SOFABO: 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.
What changed
SOFABO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €4.5m-€2.1m
Equity
€214.0m
2024 · €213.0m+€1.0m
Cash
€4.7m
2024 · €274,292+€4.5m
Balance sheet total
€231.9m
2024 · €214.1m+€17.8m
Largest movements
Assets
- Financial fixed assets +€19.4m
up €19.4m (+97.7%), from €19.8m to €39.2m
of which Affiliated companies: +€30.0m
- Receivables within one year -€14.0m
down €14.0m (-24.2%), from €57.8m to €43.8m
of which Other amounts receivable: -€14.0m
- Receivables after one year +€6.7m
up €6.7m (+89.1%), from €7.5m to €14.3m
of which Other amounts receivable: +€6.7m
- Cash +€4.5m
up €4.5m (+1629.9%), from €274,292 to €4.7m
mainly Receivables within one year (+€14.0m) and Short-term financial debts (+€13.0m)
Equity and liabilities
- Short-term financial debts +€13.0m
new in 2025: €13.0m
- Other debts +€3.8m
up €3.8m (+1101.7%), from €344,007 to €4.1m
Income statement
- Financial income +€2.8m
up €2.8m (+47.4%), from €5.9m to €8.7m
of which Financial income: +€2.4m
- Write-downs +€2.3m
up €2.3m (+43197.4%), from €5,400 to €2.3m
- Financial charges +€1.6m
up €1.6m (+74.8%), from €2.2m to €3.9m
of which Non-recurring financial charges: +€864,673
- Taxes -€1.1m
down €1.1m, from €998,461 to -€68,362
of which Taxes: -€983,888
- Services and other goods +€991,690
up €991,690 (+128.4%), from €772,603 to €1.8m
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.
Result 2024
€4.5m
Turnover
-€973,781
Other operating income
-€65,541
Goods and materials
-€1,480
Services and other goods
-€991,690
Depreciation
-€3,067
Write-downs
-€2.3m
Other operating charges
-€4,326
Other operating items
+€2,603
Financial income
+€2.8m
Financial charges
-€1.6m
Taxes
+€1.1m
Deferred taxes and other
+€36,018
Result 2025
€2.4m
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.
From operations
+€13.5m
Investment
-€20.7m
Financing
+€11.6m
Cash 2024
€274,292
From operations (derived)
+€13.5m
Net result for the year
+€2.4m
Depreciation
+€283,817
Receivables after one year
-€6.7m
Smaller working-capital items
-€11,160
Receivables within one year
+€14.0m
Deferred charges and accrued income
-€191,819
Trade debts
+€384,121
Tax, wage and social debts
-€345,774
Other debts
+€3.8m
Investment (derived)
-€20.7m
Investment in fixed assets (net)
-€19.4m
Current investments
-€1.2m
Financing
+€11.6m
Debts after one year
-€30,049
Current portion of long-term debt
-€7,482
Short-term financial debts
+€13.0m
Contributions, distributions and other
-€1.4m
Cash 2025
€4.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €214,119,953 | €231,901,503 | +€17.8m | +8.3% |
| Fixed assets | 21/28 | €23,930,038 | €43,069,876 | +€19.1m | +80.0% |
| Tangible fixed assets | 22/27 | €4,120,439 | €3,899,037 | -€221,402 | -5.4% |
| Land and buildings | 22 | €4,106,361 | €3,899,037 | -€207,323 | -5.0% |
| Assets under construction and advance payments | 27 | €14,078 | - | -€14,078 | |
| Financial fixed assets | 28 | €19,809,598 | €39,170,838 | +€19.4m | +97.7% |
| Affiliated companies | 280/1 | €7,708,718 | €37,746,946 | +€30.0m | +389.7% |
| Participating interests | 280 | €7,708,718 | €37,746,946 | +€30.0m | +389.7% |
