SODEMAL: 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.
SODEMAL
Largest movements
- Receivables within one year -€308,908
down €308,908 (-89.5%), from €345,235 to €36,327
of which Trade receivables: -€312,774
- Current investments +€245,215
up €245,215 (+61.2%), from €400,496 to €645,711
- Cash +€162,798
up €162,798 (+331%), from €49,247 to €212,045
mainly Receivables within one year (+€308,908) and Net result for the year (+€74,260)
- Stocks and contracts -€59,415
down €59,415 (-3.3%), from €1.8m to €1.8m
of which Contracts in progress: -€73,050
- Profit (loss) carried forward +€74,260
up €74,260 (+5.1%), from €1.5m to €1.5m
- Advances received -€65,000
down €65,000 (-61.9%), from €105,000 to €40,000
- Provisions +€37,164
up €37,164 (+162%), from €22,998 to €60,162
- Gross operating margin +€106,340
up €106,340 (+21.9%), from €486,400 to €592,740
- Provisions +€57,254
up €57,254, from -€20,090 to €37,164
- Staff costs +€16,839
up €16,839 (+4.1%), from €415,090 to €431,929
- Financial charges -€8,399
down €8,399 (-16.5%), from €50,838 to €42,439
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,650,930 | €2,710,900 | +€59,970 | +2.3% |
| Fixed assets | 21/28 | €44,041 | €64,321 | +€20,280 | +46.0% |
| Tangible fixed assets | 22/27 | €43,589 | €63,869 | +€20,280 | +46.5% |
| Land and buildings | 22 | €38,795 | €38,795 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €11,111 | +€11,111 | |
| Other tangible fixed assets | 26 | €4,794 | €13,963 | +€9,169 | +191% |
| Financial fixed assets | 28 | €452 | €452 | = | 0.0% |
| Current assets | 29/58 | €2,606,889 | €2,646,579 | +€39,690 | +1.5% |
| Stocks and contracts in progress | 3 | €1,811,911 | €1,752,496 | -€59,415 | -3.3% |
| Stocks | 30/36 | €1,334,089 | €1,347,724 | +€13,635 | +1.0% |
| Contracts in progress | 37 | €477,822 | €404,772 | -€73,050 | -15.3% |
| Amounts receivable within one year | 40/41 | €345,235 | €36,327 | -€308,908 | -89.5% |
| Trade receivables | 40 | €333,324 | €20,550 | -€312,774 | -93.8% |
| Other amounts receivable | 41 | €11,911 | €15,777 | +€3,866 | +32.5% |
| Current investments | 50/53 | €400,496 | €645,711 | +€245,215 | +61.2% |
| Cash at bank and in hand | 54/58 | €49,247 | €212,045 | +€162,798 | +331% |
| Total equity and liabilities | 10/49 | €2,650,930 | €2,710,900 | +€59,970 | +2.3% |
| Equity | 10/15 | €1,799,136 | €1,873,396 | +€74,260 | +4.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €274,950 | €274,950 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,462,186 | €1,536,446 | +€74,260 | +5.1% |
| Provisions and deferred taxes | 16 | €22,998 | €60,162 | +€37,164 | +162% |
| Provisions for liabilities and charges | 160/5 | €22,998 | €60,162 | +€37,164 | +162% |
| Other liabilities and charges | 164/5 | €22,998 | €60,162 | +€37,164 | +162% |
| Amounts payable | 17/49 | €828,796 | €777,342 | -€51,454 | -6.2% |
| Amounts payable within one year | 42/48 | €828,796 | €777,342 | -€51,454 | -6.2% |
| Trade debts | 44 | €44,399 | €57,293 | +€12,894 | +29.0% |
| Suppliers | 440/4 | €44,399 | €57,293 | +€12,894 | +29.0% |
| Advances received on contracts in progress | 46 | €105,000 | €40,000 | -€65,000 | -61.9% |
| Taxes, remuneration and social security | 45 | €62,377 | €67,694 | +€5,317 | +8.5% |
| Taxes | 450/3 | €17,886 | €15,287 | -€2,599 | -14.5% |
| Remuneration and social security | 454/9 | €44,491 | €52,407 | +€7,916 | +17.8% |
| Other amounts payable | 47/48 | €617,020 | €612,355 | -€4,665 | -0.8% |
| Remuneration, social security and pensions | 62 | €415,090 | €431,929 | +€16,839 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,050 | €5,939 | +€4,889 | +466% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€692 | - | +€692 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,090 | €37,164 | +€57,254 | |
| Other operating charges | 640/8 | €8,333 | €8,571 | +€238 | +2.9% |
| Gross operating margin | 9900 | €486,400 | €592,740 | +€106,340 | +21.9% |
| Operating profit (loss) | 9901 | €82,709 | €109,137 | +€26,428 | +32.0% |
| Financial income | 75/76B | €5,187 | €8,319 | +€3,132 | +60.4% |
| Recurring financial income | 75 | €5,187 | €8,319 | +€3,132 | +60.4% |
| Financial charges | 65/66B | €50,838 | €42,439 | -€8,399 | -16.5% |
| Recurring financial charges | 65 | €50,838 | €42,439 | -€8,399 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €37,058 | €75,017 | +€37,959 | +102% |
| Income taxes | 67/77 | €1,119 | €757 | -€362 | -32.4% |
| Profit (loss) for the period | 9904 | €35,939 | €74,260 | +€38,321 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €35,939 | €74,260 | +€38,321 | +107% |
Source: filed annual accounts (NBB), financial years ended 1 January 2025 and 1 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.