SUDI: 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.
SUDI
Largest movements
- Tangible fixed assets -€45,187
down €45,187 (-13.5%), from €333,687 to €288,500
of which Other tangible fixed assets: -€40,342
- Cash +€31,511
up €31,511 (+13.9%), from €225,974 to €257,485
mainly Depreciation (+€76,850) and Tax, wage and social debts (+€75,937)
- Stocks and contracts -€27,410
down €27,410 (-12.9%), from €212,497 to €185,088
- Deferred charges and accrued income +€26,000
new in 2025: €26,000
- Receivables within one year -€12,591
down €12,591 (-21.2%), from €59,373 to €46,782
of which Other amounts receivable: -€13,929
- Trade debts -€85,463
down €85,463 (-21.7%), from €393,306 to €307,844
- Tax, wage and social debts +€75,937
up €75,937 (+840.5%), from €9,034 to €84,971
of which Taxes: +€57,653
- Other debts -€11,702
down €11,702 (-12.3%), from €95,141 to €83,439
- Profit (loss) carried forward -€10,013
down €10,013 (-37.6%), from €26,638 to €16,625
- Gross operating margin +€197,780
up €197,780 (+137.1%), from €144,307 to €342,088
- Staff costs +€120,867
up €120,867 (+108.6%), from €111,289 to €232,155
- Depreciation +€56,533
up €56,533 (+278.3%), from €20,317 to €76,850
- Other operating charges +€17,547
up €17,547 (+224.7%), from €7,808 to €25,355
- Financial charges +€8,039
up €8,039 (+79.8%), from €10,070 to €18,109
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 | €831,532 | €803,855 | -€27,677 | -3.3% |
| Fixed assets | 21/28 | €333,687 | €288,500 | -€45,187 | -13.5% |
| Tangible fixed assets | 22/27 | €333,687 | €288,500 | -€45,187 | -13.5% |
| Furniture and vehicles | 24 | €9,287 | €4,442 | -€4,845 | -52.2% |
| Other tangible fixed assets | 26 | €324,400 | €284,059 | -€40,342 | -12.4% |
| Current assets | 29/58 | €497,844 | €515,355 | +€17,510 | +3.5% |
| Stocks and contracts in progress | 3 | €212,497 | €185,088 | -€27,410 | -12.9% |
| Stocks | 30/36 | €212,497 | €185,088 | -€27,410 | -12.9% |
| Amounts receivable within one year | 40/41 | €59,373 | €46,782 | -€12,591 | -21.2% |
| Trade receivables | 40 | €45,444 | €46,782 | +€1,338 | +2.9% |
| Other amounts receivable | 41 | €13,929 | - | -€13,929 | |
| Cash at bank and in hand | 54/58 | €225,974 | €257,485 | +€31,511 | +13.9% |
| Deferred charges and accrued income | 490/1 | - | €26,000 | +€26,000 | |
| Total equity and liabilities | 10/49 | €831,532 | €803,855 | -€27,677 | -3.3% |
| Equity | 10/15 | €121,066 | €111,053 | -€10,013 | -8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,828 | €75,828 | = | 0.0% |
| 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 | €73,968 | €73,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,638 | €16,625 | -€10,013 | -37.6% |
| Amounts payable | 17/49 | €710,466 | €692,802 | -€17,664 | -2.5% |
| Amounts payable after more than one year | 17 | €181,549 | €185,647 | +€4,098 | +2.3% |
| Financial debts | 170/4 | €181,549 | €185,647 | +€4,098 | +2.3% |
| Amounts payable within one year | 42/48 | €528,917 | €507,155 | -€21,762 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €31,435 | €30,902 | -€533 | -1.7% |
| Trade debts | 44 | €393,306 | €307,844 | -€85,463 | -21.7% |
| Suppliers | 440/4 | €393,306 | €307,844 | -€85,463 | -21.7% |
| Taxes, remuneration and social security | 45 | €9,034 | €84,971 | +€75,937 | +840.5% |
| Taxes | 450/3 | €44 | €57,697 | +€57,653 | +130939.6% |
| Remuneration and social security | 454/9 | €8,990 | €27,274 | +€18,284 | +203.4% |
| Other amounts payable | 47/48 | €95,141 | €83,439 | -€11,702 | -12.3% |
| Remuneration, social security and pensions | 62 | €111,289 | €232,155 | +€120,867 | +108.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,317 | €76,850 | +€56,533 | +278.3% |
| Other operating charges | 640/8 | €7,808 | €25,355 | +€17,547 | +224.7% |
| Gross operating margin | 9900 | €144,307 | €342,088 | +€197,780 | +137.1% |
| Operating profit (loss) | 9901 | €4,893 | €7,727 | +€2,833 | +57.9% |
| Financial income | 75/76B | €7,720 | €370 | -€7,350 | -95.2% |
| Recurring financial income | 75 | €7,720 | €370 | -€7,350 | -95.2% |
| Financial charges | 65/66B | €10,070 | €18,109 | +€8,039 | +79.8% |
| Recurring financial charges | 65 | €10,070 | €18,109 | +€8,039 | +79.8% |
| Profit (loss) for the period before taxes | 9903 | €2,544 | -€10,013 | -€12,556 | |
| Profit (loss) for the period | 9904 | €2,544 | -€10,013 | -€12,556 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,544 | -€10,013 | -€12,556 |
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 11 October 2026 via checked.be.