b.sunrise: 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.
b.sunrise
Largest movements
- Tangible fixed assets -€91,614
down €91,614 (-30.0%), from €305,880 to €214,266
of which Land and buildings: -€108,956
- Cash +€62,337
up €62,337 (+5,000%), from €1,247 to €63,583
mainly Other debts (+€92,869) and Net result for the year (+€82,209)
- Receivables within one year -€40,068
down €40,068 (-79.6%), from €50,319 to €10,251
of which Trade receivables: -€28,017
- Current investments +€19,905
new in 2025: €19,905
- Deferred charges and accrued income +€6,676
up €6,676 (+962%), from €694 to €7,370
- Reserves -€109,919
down €109,919 (-51.9%), from €211,860 to €101,941
of which Distributable reserves: -€109,919
- Other debts +€92,869
up €92,869, from €0 to €92,869
- Trade debts -€19,647
down €19,647 (-77.9%), from €25,208 to €5,561
- Debts after one year -€15,072
down €15,072 (-21.9%), from €68,951 to €53,880
- Tax, wage and social debts +€13,169
up €13,169 (+106%), from €12,443 to €25,612
of which Taxes: +€13,373
- Gross operating margin +€58,857
up €58,857 (+103%), from €57,037 to €115,893
- Taxes +€15,360
up €15,360 (+25,833%), from €59 to €15,420
- Depreciation -€14,331
down €14,331 (-51.8%), from €27,642 to €13,311
- Financial income +€9,077
up €9,077 (+2,358%), from €385 to €9,462
- Staff costs -€6,164
down €6,164 (-50.6%), from €12,175 to €6,011
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 | €358,140 | €315,375 | -€42,764 | -11.9% |
| Fixed assets | 21/28 | €305,880 | €214,266 | -€91,614 | -30.0% |
| Tangible fixed assets | 22/27 | €305,880 | €214,266 | -€91,614 | -30.0% |
| Land and buildings | 22 | €292,675 | €183,719 | -€108,956 | -37.2% |
| Plant, machinery and equipment | 23 | €1,162 | €0 | -€1,162 | -100% |
| Furniture and vehicles | 24 | €12,044 | €30,547 | +€18,503 | +154% |
| Current assets | 29/58 | €52,259 | €101,109 | +€48,849 | +93.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €50,319 | €10,251 | -€40,068 | -79.6% |
| Trade receivables | 40 | €36,229 | €8,212 | -€28,017 | -77.3% |
| Other amounts receivable | 41 | €14,090 | €2,038 | -€12,051 | -85.5% |
| Current investments | 50/53 | - | €19,905 | +€19,905 | |
| Cash at bank and in hand | 54/58 | €1,247 | €63,583 | +€62,337 | +5,000% |
| Deferred charges and accrued income | 490/1 | €694 | €7,370 | +€6,676 | +962% |
| Total equity and liabilities | 10/49 | €358,140 | €315,375 | -€42,764 | -11.9% |
| Equity | 10/15 | €235,933 | €120,541 | -€115,391 | -48.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €211,860 | €101,941 | -€109,919 | -51.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €210,000 | €100,081 | -€109,919 | -52.3% |
| Profit (loss) carried forward | 14 | €5,473 | €0 | -€5,473 | -100% |
| Amounts payable | 17/49 | €122,207 | €194,834 | +€72,627 | +59.4% |
| Amounts payable after more than one year | 17 | €68,951 | €53,880 | -€15,072 | -21.9% |
| Financial debts | 170/4 | €68,951 | €53,880 | -€15,072 | -21.9% |
| Amounts payable within one year | 42/48 | €52,606 | €140,565 | +€87,958 | +167% |
| Current portion of amounts payable after more than one year | 42 | €14,955 | €15,072 | +€116 | +0.8% |
| Financial debts | 43 | - | €1,451 | +€1,451 | |
| Credit institutions | 430/8 | - | €1,451 | +€1,451 | |
| Trade debts | 44 | €25,208 | €5,561 | -€19,647 | -77.9% |
| Suppliers | 440/4 | €25,208 | €5,561 | -€19,647 | -77.9% |
| Taxes, remuneration and social security | 45 | €12,443 | €25,612 | +€13,169 | +106% |
| Taxes | 450/3 | €10,239 | €23,612 | +€13,373 | +131% |
| Remuneration and social security | 454/9 | €2,204 | €2,000 | -€204 | -9.3% |
| Other amounts payable | 47/48 | €0 | €92,869 | +€92,869 | |
| Accrued charges and deferred income | 492/3 | €649 | €390 | -€260 | -40.0% |
| Non-recurring operating income | 76A | - | €85,616 | +€85,616 | |
| Remuneration, social security and pensions | 62 | €12,175 | €6,011 | -€6,164 | -50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,642 | €13,311 | -€14,331 | -51.8% |
| Other operating charges | 640/8 | €2,490 | €2,114 | -€377 | -15.1% |
| Non-recurring operating charges | 66A | - | €2,279 | +€2,279 | |
| Gross operating margin | 9900 | €57,037 | €115,893 | +€58,857 | +103% |
| Operating profit (loss) | 9901 | €14,730 | €92,179 | +€77,449 | +526% |
| Financial income | 75/76B | €385 | €9,462 | +€9,077 | +2,358% |
| Recurring financial income | 75 | €385 | €9,462 | +€9,077 | +2,358% |
| Financial charges | 65/66B | €3,175 | €4,012 | +€837 | +26.4% |
| Recurring financial charges | 65 | €3,175 | €4,012 | +€837 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €11,939 | €97,628 | +€85,689 | +718% |
| Income taxes | 67/77 | €59 | €15,420 | +€15,360 | +25,833% |
| Profit (loss) for the period | 9904 | €11,880 | €82,209 | +€70,329 | +592% |
| Profit (loss) for the period to be appropriated | 9905 | €11,880 | €82,209 | +€70,329 | +592% |
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 21 October 2026 via checked.be.