SULTAN: 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.
SULTAN
Largest movements
- Cash +€12,168
up €12,168 (+165%), from €7,367 to €19,535
mainly Debts after one year (+€14,027) and Receivables within one year (+€12,019)
- Receivables within one year -€12,019
down €12,019 (-15.9%), from €75,492 to €63,474
of which Other amounts receivable: -€12,019
- Profit (loss) carried forward -€22,637
down €22,637 (-31.7%), from €71,364 to €48,727
- Debts after one year +€14,027
up €14,027 (+56.9%), from €24,650 to €38,677
- Accrued charges and deferred income +€3,870
new in 2025: €3,870
- Other debts +€3,385
new in 2025: €3,385
- Trade debts +€2,962
new in 2025: €2,962
- Gross operating margin -€35,668
down €35,668, from €15,191 to -€20,477
- Other operating charges -€2,279
down €2,279 (-57.6%), from €3,957 to €1,678
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.
Derived cash bridge
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 | €106,407 | €106,556 | +€149 | +0.1% |
| Fixed assets | 21/28 | €1,810 | €1,810 | = | 0.0% |
| Financial fixed assets | 28 | €1,810 | €1,810 | = | 0.0% |
| Current assets | 29/58 | €104,597 | €104,746 | +€149 | +0.1% |
| Stocks and contracts in progress | 3 | €21,737 | €21,737 | = | 0.0% |
| Stocks | 30/36 | €21,737 | €21,737 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,492 | €63,474 | -€12,019 | -15.9% |
| Trade receivables | 40 | €12,742 | €12,742 | = | 0.0% |
| Other amounts receivable | 41 | €62,751 | €50,732 | -€12,019 | -19.2% |
| Cash at bank and in hand | 54/58 | €7,367 | €19,535 | +€12,168 | +165% |
| Total equity and liabilities | 10/49 | €106,407 | €106,556 | +€149 | +0.1% |
| Equity | 10/15 | €79,424 | €56,787 | -€22,637 | -28.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,364 | €48,727 | -€22,637 | -31.7% |
| Amounts payable | 17/49 | €26,983 | €49,769 | +€22,786 | +84.4% |
| Amounts payable after more than one year | 17 | €24,650 | €38,677 | +€14,027 | +56.9% |
| Financial debts | 170/4 | €24,650 | €38,677 | +€14,027 | +56.9% |
| Amounts payable within one year | 42/48 | €2,333 | €7,222 | +€4,889 | +210% |
| Financial debts | 43 | €1,391 | - | -€1,391 | |
| Credit institutions | 430/8 | €1,391 | - | -€1,391 | |
| Trade debts | 44 | - | €2,962 | +€2,962 | |
| Suppliers | 440/4 | - | €2,962 | +€2,962 | |
| Taxes, remuneration and social security | 45 | €941 | €875 | -€66 | -7.0% |
| Taxes | 450/3 | €941 | €875 | -€66 | -7.0% |
| Other amounts payable | 47/48 | - | €3,385 | +€3,385 | |
| Accrued charges and deferred income | 492/3 | - | €3,870 | +€3,870 | |
| Other operating charges | 640/8 | €3,957 | €1,678 | -€2,279 | -57.6% |
| Gross operating margin | 9900 | €15,191 | -€20,477 | -€35,668 | |
| Operating profit (loss) | 9901 | €11,234 | -€22,155 | -€33,389 | |
| Financial charges | 65/66B | €410 | €482 | +€72 | +17.6% |
| Recurring financial charges | 65 | €410 | €482 | +€72 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €10,824 | -€22,637 | -€33,461 | |
| Profit (loss) for the period | 9904 | €10,824 | -€22,637 | -€33,461 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,824 | -€22,637 | -€33,461 |
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 17 October 2026 via checked.be.