SOCOFE: 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.
What changed
SOCOFE
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€64.5m
2024 · €66.3m-€1.8m
Equity
€886.1m
2024 · €870.0m+€16.1m
Cash
€10.0m
2024 · €8.5m+€1.5m
Balance sheet total
€908.6m
2024 · €891.7m+€16.9m
Largest movements
Assets
- Financial fixed assets +€17.1m
up €17.1m (+2.0%), from €838.2m to €855.3m
of which Companies linked by participating interests: +€10.7m
Equity and liabilities
- Profit (loss) carried forward +€14.4m
up €14.4m (+7.1%), from €201.9m to €216.3m
Income statement
No income-statement line moved by more than 1% of the activity.
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
€66.3m
Staff costs
-€104,680
Depreciation
-€9,239
Provisions
-€9,393
Other operating charges
-€12,515
Other operating items
-€205,506
Financial income
-€1.6m
Financial charges
+€171,897
Taxes
+€34
Result 2025
€64.5m
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.
From operations
+€61.5m
Investment
-€11.6m
Financing
-€48.4m
Cash 2024
€8.5m
From operations (derived)
+€61.5m
Net result for the year
+€64.5m
Depreciation
+€57,858
Receivables after one year
-€700,000
Receivables within one year
-€3.2m
Smaller working-capital items
+€182,863
Other debts
+€599,407
Investment (derived)
-€11.6m
Investment in fixed assets (net)
-€17.4m
Current investments
+€5.8m
Financing
-€48.4m
Contributions, distributions and other
-€48.4m
Cash 2025
€10.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €891,732,539 | €908,618,654 | +€16.9m | +1.9% |
| Fixed assets | 21/28 | €838,448,845 | €855,778,084 | +€17.3m | +2.1% |
| Intangible fixed assets | 21 | €2,118 | - | -€2,118 | |
| Tangible fixed assets | 22/27 | €292,843 | €486,845 | +€194,002 | +66.2% |
| Furniture and vehicles | 24 | €90,517 | €188,617 | +€98,100 | +108.4% |
| Other tangible fixed assets | 26 | €202,326 | €298,228 | +€95,902 | +47.4% |
| Financial fixed assets | 28 | €838,153,884 | €855,291,239 | +€17.1m | +2.0% |
| Affiliated companies | 280/1 | €26,217,120 | €32,618,624 | +€6.4m | +24.4% |
| Participating interests | 280 | €23,369,288 | €29,942,145 | +€6.6m | +28.1% |
| Amounts receivable | 281 | €2,847,832 | €2,676,479 | -€171,353 | -6.0% |
| Companies linked by participating interests | 282/3 | €790,150,944 | €800,886,505 | +€10.7m | +1.4% |
| Participating interests | 282 | €785,736,172 | €796,734,406 | +€11.0m | +1.4% |
| Amounts receivable | 283 | €4,414,773 | €4,152,099 | -€262,673 | -5.9% |
| Other financial fixed assets | 284/8 | €21,785,819 | €21,786,109 | +€291 | 0.0% |
| Shares | 284 | €21,697,156 | €21,697,156 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €88,663 | €88,954 | +€291 | +0.3% |
| Current assets | 29/58 | €53,283,694 | €52,840,570 | -€443,124 | -0.8% |
| Amounts receivable after more than one year | 29 | - | €700,000 | +€700,000 | |
| Other amounts receivable | 291 | - | €700,000 | +€700,000 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €4,291,407 | €7,461,281 | +€3.2m | +73.9% |
| Trade receivables | 40 | €1,058 | €51,294 | +€50,236 | +4746.9% |
| Other amounts receivable | 41 | €4,290,349 | €7,409,987 | +€3.1m | +72.7% |
| Current investments | 50/53 | €40,078,782 | €34,328,782 | -€5.8m | -14.3% |
| Other investments | 51/53 | €40,078,782 | €34,328,782 | -€5.8m | -14.3% |
| Cash at bank and in hand | 54/58 | €8,495,237 | €9,977,538 | +€1.5m | +17.4% |
| Deferred charges and accrued income | 490/1 | €418,267 | €372,969 | -€45,298 | -10.8% |
| Total equity and liabilities | 10/49 | €891,732,539 | €908,618,654 | +€16.9m | +1.9% |
| Equity | 10/15 | €869,964,004 | €886,113,148 | +€16.1m | +1.9% |
| Contributions | 10/11 | €598,368,922 | €598,368,922 | = | 0.0% |
| Capital | 10 | €598,368,922 | €598,368,922 | = | 0.0% |
