SODEGO: 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.
SODEGO
Largest movements
- Tangible fixed assets +€519,293
up €519,293 (+113.9%), from €455,931 to €975,224
of which Land and buildings: +€317,872
- Receivables within one year -€87,322
down €87,322 (-51.2%), from €170,424 to €83,103
of which Trade receivables: -€90,569
- Cash +€38,503
up €38,503 (+770.1%), from €5,000 to €43,503
mainly Debts after one year (+€524,882) and Receivables within one year (+€87,322)
- Debts after one year +€524,882
up €524,882 (+181.9%), from €288,575 to €813,457
- Short-term financial debts -€77,725
down €77,725 (-75.7%), from €102,725 to €25,000
- Reserves +€55,537
up €55,537 (+131.4%), from €42,266 to €97,803
of which Distributable reserves: +€55,537
- Current portion of long-term debt +€33,028
up €33,028 (+119.4%), from €27,666 to €60,694
- Trade debts -€26,832
down €26,832 (-41.0%), from €65,481 to €38,648
- Gross operating margin +€164,270
up €164,270 (+53.4%), from €307,827 to €472,097
- Write-downs +€47,720
up €47,720, from €0 to €47,720
- Staff costs +€41,249
up €41,249 (+17.3%), from €238,127 to €279,376
- Depreciation +€19,647
up €19,647 (+95.5%), from €20,568 to €40,215
- Financial charges +€9,795
up €9,795 (+53.2%), from €18,397 to €28,192
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
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 | €648,346 | €1,125,829 | +€477,482 | +73.6% |
| Fixed assets | 21/28 | €456,081 | €975,224 | +€519,142 | +113.8% |
| Intangible fixed assets | 21 | €150 | €0 | -€150 | -100.0% |
| Tangible fixed assets | 22/27 | €455,931 | €975,224 | +€519,293 | +113.9% |
| Land and buildings | 22 | €413,574 | €731,447 | +€317,872 | +76.9% |
| Plant, machinery and equipment | 23 | €36,864 | €85,910 | +€49,046 | +133.0% |
| Furniture and vehicles | 24 | €5,492 | €14,000 | +€8,507 | +154.9% |
| Leasing and similar rights | 25 | - | €143,867 | +€143,867 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €192,265 | €150,605 | -€41,660 | -21.7% |
| Stocks and contracts in progress | 3 | €5,841 | €5,841 | = | 0.0% |
| Stocks | 30/36 | €5,841 | €5,841 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €170,424 | €83,103 | -€87,322 | -51.2% |
| Trade receivables | 40 | €170,424 | €79,855 | -€90,569 | -53.1% |
| Other amounts receivable | 41 | - | €3,247 | +€3,247 | |
| Current investments | 50/53 | €3,308 | €9,337 | +€6,028 | +182.2% |
| Cash at bank and in hand | 54/58 | €5,000 | €43,503 | +€38,503 | +770.1% |
| Deferred charges and accrued income | 490/1 | €7,691 | €8,821 | +€1,130 | +14.7% |
| Total equity and liabilities | 10/49 | €648,346 | €1,125,829 | +€477,482 | +73.6% |
| Equity | 10/15 | €54,666 | €110,203 | +€55,537 | +101.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €42,266 | €97,803 | +€55,537 | +131.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,406 | €95,943 | +€55,537 | +137.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €593,680 | €1,015,626 | +€421,946 | +71.1% |
| Amounts payable after more than one year | 17 | €288,575 | €813,457 | +€524,882 | +181.9% |
| Financial debts | 170/4 | €288,575 | €813,457 | +€524,882 | +181.9% |
| Amounts payable within one year | 42/48 | €303,825 | €202,169 | -€101,656 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €27,666 | €60,694 | +€33,028 | +119.4% |
| Financial debts | 43 | €102,725 | €25,000 | -€77,725 | -75.7% |
| Credit institutions | 430/8 | €102,725 | €25,000 | -€77,725 | -75.7% |
| Trade debts | 44 | €65,481 | €38,648 | -€26,832 | -41.0% |
| Suppliers | 440/4 | €65,481 | €38,648 | -€26,832 | -41.0% |
| Taxes, remuneration and social security | 45 | €93,112 | €77,827 | -€15,285 | -16.4% |
| Taxes | 450/3 | €57,703 | €42,725 | -€14,979 | -26.0% |
| Remuneration and social security | 454/9 | €35,408 | €35,102 | -€307 | -0.9% |
| Other amounts payable | 47/48 | €14,841 | €0 | -€14,841 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,281 | €0 | -€1,281 | -100.0% |
| Non-recurring operating income | 76A | - | €25,426 | +€25,426 | |
| Remuneration, social security and pensions | 62 | €238,127 | €279,376 | +€41,249 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,568 | €40,215 | +€19,647 | +95.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €47,720 | +€47,720 | |
| Other operating charges | 640/8 | €5,812 | €2,320 | -€3,492 | -60.1% |
| Gross operating margin | 9900 | €307,827 | €472,097 | +€164,270 | +53.4% |
| Operating profit (loss) | 9901 | €43,320 | €102,466 | +€59,146 | +136.5% |
| Financial income | 75/76B | €8 | €417 | +€409 | +5244.4% |
| Recurring financial income | 75 | €8 | €417 | +€409 | +5244.4% |
| Financial charges | 65/66B | €18,397 | €28,192 | +€9,795 | +53.2% |
| Recurring financial charges | 65 | €18,397 | €28,192 | +€9,795 | +53.2% |
| Profit (loss) for the period before taxes | 9903 | €24,931 | €74,691 | +€49,760 | +199.6% |
| Income taxes | 67/77 | €9,775 | €19,154 | +€9,379 | +95.9% |
| Profit (loss) for the period | 9904 | €15,156 | €55,537 | +€40,381 | +266.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,156 | €55,537 | +€40,381 | +266.4% |
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 6 October 2026 via checked.be.