SOGHEM: 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.
SOGHEM
Largest movements
- Tangible fixed assets -€68,970
down €68,970 (-15.2%), from €454,312 to €385,342
of which Land and buildings: -€68,970
- Cash -€54,510
down €54,510 (-53.3%), from €102,224 to €47,714
mainly Contributions, distributions and other (-€109,902) and Net result for the year (-€50,294)
- Receivables within one year -€36,440
down €36,440 (-100%), from €36,440 to €0
- Reserves -€68,422
down €68,422 (-23.7%), from €288,446 to €220,024
of which Tax-exempt reserves: -€49,085
- Contributions -€59,694
down €59,694 (-13.6%), from €440,000 to €380,306
- Profit (loss) carried forward -€32,080
new in 2025: -€32,080
- Gross operating margin -€28,579
down €28,579, from €1,931 to -€26,649
- Depreciation -€24,493
down €24,493 (-60.5%), from €40,469 to €15,977
- Other operating charges +€2,720
up €2,720 (+39.5%), from €6,881 to €9,601
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 | €819,548 | €652,556 | -€166,992 | -20.4% |
| Fixed assets | 21/28 | €454,312 | €385,342 | -€68,970 | -15.2% |
| Tangible fixed assets | 22/27 | €454,312 | €385,342 | -€68,970 | -15.2% |
| Land and buildings | 22 | €454,312 | €385,342 | -€68,970 | -15.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €365,236 | €267,214 | -€98,022 | -26.8% |
| Amounts receivable within one year | 40/41 | €36,440 | €0 | -€36,440 | -100% |
| Trade receivables | 40 | €36,440 | €0 | -€36,440 | -100% |
| Current investments | 50/53 | €175,000 | €175,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €102,224 | €47,714 | -€54,510 | -53.3% |
| Deferred charges and accrued income | 490/1 | €51,572 | €44,500 | -€7,072 | -13.7% |
| Total equity and liabilities | 10/49 | €819,548 | €652,556 | -€166,992 | -20.4% |
| Equity | 10/15 | €728,446 | €568,250 | -€160,196 | -22.0% |
| Contributions | 10/11 | €440,000 | €380,306 | -€59,694 | -13.6% |
| Capital | 10 | €440,000 | €380,306 | -€59,694 | -13.6% |
| Issued capital | 100 | €440,000 | €380,306 | -€59,694 | -13.6% |
| Reserves | 13 | €288,446 | €220,024 | -€68,422 | -23.7% |
| Non-distributable reserves | 130/1 | €28,000 | €24,201 | -€3,799 | -13.6% |
| Legal reserve | 130 | €28,000 | €24,201 | -€3,799 | -13.6% |
| Tax-exempt reserves | 132 | €244,907 | €195,822 | -€49,085 | -20.0% |
| Distributable reserves | 133 | €15,539 | €0 | -€15,539 | -100% |
| Profit (loss) carried forward | 14 | - | -€32,080 | -€32,080 | |
| Provisions and deferred taxes | 16 | €81,636 | €79,689 | -€1,947 | -2.4% |
| Deferred taxes | 168 | €81,636 | €79,689 | -€1,947 | -2.4% |
| Amounts payable | 17/49 | €9,466 | €4,617 | -€4,849 | -51.2% |
| Amounts payable within one year | 42/48 | €9,466 | €4,617 | -€4,849 | -51.2% |
| Trade debts | 44 | €6,498 | €1,649 | -€4,849 | -74.6% |
| Suppliers | 440/4 | €6,498 | €1,649 | -€4,849 | -74.6% |
| Other amounts payable | 47/48 | €2,968 | €2,968 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,469 | €15,977 | -€24,493 | -60.5% |
| Other operating charges | 640/8 | €6,881 | €9,601 | +€2,720 | +39.5% |
| Gross operating margin | 9900 | €1,931 | -€26,649 | -€28,579 | |
| Operating profit (loss) | 9901 | -€45,420 | -€52,227 | -€6,807 | -15.0% |
| Financial income | 75/76B | €18 | €65 | +€47 | +268% |
| Recurring financial income | 75 | €18 | €65 | +€47 | +268% |
| Financial charges | 65/66B | €129 | €59 | -€70 | -54.1% |
| Recurring financial charges | 65 | €129 | €59 | -€70 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,531 | -€52,221 | -€6,690 | -14.7% |
| Transfer from deferred taxes | 780 | €1,287 | €1,947 | +€660 | +51.3% |
| Income taxes | 67/77 | €0 | €19 | +€19 | |
| Profit (loss) for the period | 9904 | -€44,244 | -€50,294 | -€6,050 | -13.7% |
| Transfer from tax-exempt reserves | 789 | €3,860 | €4,783 | +€923 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,384 | -€45,511 | -€5,127 | -12.7% |
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 14 October 2026 via checked.be.