Sorgeloos & Demeester: 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.
Sorgeloos & Demeester
Largest movements
- Cash +€45,798
up €45,798 (+89.4%), from €51,206 to €97,003
mainly Other debts (+€119,872) and Net result for the year (+€100,804)
- Current investments +€20,000
up €20,000 (+20.0%), from €100,000 to €120,000
- Receivables within one year +€18,469
up €18,469 (+68.7%), from €26,881 to €45,351
of which Trade receivables: +€18,469
- Tangible fixed assets -€11,115
down €11,115 (-15.1%), from €73,809 to €62,693
of which Furniture and vehicles: -€8,420
- Deferred charges and accrued income -€3,458
down €3,458 (-56.2%), from €6,151 to €2,694
- Other debts +€119,872
up €119,872 (+101%), from €118,485 to €238,357
- Reserves -€53,196
down €53,196 (-98.5%), from €54,015 to €820
of which Distributable reserves: -€53,196
- Debts after one year -€13,559
down €13,559 (-31.0%), from €43,690 to €30,131
- Tax, wage and social debts +€13,505
up €13,505 (+143%), from €9,443 to €22,948
of which Taxes: +€7,165
- Gross operating margin +€68,647
up €68,647 (+88.5%), from €77,551 to €146,198
- Taxes +€15,331
up €15,331 (+109%), from €14,066 to €29,397
- Financial income -€1,839
down €1,839 (-69.4%), from €2,650 to €812
- Depreciation -€1,778
down €1,778 (-12.3%), from €14,484 to €12,706
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 | €258,207 | €327,901 | +€69,694 | +27.0% |
| Fixed assets | 21/28 | €73,969 | €62,853 | -€11,115 | -15.0% |
| Tangible fixed assets | 22/27 | €73,809 | €62,693 | -€11,115 | -15.1% |
| Land and buildings | 22 | €27,761 | €26,954 | -€808 | -2.9% |
| Furniture and vehicles | 24 | €39,993 | €31,573 | -€8,420 | -21.1% |
| Other tangible fixed assets | 26 | €6,054 | €4,166 | -€1,888 | -31.2% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €184,239 | €265,048 | +€80,809 | +43.9% |
| Amounts receivable within one year | 40/41 | €26,881 | €45,351 | +€18,469 | +68.7% |
| Trade receivables | 40 | €26,881 | €45,351 | +€18,469 | +68.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €100,000 | €120,000 | +€20,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €51,206 | €97,003 | +€45,798 | +89.4% |
| Deferred charges and accrued income | 490/1 | €6,151 | €2,694 | -€3,458 | -56.2% |
| Total equity and liabilities | 10/49 | €258,207 | €327,901 | +€69,694 | +27.0% |
| Equity | 10/15 | €72,615 | €19,420 | -€53,196 | -73.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,015 | €820 | -€53,196 | -98.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €54,015 | €820 | -€53,196 | -98.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €185,592 | €308,482 | +€122,890 | +66.2% |
| Amounts payable after more than one year | 17 | €43,690 | €30,131 | -€13,559 | -31.0% |
| Financial debts | 170/4 | €43,690 | €30,131 | -€13,559 | -31.0% |
| Amounts payable within one year | 42/48 | €141,106 | €278,268 | +€137,161 | +97.2% |
| Current portion of amounts payable after more than one year | 42 | €13,005 | €13,559 | +€554 | +4.3% |
| Financial debts | 43 | €3 | €1,510 | +€1,507 | +50,416% |
| Other loans | 439 | €3 | €1,510 | +€1,507 | +50,416% |
| Trade debts | 44 | €171 | €1,894 | +€1,723 | +1,010% |
| Suppliers | 440/4 | €171 | €1,894 | +€1,723 | +1,010% |
| Taxes, remuneration and social security | 45 | €9,443 | €22,948 | +€13,505 | +143% |
| Taxes | 450/3 | €9,443 | €16,608 | +€7,165 | +75.9% |
| Remuneration and social security | 454/9 | - | €6,340 | +€6,340 | |
| Other amounts payable | 47/48 | €118,485 | €238,357 | +€119,872 | +101% |
| Accrued charges and deferred income | 492/3 | €795 | €82 | -€713 | -89.6% |
| Non-recurring operating income | 76A | - | €8,145 | +€8,145 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,484 | €12,706 | -€1,778 | -12.3% |
| Other operating charges | 640/8 | €2,409 | €1,894 | -€515 | -21.4% |
| Gross operating margin | 9900 | €77,551 | €146,198 | +€68,647 | +88.5% |
| Operating profit (loss) | 9901 | €60,659 | €131,599 | +€70,940 | +117% |
| Financial income | 75/76B | €2,650 | €812 | -€1,839 | -69.4% |
| Recurring financial income | 75 | €2,650 | €812 | -€1,839 | -69.4% |
| Financial charges | 65/66B | €2,800 | €2,210 | -€590 | -21.1% |
| Recurring financial charges | 65 | €2,800 | €2,210 | -€590 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €60,509 | €130,201 | +€69,692 | +115% |
| Income taxes | 67/77 | €14,066 | €29,397 | +€15,331 | +109% |
| Profit (loss) for the period | 9904 | €46,443 | €100,804 | +€54,361 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €46,443 | €100,804 | +€54,361 | +117% |
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 27 October 2026 via checked.be.