| Companies linked by participating interests | 282/3 | €11,859,925 | €1,335,487 | -€10.5m | -88.7% |
| Participating interests | 282 | €11,859,925 | €1,335,487 | -€10.5m | -88.7% |
| Other financial fixed assets | 284/8 | €240,956 | €88,405 | -€152,551 | -63.3% |
| Shares | 284 | €240,956 | €88,405 | -€152,551 | -63.3% |
| Current assets | 29/58 | €190,189,915 | €188,831,627 | -€1.4m | -0.7% |
| Amounts receivable after more than one year | 29 | €7,544,116 | €14,268,277 | +€6.7m | +89.1% |
| Trade receivables | 290 | €1,915,245 | €1,953,550 | +€38,305 | +2.0% |
| Other amounts receivable | 291 | €5,628,871 | €12,314,727 | +€6.7m | +118.8% |
| Stocks and contracts in progress | 3 | €2,627 | - | -€2,627 | |
| Stocks | 30/36 | €2,627 | - | -€2,627 | |
| Goods purchased for resale | 34 | €2,627 | - | -€2,627 | |
| Amounts receivable within one year | 40/41 | €57,754,483 | €43,782,499 | -€14.0m | -24.2% |
| Trade receivables | 40 | €9,841 | €7,522 | -€2,319 | -23.6% |
| Other amounts receivable | 41 | €57,744,642 | €43,774,977 | -€14.0m | -24.2% |
| Current investments | 50/53 | €123,870,945 | €125,100,634 | +€1.2m | +1.0% |
| Own shares | 50 | €34,497,954 | €34,497,954 | = | 0.0% |
| Other investments | 51/53 | €89,372,991 | €90,602,679 | +€1.2m | +1.4% |
| Cash at bank and in hand | 54/58 | €274,292 | €4,744,946 | +€4.5m | +1629.9% |
| Deferred charges and accrued income | 490/1 | €743,453 | €935,271 | +€191,819 | +25.8% |
| Total equity and liabilities | 10/49 | €214,119,953 | €231,901,503 | +€17.8m | +8.3% |
| Equity | 10/15 | €212,973,278 | €213,977,723 | +€1.0m | +0.5% |
| Contributions | 10/11 | €18,200,000 | €18,200,000 | = | 0.0% |
| Capital | 10 | €18,200,000 | €18,200,000 | = | 0.0% |
| Issued capital | 100 | €18,200,000 | €18,200,000 | = | 0.0% |
| Reserves | 13 | €42,502,393 | €42,453,456 | -€48,937 | -0.1% |
| Non-distributable reserves | 130/1 | €36,317,954 | €36,317,954 | = | 0.0% |
| Legal reserve | 130 | €1,820,000 | €1,820,000 | = | 0.0% |
| Own shares acquired | 1312 | €34,497,954 | €34,497,954 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,363,439 | €1,314,502 | -€48,937 | -3.6% |
| Distributable reserves | 133 | €4,821,000 | €4,821,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,270,885 | €153,324,267 | +€1.1m | +0.7% |
| Provisions and deferred taxes | 16 | €251,220 | €225,501 | -€25,718 | -10.2% |
| Deferred taxes | 168 | €251,220 | €225,501 | -€25,718 | -10.2% |
| Amounts payable | 17/49 | €895,454 | €17,698,279 | +€16.8m | +1876.5% |
| Amounts payable after more than one year | 17 | €64,962 | €34,913 | -€30,049 | -46.3% |
| Financial debts | 170/4 | €63,262 | €33,213 | -€30,049 | -47.5% |
| Credit institutions | 173 | €63,262 | €33,213 | -€30,049 | -47.5% |
| Other amounts payable | 178/9 | €1,700 | €1,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €824,085 | €17,636,140 | +€16.8m | +2040.1% |
| Current portion of amounts payable after more than one year | 42 | €37,531 | €30,049 | -€7,482 | -19.9% |
| Financial debts | 43 | - | €13,000,000 | +€13.0m | |
| Credit institutions | 430/8 | - | €13,000,000 | +€13.0m | |
| Trade debts | 44 | €49,581 | €433,701 | +€384,121 | +774.7% |
