SOVINCO: 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
SOVINCO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€43,862
2024 · €132,551-€88,689
Equity
€15.8m
2024 · €15.8m+€43,862
Cash
€1.8m
2024 · €884,572+€955,091
Balance sheet total
€17.8m
2024 · €18.0m-€189,422
Largest movements
Assets
- Cash +€955,091
up €955,091 (+108%), from €884,572 to €1.8m
mainly Current investments (+€900,000) and Depreciation (+€277,439)
- Current investments -€900,000
down €900,000 (-100%), from €900,000 to €0
- Tangible fixed assets -€265,326
down €265,326 (-3.3%), from €8.0m to €7.7m
of which Land and buildings: -€233,191
Equity and liabilities
- Other debts -€227,714
down €227,714 (-77.1%), from €295,178 to €67,463
Income statement
- Taxes +€120,001
up €120,001, from -€47,700 to €72,301
- Gross operating margin -€90,504
down €90,504 (-16.9%), from €535,400 to €444,896
- Staff costs -€22,797
down €22,797 (-28.2%), from €80,891 to €58,094
- Depreciation -€19,063
down €19,063 (-6.4%), from €296,502 to €277,439
- Other operating charges -€12,779
down €12,779 (-20.4%), from €62,782 to €50,004
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.
Result 2024
€132,551
Gross operating margin
-€90,504
Staff costs
+€22,797
Depreciation
+€19,063
Other operating charges
+€12,779
Other operating items
+€80,592
Financial income
-€12,428
Financial charges
-€987
Taxes
-€120,001
Result 2025
€43,862
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€63,974
Investment
+€890,616
Financing
+€500
Cash 2024
€884,572
From operations (derived)
+€63,974
Net result for the year
+€43,862
Depreciation
+€277,439
Receivables within one year
-€9,154
Deferred charges and accrued income
-€14,389
Provisions
-€50,974
Trade debts
+€28,842
Tax, wage and social debts
+€15,647
Other debts
-€227,714
Accrued charges and deferred income
+€415
Investment (derived)
+€890,616
Investment in fixed assets (net)
-€9,384
Current investments
+€900,000
Financing
+€500
Short-term financial debts
+€500
Cash 2025
€1.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,002,624 | €17,813,202 | -€189,422 | -1.1% |
| Fixed assets | 21/28 | €15,490,856 | €15,222,801 | -€268,055 | -1.7% |
| Tangible fixed assets | 22/27 | €7,989,747 | €7,724,421 | -€265,326 | -3.3% |
| Land and buildings | 22 | €7,939,407 | €7,706,216 | -€233,191 | -2.9% |
| Plant, machinery and equipment | 23 | €15,289 | €8,868 | -€6,420 | -42.0% |
| Furniture and vehicles | 24 | €35,052 | €9,337 | -€25,715 | -73.4% |
| Financial fixed assets | 28 | €7,501,109 | €7,498,380 | -€2,729 | 0.0% |
| Current assets | 29/58 | €2,511,768 | €2,590,401 | +€78,633 | +3.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €722,555 | €731,709 | +€9,154 | +1.3% |
| Trade receivables | 40 | €6,530 | €4,603 | -€1,927 | -29.5% |
| Other amounts receivable | 41 | €716,025 | €727,106 | +€11,081 | +1.5% |
| Current investments | 50/53 | €900,000 | €0 | -€900,000 | -100% |
| Cash at bank and in hand | 54/58 | €884,572 | €1,839,663 | +€955,091 | +108% |
| Deferred charges and accrued income | 490/1 | €4,641 | €19,030 | +€14,389 | +310% |
| Total equity and liabilities | 10/49 | €18,002,624 | €17,813,202 | -€189,422 | -1.1% |
| Equity | 10/15 | €15,762,752 | €15,806,613 | +€43,862 | +0.3% |
| Contributions | 10/11 | €2,748,000 | €2,748,000 | = | 0.0% |
| Capital | 10 | €2,748,000 | €2,748,000 | = | 0.0% |
| Issued capital | 100 | €2,748,000 | €2,748,000 | = | 0.0% |
| Reserves | 13 | €13,014,752 | €13,058,613 | +€43,862 | +0.3% |
| Non-distributable reserves | 130/1 | €690,903 | €690,903 | = | 0.0% |
| Legal reserve | 130 | €274,800 | €274,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €416,103 | €416,103 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,266,801 | €3,113,879 | -€152,922 | -4.7% |
| Distributable reserves | 133 | €9,057,048 | €9,253,831 | +€196,783 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,879,401 | €1,828,427 | -€50,974 | -2.7% |
| Deferred taxes | 168 | €1,879,401 | €1,828,427 | -€50,974 | -2.7% |
| Amounts payable | 17/49 | €360,471 | €178,161 | -€182,310 | -50.6% |
| Amounts payable within one year | 42/48 | €360,471 | €177,746 | -€182,725 | -50.7% |
| Financial debts | 43 | - | €500 | +€500 | |
| Credit institutions | 430/8 | - | €500 | +€500 | |
| Trade debts | 44 | €17,150 | €45,992 | +€28,842 | +168% |
| Suppliers | 440/4 | €17,150 | €45,992 | +€28,842 | +168% |
| Taxes, remuneration and social security | 45 | €48,144 | €63,791 | +€15,647 | +32.5% |
| Taxes | 450/3 | €38,700 | €53,308 | +€14,608 | +37.7% |
| Remuneration and social security | 454/9 | €9,443 | €10,482 | +€1,039 | +11.0% |
| Other amounts payable | 47/48 | €295,178 | €67,463 | -€227,714 | -77.1% |
| Accrued charges and deferred income | 492/3 | - | €415 | +€415 | |
| Non-recurring operating income | 76A | €79,841 | €0 | -€79,841 | -100% |
| Remuneration, social security and pensions | 62 | €80,891 | €58,094 | -€22,797 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €296,502 | €277,439 | -€19,063 | -6.4% |
| Other operating charges | 640/8 | €62,782 | €50,004 | -€12,779 | -20.4% |
| Non-recurring operating charges | 66A | €83,321 | €2,729 | -€80,592 | -96.7% |
| Gross operating margin | 9900 | €535,400 | €444,896 | -€90,504 | -16.9% |
| Operating profit (loss) | 9901 | €11,903 | €56,630 | +€44,727 | +376% |
| Financial income | 75/76B | €23,459 | €11,030 | -€12,428 | -53.0% |
| Recurring financial income | 75 | €23,459 | €11,030 | -€12,428 | -53.0% |
| Financial charges | 65/66B | €1,485 | €2,471 | +€987 | +66.5% |
| Recurring financial charges | 65 | €1,485 | €2,471 | +€987 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | €33,877 | €65,189 | +€31,312 | +92.4% |
| Transfer from deferred taxes | 780 | €50,974 | €50,974 | = | 0.0% |
| Income taxes | 67/77 | -€47,700 | €72,301 | +€120,001 | |
| Profit (loss) for the period | 9904 | €132,551 | €43,862 | -€88,689 | -66.9% |
| Transfer from tax-exempt reserves | 789 | €152,922 | €152,922 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €285,473 | €196,783 | -€88,689 | -31.1% |
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 18 October 2026 via checked.be.