SOGELEM: 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.
SOGELEM
Largest movements
- Receivables within one year +€688,160
up €688,160 (+50.0%), from €1.4m to €2.1m
of which Other amounts receivable: +€537,214
- Financial fixed assets -€524,802
down €524,802 (-9.3%), from €5.7m to €5.1m
- Cash -€349,341
down €349,341 (-38.6%), from €904,869 to €555,528
mainly Receivables within one year (-€688,160) and Debts after one year (-€321,976)
- Tangible fixed assets -€311,554
down €311,554 (-4.9%), from €6.4m to €6.1m
of which Land and buildings: -€241,572
- Profit (loss) carried forward +€387,773
up €387,773 (+6.7%), from €5.8m to €6.2m
- Debts after one year -€321,976
down €321,976 (-15.0%), from €2.1m to €1.8m
- Other debts -€253,879
down €253,879 (-6.7%), from €3.8m to €3.5m
- Trade debts -€207,649
down €207,649 (-37.2%), from €557,983 to €350,334
- Financial income +€476,644
up €476,644 (+74.8%), from €637,508 to €1.1m
- Gross operating margin -€205,051
down €205,051 (-61.3%), from €334,553 to €129,502
- Financial charges +€61,128
up €61,128 (+15.1%), from €404,636 to €465,765
- Depreciation +€22,201
up €22,201 (+6.7%), from €332,829 to €355,030
- Taxes +€9,891
up €9,891 (+302%), from €3,274 to €13,165
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 | €14,362,877 | €13,860,524 | -€502,352 | -3.5% |
| Fixed assets | 21/28 | €12,073,049 | €11,234,835 | -€838,214 | -6.9% |
| Intangible fixed assets | 21 | €4,414 | €2,557 | -€1,858 | -42.1% |
| Tangible fixed assets | 22/27 | €6,416,193 | €6,104,639 | -€311,554 | -4.9% |
| Land and buildings | 22 | €5,903,971 | €5,662,400 | -€241,572 | -4.1% |
| Plant, machinery and equipment | 23 | €99,400 | €85,074 | -€14,325 | -14.4% |
| Furniture and vehicles | 24 | €163,862 | €179,242 | +€15,380 | +9.4% |
| Leasing and similar rights | 25 | €248,960 | €177,923 | -€71,038 | -28.5% |
| Financial fixed assets | 28 | €5,652,442 | €5,127,640 | -€524,802 | -9.3% |
| Current assets | 29/58 | €2,289,828 | €2,625,689 | +€335,862 | +14.7% |
| Amounts receivable within one year | 40/41 | €1,377,602 | €2,065,761 | +€688,160 | +50.0% |
| Trade receivables | 40 | €49,493 | €200,438 | +€150,945 | +305% |
| Other amounts receivable | 41 | €1,328,109 | €1,865,323 | +€537,214 | +40.4% |
| Current investments | 50/53 | €4,400 | €4,400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €904,869 | €555,528 | -€349,341 | -38.6% |
| Deferred charges and accrued income | 490/1 | €2,957 | - | -€2,957 | |
| Total equity and liabilities | 10/49 | €14,362,877 | €13,860,524 | -€502,352 | -3.5% |
| Equity | 10/15 | €7,363,061 | €7,750,834 | +€387,773 | +5.3% |
| Contributions | 10/11 | €1,037,000 | €1,037,000 | = | 0.0% |
| Capital | 10 | €1,037,000 | €1,037,000 | = | 0.0% |
| Issued capital | 100 | €1,037,000 | €1,037,000 | = | 0.0% |
| Reserves | 13 | €508,450 | €508,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €103,700 | €103,700 | = | 0.0% |
| Legal reserve | 130 | €103,700 | €103,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €145,250 | €145,250 | = | 0.0% |
| Distributable reserves | 133 | €259,500 | €259,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,817,611 | €6,205,384 | +€387,773 | +6.7% |
| Amounts payable | 17/49 | €6,999,816 | €6,109,690 | -€890,126 | -12.7% |
| Amounts payable after more than one year | 17 | €2,139,410 | €1,817,434 | -€321,976 | -15.0% |
| Financial debts | 170/4 | €2,139,410 | €1,817,434 | -€321,976 | -15.0% |
| Amounts payable within one year | 42/48 | €4,859,516 | €4,292,257 | -€567,260 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €340,561 | €329,747 | -€10,814 | -3.2% |
| Financial debts | 43 | €42,639 | - | -€42,639 | |
| Credit institutions | 430/8 | €42,639 | - | -€42,639 | |
| Trade debts | 44 | €557,983 | €350,334 | -€207,649 | -37.2% |
| Suppliers | 440/4 | €557,983 | €350,334 | -€207,649 | -37.2% |
| Taxes, remuneration and social security | 45 | €127,462 | €75,183 | -€52,279 | -41.0% |
| Taxes | 450/3 | €120,462 | €75,183 | -€45,279 | -37.6% |
| Remuneration and social security | 454/9 | €7,000 | - | -€7,000 | |
| Other amounts payable | 47/48 | €3,790,872 | €3,536,993 | -€253,879 | -6.7% |
| Accrued charges and deferred income | 492/3 | €890 | - | -€890 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €332,829 | €355,030 | +€22,201 | +6.7% |
| Other operating charges | 640/8 | €23,669 | €21,920 | -€1,749 | -7.4% |
| Gross operating margin | 9900 | €334,553 | €129,502 | -€205,051 | -61.3% |
| Operating profit (loss) | 9901 | -€21,945 | -€247,448 | -€225,503 | -1,028% |
| Financial income | 75/76B | €637,508 | €1,114,152 | +€476,644 | +74.8% |
| Recurring financial income | 75 | €637,508 | €1,114,152 | +€476,644 | +74.8% |
| Financial charges | 65/66B | €404,636 | €465,765 | +€61,128 | +15.1% |
| Recurring financial charges | 65 | €404,636 | €465,765 | +€61,128 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €210,926 | €400,939 | +€190,013 | +90.1% |
| Income taxes | 67/77 | €3,274 | €13,165 | +€9,891 | +302% |
| Profit (loss) for the period | 9904 | €207,652 | €387,773 | +€180,122 | +86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €207,652 | €387,773 | +€180,122 | +86.7% |
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 18 October 2026 via checked.be.