SOCAGIM: 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.
SOCAGIM
Largest movements
- Tangible fixed assets +€188,628
up €188,628 (+20.5%), from €918,704 to €1.1m
- Cash -€103,059
down €103,059 (-74.3%), from €138,668 to €35,609
mainly Investment in fixed assets (net) (-€219,881) and Contributions, distributions and other (-€115,638)
- Receivables within one year -€17,258
down €17,258 (-97.6%), from €17,679 to €421
- Reserves +€204,097
up €204,097 (+996%), from €20,498 to €224,595
of which Non-distributable reserves: +€219,735
- Profit (loss) carried forward -€112,146
down €112,146 (-21.2%), from €528,887 to €416,740
- Debts after one year -€37,769
down €37,769 (-11.1%), from €340,922 to €303,153
- Other debts +€15,638
up €15,638 (+15.6%), from €100,000 to €115,638
- Gross operating margin +€87,794
up €87,794 (+34.4%), from €255,158 to €342,952
- Taxes +€18,388
up €18,388 (+36.2%), from €50,808 to €69,196
- Depreciation +€8,261
up €8,261 (+35.9%), from €22,992 to €31,253
- Other operating charges +€4,411
up €4,411 (+36.1%), from €12,214 to €16,626
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 | €1,075,051 | €1,153,362 | +€78,311 | +7.3% |
| Fixed assets | 21/28 | €918,704 | €1,107,331 | +€188,628 | +20.5% |
| Tangible fixed assets | 22/27 | €918,704 | €1,107,331 | +€188,628 | +20.5% |
| Land and buildings | 22 | €918,704 | €1,107,331 | +€188,628 | +20.5% |
| Current assets | 29/58 | €156,347 | €46,030 | -€110,317 | -70.6% |
| Amounts receivable within one year | 40/41 | €17,679 | €421 | -€17,258 | -97.6% |
| Other amounts receivable | 41 | €17,679 | €421 | -€17,258 | -97.6% |
| Cash at bank and in hand | 54/58 | €138,668 | €35,609 | -€103,059 | -74.3% |
| Deferred charges and accrued income | 490/1 | - | €10,000 | +€10,000 | |
| Total equity and liabilities | 10/49 | €1,075,051 | €1,153,362 | +€78,311 | +7.3% |
| Equity | 10/15 | €597,979 | €689,930 | +€91,950 | +15.4% |
| Contributions | 10/11 | €36,200 | €36,200 | = | 0.0% |
| Reserves | 13 | €20,498 | €224,595 | +€204,097 | +996% |
| Non-distributable reserves | 130/1 | - | €219,735 | +€219,735 | |
| Financial assistance | 1313 | - | €219,735 | +€219,735 | |
| Distributable reserves | 133 | €20,498 | €4,860 | -€15,638 | -76.3% |
| Profit (loss) carried forward | 14 | €528,887 | €416,740 | -€112,146 | -21.2% |
| Investment grants | 15 | €12,395 | €12,395 | = | 0.0% |
| Amounts payable | 17/49 | €477,071 | €463,432 | -€13,640 | -2.9% |
| Amounts payable after more than one year | 17 | €340,922 | €303,153 | -€37,769 | -11.1% |
| Financial debts | 170/4 | €340,922 | €303,153 | -€37,769 | -11.1% |
| Amounts payable within one year | 42/48 | €136,150 | €157,488 | +€21,338 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €36,150 | €37,769 | +€1,619 | +4.5% |
| Taxes, remuneration and social security | 45 | - | €4,081 | +€4,081 | |
| Taxes | 450/3 | - | €4,081 | +€4,081 | |
| Other amounts payable | 47/48 | €100,000 | €115,638 | +€15,638 | +15.6% |
| Accrued charges and deferred income | 492/3 | - | €2,791 | +€2,791 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,992 | €31,253 | +€8,261 | +35.9% |
| Other operating charges | 640/8 | €12,214 | €16,626 | +€4,411 | +36.1% |
| Gross operating margin | 9900 | €255,158 | €342,952 | +€87,794 | +34.4% |
| Operating profit (loss) | 9901 | €219,951 | €295,073 | +€75,122 | +34.2% |
| Financial income | 75/76B | €765 | €385 | -€379 | -49.6% |
| Recurring financial income | 75 | €765 | €385 | -€379 | -49.6% |
| Financial charges | 65/66B | €17,485 | €18,674 | +€1,189 | +6.8% |
| Recurring financial charges | 65 | €17,485 | €18,674 | +€1,189 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €203,231 | €276,785 | +€73,554 | +36.2% |
| Income taxes | 67/77 | €50,808 | €69,196 | +€18,388 | +36.2% |
| Profit (loss) for the period | 9904 | €152,423 | €207,589 | +€55,165 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €152,423 | €207,589 | +€55,165 | +36.2% |
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 27 October 2026 via checked.be.