S.O.D.E.I.M.: 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
S.O.D.E.I.M.
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€151,140
2024 · €232,562-€81,422
Equity
€5.8m
2024 · €6.9m-€1.0m
Cash
€65,188
2024 · €134,590-€69,402
Balance sheet total
€12.7m
2024 · €14.2m-€1.4m
Largest movements
Assets
- Tangible fixed assets -€1.7m
down €1.7m (-13.3%), from €12.7m to €11.0m
- Receivables within one year +€359,266
up €359,266 (+42.8%), from €839,531 to €1.2m
Equity and liabilities
- Revaluation surpluses -€1.3m
down €1.3m (-27.4%), from €4.8m to €3.5m
- Debts after one year -€439,728
down €439,728 (-6.6%), from €6.7m to €6.3m
- Profit (loss) carried forward +€151,140
up €151,140 (+14.8%), from €1.0m to €1.2m
Income statement
- Depreciation +€135,866
up €135,866 (+35.5%), from €383,143 to €519,009
- Financial income +€32,125
up €32,125 (+44.3%), from €72,581 to €104,706
- Turnover +€27,792
up €27,792 (+3.1%), from €896,480 to €924,271
- Gross operating margin +€22,744
up €22,744 (+2.5%), from €898,276 to €921,019
- Taxes +€11,540
up €11,540 (+7.3%), from €157,074 to €168,614
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
€232,562
Gross operating margin
+€22,744
Depreciation
-€135,866
Other operating charges
-€44
Financial income
+€32,125
Financial charges
+€11,159
Taxes
-€11,540
Result 2025
€151,140
raises the resultlowers the result
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
+€358,723
Investment
+€1.2m
Financing
-€1.6m
Cash 2024
€134,590
From operations (derived)
+€358,723
Net result for the year
+€151,140
Depreciation
+€519,009
Receivables within one year
-€359,266
Deferred charges and accrued income
+€38,000
Smaller working-capital items
-€1,700
Tax, wage and social debts
+€11,540
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.2m
Financing
-€1.6m
Debts after one year
-€439,728
Current portion of long-term debt
+€11,603
Contributions, distributions and other
-€1.2m
Cash 2025
€65,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,164,922 | €12,720,086 | -€1.4m | -10.2% |
| Fixed assets | 21/28 | €12,725,300 | €11,028,600 | -€1.7m | -13.3% |
| Tangible fixed assets | 22/27 | €12,725,300 | €11,028,600 | -€1.7m | -13.3% |
| Land and buildings | 22 | €12,725,300 | €11,028,600 | -€1.7m | -13.3% |
| Current assets | 29/58 | €1,439,622 | €1,691,486 | +€251,864 | +17.5% |
| Amounts receivable within one year | 40/41 | €839,531 | €1,198,798 | +€359,266 | +42.8% |
| Other amounts receivable | 41 | €839,531 | €1,198,798 | +€359,266 | +42.8% |
| Cash at bank and in hand | 54/58 | €134,590 | €65,188 | -€69,402 | -51.6% |
| Deferred charges and accrued income | 490/1 | €465,500 | €427,500 | -€38,000 | -8.2% |
| Total equity and liabilities | 10/49 | €14,164,922 | €12,720,086 | -€1.4m | -10.2% |
| Equity | 10/15 | €6,868,808 | €5,842,257 | -€1.0m | -14.9% |
| Contributions | 10/11 | €533,000 | €533,000 | = | 0.0% |
| Capital | 10 | €533,000 | €533,000 | = | 0.0% |
| Issued capital | 100 | €533,000 | €533,000 | = | 0.0% |
| Revaluation surpluses | 12 | €4,799,750 | €3,486,202 | -€1.3m | -27.4% |
| Reserves | 13 | €516,957 | €652,814 | +€135,857 | +26.3% |
| Non-distributable reserves | 130/1 | €145,117 | €145,117 | = | 0.0% |
| Legal reserve | 130 | €145,117 | €145,117 | = | 0.0% |
| Distributable reserves | 133 | €371,840 | €507,697 | +€135,857 | +36.5% |
| Profit (loss) carried forward | 14 | €1,019,100 | €1,170,241 | +€151,140 | +14.8% |
| Amounts payable | 17/49 | €7,296,115 | €6,877,829 | -€418,286 | -5.7% |
| Amounts payable after more than one year | 17 | €6,693,801 | €6,254,074 | -€439,728 | -6.6% |
| Financial debts | 170/4 | €6,693,801 | €6,254,074 | -€439,728 | -6.6% |
| Amounts payable within one year | 42/48 | €586,167 | €608,342 | +€22,175 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €428,125 | €439,728 | +€11,603 | +2.7% |
| Trade debts | 44 | €968 | - | -€968 | |
| Suppliers | 440/4 | €968 | - | -€968 | |
| Taxes, remuneration and social security | 45 | €157,074 | €168,614 | +€11,540 | +7.3% |
| Taxes | 450/3 | €157,074 | €168,614 | +€11,540 | +7.3% |
| Accrued charges and deferred income | 492/3 | €16,147 | €15,414 | -€733 | -4.5% |
| Turnover | 70 | €896,480 | €924,271 | +€27,792 | +3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,122 | €3,673 | +€1,552 | +73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €383,143 | €519,009 | +€135,866 | +35.5% |
| Other operating charges | 640/8 | €1,376 | €1,420 | +€44 | +3.2% |
| Gross operating margin | 9900 | €898,276 | €921,019 | +€22,744 | +2.5% |
| Operating profit (loss) | 9901 | €513,757 | €400,590 | -€113,166 | -22.0% |
| Financial income | 75/76B | €72,581 | €104,706 | +€32,125 | +44.3% |
| Recurring financial income | 75 | €72,581 | €104,706 | +€32,125 | +44.3% |
| Financial charges | 65/66B | €196,701 | €185,542 | -€11,159 | -5.7% |
| Recurring financial charges | 65 | €196,701 | €185,542 | -€11,159 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €389,636 | €319,754 | -€69,882 | -17.9% |
| Income taxes | 67/77 | €157,074 | €168,614 | +€11,540 | +7.3% |
| Profit (loss) for the period | 9904 | €232,562 | €151,140 | -€81,422 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €232,562 | €151,140 | -€81,422 | -35.0% |
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 30 October 2026 via checked.be.