SOBELPAC: 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.
What changed
SOBELPAC
NACE 46.642, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,888
2024 · -€9,439+€15,326
Equity
€1.4m
2024 · €1.4m+€5,888
Cash
€264,503
2024 · €408,715-€144,212
Balance sheet total
€3.5m
2024 · €2.1m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+1,114%), from €120,660 to €1.5m
of which Land and buildings: +€1.3m
- Receivables within one year +€152,535
up €152,535 (+16.9%), from €902,490 to €1.1m
of which Trade receivables: +€157,478
- Cash -€144,212
down €144,212 (-35.3%), from €408,715 to €264,503
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€152,535)
- Stocks and contracts +€58,351
up €58,351 (+9.2%), from €634,071 to €692,422
Equity and liabilities
- Debts after one year +€699,726
up €699,726 (+2,599%), from €26,919 to €726,646
- Short-term financial debts +€508,179
new in 2025: €508,179
- Trade debts +€103,809
up €103,809 (+20.5%), from €507,099 to €610,908
- Current portion of long-term debt +€71,171
up €71,171 (+406%), from €17,550 to €88,722
Income statement
- Write-downs -€50,883
down €50,883 (-88.6%), from €57,426 to €6,543
- Gross operating margin +€42,798
up €42,798 (+9.3%), from €462,473 to €505,272
- Other operating charges +€40,331
up €40,331 (+437%), from €9,221 to €49,552
- Staff costs +€36,256
up €36,256 (+12.0%), from €302,909 to €339,165
- Financial charges +€8,594
up €8,594 (+38.1%), from €22,549 to €31,143
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.
Result 2024
-€9,439
Gross operating margin
+€42,798
Staff costs
-€36,256
Depreciation
+€879
Write-downs
+€50,883
Other operating charges
-€40,331
Other operating items
+€9,973
Financial income
-€1,326
Financial charges
-€8,594
Taxes
-€2,700
Result 2025
€5,888
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€22,313
Investment
-€1.4m
Financing
+€1.3m
Cash 2024
€408,715
From operations (derived)
-€22,313
Net result for the year
+€5,888
Depreciation
+€66,214
Receivables after one year
+€10,785
Stocks and contracts
-€58,351
Receivables within one year
-€152,535
Deferred charges and accrued income
-€16,024
Trade debts
+€103,809
Tax, wage and social debts
+€17,805
Accrued charges and deferred income
+€96
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€1.3m
Debts after one year
+€699,726
Current portion of long-term debt
+€71,171
Short-term financial debts
+€508,179
Cash 2025
€264,503
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,114,579 | €3,521,254 | +€1.4m | +66.5% |
| Fixed assets | 21/28 | €142,130 | €1,476,892 | +€1.3m | +939% |
| Intangible fixed assets | 21 | €18,121 | €11,609 | -€6,512 | -35.9% |
| Tangible fixed assets | 22/27 | €120,660 | €1,465,282 | +€1.3m | +1,114% |
| Land and buildings | 22 | €79,916 | €1,427,731 | +€1.3m | +1,687% |
| Plant, machinery and equipment | 23 | €38,771 | €27,369 | -€11,402 | -29.4% |
| Furniture and vehicles | 24 | €1,973 | €10,182 | +€8,209 | +416% |
| Financial fixed assets | 28 | €3,348 | €0 | -€3,348 | -100% |
| Current assets | 29/58 | €1,972,450 | €2,044,362 | +€71,912 | +3.6% |
| Amounts receivable after more than one year | 29 | €15,376 | €4,590 | -€10,785 | -70.1% |
| Other amounts receivable | 291 | €15,376 | €4,590 | -€10,785 | -70.1% |
| Stocks and contracts in progress | 3 | €634,071 | €692,422 | +€58,351 | +9.2% |
| Stocks | 30/36 | €634,071 | €692,422 | +€58,351 | +9.2% |
| Amounts receivable within one year | 40/41 | €902,490 | €1,055,025 | +€152,535 | +16.9% |
| Trade receivables | 40 | €849,626 | €1,007,103 | +€157,478 | +18.5% |
| Other amounts receivable | 41 | €52,864 | €47,921 | -€4,943 | -9.4% |
| Cash at bank and in hand | 54/58 | €408,715 | €264,503 | -€144,212 | -35.3% |
| Deferred charges and accrued income | 490/1 | €11,799 | €27,823 | +€16,024 | +136% |
| Total equity and liabilities | 10/49 | €2,114,579 | €3,521,254 | +€1.4m | +66.5% |
| Equity | 10/15 | €1,393,813 | €1,399,700 | +€5,888 | +0.4% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,112,400 | €1,112,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €1,100,000 | €1,100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,413 | €163,300 | +€5,888 | +3.7% |
| Provisions and deferred taxes | 16 | €50,000 | €50,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €50,000 | €50,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €670,766 | €2,071,553 | +€1.4m | +209% |
| Amounts payable after more than one year | 17 | €26,919 | €726,646 | +€699,726 | +2,599% |
| Financial debts | 170/4 | €26,919 | €726,646 | +€699,726 | +2,599% |
| Amounts payable within one year | 42/48 | €642,362 | €1,343,326 | +€700,964 | +109% |
| Current portion of amounts payable after more than one year | 42 | €17,550 | €88,722 | +€71,171 | +406% |
| Financial debts | 43 | - | €508,179 | +€508,179 | |
| Credit institutions | 430/8 | - | €508,179 | +€508,179 | |
| Trade debts | 44 | €507,099 | €610,908 | +€103,809 | +20.5% |
| Suppliers | 440/4 | €507,099 | €610,908 | +€103,809 | +20.5% |
| Taxes, remuneration and social security | 45 | €117,713 | €135,518 | +€17,805 | +15.1% |
| Taxes | 450/3 | €50,279 | €60,526 | +€10,247 | +20.4% |
| Remuneration and social security | 454/9 | €67,434 | €74,992 | +€7,559 | +11.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,485 | €1,581 | +€96 | +6.5% |
| Non-recurring operating income | 76A | €37,483 | €16,979 | -€20,504 | -54.7% |
| Remuneration, social security and pensions | 62 | €302,909 | €339,165 | +€36,256 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,093 | €66,214 | -€879 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €57,426 | €6,543 | -€50,883 | -88.6% |
| Other operating charges | 640/8 | €9,221 | €49,552 | +€40,331 | +437% |
| Non-recurring operating charges | 66A | €11,349 | €1,376 | -€9,973 | -87.9% |
| Gross operating margin | 9900 | €462,473 | €505,272 | +€42,798 | +9.3% |
| Operating profit (loss) | 9901 | €14,476 | €42,423 | +€27,947 | +193% |
| Financial income | 75/76B | €3,034 | €1,708 | -€1,326 | -43.7% |
| Recurring financial income | 75 | €3,034 | €1,708 | -€1,326 | -43.7% |
| Financial charges | 65/66B | €22,549 | €31,143 | +€8,594 | +38.1% |
| Recurring financial charges | 65 | €22,549 | €31,143 | +€8,594 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,039 | €12,988 | +€18,026 | |
| Income taxes | 67/77 | €4,400 | €7,100 | +€2,700 | +61.4% |
| Profit (loss) for the period | 9904 | -€9,439 | €5,888 | +€15,326 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,439 | €5,888 | +€15,326 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.