So-EU: 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.
So-EU
Largest movements
- Cash +€32,401
up €32,401 (+39.3%), from €82,495 to €114,895
mainly Net result for the year (+€55,425) and Depreciation (+€389)
- Receivables within one year +€14,499
up €14,499 (+23.7%), from €61,139 to €75,638
of which Other amounts receivable: +€28,359
- Reserves +€55,425
up €55,425 (+58.7%), from €94,361 to €149,787
- Trade debts -€7,387
down €7,387 (-85.5%), from €8,637 to €1,250
- Gross operating margin +€19,426
up €19,426 (+33.2%), from €58,448 to €77,874
- Turnover +€12,724
up €12,724 (+9.6%), from €132,830 to €145,554
- Purchases and services -€6,702
down €6,702 (-9.0%), from €74,382 to €67,680
- Taxes +€5,423
up €5,423 (+33.8%), from €16,058 to €21,481
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 | €145,065 | €191,576 | +€46,511 | +32.1% |
| Fixed assets | 21/28 | €1,222 | €832 | -€389 | -31.9% |
| Tangible fixed assets | 22/27 | €1,222 | €832 | -€389 | -31.9% |
| Furniture and vehicles | 24 | €1,222 | €832 | -€389 | -31.9% |
| Current assets | 29/58 | €143,843 | €190,743 | +€46,900 | +32.6% |
| Amounts receivable within one year | 40/41 | €61,139 | €75,638 | +€14,499 | +23.7% |
| Trade receivables | 40 | €36,826 | €22,967 | -€13,860 | -37.6% |
| Other amounts receivable | 41 | €24,313 | €52,672 | +€28,359 | +117% |
| Cash at bank and in hand | 54/58 | €82,495 | €114,895 | +€32,401 | +39.3% |
| Deferred charges and accrued income | 490/1 | €210 | €210 | = | 0.0% |
| Total equity and liabilities | 10/49 | €145,065 | €191,576 | +€46,511 | +32.1% |
| Equity | 10/15 | €97,361 | €152,787 | +€55,425 | +56.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €94,361 | €149,787 | +€55,425 | +58.7% |
| Distributable reserves | 133 | €94,361 | €149,787 | +€55,425 | +58.7% |
| Amounts payable | 17/49 | €47,704 | €38,789 | -€8,915 | -18.7% |
| Amounts payable within one year | 42/48 | €47,704 | €38,789 | -€8,915 | -18.7% |
| Trade debts | 44 | €8,637 | €1,250 | -€7,387 | -85.5% |
| Suppliers | 440/4 | €8,637 | €1,250 | -€7,387 | -85.5% |
| Taxes, remuneration and social security | 45 | €39,067 | €37,539 | -€1,527 | -3.9% |
| Taxes | 450/3 | €39,067 | €37,539 | -€1,527 | -3.9% |
| Turnover | 70 | €132,830 | €145,554 | +€12,724 | +9.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €74,382 | €67,680 | -€6,702 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €296 | €389 | +€94 | +31.6% |
| Other operating charges | 640/8 | €451 | €523 | +€72 | +15.9% |
| Non-recurring operating charges | 66A | €818 | - | -€818 | |
| Gross operating margin | 9900 | €58,448 | €77,874 | +€19,426 | +33.2% |
| Operating profit (loss) | 9901 | €56,882 | €76,962 | +€20,079 | +35.3% |
| Financial charges | 65/66B | €51 | €56 | +€5 | +8.8% |
| Recurring financial charges | 65 | €51 | €56 | +€5 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €56,831 | €76,906 | +€20,075 | +35.3% |
| Income taxes | 67/77 | €16,058 | €21,481 | +€5,423 | +33.8% |
| Profit (loss) for the period | 9904 | €40,773 | €55,425 | +€14,652 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,773 | €55,425 | +€14,652 | +35.9% |
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 26 October 2026 via checked.be.