SOGEDIS: 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.
SOGEDIS
Largest movements
- Tangible fixed assets -€224,962
down €224,962 (-64.0%), from €351,271 to €126,309
of which Land and buildings: -€235,905
- Cash +€108,265
up €108,265 (+52.5%), from €206,039 to €314,304
mainly Net result for the year (+€241,993) and Investment in fixed assets (net) (+€205,285)
- Receivables within one year -€77,049
down €77,049 (-4.7%), from €1.6m to €1.6m
of which Other amounts receivable: -€77,049
- Advances received -€310,358
down €310,358 (-29.0%), from €1.1m to €759,063
- Reserves +€82,000
up €82,000 (+46.8%), from €175,185 to €257,185
of which Distributable reserves: +€82,000
- Tax, wage and social debts +€39,833
up €39,833 (+20.7%), from €192,312 to €232,146
of which Taxes: +€52,358
- Taxes -€66,994
down €66,994 (-35.3%), from €189,567 to €122,573
- Staff costs -€43,860
down €43,860 (-18.4%), from €238,633 to €194,773
- Financial charges -€17,401
down €17,401 (-74.8%), from €23,278 to €5,877
- Depreciation -€13,008
down €13,008 (-39.8%), from €32,685 to €19,677
- Gross operating margin +€8,061
up €8,061 (+1.4%), from €563,969 to €572,030
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 | €2,758,425 | €2,564,678 | -€193,746 | -7.0% |
| Fixed assets | 21/28 | €903,829 | €678,867 | -€224,962 | -24.9% |
| Tangible fixed assets | 22/27 | €351,271 | €126,309 | -€224,962 | -64.0% |
| Land and buildings | 22 | €235,905 | €0 | -€235,905 | -100% |
| Plant, machinery and equipment | 23 | €55,933 | €53,040 | -€2,893 | -5.2% |
| Furniture and vehicles | 24 | €59,433 | €73,269 | +€13,836 | +23.3% |
| Financial fixed assets | 28 | €552,558 | €552,558 | = | 0.0% |
| Current assets | 29/58 | €1,854,596 | €1,885,811 | +€31,216 | +1.7% |
| Amounts receivable within one year | 40/41 | €1,648,557 | €1,571,508 | -€77,049 | -4.7% |
| Trade receivables | 40 | €4,634 | €4,634 | = | 0.0% |
| Other amounts receivable | 41 | €1,643,922 | €1,566,874 | -€77,049 | -4.7% |
| Cash at bank and in hand | 54/58 | €206,039 | €314,304 | +€108,265 | +52.5% |
| Total equity and liabilities | 10/49 | €2,758,425 | €2,564,678 | -€193,746 | -7.0% |
| Equity | 10/15 | €1,370,126 | €1,454,119 | +€83,993 | +6.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €175,185 | €257,185 | +€82,000 | +46.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €173,326 | €255,326 | +€82,000 | +47.3% |
| Profit (loss) carried forward | 14 | €1,176,349 | €1,178,342 | +€1,993 | +0.2% |
| Amounts payable | 17/49 | €1,388,298 | €1,110,559 | -€277,739 | -20.0% |
| Amounts payable after more than one year | 17 | €33,064 | €30,534 | -€2,530 | -7.7% |
| Financial debts | 170/4 | €33,064 | €30,534 | -€2,530 | -7.7% |
| Amounts payable within one year | 42/48 | €1,355,234 | €1,080,025 | -€275,209 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €11,298 | €17,723 | +€6,425 | +56.9% |
| Trade debts | 44 | €82,203 | €63,193 | -€19,009 | -23.1% |
| Suppliers | 440/4 | €82,203 | €63,193 | -€19,009 | -23.1% |
| Advances received on contracts in progress | 46 | €1,069,422 | €759,063 | -€310,358 | -29.0% |
| Taxes, remuneration and social security | 45 | €192,312 | €232,146 | +€39,833 | +20.7% |
| Taxes | 450/3 | €165,481 | €217,839 | +€52,358 | +31.6% |
| Remuneration and social security | 454/9 | €26,831 | €14,307 | -€12,525 | -46.7% |
| Other amounts payable | 47/48 | - | €7,900 | +€7,900 | |
| Non-recurring operating income | 76A | €14,580 | €80,663 | +€66,084 | +453% |
| Remuneration, social security and pensions | 62 | €238,633 | €194,773 | -€43,860 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,685 | €19,677 | -€13,008 | -39.8% |
| Other operating charges | 640/8 | €7,261 | €5,000 | -€2,261 | -31.1% |
| Non-recurring operating charges | 66A | €14,403 | - | -€14,403 | |
| Gross operating margin | 9900 | €563,969 | €572,030 | +€8,061 | +1.4% |
| Operating profit (loss) | 9901 | €270,987 | €352,579 | +€81,592 | +30.1% |
| Financial income | 75/76B | €16,591 | €17,863 | +€1,272 | +7.7% |
| Recurring financial income | 75 | €16,591 | €17,863 | +€1,272 | +7.7% |
| Financial charges | 65/66B | €23,278 | €5,877 | -€17,401 | -74.8% |
| Recurring financial charges | 65 | €23,278 | €5,877 | -€17,401 | -74.8% |
| Profit (loss) for the period before taxes | 9903 | €264,300 | €364,565 | +€100,266 | +37.9% |
| Income taxes | 67/77 | €189,567 | €122,573 | -€66,994 | -35.3% |
| Profit (loss) for the period | 9904 | €74,733 | €241,993 | +€167,260 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €74,733 | €241,993 | +€167,260 | +224% |
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 27 October 2026 via checked.be.