SOGESPI: 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.
SOGESPI
Largest movements
- Cash -€72,829
down €72,829 (-10.2%), from €713,478 to €640,649
mainly Contributions, distributions and other (-€89,000) and Receivables within one year (-€33,292)
- Tangible fixed assets -€45,449
down €45,449 (-4.8%), from €938,773 to €893,324
- Receivables within one year +€33,292
up €33,292 (+17.1%), from €195,099 to €228,391
of which Trade receivables: +€32,496
- Profit (loss) carried forward -€75,113
down €75,113 (-34.0%), from €220,673 to €145,561
- Gross operating margin +€91,850
up €91,850 (+87.7%), from €104,792 to €196,642
- Depreciation -€25,142
down €25,142 (-35.6%), from €70,591 to €45,449
- Staff costs +€3,137
up €3,137 (+4.2%), from €74,998 to €78,135
- Other operating charges +€2,230
up €2,230 (+3.7%), from €60,045 to €62,275
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 | €3,008,952 | €2,926,452 | -€82,500 | -2.7% |
| Fixed assets | 21/28 | €2,100,374 | €2,054,925 | -€45,449 | -2.2% |
| Tangible fixed assets | 22/27 | €938,773 | €893,324 | -€45,449 | -4.8% |
| Land and buildings | 22 | €938,773 | €893,324 | -€45,449 | -4.8% |
| Financial fixed assets | 28 | €1,161,601 | €1,161,601 | = | 0.0% |
| Current assets | 29/58 | €908,577 | €871,526 | -€37,051 | -4.1% |
| Amounts receivable within one year | 40/41 | €195,099 | €228,391 | +€33,292 | +17.1% |
| Trade receivables | 40 | €125,099 | €157,596 | +€32,496 | +26.0% |
| Other amounts receivable | 41 | €70,000 | €70,796 | +€796 | +1.1% |
| Cash at bank and in hand | 54/58 | €713,478 | €640,649 | -€72,829 | -10.2% |
| Deferred charges and accrued income | 490/1 | - | €2,486 | +€2,486 | |
| Total equity and liabilities | 10/49 | €3,008,952 | €2,926,452 | -€82,500 | -2.7% |
| Equity | 10/15 | €2,835,173 | €2,760,061 | -€75,113 | -2.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €232,000 | €232,000 | = | 0.0% |
| Reserves | 13 | €2,307,500 | €2,307,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €2,300,000 | €2,300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,673 | €145,561 | -€75,113 | -34.0% |
| Amounts payable | 17/49 | €173,778 | €166,391 | -€7,387 | -4.3% |
| Amounts payable after more than one year | 17 | €2,472 | - | -€2,472 | |
| Financial debts | 170/4 | €2,472 | - | -€2,472 | |
| Amounts payable within one year | 42/48 | €169,956 | €165,041 | -€4,915 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €5,415 | €2,472 | -€2,943 | -54.3% |
| Trade debts | 44 | €11,755 | €10,589 | -€1,166 | -9.9% |
| Suppliers | 440/4 | €11,755 | €10,589 | -€1,166 | -9.9% |
| Taxes, remuneration and social security | 45 | €45,233 | €45,327 | +€94 | +0.2% |
| Taxes | 450/3 | €28,597 | €30,395 | +€1,798 | +6.3% |
| Remuneration and social security | 454/9 | €16,636 | €14,932 | -€1,703 | -10.2% |
| Other amounts payable | 47/48 | €107,554 | €106,654 | -€900 | -0.8% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,350 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €74,998 | €78,135 | +€3,137 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,591 | €45,449 | -€25,142 | -35.6% |
| Other operating charges | 640/8 | €60,045 | €62,275 | +€2,230 | +3.7% |
| Gross operating margin | 9900 | €104,792 | €196,642 | +€91,850 | +87.7% |
| Operating profit (loss) | 9901 | -€100,842 | €10,783 | +€111,625 | |
| Financial income | 75/76B | €3,187 | €2,652 | -€534 | -16.8% |
| Recurring financial income | 75 | €3,187 | €2,652 | -€534 | -16.8% |
| Financial charges | 65/66B | €361 | €344 | -€17 | -4.8% |
| Recurring financial charges | 65 | €361 | €344 | -€17 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€98,016 | €13,091 | +€111,108 | |
| Income taxes | 67/77 | €136 | -€796 | -€932 | |
| Profit (loss) for the period | 9904 | -€98,153 | €13,887 | +€112,040 | |
| Profit (loss) for the period to be appropriated | 9905 | -€98,153 | €13,887 | +€112,040 |
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.