SOGEFIM: 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
SOGEFIM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€40,389
2024 · -€537,707+€578,096
Equity
€6.4m
2024 · €6.3m+€40,389
Cash
€208,438
2024 · €206,682+€1,756
Balance sheet total
€20.4m
2024 · €16.4m+€4.0m
Largest movements
Assets
- Financial fixed assets +€5.2m
up €5.2m (+43595.6%), from €11,893 to €5.2m
- Receivables after one year -€2.3m
down €2.3m (-71.8%), from €3.2m to €910,500
- Tangible fixed assets +€948,780
up €948,780 (+9.8%), from €9.7m to €10.7m
of which Land and buildings: +€599,402
- Receivables within one year +€231,772
up €231,772 (+364.5%), from €63,594 to €295,366
of which Other amounts receivable: +€231,772
Equity and liabilities
- Debts after one year +€3.2m
up €3.2m (+172.3%), from €1.8m to €5.0m
of which Other amounts payable: +€1.6m
- Trade debts +€568,687
up €568,687 (+186.6%), from €304,725 to €873,412
- Short-term financial debts +€464,785
up €464,785 (+8.4%), from €5.5m to €6.0m
Income statement
- Gross operating margin +€703,666
up €703,666 (+398.3%), from €176,681 to €880,348
- Depreciation +€109,681
up €109,681 (+31.3%), from €350,315 to €459,996
- Financial charges +€32,864
up €32,864 (+8.6%), from €381,220 to €414,083
- Other operating charges +€25,815
up €25,815 (+54.3%), from €47,553 to €73,369
- Financial income -€25,105
down €25,105 (-58.0%), from €43,316 to €18,211
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
-€537,707
Gross operating margin
+€703,666
Staff costs
+€11,284
Depreciation
-€109,681
Other operating charges
-€25,815
Financial income
-€25,105
Financial charges
-€32,864
Taxes
+€290
Deferred taxes and other
+€56,321
Result 2025
€40,389
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
+€2.9m
Investment
-€6.6m
Financing
+€3.7m
Cash 2024
€206,682
From operations (derived)
+€2.9m
Net result for the year
+€40,389
Depreciation
+€459,996
Receivables after one year
+€2.3m
Stocks and contracts
+€42,294
Receivables within one year
-€231,772
Deferred charges and accrued income
+€17,480
Provisions
-€118,909
Trade debts
+€568,687
Tax, wage and social debts
-€8,854
Other debts
-€180,352
Accrued charges and deferred income
-€51,475
Investment (derived)
-€6.6m
Investment in fixed assets (net)
-€6.6m
Financing
+€3.7m
Debts after one year
+€3.2m
Current portion of long-term debt
+€106,698
Short-term financial debts
+€464,785
Cash 2025
€208,438
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,376,560 | €20,371,094 | +€4.0m | +24.4% |
| Fixed assets | 21/28 | €9,732,633 | €15,866,413 | +€6.1m | +63.0% |
| Tangible fixed assets | 22/27 | €9,720,740 | €10,669,519 | +€948,780 | +9.8% |
| Land and buildings | 22 | €9,410,803 | €10,010,206 | +€599,402 | +6.4% |
| Furniture and vehicles | 24 | €18,802 | €12,349 | -€6,453 | -34.3% |
| Assets under construction and advance payments | 27 | €291,134 | €646,965 | +€355,831 | +122.2% |
| Financial fixed assets | 28 | €11,893 | €5,196,893 | +€5.2m | +43595.6% |
| Current assets | 29/58 | €6,643,927 | €4,504,681 | -€2.1m | -32.2% |
| Amounts receivable after more than one year | 29 | €3,223,500 | €910,500 | -€2.3m | -71.8% |
| Other amounts receivable | 291 | €3,223,500 | €910,500 | -€2.3m | -71.8% |
| Stocks and contracts in progress | 3 | €3,101,222 | €3,058,928 | -€42,294 | -1.4% |
| Stocks | 30/36 | €3,101,222 | €3,058,928 | -€42,294 | -1.4% |
