Sofina Ventures: 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
Sofina Ventures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€40.4m
2024 · -€22.6m-€17.8m
Equity
€596.9m
2024 · €637.4m-€40.4m
Cash
€632,182
2024 · €172,735+€459,447
Balance sheet total
€742.8m
2024 · €657.3m+€85.5m
Largest movements
Assets
- Financial fixed assets +€83.9m
up €83.9m (+12.8%), from €656.1m to €740.0m
of which Companies linked by participating interests: +€74.6m
Equity and liabilities
- Other debts +€125.4m
up €125.4m (+677.0%), from €18.5m to €143.9m
- Profit (loss) carried forward -€40.4m
down €40.4m (-33.7%), from €119.9m to €79.4m
Income statement
- Financial income -€45.1m
down €45.1m (-70.6%), from €63.8m to €18.7m
of which Non-recurring financial income: -€52.9m
- Financial charges -€29.3m
down €29.3m (-35.0%), from €83.8m to €54.5m
of which Non-recurring financial charges: -€27.7m
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
-€22.6m
Provisions
-€41,450
Other operating charges
+€202,881
Other operating items
-€2.2m
Financial income
-€45.1m
Financial charges
+€29.3m
Result 2025
-€40.4m
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
+€84.3m
Investment
-€83.9m
Financing
€0
Cash 2024
€172,735
From operations (derived)
+€84.3m
Net result for the year
-€40.4m
Smaller working-capital items
+€105,760
Deferred charges and accrued income
-€1.2m
Trade debts
+€425,647
Other debts
+€125.4m
Investment (derived)
-€83.9m
Investment in fixed assets (net)
-€83.9m
Cash 2025
€632,182
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €657,314,548 | €742,820,784 | +€85.5m | +13.0% |
| Fixed assets | 21/28 | €656,094,741 | €739,971,055 | +€83.9m | +12.8% |
| Financial fixed assets | 28 | €656,094,741 | €739,971,055 | +€83.9m | +12.8% |
| Companies linked by participating interests | 282/3 | €312,362,031 | €386,982,753 | +€74.6m | +23.9% |
| Participating interests | 282 | €307,696,546 | €366,366,763 | +€58.7m | +19.1% |
| Amounts receivable | 283 | €4,665,485 | €20,615,990 | +€16.0m | +341.9% |
| Other financial fixed assets | 284/8 | €343,732,710 | €352,988,302 | +€9.3m | +2.7% |
| Shares | 284 | €340,732,710 | €352,988,302 | +€12.3m | +3.6% |
| Amounts receivable and cash guarantees | 285/8 | €3,000,000 | €0 | -€3.0m | -100.0% |
| Current assets | 29/58 | €1,219,807 | €2,849,729 | +€1.6m | +133.6% |
| Amounts receivable within one year | 40/41 | €357,927 | €348,158 | -€9,769 | -2.7% |
| Other amounts receivable | 41 | €357,927 | €348,158 | -€9,769 | -2.7% |
| Cash at bank and in hand | 54/58 | €172,735 | €632,182 | +€459,447 | +266.0% |
| Deferred charges and accrued income | 490/1 | €689,146 | €1,869,390 | +€1.2m | +171.3% |
| Total equity and liabilities | 10/49 | €657,314,548 | €742,820,784 | +€85.5m | +13.0% |
| Equity | 10/15 | €637,372,228 | €596,932,978 | -€40.4m | -6.3% |
| Contributions | 10/11 | €497,500,000 | €497,500,000 | = | 0.0% |
| Capital | 10 | €497,500,000 | €497,500,000 | = | 0.0% |
| Issued capital | 100 | €497,500,000 | €497,500,000 | = | 0.0% |
| Reserves | 13 | €20,000,000 | €20,000,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000,000 | €20,000,000 | = | 0.0% |
| Legal reserve | 130 | €20,000,000 | €20,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,872,228 | €79,432,978 | -€40.4m | -33.7% |
| Provisions and deferred taxes | 16 | €81,234 | €81,424 | +€191 | +0.2% |
| Provisions for liabilities and charges | 160/5 | €81,234 | €81,424 | +€191 | +0.2% |
| Other liabilities and charges | 164/5 | €81,234 | €81,424 | +€191 | +0.2% |
| Amounts payable | 17/49 | €19,861,087 | €145,806,381 | +€125.9m | +634.1% |
| Amounts payable within one year | 42/48 | €19,861,087 | €145,804,370 | +€125.9m | +634.1% |
| Trade debts | 44 | €1,216,033 | €1,641,680 | +€425,647 | +35.0% |
| Suppliers | 440/4 | €1,216,033 | €1,641,680 | +€425,647 | +35.0% |
| Taxes, remuneration and social security | 45 | €119,794 | €213,583 | +€93,789 | +78.3% |
| Taxes | 450/3 | €119,794 | €213,583 | +€93,789 | +78.3% |
| Other amounts payable | 47/48 | €18,525,260 | €143,949,107 | +€125.4m | +677.0% |
| Accrued charges and deferred income | 492/3 | - | €2,012 | +€2,012 | |
| Operating income | 70/76A | - | €228,593 | +€228,593 | |
| Other operating income | 74 | - | €228,593 | +€228,593 | |
| Operating charges | 60/66A | €2,621,597 | €4,913,228 | +€2.3m | +87.4% |
| Services and other goods | 61 | €2,396,287 | €4,849,348 | +€2.5m | +102.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€41,259 | €191 | +€41,450 | |
| Other operating charges | 640/8 | €266,570 | €63,689 | -€202,881 | -76.1% |
| Operating profit (loss) | 9901 | -€2,621,597 | -€4,684,635 | -€2.1m | -78.7% |
| Financial income | 75/76B | €63,778,752 | €18,727,043 | -€45.1m | -70.6% |
| Recurring financial income | 75 | €4,384,284 | €12,191,990 | +€7.8m | +178.1% |
| Income from financial fixed assets | 750 | €3,931,189 | €11,590,420 | +€7.7m | +194.8% |
| Income from current assets | 751 | €40,678 | €88,261 | +€47,583 | +117.0% |
| Other financial income | 752/9 | €412,416 | €513,309 | +€100,893 | +24.5% |
| Non-recurring financial income | 76B | €59,394,469 | €6,535,052 | -€52.9m | -89.0% |
| Financial charges | 65/66B | €83,801,725 | €54,481,657 | -€29.3m | -35.0% |
| Recurring financial charges | 65 | €5,410,037 | €3,826,362 | -€1.6m | -29.3% |
| Debt charges | 650 | €2,697,752 | €2,760,265 | +€62,512 | +2.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €210,513 | -€19,276 | -€229,790 | |
| Other financial charges | 652/9 | €2,501,771 | €1,085,374 | -€1.4m | -56.6% |
| Non-recurring financial charges | 66B | €78,391,688 | €50,655,294 | -€27.7m | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,644,569 | -€40,439,249 | -€17.8m | -78.6% |
| Profit (loss) for the period | 9904 | -€22,644,569 | -€40,439,249 | -€17.8m | -78.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,644,569 | -€40,439,249 | -€17.8m | -78.6% |
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 7 October 2026 via checked.be.