SOGERIM: what changed
What changed
SOGERIM
filed annual accounts (NBB)
Net result for the year
-€5,021
2024 · €5,005-€10,026
Equity
€170,625
2024 · €175,646-€5,021
Cash
€27,482
2024 · €779+€26,703
Balance sheet total
€319,760
2024 · €493,976-€174,215
Largest movements
Assets
- Receivables within one year -€204,193
down €204,193 (-85.2%), from €239,590 to €35,397
- Cash +€26,703
up €26,703 (+3,429%), from €779 to €27,482
mainly Receivables within one year (+€204,193) and Trade debts (+€16,945)
Equity and liabilities
- Other debts -€171,400
down €171,400 (-96.4%), from €177,774 to €6,374
- Trade debts +€16,945
up €16,945, from €0 to €16,945
- Debts after one year -€12,204
down €12,204 (-16.2%), from €75,178 to €62,974
- Reserves -€5,021
down €5,021 (-4.4%), from €113,646 to €108,625
of which Tax-exempt reserves: -€5,082
Income statement
- Taxes -€60,111
down €60,111 (-100.0%), from €60,133 to €22
- Financial charges -€45,161
down €45,161 (-92.4%), from €48,856 to €3,695
- Gross operating margin -€33,849
down €33,849 (-74.9%), from €45,181 to €11,332
- Other operating charges -€4,709
down €4,709 (-64.1%), from €7,340 to €2,632
- Financial income -€1,140
down €1,140 (-62.9%), from €1,814 to €674
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€5,005
Gross operating margin
-€33,849
Depreciation
-€139
Other operating charges
+€4,709
Financial income
-€1,140
Financial charges
+€45,161
Taxes
+€60,111
Deferred taxes and other
-€84,878
Result 2025
-€5,021
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€55,634
Investment
-€16,727
Financing
-€12,204
Cash 2024
€779
From operations (derived)
+€55,634
Net result for the year
-€5,021
Depreciation
+€13,295
Receivables within one year
+€204,193
Smaller working-capital items
+€240
Provisions
-€2,618
Trade debts
+€16,945
Other debts
-€171,400
Investment (derived)
-€16,727
Investment in fixed assets (net)
-€16,727
Financing
-€12,204
Debts after one year
-€12,204
Cash 2025
€27,482
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €493,976 | €319,760 | -€174,215 | -35.3% |
| Fixed assets | 21/28 | €253,267 | €256,698 | +€3,431 | +1.4% |
| Tangible fixed assets | 22/27 | €253,267 | €256,698 | +€3,431 | +1.4% |
| Land and buildings | 22 | €253,267 | €256,698 | +€3,431 | +1.4% |
| Current assets | 29/58 | €240,708 | €63,062 | -€177,646 | -73.8% |
| Amounts receivable within one year | 40/41 | €239,590 | €35,397 | -€204,193 | -85.2% |
| Other amounts receivable | 41 | €239,590 | €35,397 | -€204,193 | -85.2% |
| Cash at bank and in hand | 54/58 | €779 | €27,482 | +€26,703 | +3,429% |
| Deferred charges and accrued income | 490/1 | €340 | €184 | -€156 | -46.0% |
| Total equity and liabilities | 10/49 | €493,976 | €319,760 | -€174,215 | -35.3% |
| Equity | 10/15 | €175,646 | €170,625 | -€5,021 | -2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €113,646 | €108,625 | -€5,021 | -4.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €101,648 | €96,565 | -€5,082 | -5.0% |
| Distributable reserves | 133 | €5,798 | €5,860 | +€61 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €52,364 | €49,746 | -€2,618 | -5.0% |
| Deferred taxes | 168 | €52,364 | €49,746 | -€2,618 | -5.0% |
| Amounts payable | 17/49 | €265,966 | €99,390 | -€166,576 | -62.6% |
| Amounts payable after more than one year | 17 | €75,178 | €62,974 | -€12,204 | -16.2% |
| Financial debts | 170/4 | €75,178 | €62,974 | -€12,204 | -16.2% |
| Amounts payable within one year | 42/48 | €189,978 | €35,545 | -€154,433 | -81.3% |
| Current portion of amounts payable after more than one year | 42 | €12,204 | €12,204 | = | 0.0% |
| Trade debts | 44 | €0 | €16,945 | +€16,945 | |
| Suppliers | 440/4 | €0 | €16,945 | +€16,945 | |
| Taxes, remuneration and social security | 45 | €0 | €22 | +€22 | |
| Taxes | 450/3 | €0 | €22 | +€22 | |
| Other amounts payable | 47/48 | €177,774 | €6,374 | -€171,400 | -96.4% |
| Accrued charges and deferred income | 492/3 | €810 | €871 | +€61 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,156 | €13,295 | +€139 | +1.1% |
| Other operating charges | 640/8 | €7,340 | €2,632 | -€4,709 | -64.1% |
| Gross operating margin | 9900 | €45,181 | €11,332 | -€33,849 | -74.9% |
| Operating profit (loss) | 9901 | €24,685 | -€4,595 | -€29,280 | |
| Financial income | 75/76B | €1,814 | €674 | -€1,140 | -62.9% |
| Recurring financial income | 75 | €1,814 | €674 | -€1,140 | -62.9% |
| Financial charges | 65/66B | €48,856 | €3,695 | -€45,161 | -92.4% |
| Recurring financial charges | 65 | €48,856 | €3,695 | -€45,161 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,358 | -€7,617 | +€14,741 | +65.9% |
| Transfer from deferred taxes | 780 | €87,496 | €2,618 | -€84,878 | -97.0% |
| Income taxes | 67/77 | €60,133 | €22 | -€60,111 | -100.0% |
| Profit (loss) for the period | 9904 | €5,005 | -€5,021 | -€10,026 | |
| Transfer from tax-exempt reserves | 789 | €169,846 | €5,082 | -€164,764 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €174,852 | €61 | -€174,790 | -100.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.