SONTAG: 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.
What changed
SONTAG
NACE 68.121, Development of residential building projects
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€1.7m
2023 · €1.6m+€126,026
Equity
€33.5m
2023 · €32.0m+€1.5m
Cash
€3.5m
2023 · €4.8m-€1.3m
Balance sheet total
€61.1m
2023 · €54.8m+€6.3m
Largest movements
Assets
- Tangible fixed assets +€8.5m
up €8.5m (+29.8%), from €28.5m to €36.9m
of which Land and buildings: +€8.4m
- Receivables within one year -€2.7m
down €2.7m (-82.9%), from €3.2m to €547,188
of which Other amounts receivable: -€2.4m
- Current investments +€1.8m
up €1.8m (+7,975%), from €22,301 to €1.8m
- Cash -€1.3m
down €1.3m (-26.6%), from €4.8m to €3.5m
mainly Investment in fixed assets (net) (-€9.7m) and Current investments (-€1.8m)
Equity and liabilities
- Debts after one year +€4.5m
up €4.5m (+22.6%), from €20.1m to €24.6m
- Profit (loss) carried forward +€1.3m
up €1.3m (+4.9%), from €26.3m to €27.6m
Income statement
- Provisions -€545,900
new in 2024: -€545,900
- Gross operating margin +€452,841
up €452,841 (+10.1%), from €4.5m to €4.9m
- Other operating charges +€409,811
up €409,811 (+34.1%), from €1.2m to €1.6m
- Depreciation +€225,987
up €225,987 (+21.7%), from €1.0m to €1.3m
- Financial charges +€190,089
up €190,089 (+44.7%), from €425,455 to €615,544
From the 2023 result to the 2024 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.
Result 2023
€1.6m
Gross operating margin
+€452,841
Staff costs
+€6
Depreciation
-€225,987
Write-downs
-€63,667
Provisions
+€545,900
Other operating charges
-€409,811
Financial income
+€189,095
Financial charges
-€190,089
Taxes
-€172,262
Result 2024
€1.7m
raises the resultlowers the result
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€5.6m
Investment
-€11.5m
Financing
+€4.7m
Cash 2023
€4.8m
From operations (derived)
+€5.6m
Net result for the year
+€1.7m
Depreciation
+€1.3m
Receivables within one year
+€2.7m
Smaller working-capital items
-€18,490
Provisions
-€545,900
Trade debts
+€148,403
Tax, wage and social debts
+€81,841
Other debts
+€307,420
Investment (derived)
-€11.5m
Investment in fixed assets (net)
-€9.7m
Current investments
-€1.8m
Financing
+€4.7m
Debts after one year
+€4.5m
Current portion of long-term debt
+€339,138
Contributions, distributions and other
-€200,000
Cash 2024
€3.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,752,685 | €61,096,513 | +€6.3m | +11.6% |
| Fixed assets | 21/28 | €46,671,081 | €55,147,958 | +€8.5m | +18.2% |
| Tangible fixed assets | 22/27 | €28,468,616 | €36,945,493 | +€8.5m | +29.8% |
| Land and buildings | 22 | €28,056,124 | €36,476,760 | +€8.4m | +30.0% |
| Plant, machinery and equipment | 23 | €407,752 | €459,794 | +€52,042 | +12.8% |
| Furniture and vehicles | 24 | €4,740 | €8,939 | +€4,199 | +88.6% |
| Financial fixed assets | 28 | €18,202,465 | €18,202,465 | = | 0.0% |
| Current assets | 29/58 | €8,081,604 | €5,948,555 | -€2.1m | -26.4% |
| Amounts receivable within one year | 40/41 | €3,200,503 | €547,188 | -€2.7m | -82.9% |
| Trade receivables | 40 | €704,609 | €435,682 | -€268,927 | -38.2% |
| Other amounts receivable | 41 | €2,495,894 | €111,506 | -€2.4m | -95.5% |
| Current investments | 50/53 | €22,301 | €1,800,743 | +€1.8m | +7,975% |
