SOGECAP: 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
SOGECAP
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
€27,080
2024 · €26,004+€1,075
Equity
€1.0m
2024 · €1.0m+€27,080
Cash
€75,280
2024 · €84,593-€9,313
Balance sheet total
€1.5m
2024 · €1.6m-€45,982
Largest movements
Assets
- Tangible fixed assets -€37,222
down €37,222 (-2.5%), from €1.5m to €1.5m
of which Land and buildings: -€34,575
Equity and liabilities
- Other debts -€68,710
down €68,710 (-14.6%), from €469,721 to €401,011
- Reserves +€27,024
up €27,024 (+12.6%), from €214,441 to €241,465
of which Distributable reserves: +€30,000
Income statement
- Purchases and services +€10,935
up €10,935 (+9.9%), from €110,711 to €121,646
- Turnover +€7,215
up €7,215 (+3.2%), from €222,117 to €229,332
- Depreciation -€4,641
down €4,641 (-8.7%), from €53,376 to €48,735
- Gross operating margin -€3,720
down €3,720 (-3.3%), from €111,406 to €107,686
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
€26,004
Gross operating margin
-€3,720
Depreciation
+€4,641
Other operating charges
+€618
Other operating items
-€26
Financial income
-€11
Financial charges
-€61
Taxes
-€357
Deferred taxes and other
-€8
Result 2025
€27,080
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
+€11,072
Investment
-€11,514
Financing
-€8,871
Cash 2024
€84,593
From operations (derived)
+€11,072
Net result for the year
+€27,080
Depreciation
+€48,735
Receivables within one year
-€508
Smaller working-capital items
-€193
Provisions
-€1,087
Tax, wage and social debts
+€3,205
Other debts
-€68,710
Accrued charges and deferred income
+€2,550
Investment (derived)
-€11,514
Investment in fixed assets (net)
-€11,514
Financing
-€8,871
Debts after one year
-€7,642
Current portion of long-term debt
+€137
Short-term financial debts
-€1,366
Cash 2025
€75,280
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,595,899 | €1,549,917 | -€45,982 | -2.9% |
| Fixed assets | 21/28 | €1,491,649 | €1,454,427 | -€37,222 | -2.5% |
| Tangible fixed assets | 22/27 | €1,491,589 | €1,454,368 | -€37,222 | -2.5% |
| Land and buildings | 22 | €1,435,045 | €1,400,470 | -€34,575 | -2.4% |
| Plant, machinery and equipment | 23 | €43,902 | €42,654 | -€1,248 | -2.8% |
| Furniture and vehicles | 24 | €12,642 | €11,244 | -€1,398 | -11.1% |
| Financial fixed assets | 28 | €59 | €59 | = | 0.0% |
| Current assets | 29/58 | €104,250 | €95,490 | -€8,760 | -8.4% |
| Amounts receivable within one year | 40/41 | €17,132 | €17,640 | +€508 | +3.0% |
| Trade receivables | 40 | €3,085 | €3,911 | +€826 | +26.8% |
| Other amounts receivable | 41 | €14,048 | €13,729 | -€319 | -2.3% |
| Cash at bank and in hand | 54/58 | €84,593 | €75,280 | -€9,313 | -11.0% |
| Deferred charges and accrued income | 490/1 | €2,525 | €2,570 | +€45 | +1.8% |
| Total equity and liabilities | 10/49 | €1,595,899 | €1,549,917 | -€45,982 | -2.9% |
| Equity | 10/15 | €1,012,447 | €1,039,527 | +€27,080 | +2.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Revaluation surpluses | 12 | €759,564 | €759,564 | = | 0.0% |
| Reserves | 13 | €214,441 | €241,465 | +€27,024 | +12.6% |
| Non-distributable reserves | 130/1 | €16,250 | €16,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Other | 1319 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,691 | €52,715 | -€2,976 | -5.3% |
| Distributable reserves | 133 | €142,500 | €172,500 | +€30,000 | +21.1% |
| Profit (loss) carried forward | 14 | -€24,058 | -€24,002 | +€56 | +0.2% |
| Provisions and deferred taxes | 16 | €22,829 | €21,742 | -€1,087 | -4.8% |
| Deferred taxes | 168 | €22,829 | €21,742 | -€1,087 | -4.8% |
| Amounts payable | 17/49 | €560,623 | €488,648 | -€71,975 | -12.8% |
| Amounts payable after more than one year | 17 | €64,534 | €56,891 | -€7,642 | -11.8% |
| Financial debts | 170/4 | €23,755 | €14,358 | -€9,397 | -39.6% |
| Other amounts payable | 178/9 | €40,779 | €42,534 | +€1,755 | +4.3% |
| Amounts payable within one year | 42/48 | €488,184 | €421,302 | -€66,882 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €9,260 | €9,397 | +€137 | +1.5% |
| Financial debts | 43 | €1,366 | - | -€1,366 | |
| Credit institutions | 430/8 | €1,366 | - | -€1,366 | |
| Trade debts | 44 | €901 | €752 | -€148 | -16.5% |
| Suppliers | 440/4 | €901 | €752 | -€148 | -16.5% |
| Taxes, remuneration and social security | 45 | €6,936 | €10,141 | +€3,205 | +46.2% |
| Taxes | 450/3 | €6,936 | €10,141 | +€3,205 | +46.2% |
| Other amounts payable | 47/48 | €469,721 | €401,011 | -€68,710 | -14.6% |
| Accrued charges and deferred income | 492/3 | €7,905 | €10,455 | +€2,550 | +32.3% |
| Turnover | 70 | €222,117 | €229,332 | +€7,215 | +3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €110,711 | €121,646 | +€10,935 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,376 | €48,735 | -€4,641 | -8.7% |
| Other operating charges | 640/8 | €3,746 | €3,128 | -€618 | -16.5% |
| Non-recurring operating charges | 66A | - | €26 | +€26 | |
| Gross operating margin | 9900 | €111,406 | €107,686 | -€3,720 | -3.3% |
| Operating profit (loss) | 9901 | €54,285 | €55,796 | +€1,512 | +2.8% |
| Financial income | 75/76B | €65 | €54 | -€11 | -16.7% |
| Recurring financial income | 75 | €65 | €54 | -€11 | -16.7% |
| Financial charges | 65/66B | €14,463 | €14,524 | +€61 | +0.4% |
| Recurring financial charges | 65 | €14,463 | €14,524 | +€61 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €39,886 | €41,326 | +€1,440 | +3.6% |
| Transfer from deferred taxes | 780 | €1,095 | €1,087 | -€8 | -0.7% |
| Income taxes | 67/77 | €14,977 | €15,334 | +€357 | +2.4% |
| Profit (loss) for the period | 9904 | €26,004 | €27,080 | +€1,075 | +4.1% |
| Transfer from tax-exempt reserves | 789 | €3,006 | €2,976 | -€30 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,011 | €30,056 | +€1,045 | +3.6% |
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 8 October 2026 via checked.be.