SOGELOC: 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.
What changed
SOGELOC
NACE 43.990, Other specialised construction activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€28,958
2024 · €11,170+€17,788
Equity
€533,725
2024 · €509,767+€23,958
Cash
€121,938
2024 · €112,488+€9,449
Balance sheet total
€1.3m
2024 · €1.0m+€248,480
Largest movements
Assets
- Tangible fixed assets +€227,135
up €227,135 (+51.5%), from €440,913 to €668,048
of which Leasing and similar rights: +€223,629
- Receivables within one year +€61,919
up €61,919 (+34.4%), from €180,189 to €242,108
of which Trade receivables: +€70,926
- Current investments -€50,000
down €50,000 (-20.0%), from €250,000 to €200,000
Equity and liabilities
- Debts after one year +€200,546
up €200,546 (+68.5%), from €292,561 to €493,107
of which Financial debts: +€200,546
- Current portion of long-term debt +€45,513
up €45,513 (+62.4%), from €72,996 to €118,509
- Trade debts -€27,766
down €27,766 (-24.2%), from €114,915 to €87,149
- Profit (loss) carried forward +€23,958
up €23,958 (+214%), from €11,170 to €35,128
Income statement
- Staff costs -€40,467
down €40,467 (-13.5%), from €300,373 to €259,906
- Turnover -€28,408
down €28,408 (-3.7%), from €765,332 to €736,925
- Purchases and services +€27,019
up €27,019 (+8.3%), from €327,202 to €354,221
- Other operating charges -€20,239
down €20,239 (-54.7%), from €36,974 to €16,735
- Gross operating margin -€19,917
down €19,917 (-4.1%), from €481,945 to €462,028
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
€11,170
Gross operating margin
-€19,917
Staff costs
+€40,467
Depreciation
-€12,972
Write-downs
-€3,175
Other operating charges
+€20,239
Other operating items
+€787
Financial income
+€664
Financial charges
-€3,187
Taxes
-€5,118
Result 2025
€28,958
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€76,860
Investment
-€308,470
Financing
+€241,059
Cash 2024
€112,488
From operations (derived)
+€76,860
Net result for the year
+€28,958
Depreciation
+€131,335
Smaller working-capital items
+€1,253
Receivables within one year
-€61,919
Trade debts
-€27,766
Other debts
+€5,000
Investment (derived)
-€308,470
Investment in fixed assets (net)
-€358,470
Current investments
+€50,000
Financing
+€241,059
Debts after one year
+€200,546
Current portion of long-term debt
+€45,513
Contributions, distributions and other
-€5,000
Cash 2025
€121,938
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,003,564 | €1,252,044 | +€248,480 | +24.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €441,033 | €668,168 | +€227,135 | +51.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €440,913 | €668,048 | +€227,135 | +51.5% |
| Land and buildings | 22 | €67,946 | €70,263 | +€2,317 | +3.4% |
| Plant, machinery and equipment | 23 | €64,313 | €59,711 | -€4,602 | -7.2% |
| Furniture and vehicles | 24 | €10,796 | €18,088 | +€7,291 | +67.5% |
| Leasing and similar rights | 25 | €293,417 | €517,046 | +€223,629 | +76.2% |
| Other tangible fixed assets | 26 | €4,440 | €2,940 | -€1,500 | -33.8% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €562,532 | €583,876 | +€21,345 | +3.8% |
| Stocks and contracts in progress | 3 | €10,560 | €9,837 | -€724 | -6.9% |
| Stocks | 30/36 | €10,560 | €9,837 | -€724 | -6.9% |
| Amounts receivable within one year | 40/41 | €180,189 | €242,108 | +€61,919 | +34.4% |
| Trade receivables | 40 | €166,459 | €237,385 | +€70,926 | +42.6% |
| Other amounts receivable | 41 | €13,730 | €4,723 | -€9,007 | -65.6% |
| Current investments | 50/53 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €112,488 | €121,938 | +€9,449 | +8.4% |
| Deferred charges and accrued income | 490/1 | €9,294 | €9,994 | +€700 | +7.5% |
| Total equity and liabilities | 10/49 | €1,003,564 | €1,252,044 | +€248,480 | +24.8% |
| Equity | 10/15 | €509,767 | €533,725 | +€23,958 | +4.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €492,297 | €492,297 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,531 | €6,531 | = | 0.0% |
| Distributable reserves | 133 | €483,906 | €483,906 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,170 | €35,128 | +€23,958 | +214% |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Provisions for liabilities and charges | 160/5 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €0 | €0 | = | |
| Amounts payable | 17/49 | €493,797 | €718,319 | +€224,522 | +45.5% |
| Amounts payable after more than one year | 17 | €292,561 | €493,107 | +€200,546 | +68.5% |
| Financial debts | 170/4 | €291,818 | €492,363 | +€200,546 | +68.7% |
| Other amounts payable | 178/9 | €744 | €744 | = | 0.0% |
| Amounts payable within one year | 42/48 | €200,649 | €224,037 | +€23,388 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €72,996 | €118,509 | +€45,513 | +62.4% |
| Trade debts | 44 | €114,915 | €87,149 | -€27,766 | -24.2% |
| Suppliers | 440/4 | €114,915 | €87,149 | -€27,766 | -24.2% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €12,739 | €13,379 | +€641 | +5.0% |
| Taxes | 450/3 | €4,312 | €4,519 | +€207 | +4.8% |
| Remuneration and social security | 454/9 | €8,427 | €8,860 | +€433 | +5.1% |
| Other amounts payable | 47/48 | €0 | €5,000 | +€5,000 | |
| Accrued charges and deferred income | 492/3 | €587 | €1,176 | +€589 | +100% |
| Turnover | 70 | €765,332 | €736,925 | -€28,408 | -3.7% |
| Non-recurring operating income | 76A | €14,712 | €50,127 | +€35,415 | +241% |
| Goods, raw materials, services and sundry goods | 60/61 | €327,202 | €354,221 | +€27,019 | +8.3% |
| Remuneration, social security and pensions | 62 | €300,373 | €259,906 | -€40,467 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,363 | €131,335 | +€12,972 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,684 | €1,491 | +€3,175 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €0 | = | |
| Other operating charges | 640/8 | €36,974 | €16,735 | -€20,239 | -54.7% |
| Non-recurring operating charges | 66A | €787 | €0 | -€787 | -100% |
| Gross operating margin | 9900 | €481,945 | €462,028 | -€19,917 | -4.1% |
| Operating profit (loss) | 9901 | €27,133 | €52,561 | +€25,428 | +93.7% |
| Financial income | 75/76B | €4,911 | €5,576 | +€664 | +13.5% |
| Recurring financial income | 75 | €4,911 | €5,543 | +€632 | +12.9% |
| Non-recurring financial income | 76B | - | €33 | +€33 | |
| Financial charges | 65/66B | €17,372 | €20,558 | +€3,187 | +18.3% |
| Recurring financial charges | 65 | €17,372 | €20,558 | +€3,187 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €14,672 | €37,578 | +€22,906 | +156% |
| Income taxes | 67/77 | €3,502 | €8,621 | +€5,118 | +146% |
| Profit (loss) for the period | 9904 | €11,170 | €28,958 | +€17,788 | +159% |
| Profit (loss) for the period to be appropriated | 9905 | €11,170 | €28,958 | +€17,788 | +159% |
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 1 November 2026 via checked.be.