SOGESDE: 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.
SOGESDE
Largest movements
- Cash +€98,695
up €98,695 (+20.1%), from €490,515 to €589,210
mainly Receivables within one year (+€49,879) and Net result for the year (+€41,849)
- Receivables within one year -€49,879
down €49,879 (-51.7%), from €96,394 to €46,516
of which Other amounts receivable: -€49,879
- Tangible fixed assets -€32,573
down €32,573 (-5.5%), from €597,032 to €564,459
of which Land and buildings: -€32,573
- Reserves +€20,849
up €20,849 (+6.8%), from €307,985 to €328,834
of which Non-distributable reserves: +€29,165
- Gross operating margin +€20,863
up €20,863 (+24.4%), from €85,646 to €106,509
- Taxes +€7,282
up €7,282 (+44.5%), from €16,368 to €23,650
- Other operating charges -€3,383
down €3,383 (-17.0%), from €19,928 to €16,545
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 | €1,187,545 | €1,204,928 | +€17,383 | +1.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €600,032 | €567,459 | -€32,573 | -5.4% |
| Tangible fixed assets | 22/27 | €597,032 | €564,459 | -€32,573 | -5.5% |
| Land and buildings | 22 | €597,032 | €564,459 | -€32,573 | -5.5% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €587,513 | €637,469 | +€49,956 | +8.5% |
| Amounts receivable within one year | 40/41 | €96,394 | €46,516 | -€49,879 | -51.7% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €96,394 | €46,516 | -€49,879 | -51.7% |
| Cash at bank and in hand | 54/58 | €490,515 | €589,210 | +€98,695 | +20.1% |
| Deferred charges and accrued income | 490/1 | €603 | €1,743 | +€1,140 | +189% |
| Total equity and liabilities | 10/49 | €1,187,545 | €1,204,928 | +€17,383 | +1.5% |
| Equity | 10/15 | €1,110,327 | €1,131,176 | +€20,849 | +1.9% |
| Contributions | 10/11 | €644,523 | €644,523 | = | 0.0% |
| Capital | 10 | €644,523 | €644,523 | = | 0.0% |
| Issued capital | 100 | €644,523 | €644,523 | = | 0.0% |
| Reserves | 13 | €307,985 | €328,834 | +€20,849 | +6.8% |
| Non-distributable reserves | 130/1 | €150,031 | €179,196 | +€29,165 | +19.4% |
| Legal reserve | 130 | €64,452 | €64,452 | = | 0.0% |
| Reserves not available under the articles | 1311 | €85,579 | €114,744 | +€29,165 | +34.1% |
| Tax-exempt reserves | 132 | €157,954 | €149,638 | -€8,317 | -5.3% |
| Profit (loss) carried forward | 14 | €157,819 | €157,819 | = | 0.0% |
| Provisions and deferred taxes | 16 | €60,440 | €57,303 | -€3,137 | -5.2% |
| Provisions for liabilities and charges | 160/5 | €60,440 | €57,303 | -€3,137 | -5.2% |
| Environmental obligations | 163 | €60,440 | €57,303 | -€3,137 | -5.2% |
| Amounts payable | 17/49 | €16,778 | €16,449 | -€328 | -2.0% |
| Amounts payable after more than one year | 17 | €5,182 | €2,508 | -€2,674 | -51.6% |
| Other amounts payable | 178/9 | €5,182 | €2,508 | -€2,674 | -51.6% |
| Amounts payable within one year | 42/48 | €10,985 | €13,941 | +€2,956 | +26.9% |
| Trade debts | 44 | €3,598 | €12,147 | +€8,549 | +238% |
| Suppliers | 440/4 | €3,598 | €12,147 | +€8,549 | +238% |
| Taxes, remuneration and social security | 45 | €7,388 | €1,794 | -€5,594 | -75.7% |
| Taxes | 450/3 | €7,388 | €1,794 | -€5,594 | -75.7% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €610 | €0 | -€610 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,219 | €32,573 | +€354 | +1.1% |
| Other operating charges | 640/8 | €19,928 | €16,545 | -€3,383 | -17.0% |
| Gross operating margin | 9900 | €85,646 | €106,509 | +€20,863 | +24.4% |
| Operating profit (loss) | 9901 | €33,499 | €57,391 | +€23,892 | +71.3% |
| Financial income | 75/76B | €6,221 | €5,530 | -€691 | -11.1% |
| Recurring financial income | 75 | €6,221 | €5,530 | -€691 | -11.1% |
| Financial charges | 65/66B | €458 | €559 | +€101 | +22.0% |
| Recurring financial charges | 65 | €458 | €559 | +€101 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €39,262 | €62,361 | +€23,099 | +58.8% |
| Transfer from deferred taxes | 780 | €3,137 | €3,137 | = | 0.0% |
| Income taxes | 67/77 | €16,368 | €23,650 | +€7,282 | +44.5% |
| Profit (loss) for the period | 9904 | €26,032 | €41,849 | +€15,817 | +60.8% |
| Transfer from tax-exempt reserves | 789 | €8,317 | €8,317 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,348 | €50,165 | +€15,817 | +46.0% |
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 21 October 2026 via checked.be.