SÜD: 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.
SÜD
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€44,071
up €44,071 (+48.3%), from €91,283 to €135,354
- Debts after one year -€36,810
down €36,810 (-57.7%), from €63,748 to €26,938
- Tax, wage and social debts -€7,888
no longer reported in 2025 (was €7,888)
of which Remuneration and social security: -€7,129
- Profit (loss) carried forward +€2,644
up €2,644 (+1.3%), from -€195,896 to -€193,252
- Trade debts -€2,085
down €2,085 (-71.8%), from €2,905 to €820
- Staff costs -€137,027
no longer reported in 2025 (was €137,027)
- Depreciation -€69,137
no longer reported in 2025 (was €69,137)
- Gross operating margin -€45,367
down €45,367 (-90.4%), from €50,168 to €4,801
- Other operating charges -€6,035
down €6,035 (-92.1%), from €6,555 to €520
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 | €56,406 | €56,835 | +€429 | +0.8% |
| Current assets | 29/58 | €56,406 | €56,835 | +€429 | +0.8% |
| Amounts receivable within one year | 40/41 | €6,357 | €6,418 | +€61 | +1.0% |
| Trade receivables | 40 | €6,357 | €6,357 | = | 0.0% |
| Other amounts receivable | 41 | - | €61 | +€61 | |
| Current investments | 50/53 | €50,000 | €50,250 | +€250 | +0.5% |
| Cash at bank and in hand | 54/58 | €49 | €167 | +€118 | +240.8% |
| Total equity and liabilities | 10/49 | €56,406 | €56,835 | +€429 | +0.8% |
| Equity | 10/15 | -€145,731 | -€143,087 | +€2,644 | +1.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €165 | €165 | = | 0.0% |
| Non-distributable reserves | 130/1 | €165 | €165 | = | 0.0% |
| Reserves not available under the articles | 1311 | €165 | €165 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€195,896 | -€193,252 | +€2,644 | +1.3% |
| Amounts payable | 17/49 | €202,137 | €199,922 | -€2,215 | -1.1% |
| Amounts payable after more than one year | 17 | €63,748 | €26,938 | -€36,810 | -57.7% |
| Financial debts | 170/4 | €63,748 | €26,938 | -€36,810 | -57.7% |
| Amounts payable within one year | 42/48 | €138,389 | €172,984 | +€34,595 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €36,313 | €36,810 | +€497 | +1.4% |
| Trade debts | 44 | €2,905 | €820 | -€2,085 | -71.8% |
| Suppliers | 440/4 | €2,905 | €820 | -€2,085 | -71.8% |
| Taxes, remuneration and social security | 45 | €7,888 | - | -€7,888 | |
| Taxes | 450/3 | €759 | - | -€759 | |
| Remuneration and social security | 454/9 | €7,129 | - | -€7,129 | |
| Other amounts payable | 47/48 | €91,283 | €135,354 | +€44,071 | +48.3% |
| Non-recurring operating income | 76A | €989 | - | -€989 | |
| Remuneration, social security and pensions | 62 | €137,027 | - | -€137,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,137 | - | -€69,137 | |
| Other operating charges | 640/8 | €6,555 | €520 | -€6,035 | -92.1% |
| Gross operating margin | 9900 | €50,168 | €4,801 | -€45,367 | -90.4% |
| Operating profit (loss) | 9901 | -€162,551 | €4,281 | +€166,832 | |
| Financial income | 75/76B | €58 | - | -€58 | |
| Recurring financial income | 75 | €58 | - | -€58 | |
| Financial charges | 65/66B | €2,122 | €1,637 | -€485 | -22.9% |
| Recurring financial charges | 65 | €2,122 | €1,637 | -€485 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | -€164,615 | €2,644 | +€167,259 | |
| Profit (loss) for the period | 9904 | -€164,615 | €2,644 | +€167,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€164,615 | €2,644 | +€167,259 |
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 10 October 2026 via checked.be.