SOVEK: what changed
What changed
SOVEK
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€299,392
2024 · €1.8m-€1.5m
Equity
€27.5m
2024 · €37.4m-€9.9m
Cash
€2.3m
2024 · €1.6m+€625,726
Balance sheet total
€32.6m
2024 · €43.3m-€10.6m
Largest movements
Assets
- Financial fixed assets -€9.9m
down €9.9m (-56.9%), from €17.4m to €7.5m
of which Affiliated companies: -€9.9m
- Current investments -€4.8m
down €4.8m (-25.4%), from €19.1m to €14.2m
- Receivables after one year +€3.7m
up €3.7m (+225,804%), from €1,660 to €3.8m
- Cash +€625,726
up €625,726 (+38.0%), from €1.6m to €2.3m
mainly Investment in fixed assets (net) (+€9.8m) and Current investments (+€4.8m)
Equity and liabilities
- Profit (loss) carried forward -€6.6m
down €6.6m (-26.5%), from €24.9m to €18.3m
- Contributions -€3.3m
down €3.3m (-27.7%), from €11.9m to €8.6m
- Debts after one year -€486,194
down €486,194 (-9.7%), from €5.0m to €4.5m
of which Other amounts payable: -€500,000
Income statement
- Financial income -€1.6m
down €1.6m (-66.7%), from €2.3m to €778,938
of which Financial income: -€1.4m
- Taxes -€103,223
down €103,223 (-50.0%), from €206,258 to €103,034
- Services and other goods +€76,947
up €76,947 (+21.5%), from €357,207 to €434,153
- Financial charges -€54,370
down €54,370 (-13.5%), from €402,786 to €348,416
- Staff costs +€31,978
up €31,978 (+12.5%), from €254,803 to €286,781
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.8m
Turnover
-€9,011
Other operating income
+€23,841
Services and other goods
-€76,947
Staff costs
-€31,978
Depreciation
-€11,787
Write-downs
-€9,465
Other operating charges
-€2,695
Other operating items
+€40,832
Financial income
-€1.6m
Financial charges
+€54,370
Taxes
+€103,223
Result 2025
€299,392
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3.3m
Investment
+€14.7m
Financing
-€10.7m
Cash 2024
€1.6m
From operations (derived)
-€3.3m
Net result for the year
+€299,392
Depreciation
+€159,333
Receivables after one year
-€3.7m
Receivables within one year
+€49,928
Deferred charges and accrued income
+€139,284
Smaller working-capital items
-€33,568
Other debts
-€175,949
Investment (derived)
+€14.7m
Investment in fixed assets (net)
+€9.8m
Current investments
+€4.8m
Financing
-€10.7m
Debts after one year
-€486,194
Current portion of long-term debt
+€6,210
Contributions, distributions and other
-€10.2m
Cash 2025
€2.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,257,542 | €32,628,887 | -€10.6m | -24.6% |
| Fixed assets | 21/28 | €21,044,909 | €11,077,833 | -€10.0m | -47.4% |
| Tangible fixed assets | 22/27 | €3,600,224 | €3,552,964 | -€47,260 | -1.3% |
| Land and buildings | 22 | €3,055,593 | €2,988,361 | -€67,233 | -2.2% |
| Plant, machinery and equipment | 23 | €23,983 | €16,083 | -€7,900 | -32.9% |
| Furniture and vehicles | 24 | €152,648 | €172,580 | +€19,932 | +13.1% |
| Leasing and similar rights | 25 | €6,649 | €25,987 | +€19,338 | +291% |
| Other tangible fixed assets | 26 | €361,350 | €349,953 | -€11,397 | -3.2% |
| Financial fixed assets | 28 | €17,444,686 | €7,524,869 | -€9.9m | -56.9% |
| Affiliated companies | 280/1 | €17,394,686 | €7,474,869 | -€9.9m | -57.0% |
| Participating interests | 280 | €12,639,686 | €3,398,209 | -€9.2m | -73.1% |
| Amounts receivable | 281 | €4,755,000 | €4,076,660 | -€678,340 | -14.3% |
| Companies linked by participating interests | 282/3 | €50,000 | €50,000 | = | 0.0% |
| Participating interests | 282 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €22,212,632 | €21,551,054 | -€661,578 | -3.0% |
| Amounts receivable after more than one year | 29 | €1,660 | €3,750,000 | +€3.7m | +225,804% |
| Other amounts receivable | 291 | €1,660 | €3,750,000 | +€3.7m | +225,804% |
| Amounts receivable within one year | 40/41 | €1,277,239 | €1,227,311 | -€49,928 | -3.9% |
| Trade receivables | 40 | €71,395 | €100,860 | +€29,465 | +41.3% |
| Other amounts receivable | 41 | €1,205,844 | €1,126,451 | -€79,393 | -6.6% |
| Current investments | 50/53 | €19,096,261 | €14,249,829 | -€4.8m | -25.4% |
| Other investments | 51/53 | €19,096,261 | €14,249,829 | -€4.8m | -25.4% |
| Cash at bank and in hand | 54/58 | €1,646,893 | €2,272,619 | +€625,726 | +38.0% |
