SOGUSTA: 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.
SOGUSTA
Largest movements
- Receivables within one year +€10,231
up €10,231 (+50.0%), from €20,472 to €30,702
of which Trade receivables: +€11,588
- Cash -€7,842
down €7,842 (-23.9%), from €32,784 to €24,942
mainly Contributions, distributions and other (-€76,597) and Receivables within one year (-€10,231)
- Tangible fixed assets +€4,576
up €4,576 (+13.4%), from €34,180 to €38,756
of which Other tangible fixed assets: +€7,956
- Current investments -€1,868
down €1,868 (-8.9%), from €20,973 to €19,105
- Other debts +€44,000
new in 2025: €44,000
- Reserves -€31,813
down €31,813 (-36.9%), from €86,163 to €54,350
- Tax, wage and social debts -€6,715
down €6,715 (-34.8%), from €19,285 to €12,570
- Gross operating margin +€23,913
up €23,913 (+56.4%), from €42,435 to €66,348
- Financial income -€14,288
down €14,288 (-96.9%), from €14,752 to €464
- Taxes +€5,854
up €5,854 (+80.7%), from €7,255 to €13,109
- Depreciation +€765
up €765 (+24.0%), from €3,184 to €3,949
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 | €108,490 | €113,996 | +€5,506 | +5.1% |
| Fixed assets | 21/28 | €34,180 | €38,756 | +€4,576 | +13.4% |
| Tangible fixed assets | 22/27 | €34,180 | €38,756 | +€4,576 | +13.4% |
| Plant, machinery and equipment | 23 | €32,009 | €29,444 | -€2,566 | -8.0% |
| Furniture and vehicles | 24 | €2,170 | €1,356 | -€814 | -37.5% |
| Other tangible fixed assets | 26 | - | €7,956 | +€7,956 | |
| Current assets | 29/58 | €74,311 | €75,240 | +€930 | +1.3% |
| Amounts receivable within one year | 40/41 | €20,472 | €30,702 | +€10,231 | +50.0% |
| Trade receivables | 40 | €15,604 | €27,192 | +€11,588 | +74.3% |
| Other amounts receivable | 41 | €4,868 | €3,511 | -€1,357 | -27.9% |
| Current investments | 50/53 | €20,973 | €19,105 | -€1,868 | -8.9% |
| Cash at bank and in hand | 54/58 | €32,784 | €24,942 | -€7,842 | -23.9% |
| Deferred charges and accrued income | 490/1 | €82 | €491 | +€409 | +499% |
| Total equity and liabilities | 10/49 | €108,490 | €113,996 | +€5,506 | +5.1% |
| Equity | 10/15 | €87,163 | €55,350 | -€31,813 | -36.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €86,163 | €54,350 | -€31,813 | -36.9% |
| Distributable reserves | 133 | €86,163 | €54,350 | -€31,813 | -36.9% |
| Amounts payable | 17/49 | €21,328 | €58,646 | +€37,318 | +175% |
| Amounts payable within one year | 42/48 | €21,328 | €58,646 | +€37,318 | +175% |
| Trade debts | 44 | €2,043 | €2,077 | +€34 | +1.6% |
| Suppliers | 440/4 | €2,043 | €2,077 | +€34 | +1.6% |
| Taxes, remuneration and social security | 45 | €19,285 | €12,570 | -€6,715 | -34.8% |
| Taxes | 450/3 | €19,285 | €12,570 | -€6,715 | -34.8% |
| Other amounts payable | 47/48 | - | €44,000 | +€44,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,184 | €3,949 | +€765 | +24.0% |
| Other operating charges | 640/8 | €1,024 | €843 | -€181 | -17.7% |
| Non-recurring operating charges | 66A | €3,384 | - | -€3,384 | |
| Gross operating margin | 9900 | €42,435 | €66,348 | +€23,913 | +56.4% |
| Operating profit (loss) | 9901 | €34,844 | €61,556 | +€26,713 | +76.7% |
| Financial income | 75/76B | €14,752 | €464 | -€14,288 | -96.9% |
| Recurring financial income | 75 | €14,752 | €464 | -€14,288 | -96.9% |
| Financial charges | 65/66B | €3,569 | €4,127 | +€557 | +15.6% |
| Recurring financial charges | 65 | €3,569 | €4,127 | +€557 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €46,026 | €57,893 | +€11,867 | +25.8% |
| Income taxes | 67/77 | €7,255 | €13,109 | +€5,854 | +80.7% |
| Profit (loss) for the period | 9904 | €38,771 | €44,784 | +€6,013 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,771 | €44,784 | +€6,013 | +15.5% |
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 17 October 2026 via checked.be.