SUDRIN: 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.
What changed
SUDRIN
NACE 55.100, Hotels and similar accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€444,964
2024 · €210,500+€234,464
Equity
€4.2m
2024 · €1.8m+€2.5m
Cash
€3.7m
2024 · €524,728+€3.2m
Balance sheet total
€6.8m
2024 · €3.8m+€3.0m
Largest movements
Assets
- Cash +€3.2m
up €3.2m (+600.5%), from €524,728 to €3.7m
mainly Contributions, distributions and other (+€2.0m) and Provisions (+€722,812)
- Intangible fixed assets -€162,932
down €162,932 (-98.8%), from €164,839 to €1,907
Equity and liabilities
- Reserves +€2.5m
up €2.5m (+248.2%), from €998,686 to €3.5m
of which Tax-exempt reserves: +€2.2m
- Provisions +€722,812
new in 2025: €722,812
- Debts after one year -€187,671
down €187,671 (-11.7%), from €1.6m to €1.4m
Income statement
- Gross operating margin +€102,397
up €102,397 (+5.5%), from €1.9m to €2.0m
- Staff costs -€78,959
down €78,959 (-10.3%), from €767,494 to €688,535
- Taxes +€36,636
up €36,636 (+23.0%), from €158,995 to €195,632
- Depreciation -€34,218
down €34,218 (-6.6%), from €522,142 to €487,924
- Financial income +€31,482
up €31,482 (+930.0%), from €3,385 to €34,868
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.
Result 2024
€210,500
Gross operating margin
+€102,397
Staff costs
+€78,959
Depreciation
+€34,218
Other operating charges
+€23,018
Financial income
+€31,482
Financial charges
-€260
Taxes
-€36,636
Deferred taxes and other
+€1,286
Result 2025
€444,964
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.
From operations
+€1.6m
Investment
-€324,600
Financing
+€1.9m
Cash 2024
€524,728
From operations (derived)
+€1.6m
Net result for the year
+€444,964
Depreciation
+€487,924
Stocks and contracts
+€781
Deferred charges and accrued income
-€5,880
Provisions
+€722,812
Trade debts
+€10,853
Tax, wage and social debts
+€7,478
Other debts
-€29,984
Accrued charges and deferred income
-€15,491
Investment (derived)
-€324,600
Investment in fixed assets (net)
-€324,600
Financing
+€1.9m
Debts after one year
-€187,671
Current portion of long-term debt
+€5,485
Contributions, distributions and other
+€2.0m
Cash 2025
€3.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,817,737 | €6,810,260 | +€3.0m | +78.4% |
| Fixed assets | 21/28 | €3,067,966 | €2,904,642 | -€163,324 | -5.3% |
| Intangible fixed assets | 21 | €164,839 | €1,907 | -€162,932 | -98.8% |
| Tangible fixed assets | 22/27 | €2,902,983 | €2,902,590 | -€392 | 0.0% |
| Land and buildings | 22 | €2,490,720 | €2,584,450 | +€93,730 | +3.8% |
| Plant, machinery and equipment | 23 | €126,213 | €99,998 | -€26,215 | -20.8% |
| Furniture and vehicles | 24 | €153,785 | €104,061 | -€49,724 | -32.3% |
| Other tangible fixed assets | 26 | €132,265 | €114,081 | -€18,183 | -13.7% |
| Financial fixed assets | 28 | €144 | €144 | = | 0.0% |
| Current assets | 29/58 | €749,771 | €3,905,618 | +€3.2m | +420.9% |
| Amounts receivable after more than one year | 29 | €205,000 | €205,000 | = | 0.0% |
| Other amounts receivable | 291 | €205,000 | €205,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,338 | €7,557 | -€781 | -9.4% |
| Stocks | 30/36 | €8,338 | €7,557 | -€781 | -9.4% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €524,728 | €3,675,477 | +€3.2m | +600.5% |
| Deferred charges and accrued income | 490/1 | €11,204 | €17,084 | +€5,880 | +52.5% |
| Total equity and liabilities | 10/49 | €3,817,737 | €6,810,260 | +€3.0m | +78.4% |
| Equity | 10/15 | €1,767,238 | €4,246,279 | +€2.5m | +140.3% |
| Contributions | 10/11 | €768,552 | €768,552 | = | 0.0% |
| Reserves | 13 | €998,686 | €3,477,727 | +€2.5m | +248.2% |
| Non-distributable reserves | 130/1 | €11 | €11 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11 | €11 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €2,168,436 | +€2.2m | |
| Distributable reserves | 133 | €998,674 | €1,309,280 | +€310,606 | +31.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €722,812 | +€722,812 | |
| Deferred taxes | 168 | - | €722,812 | +€722,812 | |
| Amounts payable | 17/49 | €2,050,499 | €1,841,168 | -€209,331 | -10.2% |
| Amounts payable after more than one year | 17 | €1,605,239 | €1,417,568 | -€187,671 | -11.7% |
| Financial debts | 170/4 | €1,605,239 | €1,417,568 | -€187,671 | -11.7% |
| Amounts payable within one year | 42/48 | €429,018 | €422,850 | -€6,168 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €184,186 | €189,671 | +€5,485 | +3.0% |
| Trade debts | 44 | €70,181 | €81,034 | +€10,853 | +15.5% |
| Suppliers | 440/4 | €70,181 | €81,034 | +€10,853 | +15.5% |
| Taxes, remuneration and social security | 45 | €107,644 | €115,121 | +€7,478 | +6.9% |
| Taxes | 450/3 | €78,329 | €88,721 | +€10,392 | +13.3% |
| Remuneration and social security | 454/9 | €29,315 | €26,401 | -€2,914 | -9.9% |
| Other amounts payable | 47/48 | €67,008 | €37,024 | -€29,984 | -44.7% |
| Accrued charges and deferred income | 492/3 | €16,241 | €750 | -€15,491 | -95.4% |
| Non-recurring operating income | 76A | - | €229,640 | +€229,640 | |
| Remuneration, social security and pensions | 62 | €767,494 | €688,535 | -€78,959 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522,142 | €487,924 | -€34,218 | -6.6% |
| Other operating charges | 640/8 | €52,098 | €29,080 | -€23,018 | -44.2% |
| Gross operating margin | 9900 | €1,853,143 | €1,955,540 | +€102,397 | +5.5% |
| Operating profit (loss) | 9901 | €511,408 | €750,000 | +€238,591 | +46.7% |
| Financial income | 75/76B | €3,385 | €34,868 | +€31,482 | +930.0% |
| Recurring financial income | 75 | €3,385 | €34,868 | +€31,482 | +930.0% |
| Financial charges | 65/66B | €145,298 | €145,558 | +€260 | +0.2% |
| Recurring financial charges | 65 | €145,298 | €145,558 | +€260 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €369,495 | €639,310 | +€269,814 | +73.0% |
| Transfer from deferred taxes | 780 | - | €1,286 | +€1,286 | |
| Income taxes | 67/77 | €158,995 | €195,632 | +€36,636 | +23.0% |
| Profit (loss) for the period | 9904 | €210,500 | €444,964 | +€234,464 | +111.4% |
| Transfer from tax-exempt reserves | 789 | - | €3,858 | +€3,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €210,500 | €448,822 | +€238,322 | +113.2% |
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 29 September 2026 via checked.be.