixed assets (net)
+€219,032
Financing
-€250,000
Debts after one year
-€250,000
Cash 2025
€15,907
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €776,786 | €547,443 | -€229,343 | -29.5% |
| Fixed assets | 21/28 | €748,421 | €529,389 | -€219,032 | -29.3% |
| Tangible fixed assets | 22/27 | €748,421 | €529,389 | -€219,032 | -29.3% |
| Land and buildings | 22 | €748,421 | €529,389 | -€219,032 | -29.3% |
| Current assets | 29/58 | €28,365 | €18,054 | -€10,311 | -36.4% |
| Amounts receivable within one year | 40/41 | - | €2,147 | +€2,147 | |
| Other amounts receivable | 41 | - | €2,147 | +€2,147 | |
| Cash at bank and in hand | 54/58 | €27,365 | €15,907 | -€11,458 | -41.9% |
| Deferred charges and accrued income | 490/1 | €1,000 | - | -€1,000 | |
| Total equity and liabilities | 10/49 | €776,786 | €547,443 | -€229,343 | -29.5% |
| Equity | 10/15 | €385,021 | €423,278 | +€38,257 | +9.9% |
| Contributions | 10/11 | €352,500 | €352,500 | = | 0.0% |
| Capital | 10 | €352,500 | €352,500 | = | 0.0% |
| Issued capital | 100 | €352,500 | €352,500 | = | 0.0% |
| Reserves | 13 | €32,521 | €70,778 | +€38,257 | +118% |
| Non-distributable reserves | 130/1 | €4,895 | €5,652 | +€757 | +15.5% |
| Legal reserve | 130 | €4,895 | €5,652 | +€757 | +15.5% |
| Tax-exempt reserves | 132 | - | €37,500 | +€37,500 | |
| Distributable reserves | 133 | €27,626 | €27,626 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €12,500 | +€12,500 | |
| Deferred taxes | 168 | - | €12,500 | +€12,500 | |
| Amounts payable | 17/49 | €391,765 | €111,665 | -€280,100 | -71.5% |
| Amounts payable after more than one year | 17 | €350,000 | €100,000 | -€250,000 | -71.4% |
| Other amounts payable | 178/9 | €350,000 | €100,000 | -€250,000 | -71.4% |
| Amounts payable within one year | 42/48 | €40,615 | €9,068 | -€31,547 | -77.7% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Taxes, remuneration and social security | 45 | €633 | €5,604 | +€4,971 | +785% |
| Taxes | 450/3 | €633 | €5,604 | +€4,971 | +785% |
| Other amounts payable | 47/48 | €39,595 | €3,464 | -€36,131 | -91.3% |
| Accrued charges and deferred income | 492/3 | €1,150 | €2,597 | +€1,447 | +126% |
| Other operating charges | 640/8 | €6,499 | €6,252 | -€247 | -3.8% |
| Gross operating margin | 9900 | €14,101 | €74,155 | +€60,054 | +426% |
| Operating profit (loss) | 9901 | €7,602 | €67,903 | +€60,301 | +793% |
| Financial income | 75/76B | €2 | €1 | -€1 | -50.0% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -50.0% |
| Financial charges | 65/66B | €114 | €16,794 | +€16,680 | +14,632% |
| Recurring financial charges | 65 | €114 | €16,794 | +€16,680 | +14,632% |
| Profit (loss) for the period before taxes | 9903 | €7,490 | €51,110 | +€43,620 | +582% |
| Transfer to deferred taxes | 680 | - | €12,500 | +€12,500 | |
| Income taxes | 67/77 | €2,383 | €353 | -€2,030 | -85.2% |
| Profit (loss) for the period | 9904 | €5,107 | €38,257 | +€33,150 | +649% |
| Transfer to tax-exempt reserves | 689 | - | €37,500 | +€37,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,107 | €757 | -€4,350 | -85.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.