SOCIETE DE GESTION: 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.
SOCIETE DE GESTION
Largest movements
- Intangible fixed assets -€118,243
down €118,243 (-7.6%), from €1.6m to €1.4m
- Cash +€71,453
up €71,453 (+661%), from €10,808 to €82,261
mainly Investment in fixed assets (net) (+€100,240) and Depreciation (+€31,767)
- Current portion of long-term debt -€37,889
down €37,889 (-38.7%), from €97,889 to €60,000
- Trade debts -€32,266
down €32,266 (-59.0%), from €54,649 to €22,383
- Other debts -€18,934
down €18,934 (-1.4%), from €1.3m to €1.3m
- Profit (loss) carried forward +€18,516
up €18,516 (+48.4%), from -€38,285 to -€19,769
- Other operating charges +€17,319
up €17,319 (+1,908%), from €908 to €18,227
- Taxes +€13,148
new in 2025: €13,148
- Gross operating margin -€7,303
down €7,303 (-8.0%), from €91,326 to €84,023
- Depreciation -€2,746
down €2,746 (-8.0%), from €34,513 to €31,767
- Financial charges -€1,620
down €1,620 (-40.7%), from €3,986 to €2,365
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 | €1,743,025 | €1,678,789 | -€64,237 | -3.7% |
| Fixed assets | 21/28 | €1,718,845 | €1,586,837 | -€132,008 | -7.7% |
| Intangible fixed assets | 21 | €1,559,422 | €1,441,179 | -€118,243 | -7.6% |
| Tangible fixed assets | 22/27 | €159,323 | €145,559 | -€13,764 | -8.6% |
| Land and buildings | 22 | €49,235 | €49,235 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,160 | €2,935 | -€224 | -7.1% |
| Furniture and vehicles | 24 | €10,000 | €10,000 | = | 0.0% |
| Other tangible fixed assets | 26 | €96,929 | €83,389 | -€13,540 | -14.0% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €24,181 | €91,951 | +€67,771 | +280% |
| Amounts receivable within one year | 40/41 | €8,051 | €8,051 | = | 0.0% |
| Other amounts receivable | 41 | €8,051 | €8,051 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,808 | €82,261 | +€71,453 | +661% |
| Deferred charges and accrued income | 490/1 | €5,321 | €1,639 | -€3,682 | -69.2% |
| Total equity and liabilities | 10/49 | €1,743,025 | €1,678,789 | -€64,237 | -3.7% |
| Equity | 10/15 | €157,947 | €176,463 | +€18,516 | +11.7% |
| Contributions | 10/11 | €161,552 | €161,552 | = | 0.0% |
| Capital | 10 | €161,552 | €161,552 | = | 0.0% |
| Issued capital | 100 | €161,552 | €161,552 | = | 0.0% |
| Reserves | 13 | €34,680 | €34,680 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,234 | €19,234 | = | 0.0% |
| Distributable reserves | 133 | €9,296 | €9,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,285 | -€19,769 | +€18,516 | +48.4% |
| Amounts payable | 17/49 | €1,585,079 | €1,502,325 | -€82,753 | -5.2% |
| Amounts payable after more than one year | 17 | €71,351 | €71,351 | = | 0.0% |
| Financial debts | 170/4 | €71,351 | €71,351 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,475,247 | €1,391,666 | -€83,581 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €97,889 | €60,000 | -€37,889 | -38.7% |
| Trade debts | 44 | €54,649 | €22,383 | -€32,266 | -59.0% |
| Suppliers | 440/4 | €54,649 | €22,383 | -€32,266 | -59.0% |
| Taxes, remuneration and social security | 45 | - | €5,507 | +€5,507 | |
| Taxes | 450/3 | - | €5,507 | +€5,507 | |
| Other amounts payable | 47/48 | €1,322,710 | €1,303,776 | -€18,934 | -1.4% |
| Accrued charges and deferred income | 492/3 | €38,480 | €39,308 | +€828 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,513 | €31,767 | -€2,746 | -8.0% |
| Other operating charges | 640/8 | €908 | €18,227 | +€17,319 | +1,908% |
| Gross operating margin | 9900 | €91,326 | €84,023 | -€7,303 | -8.0% |
| Operating profit (loss) | 9901 | €55,905 | €34,029 | -€21,876 | -39.1% |
| Financial charges | 65/66B | €3,986 | €2,365 | -€1,620 | -40.7% |
| Recurring financial charges | 65 | €3,986 | €2,365 | -€1,620 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €51,920 | €31,664 | -€20,256 | -39.0% |
| Income taxes | 67/77 | - | €13,148 | +€13,148 | |
| Profit (loss) for the period | 9904 | €51,920 | €18,516 | -€33,403 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,920 | €18,516 | -€33,403 | -64.3% |
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 22 October 2026 via checked.be.