| Suppliers | 440/4 | €49,581 | €433,701 | +€384,121 | +774.7% |
| Advances received on contracts in progress | 46 | €15,621 | €6,734 | -€8,887 | -56.9% |
| Taxes, remuneration and social security | 45 | €377,347 | €31,573 | -€345,774 | -91.6% |
| Taxes | 450/3 | €377,347 | €9,823 | -€367,524 | -97.4% |
| Remuneration and social security | 454/9 | - | €21,750 | +€21,750 | |
| Other amounts payable | 47/48 | €344,007 | €4,134,083 | +€3.8m | +1101.7% |
| Accrued charges and deferred income | 492/3 | €6,407 | €27,226 | +€20,819 | +324.9% |
| Operating income | 70/76A | €2,891,023 | €1,851,701 | -€1.0m | -35.9% |
| Turnover | 70 | €2,227,043 | €1,253,262 | -€973,781 | -43.7% |
| Other operating income | 74 | €663,980 | €598,439 | -€65,541 | -9.9% |
| Operating charges | 60/66A | €1,125,679 | €4,456,297 | +€3.3m | +295.9% |
| Goods for resale, raw materials and consumables | 60 | €1,146 | €2,627 | +€1,480 | +129.1% |
| Change in stocks: decrease (increase) | 609 | €1,146 | €2,627 | +€1,480 | +129.1% |
| Services and other goods | 61 | €772,603 | €1,764,293 | +€991,690 | +128.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,751 | €283,817 | +€3,067 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,400 | €2,338,059 | +€2.3m | +43197.4% |
| Other operating charges | 640/8 | €63,176 | €67,502 | +€4,326 | +6.8% |
| Non-recurring operating charges | 66A | €2,603 | - | -€2,603 | |
| Operating profit (loss) | 9901 | €1,765,344 | -€2,604,597 | -€4.4m | |
| Financial income | 75/76B | €5,929,335 | €8,742,128 | +€2.8m | +47.4% |
| Recurring financial income | 75 | €5,929,335 | €8,304,756 | +€2.4m | +40.1% |
| Income from current assets | 751 | €3,731,475 | €4,145,424 | +€413,949 | +11.1% |
| Other financial income | 752/9 | €2,197,861 | €4,159,331 | +€2.0m | +89.2% |
| Non-recurring financial income | 76B | - | €437,372 | +€437,372 | |
| Financial charges | 65/66B | €2,203,842 | €3,852,167 | +€1.6m | +74.8% |
| Recurring financial charges | 65 | €823,681 | €1,607,334 | +€783,652 | +95.1% |
| Debt charges | 650 | €248,401 | €460,739 | +€212,338 | +85.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €330,829 | €623,483 | +€292,655 | +88.5% |
| Other financial charges | 652/9 | €244,451 | €523,111 | +€278,660 | +114.0% |
| Non-recurring financial charges | 66B | €1,380,160 | €2,244,833 | +€864,673 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €5,490,838 | €2,285,364 | -€3.2m | -58.4% |
| Transfer from deferred taxes | 780 | €10,537 | €25,718 | +€15,181 | +144.1% |
| Transfer to deferred taxes | 680 | €20,837 | - | -€20,837 | |
| Income taxes | 67/77 | €998,461 | -€68,362 | -€1.1m | |
| Taxes | 670/3 | €998,461 | €14,573 | -€983,888 | -98.5% |
| Tax adjustments and reversals of tax provisions | 77 | - | €82,935 | +€82,935 | |
| Profit (loss) for the period | 9904 | €4,482,077 | €2,379,445 | -€2.1m | -46.9% |
| Transfer from tax-exempt reserves | 789 | €59,832 | €48,937 | -€10,895 | -18.2% |
| Transfer to tax-exempt reserves | 689 | €483,512 | - | -€483,512 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,058,397 | €2,428,382 | -€1.6m | -40.2% |
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 8 October 2026 via checked.be.