SOGECONDROZ: 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
SOGECONDROZ
NACE 01.500, Mixed farming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · -€505,676-€685,258
Equity
€14.6m
2024 · €16.6m-€2.0m
Cash
€263,565
2024 · €174,853+€88,712
Balance sheet total
€22.6m
2024 · €25.2m-€2.5m
Largest movements
Assets
- Financial fixed assets -€7.7m
down €7.7m (-33.5%), from €23.0m to €15.3m
- Current investments +€6.2m
new in 2025: €6.2m
- Receivables within one year -€1.1m
down €1.1m (-83.2%), from €1.3m to €222,850
of which Other amounts receivable: -€713,300
Equity and liabilities
- Profit (loss) carried forward -€2.0m
down €2.0m (-12.2%), from €16.4m to €14.4m
- Short-term financial debts -€525,000
down €525,000 (-56.8%), from €925,000 to €400,000
Income statement
- Gross operating margin -€618,730
down €618,730 (-197.4%), from -€313,370 to -€932,100
- Financial charges +€18,871
up €18,871 (+5.3%), from €356,312 to €375,183
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
-€505,676
Gross operating margin
-€618,730
Staff costs
+€7,919
Depreciation
-€2,643
Other operating charges
+€496
Other operating items
-€61,347
Financial income
+€7,918
Financial charges
-€18,871
Result 2025
-€1.2m
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
+€8,759
Investment
+€1.4m
Financing
-€1.3m
Cash 2024
€174,853
From operations (derived)
+€8,759
Net result for the year
-€1.2m
Depreciation
+€34,903
Stocks and contracts
+€71,682
Receivables within one year
+€1.1m
Smaller working-capital items
-€6,859
Investment (derived)
+€1.4m
Investment in fixed assets (net)
+€7.6m
Current investments
-€6.2m
Financing
-€1.3m
Short-term financial debts
-€525,000
Contributions, distributions and other
-€813,559
Cash 2025
€263,565
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,155,212 | €22,622,908 | -€2.5m | -10.1% |
| Fixed assets | 21/28 | €23,249,385 | €15,595,970 | -€7.7m | -32.9% |
| Tangible fixed assets | 22/27 | €291,487 | €337,697 | +€46,210 | +15.9% |
| Land and buildings | 22 | €165,902 | €217,565 | +€51,663 | +31.1% |
| Plant, machinery and equipment | 23 | €6,522 | €6,207 | -€315 | -4.8% |
| Furniture and vehicles | 24 | €53,768 | €72,250 | +€18,482 | +34.4% |
| Other tangible fixed assets | 26 | €65,295 | €41,675 | -€23,620 | -36.2% |
| Financial fixed assets | 28 | €22,957,898 | €15,258,273 | -€7.7m | -33.5% |
| Current assets | 29/58 | €1,905,827 | €7,026,938 | +€5.1m | +268.7% |
| Stocks and contracts in progress | 3 | €407,820 | €336,138 | -€71,682 | -17.6% |
| Stocks | 30/36 | €407,820 | €336,138 | -€71,682 | -17.6% |
| Amounts receivable within one year | 40/41 | €1,322,817 | €222,850 | -€1.1m | -83.2% |
| Trade receivables | 40 | €457,657 | €70,990 | -€386,667 | -84.5% |
| Other amounts receivable | 41 | €865,160 | €151,860 | -€713,300 | -82.4% |
| Current investments | 50/53 | - | €6,200,000 | +€6.2m | |
| Cash at bank and in hand | 54/58 | €174,853 | €263,565 | +€88,712 | +50.7% |
| Deferred charges and accrued income | 490/1 | €337 | €4,385 | +€4,048 | +1201.2% |
| Total equity and liabilities | 10/49 | €25,155,212 | €22,622,908 | -€2.5m | -10.1% |
| Equity | 10/15 | €16,590,265 | €14,585,772 | -€2.0m | -12.1% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €39,663 | €39,663 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Distributable reserves | 133 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,401,866 | €14,397,373 | -€2.0m | -12.2% |
| Provisions and deferred taxes | 16 | €6,288,600 | €6,288,600 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €6,288,600 | €6,288,600 | = | 0.0% |
| Other liabilities and charges | 164/5 | €6,288,600 | €6,288,600 | = | 0.0% |
| Amounts payable | 17/49 | €2,276,347 | €1,748,536 | -€527,811 | -23.2% |
| Amounts payable after more than one year | 17 | €792,600 | €792,600 | = | 0.0% |
| Financial debts | 170/4 | €792,600 | €792,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,483,747 | €955,936 | -€527,811 | -35.6% |
| Financial debts | 43 | €925,000 | €400,000 | -€525,000 | -56.8% |
| Credit institutions | 430/8 | €925,000 | €400,000 | -€525,000 | -56.8% |
| Trade debts | 44 | €77,154 | €71,170 | -€5,984 | -7.8% |
| Suppliers | 440/4 | €77,154 | €71,170 | -€5,984 | -7.8% |
| Taxes, remuneration and social security | 45 | €2,012 | €753 | -€1,259 | -62.6% |
| Taxes | 450/3 | €1,873 | €753 | -€1,120 | -59.8% |
| Remuneration and social security | 454/9 | €139 | - | -€139 | |
| Other amounts payable | 47/48 | €479,581 | €484,013 | +€4,432 | +0.9% |
| Remuneration, social security and pensions | 62 | €7,919 | - | -€7,919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,260 | €34,903 | +€2,643 | +8.2% |
| Other operating charges | 640/8 | €7,681 | €7,185 | -€496 | -6.5% |
| Non-recurring operating charges | 66A | - | €61,347 | +€61,347 | |
| Gross operating margin | 9900 | -€313,370 | -€932,100 | -€618,730 | -197.4% |
| Operating profit (loss) | 9901 | -€361,230 | -€1,035,535 | -€674,305 | -186.7% |
| Financial income | 75/76B | €211,866 | €219,784 | +€7,918 | +3.7% |
| Recurring financial income | 75 | €211,866 | €219,784 | +€7,918 | +3.7% |
| Financial charges | 65/66B | €356,312 | €375,183 | +€18,871 | +5.3% |
| Recurring financial charges | 65 | €356,312 | €375,183 | +€18,871 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€505,676 | -€1,190,934 | -€685,258 | -135.5% |
| Profit (loss) for the period | 9904 | -€505,676 | -€1,190,934 | -€685,258 | -135.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€505,676 | -€1,190,934 | -€685,258 | -135.5% |
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.