SOCARO: what changed
Two fiscal 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.
SOCARO
Largest movements
- Tangible fixed assets -€51,752
down €51,752 (-2.8%), from €1.9m to €1.8m
- Reserves -€39,970
down €39,970 (-3.6%), from €1.1m to €1.1m
of which Tax-exempt reserves: -€28,980
- Other debts +€20,973
up €20,973 (+5.5%), from €384,118 to €405,091
- Debts after one year -€20,616
down €20,616 (-32.8%), from €62,881 to €42,265
- Gross operating margin -€1,727
down €1,727 (-4.5%), from €38,305 to €36,577
- Other operating charges +€1,563
up €1,563 (+13.0%), from €12,051 to €13,615
- Financial income -€1,200
no longer reported in 2025 (was €1,200)
of which Non-recurring financial income: -€1,200
- Financial charges -€992
down €992 (-27.6%), from €3,601 to €2,608
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.
Cash bridge derived
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 | €1,870,998 | €1,821,008 | -€49,989 | -2.7% |
| Fixed assets | 21/28 | €1,867,963 | €1,816,211 | -€51,752 | -2.8% |
| Tangible fixed assets | 22/27 | €1,866,963 | €1,815,211 | -€51,752 | -2.8% |
| Land and buildings | 22 | €1,866,963 | €1,815,211 | -€51,752 | -2.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €3,034 | €4,797 | +€1,762 | +58.1% |
| Amounts receivable within one year | 40/41 | €0 | - | -€0 | |
| Other amounts receivable | 41 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €3,034 | €4,797 | +€1,762 | +58.1% |
| Total equity and liabilities | 10/49 | €1,870,998 | €1,821,008 | -€49,989 | -2.7% |
| Equity | 10/15 | €1,161,993 | €1,122,023 | -€39,970 | -3.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,100,493 | €1,060,523 | -€39,970 | -3.6% |
| Non-distributable reserves | 130/1 | €22,310 | €22,310 | = | 0.0% |
| Legal reserve | 130 | €22,310 | €22,310 | = | 0.0% |
| Tax-exempt reserves | 132 | €519,654 | €490,674 | -€28,980 | -5.6% |
| Distributable reserves | 133 | €558,529 | €547,539 | -€10,990 | -2.0% |
| Provisions and deferred taxes | 16 | €237,724 | €228,063 | -€9,660 | -4.1% |
| Deferred taxes | 168 | €237,724 | €228,063 | -€9,660 | -4.1% |
| Amounts payable | 17/49 | €471,281 | €470,922 | -€359 | -0.1% |
| Amounts payable after more than one year | 17 | €62,881 | €42,265 | -€20,616 | -32.8% |
| Financial debts | 170/4 | €62,881 | €42,265 | -€20,616 | -32.8% |
| Amounts payable within one year | 42/48 | €408,400 | €428,657 | +€20,257 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €24,283 | €20,616 | -€3,667 | -15.1% |
| Trade debts | 44 | - | €2,950 | +€2,950 | |
| Suppliers | 440/4 | - | €2,950 | +€2,950 | |
| Other amounts payable | 47/48 | €384,118 | €405,091 | +€20,973 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,775 | €69,985 | +€209 | +0.3% |
| Other operating charges | 640/8 | €12,051 | €13,615 | +€1,563 | +13.0% |
| Gross operating margin | 9900 | €38,305 | €36,577 | -€1,727 | -4.5% |
| Operating profit (loss) | 9901 | -€43,522 | -€47,022 | -€3,500 | -8.0% |
| Financial income | 75/76B | €1,200 | - | -€1,200 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €1,200 | - | -€1,200 | |
| Financial charges | 65/66B | €3,601 | €2,608 | -€992 | -27.6% |
| Recurring financial charges | 65 | €3,601 | €2,608 | -€992 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,923 | -€49,630 | -€3,708 | -8.1% |
| Transfer from deferred taxes | 780 | €13,279 | €9,660 | -€3,619 | -27.3% |
| Profit (loss) for the period | 9904 | -€32,643 | -€39,970 | -€7,327 | -22.4% |
| Transfer from tax-exempt reserves | 789 | €29,829 | €28,980 | -€849 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,814 | -€10,990 | -€8,176 | -290.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.