SOGATRA: 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.
SOGATRA
Largest movements
- Tangible fixed assets +€187,080
up €187,080 (+1.8%), from €10.2m to €10.4m
of which Land and buildings: +€2.9m
- Short-term financial debts +€969,313
up €969,313 (+400.0%), from €242,311 to €1.2m
- Trade debts -€908,996
down €908,996 (-66.5%), from €1.4m to €458,701
- Revaluation surpluses -€354,983
down €354,983 (-13.3%), from €2.7m to €2.3m
- Reserves +€354,983
up €354,983 (+12.1%), from €2.9m to €3.3m
of which Distributable reserves: +€354,983
- Profit (loss) carried forward +€154,035
up €154,035 (+48.1%), from €320,441 to €474,477
- Depreciation +€372,847
up €372,847 (+52.7%), from €707,816 to €1.1m
- Gross operating margin +€179,529
up €179,529 (+4.0%), from €4.5m to €4.6m
- Other operating charges -€115,285
down €115,285 (-3.4%), from €3.4m to €3.3m
- Financial income -€52,089
down €52,089 (-100.0%), from €52,089 to €0
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,102,896 | €11,353,324 | +€250,428 | +2.3% |
| Fixed assets | 21/28 | €10,178,381 | €10,365,460 | +€187,080 | +1.8% |
| Tangible fixed assets | 22/27 | €10,178,381 | €10,365,460 | +€187,080 | +1.8% |
| Land and buildings | 22 | €6,730,656 | €9,680,033 | +€2.9m | +43.8% |
| Plant, machinery and equipment | 23 | €17,406 | €11,370 | -€6,036 | -34.7% |
| Furniture and vehicles | 24 | €8,899 | €1,535 | -€7,365 | -82.8% |
| Assets under construction and advance payments | 27 | €3,421,420 | €672,523 | -€2.7m | -80.3% |
| Current assets | 29/58 | €924,516 | €987,864 | +€63,348 | +6.9% |
| Stocks and contracts in progress | 3 | €24,468 | €20,107 | -€4,361 | -17.8% |
| Stocks | 30/36 | €24,468 | €20,107 | -€4,361 | -17.8% |
| Amounts receivable within one year | 40/41 | €888,309 | €895,475 | +€7,166 | +0.8% |
| Trade receivables | 40 | €864,309 | €895,475 | +€31,166 | +3.6% |
| Other amounts receivable | 41 | €24,000 | - | -€24,000 | |
| Deferred charges and accrued income | 490/1 | €11,739 | €72,281 | +€60,542 | +515.7% |
| Total equity and liabilities | 10/49 | €11,102,896 | €11,353,324 | +€250,428 | +2.3% |
| Equity | 10/15 | €9,383,489 | €9,537,525 | +€154,035 | +1.6% |
| Contributions | 10/11 | €3,459,195 | €3,459,195 | = | 0.0% |
| Capital | 10 | €3,459,195 | €3,459,195 | = | 0.0% |
| Issued capital | 100 | €3,459,195 | €3,459,195 | = | 0.0% |
| Revaluation surpluses | 12 | €2,672,495 | €2,317,512 | -€354,983 | -13.3% |
| Reserves | 13 | €2,931,358 | €3,286,341 | +€354,983 | +12.1% |
| Non-distributable reserves | 130/1 | €345,919 | €345,919 | = | 0.0% |
| Legal reserve | 130 | €345,919 | €345,919 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,344 | €5,344 | = | 0.0% |
| Distributable reserves | 133 | €2,580,095 | €2,935,078 | +€354,983 | +13.8% |
| Profit (loss) carried forward | 14 | €320,441 | €474,477 | +€154,035 | +48.1% |
| Amounts payable | 17/49 | €1,719,407 | €1,815,799 | +€96,393 | +5.6% |
| Amounts payable after more than one year | 17 | €56,818 | €56,818 | = | 0.0% |
| Other amounts payable | 178/9 | €56,818 | €56,818 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,662,589 | €1,758,981 | +€96,393 | +5.8% |
| Financial debts | 43 | €242,311 | €1,211,624 | +€969,313 | +400.0% |
| Other loans | 439 | €242,311 | €1,211,624 | +€969,313 | +400.0% |
| Trade debts | 44 | €1,367,697 | €458,701 | -€908,996 | -66.5% |
| Suppliers | 440/4 | €1,367,697 | €458,701 | -€908,996 | -66.5% |
| Taxes, remuneration and social security | 45 | €52,581 | €88,657 | +€36,076 | +68.6% |
| Taxes | 450/3 | €41,840 | €78,082 | +€36,242 | +86.6% |
| Remuneration and social security | 454/9 | €10,741 | €10,575 | -€166 | -1.5% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Remuneration, social security and pensions | 62 | €106,621 | €108,078 | +€1,458 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €707,816 | €1,080,662 | +€372,847 | +52.7% |
| Other operating charges | 640/8 | €3,385,737 | €3,270,451 | -€115,285 | -3.4% |
| Non-recurring operating charges | 66A | - | €6,009 | +€6,009 | |
| Gross operating margin | 9900 | €4,469,606 | €4,649,135 | +€179,529 | +4.0% |
| Operating profit (loss) | 9901 | €269,433 | €183,934 | -€85,500 | -31.7% |
| Financial income | 75/76B | €52,089 | €0 | -€52,089 | -100.0% |
| Recurring financial income | 75 | €52,089 | €0 | -€52,089 | -100.0% |
| Financial charges | 65/66B | €1,081 | €29,898 | +€28,818 | +2667.0% |
| Recurring financial charges | 65 | €1,081 | €29,898 | +€28,818 | +2667.0% |
| Profit (loss) for the period before taxes | 9903 | €320,441 | €154,035 | -€166,406 | -51.9% |
| Profit (loss) for the period | 9904 | €320,441 | €154,035 | -€166,406 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €320,441 | €154,035 | -€166,406 | -51.9% |
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 3 October 2026 via checked.be.