SODEFIN: 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.
SODEFIN
Largest movements
- Tangible fixed assets +€6.4m
up €6.4m (+208%), from €3.1m to €9.4m
of which Land and buildings: +€6.4m
- Revaluation surpluses +€6.4m
up €6.4m (+834%), from €773,516 to €7.2m
- Debts after one year -€204,970
down €204,970 (-51.9%), from €394,596 to €189,625
- Profit (loss) carried forward +€124,507
up €124,507 (+7.0%), from -€1.8m to -€1.7m
- Gross operating margin +€20,311
up €20,311 (+6.8%), from €298,126 to €318,436
- Depreciation +€9,427
up €9,427 (+6.2%), from €152,251 to €161,678
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 | €3,135,204 | €9,520,530 | +€6.4m | +204% |
| Fixed assets | 21/28 | €3,053,831 | €9,407,149 | +€6.4m | +208% |
| Tangible fixed assets | 22/27 | €3,053,831 | €9,407,149 | +€6.4m | +208% |
| Land and buildings | 22 | €3,049,587 | €9,400,000 | +€6.4m | +208% |
| Plant, machinery and equipment | 23 | €4,244 | €7,149 | +€2,905 | +68.5% |
| Current assets | 29/58 | €81,373 | €113,381 | +€32,008 | +39.3% |
| Cash at bank and in hand | 54/58 | €64,729 | €98,696 | +€33,967 | +52.5% |
| Deferred charges and accrued income | 490/1 | €16,644 | €14,685 | -€1,959 | -11.8% |
| Total equity and liabilities | 10/49 | €3,135,204 | €9,520,530 | +€6.4m | +204% |
| Equity | 10/15 | €2,490,784 | €9,063,818 | +€6.6m | +264% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Revaluation surpluses | 12 | €773,516 | €7,222,042 | +€6.4m | +834% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,784,591 | -€1,660,084 | +€124,507 | +7.0% |
| Amounts payable | 17/49 | €644,419 | €456,712 | -€187,708 | -29.1% |
| Amounts payable after more than one year | 17 | €394,596 | €189,625 | -€204,970 | -51.9% |
| Financial debts | 170/4 | €394,596 | €189,625 | -€204,970 | -51.9% |
| Amounts payable within one year | 42/48 | €232,520 | €244,454 | +€11,934 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €219,843 | €221,963 | +€2,120 | +1.0% |
| Trade debts | 44 | €97 | €9,502 | +€9,405 | +9,698% |
| Suppliers | 440/4 | €97 | €9,502 | +€9,405 | +9,698% |
| Other amounts payable | 47/48 | €12,580 | €12,990 | +€410 | +3.3% |
| Accrued charges and deferred income | 492/3 | €17,304 | €22,632 | +€5,329 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,251 | €161,678 | +€9,427 | +6.2% |
| Other operating charges | 640/8 | €27,035 | €27,902 | +€867 | +3.2% |
| Gross operating margin | 9900 | €298,126 | €318,436 | +€20,311 | +6.8% |
| Operating profit (loss) | 9901 | €118,840 | €128,857 | +€10,017 | +8.4% |
| Financial income | 75/76B | €71 | €902 | +€831 | +1,173% |
| Recurring financial income | 75 | €71 | €902 | +€831 | +1,173% |
| Financial charges | 65/66B | €7,216 | €5,251 | -€1,965 | -27.2% |
| Recurring financial charges | 65 | €7,216 | €5,251 | -€1,965 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €111,694 | €124,507 | +€12,813 | +11.5% |
| Profit (loss) for the period | 9904 | €111,694 | €124,507 | +€12,813 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €111,694 | €124,507 | +€12,813 | +11.5% |
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 15 October 2026 via checked.be.