SOGECAL: 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.
SOGECAL
Largest movements
- Cash -€4,051
down €4,051 (-12.2%), from €33,076 to €29,025
mainly Net result for the year (-€97,293) and Investment in fixed assets (net) (-€17,023)
- Receivables within one year -€3,361
down €3,361 (-6.7%), from €49,920 to €46,559
of which Other amounts receivable: -€8,853
- Deferred charges and accrued income +€2,476
up €2,476 (+184.1%), from €1,345 to €3,821
- Trade debts +€106,921
up €106,921 (+48.3%), from €221,190 to €328,111
- Profit (loss) carried forward -€97,293
down €97,293 (-77.2%), from -€126,038 to -€223,331
- Current portion of long-term debt -€16,726
down €16,726 (-74.8%), from €22,363 to €5,637
- Other debts +€14,200
up €14,200 (+132.9%), from €10,685 to €24,885
- Debts after one year -€5,637
down €5,637 (-100.0%), from €5,637 to €0
- Staff costs +€37,522
up €37,522 (+22.0%), from €170,489 to €208,011
- Financial charges -€12,591
down €12,591 (-63.6%), from €19,783 to €7,192
- Gross operating margin -€11,752
down €11,752 (-7.3%), from €160,384 to €148,632
- Other operating charges +€3,363
up €3,363 (+34.9%), from €9,634 to €12,997
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 | €226,286 | €222,935 | -€3,351 | -1.5% |
| Fixed assets | 21/28 | €69,731 | €69,249 | -€482 | -0.7% |
| Tangible fixed assets | 22/27 | €66,463 | €65,981 | -€482 | -0.7% |
| Plant, machinery and equipment | 23 | €7,383 | €12,243 | +€4,860 | +65.8% |
| Furniture and vehicles | 24 | €9,547 | €12,094 | +€2,547 | +26.7% |
| Other tangible fixed assets | 26 | €49,533 | €41,644 | -€7,889 | -15.9% |
| Financial fixed assets | 28 | €3,268 | €3,268 | = | 0.0% |
| Current assets | 29/58 | €156,555 | €153,686 | -€2,869 | -1.8% |
| Stocks and contracts in progress | 3 | €72,214 | €74,281 | +€2,067 | +2.9% |
| Stocks | 30/36 | €72,214 | €74,281 | +€2,067 | +2.9% |
| Amounts receivable within one year | 40/41 | €49,920 | €46,559 | -€3,361 | -6.7% |
| Trade receivables | 40 | €1,041 | €6,533 | +€5,492 | +527.4% |
| Other amounts receivable | 41 | €48,879 | €40,026 | -€8,853 | -18.1% |
| Cash at bank and in hand | 54/58 | €33,076 | €29,025 | -€4,051 | -12.2% |
| Deferred charges and accrued income | 490/1 | €1,345 | €3,821 | +€2,476 | +184.1% |
| Total equity and liabilities | 10/49 | €226,286 | €222,935 | -€3,351 | -1.5% |
| Equity | 10/15 | -€59,179 | -€156,472 | -€97,293 | -164.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,292 | €2,292 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,292 | €2,292 | = | 0.0% |
| Distributable reserves | 133 | €4,568 | €4,568 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,038 | -€223,331 | -€97,293 | -77.2% |
| Amounts payable | 17/49 | €285,464 | €379,407 | +€93,942 | +32.9% |
| Amounts payable after more than one year | 17 | €5,637 | €0 | -€5,637 | -100.0% |
| Financial debts | 170/4 | €5,637 | €0 | -€5,637 | -100.0% |
| Amounts payable within one year | 42/48 | €279,828 | €379,407 | +€99,579 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €22,363 | €5,637 | -€16,726 | -74.8% |
| Financial debts | 43 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Credit institutions | 430/8 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Trade debts | 44 | €221,190 | €328,111 | +€106,921 | +48.3% |
| Suppliers | 440/4 | €221,190 | €328,111 | +€106,921 | +48.3% |
| Taxes, remuneration and social security | 45 | €5,590 | €5,774 | +€184 | +3.3% |
| Taxes | 450/3 | €391 | €619 | +€228 | +58.4% |
| Remuneration and social security | 454/9 | €5,199 | €5,155 | -€44 | -0.8% |
| Other amounts payable | 47/48 | €10,685 | €24,885 | +€14,200 | +132.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €170,489 | €208,011 | +€37,522 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,233 | €17,505 | +€1,271 | +7.8% |
| Other operating charges | 640/8 | €9,634 | €12,997 | +€3,363 | +34.9% |
| Non-recurring operating charges | 66A | €3,806 | €0 | -€3,806 | -100.0% |
| Gross operating margin | 9900 | €160,384 | €148,632 | -€11,752 | -7.3% |
| Operating profit (loss) | 9901 | -€39,779 | -€89,881 | -€50,102 | -126.0% |
| Financial income | 75/76B | €47 | €8 | -€40 | -83.7% |
| Recurring financial income | 75 | €47 | €8 | -€40 | -83.7% |
| Financial charges | 65/66B | €19,783 | €7,192 | -€12,591 | -63.6% |
| Recurring financial charges | 65 | €19,783 | €7,192 | -€12,591 | -63.6% |
| Profit (loss) for the period before taxes | 9903 | -€59,515 | -€97,065 | -€37,550 | -63.1% |
| Income taxes | 67/77 | €185 | €228 | +€43 | +23.0% |
| Profit (loss) for the period | 9904 | -€59,700 | -€97,293 | -€37,593 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,700 | -€97,293 | -€37,593 | -63.0% |
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.