| Cash at bank and in hand | 54/58 | €4,793,829 | €3,517,749 | -€1.3m | -26.6% |
| Deferred charges and accrued income | 490/1 | €64,971 | €82,875 | +€17,904 | +27.6% |
| Total equity and liabilities | 10/49 | €54,752,685 | €61,096,513 | +€6.3m | +11.6% |
| Equity | 10/15 | €32,037,510 | €33,515,457 | +€1.5m | +4.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €5,220,383 | €5,398,960 | +€178,577 | +3.4% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,120,383 | €4,148,960 | +€28,577 | +0.7% |
| Distributable reserves | 133 | €1,050,000 | €1,200,000 | +€150,000 | +14.3% |
| Profit (loss) carried forward | 14 | €26,317,127 | €27,616,497 | +€1.3m | +4.9% |
| Provisions and deferred taxes | 16 | €545,900 | - | -€545,900 | |
| Provisions for liabilities and charges | 160/5 | €545,900 | - | -€545,900 | |
| Major repairs and maintenance | 162 | €545,900 | - | -€545,900 | |
| Amounts payable | 17/49 | €22,169,275 | €27,581,056 | +€5.4m | +24.4% |
| Amounts payable after more than one year | 17 | €20,075,702 | €24,611,267 | +€4.5m | +22.6% |
| Financial debts | 170/4 | €20,075,702 | €24,611,267 | +€4.5m | +22.6% |
| Amounts payable within one year | 42/48 | €2,078,976 | €2,955,778 | +€876,802 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €1,721,828 | €2,060,966 | +€339,138 | +19.7% |
| Trade debts | 44 | €65,680 | €214,083 | +€148,403 | +226% |
| Suppliers | 440/4 | €65,680 | €214,083 | +€148,403 | +226% |
| Taxes, remuneration and social security | 45 | €88,690 | €170,531 | +€81,841 | +92.3% |
| Taxes | 450/3 | €86,690 | €166,031 | +€79,341 | +91.5% |
| Remuneration and social security | 454/9 | €2,000 | €4,500 | +€2,500 | +125% |
| Other amounts payable | 47/48 | €202,778 | €510,198 | +€307,420 | +152% |
| Accrued charges and deferred income | 492/3 | €14,597 | €14,011 | -€586 | -4.0% |
| Remuneration, social security and pensions | 62 | €6 | - | -€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,039,788 | €1,265,775 | +€225,987 | +21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€63,667 | - | +€63,667 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€545,900 | -€545,900 | |
| Other operating charges | 640/8 | €1,202,510 | €1,612,321 | +€409,811 | +34.1% |
| Gross operating margin | 9900 | €4,483,930 | €4,936,771 | +€452,841 | +10.1% |
| Operating profit (loss) | 9901 | €2,305,293 | €2,604,575 | +€299,282 | +13.0% |
| Financial income | 75/76B | €245,554 | €434,649 | +€189,095 | +77.0% |
| Recurring financial income | 75 | €245,554 | €434,649 | +€189,095 | +77.0% |
| Financial charges | 65/66B | €425,455 | €615,544 | +€190,089 | +44.7% |
| Recurring financial charges | 65 | €425,455 | €615,544 | +€190,089 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €2,125,392 | €2,423,680 | +€298,288 | +14.0% |
| Income taxes | 67/77 | €573,471 | €745,733 | +€172,262 | +30.0% |
| Profit (loss) for the period | 9904 | €1,551,921 | €1,677,947 | +€126,026 | +8.1% |
| Transfer from tax-exempt reserves | 789 | €13,523 | €560,823 | +€547,300 | +4,047% |
| Transfer to tax-exempt reserves | 689 | €673,600 | €589,400 | -€84,200 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €891,844 | €1,649,370 | +€757,526 | +84.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.