| Deferred charges and accrued income | 490/1 | €190,580 | €51,295 | -€139,284 | -73.1% |
| Total equity and liabilities | 10/49 | €43,257,542 | €32,628,887 | -€10.6m | -24.6% |
| Equity | 10/15 | €37,440,355 | €27,501,202 | -€9.9m | -26.5% |
| Contributions | 10/11 | €11,853,326 | €8,568,213 | -€3.3m | -27.7% |
| Revaluation surpluses | 12 | €514,965 | €514,965 | = | 0.0% |
| Reserves | 13 | €150,576 | €102,208 | -€48,368 | -32.1% |
| Tax-exempt reserves | 132 | €51,802 | €30,809 | -€20,993 | -40.5% |
| Distributable reserves | 133 | €98,774 | €71,399 | -€27,375 | -27.7% |
| Profit (loss) carried forward | 14 | €24,921,488 | €18,315,816 | -€6.6m | -26.5% |
| Provisions and deferred taxes | 16 | €72,415 | €71,798 | -€617 | -0.9% |
| Provisions for liabilities and charges | 160/5 | €55,148 | €55,148 | = | 0.0% |
| Pensions and similar obligations | 160 | €55,148 | €55,148 | = | 0.0% |
| Deferred taxes | 168 | €17,267 | €16,650 | -€617 | -3.6% |
| Amounts payable | 17/49 | €5,744,772 | €5,055,887 | -€688,885 | -12.0% |
| Amounts payable after more than one year | 17 | €5,000,000 | €4,513,806 | -€486,194 | -9.7% |
| Financial debts | 170/4 | - | €13,806 | +€13,806 | |
| Leasing and similar obligations | 172 | - | €13,806 | +€13,806 | |
| Other amounts payable | 178/9 | €5,000,000 | €4,500,000 | -€500,000 | -10.0% |
| Amounts payable within one year | 42/48 | €743,270 | €541,609 | -€201,662 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €417 | €6,627 | +€6,210 | +1,489% |
| Trade debts | 44 | €64,539 | €49,226 | -€15,314 | -23.7% |
| Suppliers | 440/4 | €64,539 | €49,226 | -€15,314 | -23.7% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €192,029 | €173,421 | -€18,608 | -9.7% |
| Taxes | 450/3 | €165,912 | €141,536 | -€24,376 | -14.7% |
| Remuneration and social security | 454/9 | €26,117 | €31,885 | +€5,767 | +22.1% |
| Other amounts payable | 47/48 | €486,285 | €310,336 | -€175,949 | -36.2% |
| Accrued charges and deferred income | 492/3 | €1,502 | €473 | -€1,029 | -68.5% |
| Operating income | 70/76A | €837,075 | €893,955 | +€56,879 | +6.8% |
| Turnover | 70 | €791,717 | €782,705 | -€9,011 | -1.1% |
| Other operating income | 74 | €45,359 | €69,200 | +€23,841 | +52.6% |
| Non-recurring operating income | 76A | - | €42,049 | +€42,049 | |
| Operating charges | 60/66A | €788,580 | €922,668 | +€134,088 | +17.0% |
| Services and other goods | 61 | €357,207 | €434,153 | +€76,947 | +21.5% |
| Remuneration, social security and pensions | 62 | €254,803 | €286,781 | +€31,978 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,546 | €159,333 | +€11,787 | +8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,465 | +€9,465 | |
| Other operating charges | 640/8 | €29,024 | €31,719 | +€2,695 | +9.3% |
| Non-recurring operating charges | 66A | - | €1,217 | +€1,217 | |
| Operating profit (loss) | 9901 | €48,496 | -€28,713 | -€77,209 | |
| Financial income | 75/76B | €2,337,198 | €778,938 | -€1.6m | -66.7% |
| Recurring financial income | 75 | €2,217,099 | €778,938 | -€1.4m | -64.9% |
| Income from financial fixed assets | 750 | €1,474,031 | €378,225 | -€1.1m | -74.3% |
| Other financial income | 752/9 | €743,067 | €400,713 | -€342,355 | -46.1% |
| Non-recurring financial income | 76B | €120,099 | - | -€120,099 | |
| Financial charges | 65/66B | €402,786 | €348,416 | -€54,370 | -13.5% |
| Recurring financial charges | 65 | €402,786 | €348,416 | -€54,370 | -13.5% |
| Debt charges | 650 | €421,017 | €344,253 | -€76,764 | -18.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€21,247 | - | +€21,247 | |
| Other financial charges | 652/9 | €3,015 | €4,163 | +€1,147 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €1,982,908 | €401,809 | -€1.6m | -79.7% |
| Transfer from deferred taxes | 780 | €617 | €617 | = | 0.0% |
| Income taxes | 67/77 | €206,258 | €103,034 | -€103,223 | -50.0% |
| Taxes | 670/3 | €206,258 | €103,034 | -€103,223 | -50.0% |
| Profit (loss) for the period | 9904 | €1,777,267 | €299,392 | -€1.5m | -83.2% |
| Transfer from tax-exempt reserves | 789 | €1,850 | €1,850 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,779,117 | €301,242 | -€1.5m | -83.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.