SULMON: 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.
SULMON
Largest movements
- Cash +€777,878
up €777,878 (+268.2%), from €290,079 to €1.1m
mainly Current investments (+€750,000) and Net result for the year (+€273,728)
- Current investments -€750,000
down €750,000 (-97.2%), from €772,000 to €22,000
- Receivables within one year -€131,539
down €131,539 (-17.6%), from €745,422 to €613,884
of which Trade receivables: -€124,504
- Stocks and contracts +€87,113
up €87,113 (+4.8%), from €1.8m to €1.9m
- Reserves +€273,728
up €273,728 (+7.7%), from €3.6m to €3.8m
of which Distributable reserves: +€273,728
- Other debts -€190,500
down €190,500 (-79.9%), from €238,427 to €47,928
- Advances received -€74,100
down €74,100 (-50.0%), from €148,200 to €74,100
- Trade debts -€45,705
down €45,705 (-58.5%), from €78,158 to €32,453
- Gross operating margin -€51,973
down €51,973 (-8.2%), from €635,756 to €583,783
- Other operating charges -€10,743
down €10,743 (-65.1%), from €16,503 to €5,761
- Staff costs +€10,669
up €10,669 (+8.0%), from €133,527 to €144,196
- Taxes -€10,091
down €10,091 (-9.6%), from €104,658 to €94,567
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 | €4,101,226 | €4,075,369 | -€25,857 | -0.6% |
| Fixed assets | 21/28 | €456,396 | €444,570 | -€11,826 | -2.6% |
| Intangible fixed assets | 21 | €118 | €0 | -€118 | -100.0% |
| Tangible fixed assets | 22/27 | €456,278 | €444,570 | -€11,708 | -2.6% |
| Land and buildings | 22 | €95,439 | €78,287 | -€17,152 | -18.0% |
| Plant, machinery and equipment | 23 | €28,683 | €15,136 | -€13,547 | -47.2% |
| Furniture and vehicles | 24 | €332,157 | €351,147 | +€18,991 | +5.7% |
| Current assets | 29/58 | €3,644,830 | €3,630,799 | -€14,031 | -0.4% |
| Stocks and contracts in progress | 3 | €1,799,645 | €1,886,758 | +€87,113 | +4.8% |
| Stocks | 30/36 | €1,799,645 | €1,886,758 | +€87,113 | +4.8% |
| Amounts receivable within one year | 40/41 | €745,422 | €613,884 | -€131,539 | -17.6% |
| Trade receivables | 40 | €662,034 | €537,529 | -€124,504 | -18.8% |
| Other amounts receivable | 41 | €83,389 | €76,355 | -€7,034 | -8.4% |
| Current investments | 50/53 | €772,000 | €22,000 | -€750,000 | -97.2% |
| Cash at bank and in hand | 54/58 | €290,079 | €1,067,957 | +€777,878 | +268.2% |
| Deferred charges and accrued income | 490/1 | €37,684 | €40,200 | +€2,516 | +6.7% |
| Total equity and liabilities | 10/49 | €4,101,226 | €4,075,369 | -€25,857 | -0.6% |
| Equity | 10/15 | €3,615,195 | €3,888,924 | +€273,728 | +7.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,553,695 | €3,827,424 | +€273,728 | +7.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,867 | €18,867 | = | 0.0% |
| Distributable reserves | 133 | €3,528,679 | €3,802,407 | +€273,728 | +7.8% |
| Amounts payable | 17/49 | €486,031 | €186,445 | -€299,586 | -61.6% |
| Amounts payable within one year | 42/48 | €476,506 | €180,875 | -€295,632 | -62.0% |
| Trade debts | 44 | €78,158 | €32,453 | -€45,705 | -58.5% |
| Suppliers | 440/4 | €78,158 | €32,453 | -€45,705 | -58.5% |
| Advances received on contracts in progress | 46 | €148,200 | €74,100 | -€74,100 | -50.0% |
| Taxes, remuneration and social security | 45 | €11,721 | €26,394 | +€14,673 | +125.2% |
| Taxes | 450/3 | €2,506 | €16,595 | +€14,088 | +562.1% |
| Remuneration and social security | 454/9 | €9,214 | €9,800 | +€585 | +6.4% |
| Other amounts payable | 47/48 | €238,427 | €47,928 | -€190,500 | -79.9% |
| Accrued charges and deferred income | 492/3 | €9,525 | €5,570 | -€3,954 | -41.5% |
| Non-recurring operating income | 76A | €6,708 | €0 | -€6,708 | -100.0% |
| Remuneration, social security and pensions | 62 | €133,527 | €144,196 | +€10,669 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,625 | €110,999 | -€1,626 | -1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,682 | €0 | +€1,682 | |
| Other operating charges | 640/8 | €16,503 | €5,761 | -€10,743 | -65.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €635,756 | €583,783 | -€51,973 | -8.2% |
| Operating profit (loss) | 9901 | €374,783 | €322,827 | -€51,956 | -13.9% |
| Financial income | 75/76B | €75,658 | €78,601 | +€2,943 | +3.9% |
| Recurring financial income | 75 | €75,658 | €78,601 | +€2,943 | +3.9% |
| Financial charges | 65/66B | €38,217 | €33,132 | -€5,084 | -13.3% |
| Recurring financial charges | 65 | €38,217 | €33,132 | -€5,084 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €412,225 | €368,296 | -€43,929 | -10.7% |
| Income taxes | 67/77 | €104,658 | €94,567 | -€10,091 | -9.6% |
| Profit (loss) for the period | 9904 | €307,566 | €273,728 | -€33,838 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €307,566 | €273,728 | -€33,838 | -11.0% |
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.