| Issued capital | 100 | €598,368,922 | €598,368,922 | = | 0.0% |
| Reserves | 13 | €69,738,368 | €71,464,258 | +€1.7m | +2.5% |
| Non-distributable reserves | 130/1 | €43,159,618 | €46,464,258 | +€3.3m | +7.7% |
| Legal reserve | 130 | €43,159,618 | €46,464,258 | +€3.3m | +7.7% |
| Tax-exempt reserves | 132 | €1,578,750 | €0 | -€1.6m | -100.0% |
| Distributable reserves | 133 | €25,000,000 | €25,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,856,714 | €216,279,968 | +€14.4m | +7.1% |
| Provisions and deferred taxes | 16 | €122,616 | €140,622 | +€18,005 | +14.7% |
| Provisions for liabilities and charges | 160/5 | €122,616 | €140,622 | +€18,005 | +14.7% |
| Taxes | 161 | €94,254 | €100,852 | +€6,598 | +7.0% |
| Other liabilities and charges | 164/5 | €28,363 | €39,770 | +€11,407 | +40.2% |
| Amounts payable | 17/49 | €21,645,919 | €22,364,885 | +€718,966 | +3.3% |
| Amounts payable within one year | 42/48 | €21,560,541 | €22,205,242 | +€644,701 | +3.0% |
| Trade debts | 44 | €110,080 | €131,390 | +€21,310 | +19.4% |
| Suppliers | 440/4 | €110,080 | €131,390 | +€21,310 | +19.4% |
| Taxes, remuneration and social security | 45 | €162,094 | €186,078 | +€23,984 | +14.8% |
| Taxes | 450/3 | €0 | €2,299 | +€2,299 | |
| Remuneration and social security | 454/9 | €162,094 | €183,779 | +€21,685 | +13.4% |
| Other amounts payable | 47/48 | €21,288,366 | €21,887,773 | +€599,407 | +2.8% |
| Accrued charges and deferred income | 492/3 | €85,378 | €159,643 | +€74,265 | +87.0% |
| Operating income | 70/76A | €114,440 | €92,189 | -€22,251 | -19.4% |
| Other operating income | 74 | €88,187 | €92,189 | +€4,002 | +4.5% |
| Non-recurring operating income | 76A | €26,253 | - | -€26,253 | |
| Operating charges | 60/66A | €2,307,364 | €2,626,446 | +€319,082 | +13.8% |
| Services and other goods | 61 | €926,526 | €1,110,551 | +€184,025 | +19.9% |
| Remuneration, social security and pensions | 62 | €1,283,803 | €1,388,483 | +€104,680 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,619 | €57,858 | +€9,239 | +19.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,612 | €18,005 | +€9,393 | +109.1% |
| Other operating charges | 640/8 | €39,034 | €51,549 | +€12,515 | +32.1% |
| Non-recurring operating charges | 66A | €770 | - | -€770 | |
| Operating profit (loss) | 9901 | -€2,192,924 | -€2,534,257 | -€341,333 | -15.6% |
| Financial income | 75/76B | €68,653,043 | €67,064,032 | -€1.6m | -2.3% |
| Recurring financial income | 75 | €68,473,544 | €63,306,175 | -€5.2m | -7.5% |
| Income from financial fixed assets | 750 | €67,560,248 | €60,998,329 | -€6.6m | -9.7% |
| Income from current assets | 751 | €913,296 | €957,845 | +€44,549 | +4.9% |
| Other financial income | 752/9 | €0 | €1,350,000 | +€1.4m | |
| Non-recurring financial income | 76B | €179,499 | €3,757,857 | +€3.6m | +1993.5% |
| Financial charges | 65/66B | €186,360 | €14,463 | -€171,897 | -92.2% |
| Recurring financial charges | 65 | €9,438 | €14,463 | +€5,025 | +53.2% |
| Debt charges | 650 | €7,217 | €10,676 | +€3,459 | +47.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €1,071 | +€1,071 | |
| Other financial charges | 652/9 | €2,221 | €2,716 | +€495 | +22.3% |
| Non-recurring financial charges | 66B | €176,922 | - | -€176,922 | |
| Profit (loss) for the period before taxes | 9903 | €66,273,760 | €64,515,312 | -€1.8m | -2.7% |
| Income taxes | 67/77 | €1,284 | €1,250 | -€34 | -2.7% |
| Taxes | 670/3 | €1,284 | €1,250 | -€34 | -2.7% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €66,272,475 | €64,514,062 | -€1.8m | -2.7% |
| Transfer from tax-exempt reserves | 789 | €421,000 | €1,578,750 | +€1.2m | +275.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,693,475 | €66,092,812 | -€600,663 | -0.9% |
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 7 October 2026 via checked.be.