SOGESER: 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.
SOGESER
Largest movements
- Tangible fixed assets -€930,115
down €930,115 (-96.7%), from €961,796 to €31,681
of which Land and buildings: -€929,156
- Current investments +€240,308
up €240,308 (+49.6%), from €484,790 to €725,098
- Receivables within one year -€25,169
down €25,169 (-11.7%), from €215,910 to €190,741
of which Other amounts receivable: -€41,987
- Reserves -€737,905
down €737,905 (-44.6%), from €1.7m to €915,029
of which Distributable reserves: -€781,674
- Gross operating margin +€256,634
up €256,634 (+140%), from €182,954 to €439,587
- Financial charges +€29,206
up €29,206, from -€22,338 to €6,867
- Other operating charges +€9,163
up €9,163 (+340%), from €2,695 to €11,857
- Taxes +€7,049
up €7,049 (+15.2%), from €46,466 to €53,514
- Financial income -€5,275
down €5,275 (-36.9%), from €14,277 to €9,002
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 | €1,846,778 | €1,124,410 | -€722,368 | -39.1% |
| Fixed assets | 21/28 | €1,102,096 | €172,581 | -€929,515 | -84.3% |
| Tangible fixed assets | 22/27 | €961,796 | €31,681 | -€930,115 | -96.7% |
| Land and buildings | 22 | €959,665 | €30,509 | -€929,156 | -96.8% |
| Other tangible fixed assets | 26 | €2,130 | €1,172 | -€959 | -45.0% |
| Financial fixed assets | 28 | €140,300 | €140,900 | +€600 | +0.4% |
| Current assets | 29/58 | €744,683 | €951,829 | +€207,147 | +27.8% |
| Amounts receivable within one year | 40/41 | €215,910 | €190,741 | -€25,169 | -11.7% |
| Trade receivables | 40 | €65,756 | €82,573 | +€16,817 | +25.6% |
| Other amounts receivable | 41 | €150,154 | €108,167 | -€41,987 | -28.0% |
| Current investments | 50/53 | €484,790 | €725,098 | +€240,308 | +49.6% |
| Cash at bank and in hand | 54/58 | €43,301 | €35,270 | -€8,031 | -18.5% |
| Deferred charges and accrued income | 490/1 | €681 | €720 | +€39 | +5.7% |
| Total equity and liabilities | 10/49 | €1,846,778 | €1,124,410 | -€722,368 | -39.1% |
| Equity | 10/15 | €1,803,517 | €1,061,862 | -€741,655 | -41.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €3,750 | - | -€3,750 | |
| Reserves | 13 | €1,652,934 | €915,029 | -€737,905 | -44.6% |
| Tax-exempt reserves | 132 | - | €43,770 | +€43,770 | |
| Distributable reserves | 133 | €1,652,934 | €871,259 | -€781,674 | -47.3% |
| Profit (loss) carried forward | 14 | €128,234 | €128,234 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €14,590 | +€14,590 | |
| Deferred taxes | 168 | - | €14,590 | +€14,590 | |
| Amounts payable | 17/49 | €43,261 | €47,958 | +€4,697 | +10.9% |
| Amounts payable within one year | 42/48 | €42,561 | €47,209 | +€4,648 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €15,500 | - | -€15,500 | |
| Trade debts | 44 | €1,158 | €12,953 | +€11,795 | +1,018% |
| Suppliers | 440/4 | €1,158 | €12,953 | +€11,795 | +1,018% |
| Taxes, remuneration and social security | 45 | €25,342 | €34,256 | +€8,914 | +35.2% |
| Taxes | 450/3 | €25,342 | €34,256 | +€8,914 | +35.2% |
| Other amounts payable | 47/48 | €561 | - | -€561 | |
| Accrued charges and deferred income | 492/3 | €700 | €749 | +€49 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,187 | €57,474 | -€1,713 | -2.9% |
| Other operating charges | 640/8 | €2,695 | €11,857 | +€9,163 | +340% |
| Gross operating margin | 9900 | €182,954 | €439,587 | +€256,634 | +140% |
| Operating profit (loss) | 9901 | €121,072 | €370,256 | +€249,184 | +206% |
| Financial income | 75/76B | €14,277 | €9,002 | -€5,275 | -36.9% |
| Recurring financial income | 75 | €14,277 | €9,002 | -€5,275 | -36.9% |
| Financial charges | 65/66B | -€22,338 | €6,867 | +€29,206 | |
| Recurring financial charges | 65 | -€22,338 | €6,867 | +€29,206 | |
| Profit (loss) for the period before taxes | 9903 | €157,687 | €372,390 | +€214,703 | +136% |
| Transfer to deferred taxes | 680 | - | €14,590 | +€14,590 | |
| Income taxes | 67/77 | €46,466 | €53,514 | +€7,049 | +15.2% |
| Profit (loss) for the period | 9904 | €111,221 | €304,286 | +€193,065 | +174% |
| Transfer to tax-exempt reserves | 689 | - | €43,770 | +€43,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,221 | €260,516 | +€149,295 | +134% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.