SOGECAM: 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.
SOGECAM
Largest movements
- Stocks and contracts -€79,057
down €79,057 (-9.7%), from €813,894 to €734,837
- Cash -€78,597
down €78,597 (-58.9%), from €133,435 to €54,838
mainly Net result for the year (-€938,658) and Debts after one year (-€144,845)
- Intangible fixed assets -€44,595
down €44,595 (-24.4%), from €182,741 to €138,145
- Tangible fixed assets -€44,356
down €44,356 (-32.8%), from €135,326 to €90,970
- Profit (loss) carried forward -€938,658
down €938,658, from €161,883 to -€776,775
- Tax, wage and social debts +€354,325
up €354,325 (+143%), from €247,497 to €601,822
of which Taxes: +€191,098
- Advances received +€183,489
up €183,489 (+93.7%), from €195,827 to €379,316
- Other debts +€170,103
up €170,103 (+37.9%), from €448,306 to €618,409
- Debts after one year -€144,845
down €144,845 (-14.1%), from €1.0m to €884,610
- Gross operating margin -€898,238
down €898,238 (-90.7%), from €990,469 to €92,231
- Financial charges +€41,258
up €41,258 (+58.9%), from €70,054 to €111,312
of which Financial charges: +€50,258
- Write-downs -€31,257
down €31,257 (-100%), from €31,257 to €0
- Staff costs -€23,779
down €23,779 (-3.1%), from €765,129 to €741,350
- Depreciation +€18,487
up €18,487 (+21.7%), from €85,050 to €103,537
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.
Derived cash bridge
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 | €3,281,121 | €3,017,668 | -€263,453 | -8.0% |
| Formation expenses | 20 | €16,362 | €10,891 | -€5,471 | -33.4% |
| Fixed assets | 21/28 | €1,091,606 | €1,013,656 | -€77,951 | -7.1% |
| Intangible fixed assets | 21 | €182,741 | €138,145 | -€44,595 | -24.4% |
| Tangible fixed assets | 22/27 | €135,326 | €90,970 | -€44,356 | -32.8% |
| Land and buildings | 22 | €10,290 | €8,228 | -€2,062 | -20.0% |
| Plant, machinery and equipment | 23 | €73,956 | €53,522 | -€20,434 | -27.6% |
| Furniture and vehicles | 24 | €51,080 | €29,220 | -€21,860 | -42.8% |
| Financial fixed assets | 28 | €773,540 | €784,540 | +€11,000 | +1.4% |
| Current assets | 29/58 | €2,173,153 | €1,993,122 | -€180,032 | -8.3% |
| Stocks and contracts in progress | 3 | €813,894 | €734,837 | -€79,057 | -9.7% |
| Stocks | 30/36 | €813,894 | €734,837 | -€79,057 | -9.7% |
| Amounts receivable within one year | 40/41 | €1,201,408 | €1,175,052 | -€26,356 | -2.2% |
| Trade receivables | 40 | €1,201,351 | €1,097,474 | -€103,878 | -8.6% |
| Other amounts receivable | 41 | €56 | €77,579 | +€77,522 | +137,231% |
| Cash at bank and in hand | 54/58 | €133,435 | €54,838 | -€78,597 | -58.9% |
| Deferred charges and accrued income | 490/1 | €24,417 | €28,394 | +€3,978 | +16.3% |
| Total equity and liabilities | 10/49 | €3,281,121 | €3,017,668 | -€263,453 | -8.0% |
| Equity | 10/15 | €408,178 | -€530,479 | -€938,658 | |
| Contributions | 10/11 | €236,973 | €236,973 | = | 0.0% |
| Capital | 10 | €236,973 | €236,973 | = | 0.0% |
| Issued capital | 100 | €236,973 | €236,973 | = | 0.0% |
| Reserves | 13 | €9,322 | €9,322 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,322 | €9,322 | = | 0.0% |
| Legal reserve | 130 | €9,322 | €9,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,883 | -€776,775 | -€938,658 | |
| Amounts payable | 17/49 | €2,872,943 | €3,548,147 | +€675,204 | +23.5% |
| Amounts payable after more than one year | 17 | €1,029,455 | €884,610 | -€144,845 | -14.1% |
| Financial debts | 170/4 | €1,029,455 | €884,610 | -€144,845 | -14.1% |
| Amounts payable within one year | 42/48 | €1,797,794 | €2,643,954 | +€846,160 | +47.1% |
| Current portion of amounts payable after more than one year | 42 | €289,943 | €268,891 | -€21,052 | -7.3% |
| Financial debts | 43 | €116,000 | €175,000 | +€59,000 | +50.9% |
| Credit institutions | 430/8 | €116,000 | €175,000 | +€59,000 | +50.9% |
| Trade debts | 44 | €500,221 | €600,516 | +€100,294 | +20.0% |
| Suppliers | 440/4 | €500,221 | €600,516 | +€100,294 | +20.0% |
| Advances received on contracts in progress | 46 | €195,827 | €379,316 | +€183,489 | +93.7% |
| Taxes, remuneration and social security | 45 | €247,497 | €601,822 | +€354,325 | +143% |
| Taxes | 450/3 | €148,626 | €339,724 | +€191,098 | +129% |
| Remuneration and social security | 454/9 | €98,871 | €262,098 | +€163,227 | +165% |
| Other amounts payable | 47/48 | €448,306 | €618,409 | +€170,103 | +37.9% |
| Accrued charges and deferred income | 492/3 | €45,694 | €19,584 | -€26,110 | -57.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €765,129 | €741,350 | -€23,779 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,050 | €103,537 | +€18,487 | +21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,257 | €0 | -€31,257 | -100% |
| Other operating charges | 640/8 | €8,257 | €25,807 | +€17,550 | +213% |
| Non-recurring operating charges | 66A | - | €42,264 | +€42,264 | |
| Gross operating margin | 9900 | €990,469 | €92,231 | -€898,238 | -90.7% |
| Operating profit (loss) | 9901 | €100,777 | -€820,726 | -€921,503 | |
| Financial income | 75/76B | €4,593 | €0 | -€4,593 | -100% |
| Recurring financial income | 75 | €4,593 | €0 | -€4,593 | -100% |
| Financial charges | 65/66B | €70,054 | €111,312 | +€41,258 | +58.9% |
| Recurring financial charges | 65 | €61,054 | €111,312 | +€50,258 | +82.3% |
| Non-recurring financial charges | 66B | €9,000 | €0 | -€9,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €35,316 | -€932,038 | -€967,353 | |
| Income taxes | 67/77 | €13,192 | €6,620 | -€6,572 | -49.8% |
| Profit (loss) for the period | 9904 | €22,124 | -€938,658 | -€960,781 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,124 | -€938,658 | -€960,781 |
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 13 October 2026 via checked.be.