SUDTRAFOR: 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.
SUDTRAFOR
Largest movements
- Cash +€797,590
up €797,590 (+219.2%), from €363,943 to €1.2m
mainly Net result for the year (+€1.2m) and Other debts (+€286,000)
- Receivables within one year +€338,733
up €338,733 (+33.7%), from €1.0m to €1.3m
of which Trade receivables: +€362,073
- Tangible fixed assets +€175,808
up €175,808 (+16.5%), from €1.1m to €1.2m
of which Leasing and similar rights: +€90,562
- Reserves +€960,000
up €960,000 (+163.5%), from €587,011 to €1.5m
of which Distributable reserves: +€960,000
- Other debts +€286,000
up €286,000 (+810.6%), from €35,281 to €321,281
- Gross operating margin +€1.3m
up €1.3m (+95.0%), from €1.4m to €2.7m
- Taxes +€331,013
up €331,013 (+375.6%), from €88,132 to €419,145
- Depreciation +€62,072
up €62,072 (+36.2%), from €171,590 to €233,662
- Write-downs +€27,694
no longer reported in 2025 (was -€27,694)
- Other operating charges -€27,555
down €27,555 (-47.8%), from €57,589 to €30,034
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 | €2,502,072 | €3,794,463 | +€1.3m | +51.7% |
| Fixed assets | 21/28 | €1,066,947 | €1,242,755 | +€175,808 | +16.5% |
| Tangible fixed assets | 22/27 | €1,066,241 | €1,242,048 | +€175,808 | +16.5% |
| Land and buildings | 22 | €511,046 | €465,740 | -€45,306 | -8.9% |
| Plant, machinery and equipment | 23 | €287,927 | €361,418 | +€73,491 | +25.5% |
| Furniture and vehicles | 24 | €161,996 | €219,057 | +€57,061 | +35.2% |
| Leasing and similar rights | 25 | €105,271 | €195,833 | +€90,562 | +86.0% |
| Financial fixed assets | 28 | €707 | €707 | = | 0.0% |
| Current assets | 29/58 | €1,435,125 | €2,551,708 | +€1.1m | +77.8% |
| Stocks and contracts in progress | 3 | €15,000 | €7,592 | -€7,408 | -49.4% |
| Stocks | 30/36 | €15,000 | €7,592 | -€7,408 | -49.4% |
| Amounts receivable within one year | 40/41 | €1,005,805 | €1,344,538 | +€338,733 | +33.7% |
| Trade receivables | 40 | €780,304 | €1,142,378 | +€362,073 | +46.4% |
| Other amounts receivable | 41 | €225,501 | €202,161 | -€23,340 | -10.4% |
| Current investments | 50/53 | €5,437 | €5,483 | +€46 | +0.8% |
| Cash at bank and in hand | 54/58 | €363,943 | €1,161,533 | +€797,590 | +219.2% |
| Deferred charges and accrued income | 490/1 | €44,940 | €32,562 | -€12,378 | -27.5% |
| Total equity and liabilities | 10/49 | €2,502,072 | €3,794,463 | +€1.3m | +51.7% |
| Equity | 10/15 | €1,730,781 | €2,676,232 | +€945,451 | +54.6% |
| Contributions | 10/11 | €1,092,616 | €1,092,616 | = | 0.0% |
| Capital | 10 | €1,092,616 | €1,092,616 | = | 0.0% |
| Issued capital | 100 | €1,092,616 | €1,092,616 | = | 0.0% |
| Reserves | 13 | €587,011 | €1,547,011 | +€960,000 | +163.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €543,311 | €1,503,311 | +€960,000 | +176.7% |
| Profit (loss) carried forward | 14 | €51,153 | €36,604 | -€14,549 | -28.4% |
| Amounts payable | 17/49 | €771,291 | €1,118,232 | +€346,940 | +45.0% |
| Amounts payable after more than one year | 17 | €263,866 | €295,387 | +€31,521 | +11.9% |
| Financial debts | 170/4 | €263,866 | €295,387 | +€31,521 | +11.9% |
| Amounts payable within one year | 42/48 | €507,385 | €822,845 | +€315,460 | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €116,919 | €150,397 | +€33,478 | +28.6% |
| Trade debts | 44 | €306,556 | €268,646 | -€37,910 | -12.4% |
| Suppliers | 440/4 | €306,556 | €268,646 | -€37,910 | -12.4% |
| Taxes, remuneration and social security | 45 | €48,629 | €82,520 | +€33,892 | +69.7% |
| Taxes | 450/3 | €4,450 | €1,573 | -€2,877 | -64.7% |
| Remuneration and social security | 454/9 | €44,179 | €80,947 | +€36,768 | +83.2% |
| Other amounts payable | 47/48 | €35,281 | €321,281 | +€286,000 | +810.6% |
| Accrued charges and deferred income | 492/3 | €41 | - | -€41 | |
| Non-recurring operating income | 76A | €25,935 | - | -€25,935 | |
| Remuneration, social security and pensions | 62 | €793,181 | €771,150 | -€22,031 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,590 | €233,662 | +€62,072 | +36.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,694 | - | +€27,694 | |
| Other operating charges | 640/8 | €57,589 | €30,034 | -€27,555 | -47.8% |
| Gross operating margin | 9900 | €1,386,238 | €2,703,297 | +€1.3m | +95.0% |
| Operating profit (loss) | 9901 | €391,572 | €1,668,451 | +€1.3m | +326.1% |
| Financial income | 75/76B | €3,736 | €6,609 | +€2,873 | +76.9% |
| Recurring financial income | 75 | €3,736 | €6,609 | +€2,873 | +76.9% |
| Financial charges | 65/66B | €21,183 | €24,465 | +€3,282 | +15.5% |
| Recurring financial charges | 65 | €21,183 | €24,465 | +€3,282 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €374,125 | €1,650,595 | +€1.3m | +341.2% |
| Income taxes | 67/77 | €88,132 | €419,145 | +€331,013 | +375.6% |
| Profit (loss) for the period | 9904 | €285,993 | €1,231,451 | +€945,457 | +330.6% |
| Profit (loss) for the period to be appropriated | 9905 | €285,993 | €1,231,451 | +€945,457 | +330.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.