SODEWA: 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.
SODEWA
Largest movements
- Intangible fixed assets -€261,715
down €261,715 (-7.0%), from €3.7m to €3.5m
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€188,433
up €188,433 (+18.3%), from €1.0m to €1.2m
mainly Other debts (+€800,202) and Depreciation (+€318,306)
- Receivables within one year +€123,418
up €123,418 (+18.8%), from €657,377 to €780,795
of which Trade receivables: +€278,411
- Tangible fixed assets +€103,036
up €103,036 (+4.4%), from €2.3m to €2.4m
of which Land and buildings: +€117,180
- Other debts +€800,202
up €800,202 (+16004.0%), from €5,000 to €805,202
- Profit (loss) carried forward -€506,794
down €506,794 (-18.9%), from €2.7m to €2.2m
- Debts after one year -€384,569
down €384,569 (-17.5%), from €2.2m to €1.8m
- Depreciation -€520,300
down €520,300 (-62.0%), from €838,606 to €318,306
- Taxes +€112,632
up €112,632 (+3531.4%), from €3,189 to €115,822
- Other operating charges -€105,823
down €105,823 (-22.0%), from €481,536 to €375,713
- Staff costs +€103,544
up €103,544 (+70.9%), from €145,988 to €249,532
- Write-downs +€87,753
new in 2025: €87,753
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 | €8,251,526 | €8,152,691 | -€98,835 | -1.2% |
| Fixed assets | 21/28 | €6,296,936 | €6,138,257 | -€158,679 | -2.5% |
| Intangible fixed assets | 21 | €3,733,899 | €3,472,185 | -€261,715 | -7.0% |
| Tangible fixed assets | 22/27 | €2,327,121 | €2,430,157 | +€103,036 | +4.4% |
| Land and buildings | 22 | €2,183,779 | €2,300,959 | +€117,180 | +5.4% |
| Plant, machinery and equipment | 23 | €79,781 | €83,087 | +€3,306 | +4.1% |
| Furniture and vehicles | 24 | €63,561 | €46,111 | -€17,450 | -27.5% |
| Financial fixed assets | 28 | €235,915 | €235,915 | = | 0.0% |
| Current assets | 29/58 | €1,954,590 | €2,014,434 | +€59,843 | +3.1% |
| Amounts receivable within one year | 40/41 | €657,377 | €780,795 | +€123,418 | +18.8% |
| Trade receivables | 40 | €354,353 | €632,764 | +€278,411 | +78.6% |
| Other amounts receivable | 41 | €303,024 | €148,031 | -€154,993 | -51.1% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €1,030,081 | €1,218,514 | +€188,433 | +18.3% |
| Deferred charges and accrued income | 490/1 | €17,132 | €15,125 | -€2,008 | -11.7% |
| Total equity and liabilities | 10/49 | €8,251,526 | €8,152,691 | -€98,835 | -1.2% |
| Equity | 10/15 | €3,775,406 | €3,268,612 | -€506,794 | -13.4% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,675,406 | €2,168,612 | -€506,794 | -18.9% |
| Provisions and deferred taxes | 16 | €1,397,831 | €1,397,831 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,397,831 | €1,397,831 | = | 0.0% |
| Environmental obligations | 163 | €1,397,831 | €1,397,831 | = | 0.0% |
| Amounts payable | 17/49 | €3,078,290 | €3,486,248 | +€407,959 | +13.3% |
| Amounts payable after more than one year | 17 | €2,198,985 | €1,814,416 | -€384,569 | -17.5% |
| Financial debts | 170/4 | €2,198,985 | €1,814,416 | -€384,569 | -17.5% |
| Amounts payable within one year | 42/48 | €879,305 | €1,671,832 | +€792,527 | +90.1% |
| Current portion of amounts payable after more than one year | 42 | €369,705 | €384,569 | +€14,863 | +4.0% |
| Trade debts | 44 | €480,559 | €423,115 | -€57,445 | -12.0% |
| Suppliers | 440/4 | €480,559 | €423,115 | -€57,445 | -12.0% |
| Taxes, remuneration and social security | 45 | €24,040 | €58,947 | +€34,906 | +145.2% |
| Taxes | 450/3 | €18,470 | €49,358 | +€30,888 | +167.2% |
| Remuneration and social security | 454/9 | €5,570 | €9,589 | +€4,019 | +72.1% |
| Other amounts payable | 47/48 | €5,000 | €805,202 | +€800,202 | +16004.0% |
| Remuneration, social security and pensions | 62 | €145,988 | €249,532 | +€103,544 | +70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €838,606 | €318,306 | -€520,300 | -62.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €87,753 | +€87,753 | |
| Other operating charges | 640/8 | €481,536 | €375,713 | -€105,823 | -22.0% |
| Gross operating margin | 9900 | €1,581,054 | €1,528,032 | -€53,023 | -3.4% |
| Operating profit (loss) | 9901 | €114,925 | €496,729 | +€381,804 | +332.2% |
| Financial income | 75/76B | €3,494 | €8,509 | +€5,015 | +143.5% |
| Recurring financial income | 75 | €3,494 | €8,509 | +€5,015 | +143.5% |
| Financial charges | 65/66B | €107,064 | €96,210 | -€10,854 | -10.1% |
| Recurring financial charges | 65 | €107,064 | €96,210 | -€10,854 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €11,355 | €409,028 | +€397,673 | +3502.2% |
| Income taxes | 67/77 | €3,189 | €115,822 | +€112,632 | +3531.4% |
| Profit (loss) for the period | 9904 | €8,165 | €293,206 | +€285,041 | +3490.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,165 | €293,206 | +€285,041 | +3490.9% |
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 12 October 2026 via checked.be.