Sudor: 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.
Sudor
Largest movements
- Tangible fixed assets +€105,086
up €105,086 (+331.7%), from €31,680 to €136,766
of which Assets under construction and advance payments: +€99,791
- Cash -€101,245
down €101,245 (-41.9%), from €241,524 to €140,278
mainly Investment in fixed assets (net) (-€108,877) and Tax, wage and social debts (-€34,265)
- Other debts +€43,296
up €43,296 (+58.7%), from €73,806 to €117,102
- Tax, wage and social debts -€34,265
down €34,265 (-88.4%), from €38,779 to €4,515
- Short-term financial debts -€8,932
down €8,932 (-100.0%), from €8,932 to €0
- Reserves +€4,630
up €4,630 (+3.7%), from €125,349 to €129,979
- Trade debts +€3,900
up €3,900 (+149.5%), from €2,609 to €6,509
- Gross operating margin -€150,898
down €150,898 (-92.8%), from €162,646 to €11,749
- Taxes -€31,264
down €31,264 (-87.4%), from €35,779 to €4,515
- Financial charges -€3,169
down €3,169, from €439 to -€2,731
- Depreciation +€3,099
up €3,099 (+447.3%), from €693 to €3,792
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 | €274,475 | €283,104 | +€8,629 | +3.1% |
| Fixed assets | 21/28 | €31,680 | €136,766 | +€105,086 | +331.7% |
| Tangible fixed assets | 22/27 | €31,680 | €136,766 | +€105,086 | +331.7% |
| Plant, machinery and equipment | 23 | €4,867 | €4,226 | -€641 | -13.2% |
| Furniture and vehicles | 24 | €17,490 | €17,490 | = | 0.0% |
| Other tangible fixed assets | 26 | €9,323 | €15,259 | +€5,936 | +63.7% |
| Assets under construction and advance payments | 27 | - | €99,791 | +€99,791 | |
| Current assets | 29/58 | €242,795 | €146,338 | -€96,457 | -39.7% |
| Amounts receivable within one year | 40/41 | €1,271 | €4,020 | +€2,749 | +216.3% |
| Trade receivables | 40 | - | €700 | +€700 | |
| Other amounts receivable | 41 | €1,271 | €3,320 | +€2,049 | +161.2% |
| Cash at bank and in hand | 54/58 | €241,524 | €140,278 | -€101,245 | -41.9% |
| Deferred charges and accrued income | 490/1 | €0 | €2,040 | +€2,039 | +755325.9% |
| Total equity and liabilities | 10/49 | €274,475 | €283,104 | +€8,629 | +3.1% |
| Equity | 10/15 | €150,349 | €154,979 | +€4,630 | +3.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €125,349 | €129,979 | +€4,630 | +3.7% |
| Distributable reserves | 133 | €125,349 | €129,979 | +€4,630 | +3.7% |
| Amounts payable | 17/49 | €124,126 | €128,126 | +€4,000 | +3.2% |
| Amounts payable within one year | 42/48 | €124,126 | €128,126 | +€4,000 | +3.2% |
| Financial debts | 43 | €8,932 | €0 | -€8,932 | -100.0% |
| Credit institutions | 430/8 | €8,932 | €0 | -€8,932 | -100.0% |
| Trade debts | 44 | €2,609 | €6,509 | +€3,900 | +149.5% |
| Suppliers | 440/4 | €2,609 | €6,509 | +€3,900 | +149.5% |
| Taxes, remuneration and social security | 45 | €38,779 | €4,515 | -€34,265 | -88.4% |
| Taxes | 450/3 | €38,779 | €4,515 | -€34,265 | -88.4% |
| Other amounts payable | 47/48 | €73,806 | €117,102 | +€43,296 | +58.7% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | -€0 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €693 | €3,792 | +€3,099 | +447.3% |
| Other operating charges | 640/8 | €387 | €1,543 | +€1,156 | +298.5% |
| Gross operating margin | 9900 | €162,646 | €11,749 | -€150,898 | -92.8% |
| Operating profit (loss) | 9901 | €161,566 | €6,414 | -€155,153 | -96.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -40.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -40.7% |
| Financial charges | 65/66B | €439 | -€2,731 | -€3,169 | |
| Recurring financial charges | 65 | €439 | -€2,731 | -€3,169 | |
| Profit (loss) for the period before taxes | 9903 | €161,128 | €9,144 | -€151,984 | -94.3% |
| Income taxes | 67/77 | €35,779 | €4,515 | -€31,264 | -87.4% |
| Profit (loss) for the period | 9904 | €125,349 | €4,630 | -€120,720 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €125,349 | €4,630 | -€120,720 | -96.3% |
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 30 September 2026 via checked.be.