SODEBA: 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.
SODEBA
Largest movements
- Current investments +€63.1m
up €63.1m (+5348.7%), from €1.2m to €64.3m
of which Other investments: +€56.2m
- Cash +€1.9m
up €1.9m (+107.6%), from €1.8m to €3.6m
- Financial fixed assets -€840,769
down €840,769 (-7.3%), from €11.6m to €10.7m
of which Affiliated companies: -€10.8m
- Profit (loss) carried forward +€50.7m
up €50.7m (+883.9%), from €5.7m to €56.4m
- Reserves +€7.3m
up €7.3m (+1820.6%), from €400,491 to €7.7m
- Debts after one year +€6.3m
up €6.3m (+7759.9%), from €81,426 to €6.4m
- Financial income +€55.8m
up €55.8m (+1390.5%), from €4.0m to €59.8m
of which Non-recurring financial income: +€58.3m
- Services and other goods +€862,743
up €862,743 (+2150.4%), from €40,119 to €902,862
- Financial charges +€198,301
up €198,301 (+1771.0%), from €11,197 to €209,498
- Taxes +€144,206
up €144,206 (+703.6%), from €20,495 to €164,701
- Turnover +€84,500
up €84,500 (+73.2%), from €115,500 to €200,000
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,519,409 | €79,301,144 | +€64.8m | +446.2% |
| Fixed assets | 21/28 | €11,576,830 | €10,736,061 | -€840,769 | -7.3% |
| Financial fixed assets | 28 | €11,576,830 | €10,736,061 | -€840,769 | -7.3% |
| Affiliated companies | 280/1 | €11,576,830 | €736,061 | -€10.8m | -93.6% |
| Participating interests | 280 | €11,576,830 | €736,061 | -€10.8m | -93.6% |
| Other financial fixed assets | 284/8 | - | €10,000,000 | +€10.0m | |
| Amounts receivable and cash guarantees | 285/8 | - | €10,000,000 | +€10.0m | |
| Current assets | 29/58 | €2,942,579 | €68,565,083 | +€65.6m | +2230.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €5,432 | €351,810 | +€346,378 | +6376.7% |
| Other amounts receivable | 41 | €5,432 | €351,810 | +€346,378 | +6376.7% |
| Current investments | 50/53 | €1,180,000 | €64,294,471 | +€63.1m | +5348.7% |
| Own shares | 50 | - | €6,938,790 | +€6.9m | |
| Other investments | 51/53 | €1,180,000 | €57,355,681 | +€56.2m | +4760.7% |
| Cash at bank and in hand | 54/58 | €1,757,147 | €3,648,046 | +€1.9m | +107.6% |
| Deferred charges and accrued income | 490/1 | - | €270,756 | +€270,756 | |
| Total equity and liabilities | 10/49 | €14,519,409 | €79,301,144 | +€64.8m | +446.2% |
| Equity | 10/15 | €13,661,001 | €71,605,462 | +€57.9m | +424.2% |
| Contributions | 10/11 | €7,530,085 | €7,530,085 | = | 0.0% |
| Capital | 10 | €7,530,085 | €7,530,085 | = | 0.0% |
| Issued capital | 100 | €7,530,085 | €7,530,085 | = | 0.0% |
| Reserves | 13 | €400,491 | €7,691,799 | +€7.3m | +1820.6% |
| Non-distributable reserves | 130/1 | €400,491 | €7,691,799 | +€7.3m | +1820.6% |
| Legal reserve | 130 | €400,491 | €753,009 | +€352,518 | +88.0% |
| Own shares acquired | 1312 | - | €6,938,790 | +€6.9m | |
| Profit (loss) carried forward | 14 | €5,730,426 | €56,383,578 | +€50.7m | +883.9% |
| Amounts payable | 17/49 | €858,407 | €7,695,682 | +€6.8m | +796.5% |
| Amounts payable after more than one year | 17 | €81,426 | €6,400,000 | +€6.3m | +7759.9% |
| Financial debts | 170/4 | €81,426 | €6,400,000 | +€6.3m | +7759.9% |
| Credit institutions | 173 | €81,426 | €0 | -€81,426 | -100.0% |
| Other loans | 174 | €0 | €6,400,000 | +€6.4m | |
| Amounts payable within one year | 42/48 | €776,981 | €1,295,682 | +€518,700 | +66.8% |
| Current portion of amounts payable after more than one year | 42 | €81,429 | €450,000 | +€368,571 | +452.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,014 | €42,392 | +€38,378 | +956.1% |
| Suppliers | 440/4 | €4,014 | €42,392 | +€38,378 | +956.1% |
| Taxes, remuneration and social security | 45 | €0 | €2,165 | +€2,165 | |
| Taxes | 450/3 | €0 | €2,165 | +€2,165 | |
| Other amounts payable | 47/48 | €691,538 | €801,125 | +€109,587 | +15.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €115,500 | €200,000 | +€84,500 | +73.2% |
| Turnover | 70 | €115,500 | €200,000 | +€84,500 | +73.2% |
| Operating charges | 60/66A | €41,179 | €903,875 | +€862,696 | +2095.0% |
| Services and other goods | 61 | €40,119 | €902,862 | +€862,743 | +2150.4% |
| Other operating charges | 640/8 | €1,060 | €1,013 | -€47 | -4.4% |
| Operating profit (loss) | 9901 | €74,321 | -€703,875 | -€778,196 | |
| Financial income | 75/76B | €4,013,666 | €59,823,660 | +€55.8m | +1390.5% |
| Recurring financial income | 75 | €4,013,666 | €1,542,635 | -€2.5m | -61.6% |
| Income from financial fixed assets | 750 | €3,995,320 | €769,589 | -€3.2m | -80.7% |
| Income from current assets | 751 | €18,346 | €657,315 | +€638,969 | +3482.8% |
| Other financial income | 752/9 | €0 | €115,730 | +€115,730 | +289325550.0% |
| Non-recurring financial income | 76B | - | €58,281,025 | +€58.3m | |
| Financial charges | 65/66B | €11,197 | €209,498 | +€198,301 | +1771.0% |
| Recurring financial charges | 65 | €11,197 | €209,498 | +€198,301 | +1771.0% |
| Debt charges | 650 | €10,106 | €6,415 | -€3,691 | -36.5% |
| Other financial charges | 652/9 | €1,092 | €203,083 | +€201,992 | +18505.2% |
| Profit (loss) for the period before taxes | 9903 | €4,076,790 | €58,910,287 | +€54.8m | +1345.0% |
| Income taxes | 67/77 | €20,495 | €164,701 | +€144,206 | +703.6% |
| Taxes | 670/3 | €20,495 | €164,701 | +€144,206 | +703.6% |
| Profit (loss) for the period | 9904 | €4,056,295 | €58,745,586 | +€54.7m | +1348.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,056,295 | €58,745,586 | +€54.7m | +1348.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.