C-SUN: what changed
Two fiscal 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.
C-SUN
Largest movements
- Tangible fixed assets +€37,468
up €37,468 (+152.5%), from €24,572 to €62,040
of which Plant, machinery and equipment: +€45,100
- Cash -€23,629
down €23,629 (-24.3%), from €97,364 to €73,735
mainly Investment in fixed assets (net) (-€58,956) and Other debts (-€10,234)
- Stocks and contracts +€2,459
up €2,459 (+974.8%), from €252 to €2,712
- Debts after one year +€16,516
new in 2025: €16,516
- Other debts -€10,234
down €10,234 (-12.5%), from €82,120 to €71,887
- Tax, wage and social debts -€9,971
down €9,971 (-63.0%), from €15,821 to €5,849
of which Taxes: -€10,034
- Trade debts +€7,711
up €7,711 (+111.6%), from €6,910 to €14,621
- Current portion of long-term debt +€6,894
new in 2025: €6,894
- Gross operating margin -€12,352
down €12,352 (-20.1%), from €61,364 to €49,012
- Depreciation +€7,329
up €7,329 (+51.8%), from €14,159 to €21,488
- Financial charges -€6,831
down €6,831 (-52.6%), from €12,977 to €6,146
- Taxes -€4,437
down €4,437 (-48.3%), from €9,194 to €4,757
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.
Cash bridge derived
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 | €198,900 | €217,340 | +€18,440 | +9.3% |
| Fixed assets | 21/28 | €24,572 | €62,040 | +€37,468 | +152.5% |
| Tangible fixed assets | 22/27 | €24,572 | €62,040 | +€37,468 | +152.5% |
| Land and buildings | 22 | €11,625 | €8,525 | -€3,100 | -26.7% |
| Plant, machinery and equipment | 23 | €3,248 | €48,349 | +€45,100 | +1388.4% |
| Furniture and vehicles | 24 | €2,025 | €635 | -€1,390 | -68.7% |
| Other tangible fixed assets | 26 | €7,673 | €4,531 | -€3,142 | -40.9% |
| Current assets | 29/58 | €174,328 | €155,301 | -€19,028 | -10.9% |
| Stocks and contracts in progress | 3 | €252 | €2,712 | +€2,459 | +974.8% |
| Stocks | 30/36 | €252 | €2,712 | +€2,459 | +974.8% |
| Amounts receivable within one year | 40/41 | €73,745 | €74,524 | +€779 | +1.1% |
| Trade receivables | 40 | €0 | €2,732 | +€2,732 | +2276458.3% |
| Other amounts receivable | 41 | €73,744 | €71,792 | -€1,952 | -2.6% |
| Cash at bank and in hand | 54/58 | €97,364 | €73,735 | -€23,629 | -24.3% |
| Deferred charges and accrued income | 490/1 | €2,968 | €4,330 | +€1,362 | +45.9% |
| Total equity and liabilities | 10/49 | €198,900 | €217,340 | +€18,440 | +9.3% |
| Equity | 10/15 | €91,285 | €97,509 | +€6,224 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,685 | €78,909 | +€6,224 | +8.6% |
| Tax-exempt reserves | 132 | €22,965 | €22,965 | = | 0.0% |
| Distributable reserves | 133 | €49,720 | €55,944 | +€6,224 | +12.5% |
| Amounts payable | 17/49 | €107,615 | €119,831 | +€12,216 | +11.4% |
| Amounts payable after more than one year | 17 | - | €16,516 | +€16,516 | |
| Financial debts | 170/4 | - | €16,516 | +€16,516 | |
| Amounts payable within one year | 42/48 | €104,851 | €99,251 | -€5,600 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | - | €6,894 | +€6,894 | |
| Trade debts | 44 | €6,910 | €14,621 | +€7,711 | +111.6% |
| Suppliers | 440/4 | €6,910 | €14,621 | +€7,711 | +111.6% |
| Taxes, remuneration and social security | 45 | €15,821 | €5,849 | -€9,971 | -63.0% |
| Taxes | 450/3 | €14,791 | €4,757 | -€10,034 | -67.8% |
| Remuneration and social security | 454/9 | €1,029 | €1,092 | +€63 | +6.1% |
| Other amounts payable | 47/48 | €82,120 | €71,887 | -€10,234 | -12.5% |
| Accrued charges and deferred income | 492/3 | €2,764 | €4,064 | +€1,301 | +47.1% |
| Non-recurring operating income | 76A | - | €15,206 | +€15,206 | |
| Remuneration, social security and pensions | 62 | €7,177 | €7,527 | +€351 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,159 | €21,488 | +€7,329 | +51.8% |
| Other operating charges | 640/8 | €3,481 | €2,871 | -€610 | -17.5% |
| Gross operating margin | 9900 | €61,364 | €49,012 | -€12,352 | -20.1% |
| Operating profit (loss) | 9901 | €36,547 | €17,125 | -€19,422 | -53.1% |
| Financial income | 75/76B | €11 | €3 | -€8 | -76.5% |
| Recurring financial income | 75 | €11 | €3 | -€8 | -76.5% |
| Financial charges | 65/66B | €12,977 | €6,146 | -€6,831 | -52.6% |
| Recurring financial charges | 65 | €12,977 | €6,146 | -€6,831 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €23,581 | €10,981 | -€12,599 | -53.4% |
| Income taxes | 67/77 | €9,194 | €4,757 | -€4,437 | -48.3% |
| Profit (loss) for the period | 9904 | €14,386 | €6,224 | -€8,163 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,386 | €6,224 | -€8,163 | -56.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.