| Amounts receivable within one year | 40/41 | €63,594 | €295,366 | +€231,772 | +364.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €63,594 | €295,366 | +€231,772 | +364.5% |
| Cash at bank and in hand | 54/58 | €206,682 | €208,438 | +€1,756 | +0.8% |
| Deferred charges and accrued income | 490/1 | €48,930 | €31,450 | -€17,480 | -35.7% |
| Total equity and liabilities | 10/49 | €16,376,560 | €20,371,094 | +€4.0m | +24.4% |
| Equity | 10/15 | €6,331,836 | €6,372,225 | +€40,389 | +0.6% |
| Contributions | 10/11 | €1,391,137 | €1,391,137 | = | 0.0% |
| Reserves | 13 | €4,940,699 | €4,981,088 | +€40,389 | +0.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €4,005,143 | €3,710,854 | -€294,289 | -7.3% |
| Distributable reserves | 133 | €935,555 | €1,270,233 | +€334,678 | +35.8% |
| Provisions and deferred taxes | 16 | €1,596,974 | €1,478,066 | -€118,909 | -7.4% |
| Deferred taxes | 168 | €1,596,974 | €1,478,066 | -€118,909 | -7.4% |
| Amounts payable | 17/49 | €8,447,750 | €12,520,804 | +€4.1m | +48.2% |
| Amounts payable after more than one year | 17 | €1,842,412 | €5,015,977 | +€3.2m | +172.3% |
| Financial debts | 170/4 | €1,842,412 | €3,423,977 | +€1.6m | +85.8% |
| Other amounts payable | 178/9 | €0 | €1,592,000 | +€1.6m | |
| Amounts payable within one year | 42/48 | €6,499,496 | €7,450,461 | +€950,965 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €318,584 | €425,282 | +€106,698 | +33.5% |
| Financial debts | 43 | €5,514,473 | €5,979,258 | +€464,785 | +8.4% |
| Credit institutions | 430/8 | €5,514,473 | €5,979,258 | +€464,785 | +8.4% |
| Trade debts | 44 | €304,725 | €873,412 | +€568,687 | +186.6% |
| Suppliers | 440/4 | €304,725 | €873,412 | +€568,687 | +186.6% |
| Taxes, remuneration and social security | 45 | €8,914 | €60 | -€8,854 | -99.3% |
| Taxes | 450/3 | €971 | €60 | -€910 | -93.8% |
| Remuneration and social security | 454/9 | €7,943 | €0 | -€7,943 | -100.0% |
| Other amounts payable | 47/48 | €352,800 | €172,449 | -€180,352 | -51.1% |
| Accrued charges and deferred income | 492/3 | €105,841 | €54,366 | -€51,475 | -48.6% |
| Non-recurring operating income | 76A | €6,492 | €0 | -€6,492 | -100.0% |
| Remuneration, social security and pensions | 62 | €40,854 | €29,570 | -€11,284 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350,315 | €459,996 | +€109,681 | +31.3% |
| Other operating charges | 640/8 | €47,553 | €73,369 | +€25,815 | +54.3% |
| Gross operating margin | 9900 | €176,681 | €880,348 | +€703,666 | +398.3% |
| Operating profit (loss) | 9901 | -€262,041 | €317,412 | +€579,454 | |
| Financial income | 75/76B | €43,316 | €18,211 | -€25,105 | -58.0% |
| Recurring financial income | 75 | €43,316 | €18,211 | -€25,105 | -58.0% |
| Financial charges | 65/66B | €381,220 | €414,083 | +€32,864 | +8.6% |
| Recurring financial charges | 65 | €381,220 | €414,083 | +€32,864 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | -€599,944 | -€78,460 | +€521,485 | +86.9% |
| Transfer from deferred taxes | 780 | €62,588 | €118,909 | +€56,321 | +90.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €351 | €60 | -€290 | -82.8% |
| Profit (loss) for the period | 9904 | -€537,707 | €40,389 | +€578,096 | |
| Transfer from tax-exempt reserves | 789 | €132,530 | €294,314 | +€161,783 | +122.1% |
| Transfer to tax-exempt reserves | 689 | €0 | €25 | +€25 | |
| Profit (loss) for the period to be appropriated | 9905 | -€405,177 | €334,678 | +€739,855 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.