LE SULTAN: 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.
LE SULTAN
Largest movements
- Cash +€24,010
up €24,010 (+330%), from €7,286 to €31,296
mainly Other debts (+€56,811) and Net result for the year (+€16,247)
- Receivables within one year +€6,910
up €6,910 (+5.0%), from €137,064 to €143,974
of which Other amounts receivable: +€8,151
- Deferred charges and accrued income +€3,528
up €3,528 (+69.5%), from €5,076 to €8,603
- Other debts +€56,811
up €56,811 (+228%), from €24,925 to €81,736
- Reserves -€34,000
down €34,000 (-51.2%), from €66,400 to €32,400
- Tax, wage and social debts +€8,679
up €8,679 (+34.7%), from €25,029 to €33,708
of which Taxes: +€9,096
- Trade debts +€6,767
up €6,767 (+32.3%), from €20,981 to €27,748
- Debts after one year -€2,567
down €2,567 (-39.9%), from €6,430 to €3,863
- Gross operating margin +€30,619
up €30,619 (+21.5%), from €142,520 to €173,139
- Staff costs +€26,322
up €26,322 (+23.3%), from €113,030 to €139,352
- Taxes +€3,908
up €3,908 (+213%), from €1,834 to €5,743
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 | €178,363 | €212,949 | +€34,586 | +19.4% |
| Fixed assets | 21/28 | €20,561 | €21,335 | +€773 | +3.8% |
| Tangible fixed assets | 22/27 | €20,561 | €21,335 | +€773 | +3.8% |
| Plant, machinery and equipment | 23 | €11,877 | €10,635 | -€1,243 | -10.5% |
| Furniture and vehicles | 24 | €325 | €3,687 | +€3,362 | +1,034% |
| Other tangible fixed assets | 26 | €8,359 | €7,013 | -€1,346 | -16.1% |
| Current assets | 29/58 | €157,802 | €191,615 | +€33,812 | +21.4% |
| Stocks and contracts in progress | 3 | €8,377 | €7,742 | -€635 | -7.6% |
| Stocks | 30/36 | €8,377 | €7,742 | -€635 | -7.6% |
| Amounts receivable within one year | 40/41 | €137,064 | €143,974 | +€6,910 | +5.0% |
| Trade receivables | 40 | €3,233 | €1,992 | -€1,241 | -38.4% |
| Other amounts receivable | 41 | €133,831 | €141,981 | +€8,151 | +6.1% |
| Cash at bank and in hand | 54/58 | €7,286 | €31,296 | +€24,010 | +330% |
| Deferred charges and accrued income | 490/1 | €5,076 | €8,603 | +€3,528 | +69.5% |
| Total equity and liabilities | 10/49 | €178,363 | €212,949 | +€34,586 | +19.4% |
| Equity | 10/15 | €97,080 | €63,327 | -€33,753 | -34.8% |
| Contributions | 10/11 | €18,617 | €18,617 | = | 0.0% |
| Reserves | 13 | €66,400 | €32,400 | -€34,000 | -51.2% |
| Distributable reserves | 133 | €66,400 | €32,400 | -€34,000 | -51.2% |
| Profit (loss) carried forward | 14 | €12,063 | €12,310 | +€247 | +2.0% |
| Amounts payable | 17/49 | €81,283 | €149,622 | +€68,339 | +84.1% |
| Amounts payable after more than one year | 17 | €6,430 | €3,863 | -€2,567 | -39.9% |
| Financial debts | 170/4 | €6,430 | €3,863 | -€2,567 | -39.9% |
| Amounts payable within one year | 42/48 | €74,853 | €145,759 | +€70,906 | +94.7% |
| Current portion of amounts payable after more than one year | 42 | €3,917 | €2,567 | -€1,350 | -34.5% |
| Trade debts | 44 | €20,981 | €27,748 | +€6,767 | +32.3% |
| Suppliers | 440/4 | €20,981 | €27,748 | +€6,767 | +32.3% |
| Taxes, remuneration and social security | 45 | €25,029 | €33,708 | +€8,679 | +34.7% |
| Taxes | 450/3 | €6,801 | €15,897 | +€9,096 | +134% |
| Remuneration and social security | 454/9 | €18,229 | €17,811 | -€417 | -2.3% |
| Other amounts payable | 47/48 | €24,925 | €81,736 | +€56,811 | +228% |
| Remuneration, social security and pensions | 62 | €113,030 | €139,352 | +€26,322 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,069 | €4,779 | +€710 | +17.4% |
| Other operating charges | 640/8 | €5,034 | €4,231 | -€803 | -16.0% |
| Gross operating margin | 9900 | €142,520 | €173,139 | +€30,619 | +21.5% |
| Operating profit (loss) | 9901 | €20,388 | €24,778 | +€4,390 | +21.5% |
| Financial income | 75/76B | €1,651 | €8 | -€1,643 | -99.5% |
| Recurring financial income | 75 | €1,651 | €8 | -€1,643 | -99.5% |
| Financial charges | 65/66B | €3,700 | €2,797 | -€903 | -24.4% |
| Recurring financial charges | 65 | €3,700 | €2,797 | -€903 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €18,339 | €21,989 | +€3,650 | +19.9% |
| Income taxes | 67/77 | €1,834 | €5,743 | +€3,908 | +213% |
| Profit (loss) for the period | 9904 | €16,505 | €16,247 | -€258 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,505 | €16,247 | -€258 | -1.6% |
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 15 October 2026 via checked.be.