SOGEFIR: 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.
SOGEFIR
Largest movements
- Receivables within one year +€433,096
up €433,096 (+34.9%), from €1.2m to €1.7m
of which Other amounts receivable: +€322,863
- Cash -€267,326
down €267,326 (-38.5%), from €694,280 to €426,954
mainly Receivables within one year (-€433,096) and Investment in fixed assets (net) (-€138,446)
- Tangible fixed assets +€54,445
up €54,445 (+36.7%), from €148,152 to €202,596
of which Other tangible fixed assets: +€51,955
- Reserves +€253,958
up €253,958 (+77.5%), from €327,669 to €581,627
of which Distributable reserves: +€253,958
- Trade debts +€66,588
up €66,588 (+220.1%), from €30,253 to €96,841
- Financial charges -€299,397
down €299,397, from €152,633 to -€146,764
- Turnover +€229,278
up €229,278 (+14.3%), from €1.6m to €1.8m
- Staff costs +€164,925
up €164,925 (+15.3%), from €1.1m to €1.2m
- Services and other goods +€61,519
up €61,519 (+14.1%), from €434,800 to €496,319
- Financial income -€39,253
down €39,253 (-35.3%), from €111,203 to €71,950
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,122,232 | €5,392,281 | +€270,049 | +5.3% |
| Fixed assets | 21/28 | €152,766 | €216,210 | +€63,444 | +41.5% |
| Tangible fixed assets | 22/27 | €148,152 | €202,596 | +€54,445 | +36.7% |
| Plant, machinery and equipment | 23 | - | €12,618 | +€12,618 | |
| Furniture and vehicles | 24 | €109,320 | €99,191 | -€10,128 | -9.3% |
| Other tangible fixed assets | 26 | €38,832 | €90,787 | +€51,955 | +133.8% |
| Financial fixed assets | 28 | €4,614 | €13,614 | +€8,999 | +195.0% |
| Other financial fixed assets | 284/8 | €4,614 | €13,614 | +€8,999 | +195.0% |
| Shares | 284 | €14 | €14 | -€1 | -4.5% |
| Amounts receivable and cash guarantees | 285/8 | €4,600 | €13,600 | +€9,000 | +195.7% |
| Current assets | 29/58 | €4,969,466 | €5,176,071 | +€206,605 | +4.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,241,434 | €1,674,530 | +€433,096 | +34.9% |
| Trade receivables | 40 | €946,757 | €1,056,991 | +€110,233 | +11.6% |
| Other amounts receivable | 41 | €294,677 | €617,540 | +€322,863 | +109.6% |
| Current investments | 50/53 | €3,018,236 | €3,044,880 | +€26,644 | +0.9% |
| Other investments | 51/53 | €3,018,236 | €3,044,880 | +€26,644 | +0.9% |
| Cash at bank and in hand | 54/58 | €694,280 | €426,954 | -€267,326 | -38.5% |
| Deferred charges and accrued income | 490/1 | €15,516 | €29,707 | +€14,191 | +91.5% |
| Total equity and liabilities | 10/49 | €5,122,232 | €5,392,281 | +€270,049 | +5.3% |
| Equity | 10/15 | €4,870,351 | €5,124,310 | +€253,958 | +5.2% |
| Contributions | 10/11 | €4,542,682 | €4,542,682 | = | 0.0% |
| Capital | 10 | €4,542,682 | €4,542,682 | = | 0.0% |
| Issued capital | 100 | €4,542,682 | €4,542,682 | = | 0.0% |
| Reserves | 13 | €327,669 | €581,627 | +€253,958 | +77.5% |
| Non-distributable reserves | 130/1 | €129,256 | €129,256 | = | 0.0% |
| Legal reserve | 130 | €129,256 | €129,256 | = | 0.0% |
| Distributable reserves | 133 | €198,413 | €452,371 | +€253,958 | +128.0% |
| Amounts payable | 17/49 | €251,881 | €267,971 | +€16,090 | +6.4% |
| Amounts payable within one year | 42/48 | €237,605 | €267,971 | +€30,367 | +12.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,253 | €96,841 | +€66,588 | +220.1% |
| Suppliers | 440/4 | €30,253 | €96,841 | +€66,588 | +220.1% |
| Taxes, remuneration and social security | 45 | €207,351 | €171,130 | -€36,221 | -17.5% |
| Taxes | 450/3 | €68,102 | €40,372 | -€27,730 | -40.7% |
| Remuneration and social security | 454/9 | €139,250 | €130,758 | -€8,491 | -6.1% |
| Accrued charges and deferred income | 492/3 | €14,276 | €0 | -€14,276 | -100.0% |
| Operating income | 70/76A | €1,626,475 | €1,863,801 | +€237,327 | +14.6% |
| Turnover | 70 | €1,599,097 | €1,828,375 | +€229,278 | +14.3% |
| Other operating income | 74 | €27,377 | €35,426 | +€8,049 | +29.4% |
| Operating charges | 60/66A | €1,579,960 | €1,826,220 | +€246,260 | +15.6% |
| Services and other goods | 61 | €434,800 | €496,319 | +€61,519 | +14.1% |
| Remuneration, social security and pensions | 62 | €1,074,930 | €1,239,855 | +€164,925 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,483 | €75,002 | +€12,519 | +20.0% |
| Other operating charges | 640/8 | €7,747 | €15,043 | +€7,297 | +94.2% |
| Operating profit (loss) | 9901 | €46,515 | €37,581 | -€8,934 | -19.2% |
| Financial income | 75/76B | €111,203 | €71,950 | -€39,253 | -35.3% |
| Recurring financial income | 75 | €111,203 | €71,950 | -€39,253 | -35.3% |
| Income from financial fixed assets | 750 | - | €0 | +€0 | |
| Income from current assets | 751 | €110,969 | €71,950 | -€39,019 | -35.2% |
| Other financial income | 752/9 | €233 | €0 | -€233 | -100.0% |
| Financial charges | 65/66B | €152,633 | -€146,764 | -€299,397 | |
| Recurring financial charges | 65 | €152,633 | -€146,764 | -€299,397 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €150,000 | -€150,000 | -€300,000 | |
| Other financial charges | 652/9 | €2,633 | €3,236 | +€603 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €5,085 | €256,296 | +€251,211 | +4940.4% |
| Income taxes | 67/77 | €2,225 | €2,337 | +€113 | +5.1% |
| Taxes | 670/3 | €2,225 | €2,354 | +€130 | +5.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €17 | +€17 | |
| Profit (loss) for the period | 9904 | €2,860 | €253,958 | +€251,098 | +8779.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,860 | €253,958 | +€251,098 | +8779.5% |
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 3 October 2026 via checked.be.