S.U.P.: 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.
S.U.P.
Largest movements
- Receivables within one year +€69,407
up €69,407 (+276.1%), from €25,139 to €94,546
of which Trade receivables: +€79,809
- Tangible fixed assets -€24,942
down €24,942 (-7.1%), from €352,497 to €327,555
of which Land and buildings: -€20,338
- Cash +€19,958
up €19,958 (+6.8%), from €291,887 to €311,846
mainly Net result for the year (+€74,795) and Depreciation (+€24,942)
- Reserves +€73,077
up €73,077 (+19.6%), from €372,582 to €445,659
of which Distributable reserves: +€73,077
- Debts after one year -€26,398
down €26,398 (-27.3%), from €96,542 to €70,144
- Tax, wage and social debts +€19,856
new in 2025: €19,856
- Gross operating margin +€92,947
up €92,947 (+238.4%), from €38,996 to €131,943
- Taxes +€19,031
up €19,031 (+892.6%), from €2,132 to €21,163
- Other operating charges +€4,380
up €4,380 (+107.2%), from €4,086 to €8,466
- Depreciation -€1,641
down €1,641 (-6.2%), from €26,583 to €24,942
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 | €734,522 | €798,946 | +€64,424 | +8.8% |
| Fixed assets | 21/28 | €417,497 | €392,555 | -€24,942 | -6.0% |
| Tangible fixed assets | 22/27 | €352,497 | €327,555 | -€24,942 | -7.1% |
| Land and buildings | 22 | €340,282 | €319,943 | -€20,338 | -6.0% |
| Furniture and vehicles | 24 | €12,215 | €7,611 | -€4,604 | -37.7% |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €317,026 | €406,391 | +€89,366 | +28.2% |
| Amounts receivable within one year | 40/41 | €25,139 | €94,546 | +€69,407 | +276.1% |
| Trade receivables | 40 | €13,856 | €93,665 | +€79,809 | +576.0% |
| Other amounts receivable | 41 | €11,283 | €881 | -€10,402 | -92.2% |
| Cash at bank and in hand | 54/58 | €291,887 | €311,846 | +€19,958 | +6.8% |
| Total equity and liabilities | 10/49 | €734,522 | €798,946 | +€64,424 | +8.8% |
| Equity | 10/15 | €378,780 | €451,856 | +€73,077 | +19.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €372,582 | €445,659 | +€73,077 | +19.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €370,723 | €443,800 | +€73,077 | +19.7% |
| Provisions and deferred taxes | 16 | €197,597 | €197,597 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €197,597 | €197,597 | = | 0.0% |
| Pensions and similar obligations | 160 | €197,597 | €197,597 | = | 0.0% |
| Amounts payable | 17/49 | €158,146 | €149,493 | -€8,653 | -5.5% |
| Amounts payable after more than one year | 17 | €96,542 | €70,144 | -€26,398 | -27.3% |
| Financial debts | 170/4 | €96,542 | €70,144 | -€26,398 | -27.3% |
| Amounts payable within one year | 42/48 | €61,604 | €79,349 | +€17,745 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €29,308 | €26,163 | -€3,145 | -10.7% |
| Trade debts | 44 | €119 | €1,357 | +€1,238 | +1040.2% |
| Suppliers | 440/4 | €119 | €1,357 | +€1,238 | +1040.2% |
| Taxes, remuneration and social security | 45 | - | €19,856 | +€19,856 | |
| Taxes | 450/3 | - | €19,856 | +€19,856 | |
| Other amounts payable | 47/48 | €32,177 | €31,974 | -€203 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,583 | €24,942 | -€1,641 | -6.2% |
| Other operating charges | 640/8 | €4,086 | €8,466 | +€4,380 | +107.2% |
| Gross operating margin | 9900 | €38,996 | €131,943 | +€92,947 | +238.4% |
| Operating profit (loss) | 9901 | €8,326 | €98,535 | +€90,209 | +1083.4% |
| Financial income | 75/76B | €0 | €147 | +€147 | +33320.5% |
| Recurring financial income | 75 | €0 | €147 | +€147 | +33320.5% |
| Financial charges | 65/66B | €3,182 | €2,725 | -€458 | -14.4% |
| Recurring financial charges | 65 | €3,182 | €2,725 | -€458 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €5,144 | €95,957 | +€90,813 | +1765.3% |
| Income taxes | 67/77 | €2,132 | €21,163 | +€19,031 | +892.6% |
| Profit (loss) for the period | 9904 | €3,012 | €74,795 | +€71,782 | +2383.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,012 | €74,795 | +€71,782 | +2383.0% |
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 9 October 2026 via checked.be.