SOGESPHAR: 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.
SOGESPHAR
Largest movements
- Tangible fixed assets -€116,868
down €116,868 (-7.9%), from €1.5m to €1.4m
of which Land and buildings: -€112,017
- Cash +€88,169
up €88,169 (+47.4%), from €186,010 to €274,179
mainly Depreciation (+€116,868)
- Profit (loss) carried forward -€21,254
down €21,254 (-1.6%), from €1.3m to €1.3m
- Gross operating margin +€24,176
up €24,176 (+30.7%), from €78,626 to €102,802
- Depreciation -€7,775
down €7,775 (-6.2%), from €124,643 to €116,868
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 | €1,727,649 | €1,703,546 | -€24,103 | -1.4% |
| Fixed assets | 21/28 | €1,484,036 | €1,367,168 | -€116,868 | -7.9% |
| Tangible fixed assets | 22/27 | €1,484,036 | €1,367,168 | -€116,868 | -7.9% |
| Land and buildings | 22 | €1,469,654 | €1,357,637 | -€112,017 | -7.6% |
| Plant, machinery and equipment | 23 | €14,078 | €9,531 | -€4,547 | -32.3% |
| Furniture and vehicles | 24 | €304 | - | -€304 | |
| Current assets | 29/58 | €243,613 | €336,378 | +€92,765 | +38.1% |
| Amounts receivable within one year | 40/41 | €57,603 | €62,199 | +€4,596 | +8.0% |
| Trade receivables | 40 | €57,377 | €61,957 | +€4,580 | +8.0% |
| Other amounts receivable | 41 | €226 | €242 | +€16 | +7.1% |
| Cash at bank and in hand | 54/58 | €186,010 | €274,179 | +€88,169 | +47.4% |
| Total equity and liabilities | 10/49 | €1,727,649 | €1,703,546 | -€24,103 | -1.4% |
| Equity | 10/15 | €1,696,040 | €1,674,786 | -€21,254 | -1.3% |
| Contributions | 10/11 | €105,355 | €105,355 | = | 0.0% |
| Capital | 10 | €105,355 | €105,355 | = | 0.0% |
| Issued capital | 100 | €105,355 | €105,355 | = | 0.0% |
| Reserves | 13 | €266,614 | €266,614 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,086 | €11,086 | = | 0.0% |
| Legal reserve | 130 | €10,535 | €10,535 | = | 0.0% |
| Reserves not available under the articles | 1311 | €551 | €551 | = | 0.0% |
| Distributable reserves | 133 | €255,528 | €255,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,324,071 | €1,302,817 | -€21,254 | -1.6% |
| Amounts payable | 17/49 | €31,609 | €28,760 | -€2,849 | -9.0% |
| Amounts payable within one year | 42/48 | €31,609 | €28,760 | -€2,849 | -9.0% |
| Trade debts | 44 | €1,595 | €525 | -€1,070 | -67.1% |
| Suppliers | 440/4 | €1,595 | €525 | -€1,070 | -67.1% |
| Other amounts payable | 47/48 | €30,014 | €28,235 | -€1,779 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,643 | €116,868 | -€7,775 | -6.2% |
| Other operating charges | 640/8 | €8,071 | €8,770 | +€699 | +8.7% |
| Gross operating margin | 9900 | €78,626 | €102,802 | +€24,176 | +30.7% |
| Operating profit (loss) | 9901 | -€54,088 | -€22,836 | +€31,252 | +57.8% |
| Financial income | 75/76B | €1,578 | €1,858 | +€280 | +17.7% |
| Recurring financial income | 75 | €1,578 | €1,858 | +€280 | +17.7% |
| Financial charges | 65/66B | €211 | €276 | +€65 | +30.8% |
| Recurring financial charges | 65 | €211 | €276 | +€65 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | -€52,721 | -€21,254 | +€31,467 | +59.7% |
| Profit (loss) for the period | 9904 | -€52,721 | -€21,254 | +€31,467 | +59.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,721 | -€21,254 | +€31,467 | +59.7% |
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 25 October 2026 via checked.be.