Sodecon: what changed
Sodecon
Largest movements
- Tangible fixed assets +€587,380
up €587,380 (+60.6%), from €969,513 to €1.6m
of which Plant, machinery and equipment: +€658,285
- Cash +€487,010
up €487,010 (+120%), from €406,478 to €893,488
mainly Accrued charges and deferred income (+€512,406) and Net result for the year (+€381,992)
- Receivables within one year +€379,654
up €379,654 (+48.0%), from €790,277 to €1.2m
of which Trade receivables: +€368,030
- Stocks and contracts -€137,017
down €137,017 (-75.6%), from €181,277 to €44,260
of which Contracts in progress: -€135,975
- Accrued charges and deferred income +€512,406
up €512,406 (+878%), from €58,353 to €570,759
- Reserves +€366,423
up €366,423 (+60.0%), from €610,819 to €977,243
of which Distributable reserves: +€366,423
- Trade debts +€176,815
up €176,815 (+61.4%), from €287,916 to €464,731
- Current portion of long-term debt +€120,605
up €120,605 (+88.1%), from €136,842 to €257,446
- Debts after one year +€108,182
up €108,182 (+9.7%), from €1.1m to €1.2m
of which Financial debts: +€248,182
- Gross operating margin +€358,854
up €358,854 (+42.6%), from €841,668 to €1.2m
- Staff costs +€209,768
up €209,768 (+104%), from €202,248 to €412,016
- Depreciation +€143,446
up €143,446 (+161%), from €88,831 to €232,277
- Financial charges +€58,239
up €58,239 (+298%), from €19,516 to €77,755
- Taxes -€20,037
down €20,037 (-17.3%), from €115,878 to €95,840
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,366,913 | €3,700,652 | +€1.3m | +56.3% |
| Fixed assets | 21/28 | €975,101 | €1,569,775 | +€594,674 | +61.0% |
| Intangible fixed assets | 21 | - | €7,206 | +€7,206 | |
| Tangible fixed assets | 22/27 | €969,513 | €1,556,893 | +€587,380 | +60.6% |
| Plant, machinery and equipment | 23 | €816,265 | €1,474,550 | +€658,285 | +80.6% |
| Furniture and vehicles | 24 | €53,881 | €82,343 | +€28,462 | +52.8% |
| Assets under construction and advance payments | 27 | €99,367 | - | -€99,367 | |
| Financial fixed assets | 28 | €5,588 | €5,676 | +€88 | +1.6% |
| Current assets | 29/58 | €1,391,812 | €2,130,877 | +€739,066 | +53.1% |
| Stocks and contracts in progress | 3 | €181,277 | €44,260 | -€137,017 | -75.6% |
| Stocks | 30/36 | €45,302 | €44,260 | -€1,042 | -2.3% |
| Contracts in progress | 37 | €135,975 | - | -€135,975 | |
| Amounts receivable within one year | 40/41 | €790,277 | €1,169,930 | +€379,654 | +48.0% |
| Trade receivables | 40 | €686,999 | €1,055,029 | +€368,030 | +53.6% |
| Other amounts receivable | 41 | €103,278 | €114,901 | +€11,623 | +11.3% |
| Current investments | 50/53 | €150 | €150 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €406,478 | €893,488 | +€487,010 | +120% |
| Deferred charges and accrued income | 490/1 | €13,629 | €23,049 | +€9,420 | +69.1% |
| Total equity and liabilities | 10/49 | €2,366,913 | €3,700,652 | +€1.3m | +56.3% |
| Equity | 10/15 | €672,319 | €1,038,743 | +€366,423 | +54.5% |
| 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 | €610,819 | €977,243 | +€366,423 | +60.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €604,669 | €971,093 | +€366,423 | +60.6% |
| Amounts payable | 17/49 | €1,694,593 | €2,661,910 | +€967,316 | +57.1% |
| Amounts payable after more than one year | 17 | €1,117,679 | €1,225,861 | +€108,182 | +9.7% |
| Financial debts | 170/4 | €877,679 | €1,125,861 | +€248,182 | +28.3% |
| Other amounts payable | 178/9 | €240,000 | €100,000 | -€140,000 | -58.3% |
| Amounts payable within one year | 42/48 | €518,562 | €865,290 | +€346,729 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €136,842 | €257,446 | +€120,605 | +88.1% |
| Financial debts | 43 | €25,348 | €25,252 | -€96 | -0.4% |
| Credit institutions | 430/8 | €25,348 | €25,252 | -€96 | -0.4% |
| Trade debts | 44 | €287,916 | €464,731 | +€176,815 | +61.4% |
| Suppliers | 440/4 | €287,916 | €464,731 | +€176,815 | +61.4% |
| Taxes, remuneration and social security | 45 | €61,531 | €102,292 | +€40,761 | +66.2% |
| Taxes | 450/3 | €21,339 | €27,490 | +€6,151 | +28.8% |
| Remuneration and social security | 454/9 | €40,192 | €74,802 | +€34,610 | +86.1% |
| Other amounts payable | 47/48 | €6,925 | €15,569 | +€8,644 | +125% |
| Accrued charges and deferred income | 492/3 | €58,353 | €570,759 | +€512,406 | +878% |
| Remuneration, social security and pensions | 62 | €202,248 | €412,016 | +€209,768 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,831 | €232,277 | +€143,446 | +161% |
| Other operating charges | 640/8 | €1,226 | €2,230 | +€1,004 | +81.9% |
| Gross operating margin | 9900 | €841,668 | €1,200,522 | +€358,854 | +42.6% |
| Operating profit (loss) | 9901 | €549,362 | €553,999 | +€4,637 | +0.8% |
| Financial income | 75/76B | €112 | €1,589 | +€1,476 | +1,313% |
| Recurring financial income | 75 | €112 | €1,589 | +€1,476 | +1,313% |
| Financial charges | 65/66B | €19,516 | €77,755 | +€58,239 | +298% |
| Recurring financial charges | 65 | €19,516 | €77,755 | +€58,239 | +298% |
| Profit (loss) for the period before taxes | 9903 | €529,958 | €477,833 | -€52,126 | -9.8% |
| Income taxes | 67/77 | €115,878 | €95,840 | -€20,037 | -17.3% |
| Profit (loss) for the period | 9904 | €414,081 | €381,992 | -€32,088 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €414,081 | €381,992 | -€32,088 | -7.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.