SULTAN: 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.
SULTAN
Largest movements
- Tangible fixed assets -€5,479
down €5,479 (-18.5%), from €29,604 to €24,125
of which Land and buildings: -€3,299
- Cash +€2,599
up €2,599 (+17.1%), from €15,160 to €17,759
mainly Net result for the year (+€5,758) and Depreciation (+€5,479)
- Receivables within one year -€921
down €921 (-100.0%), from €921 to €0
- Other debts -€6,430
down €6,430 (-12.3%), from €52,262 to €45,831
- Profit (loss) carried forward +€5,758
up €5,758 (+19.9%), from -€28,916 to -€23,158
- Trade debts -€1,959
down €1,959 (-89.8%), from €2,180 to €221
- Tax, wage and social debts -€1,170
down €1,170 (-75.1%), from €1,558 to €388
- Gross operating margin -€2,453
down €2,453 (-16.9%), from €14,551 to €12,097
- Financial charges -€179
down €179 (-51.5%), from €347 to €168
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 | €45,684 | €41,884 | -€3,800 | -8.3% |
| Fixed assets | 21/28 | €29,604 | €24,125 | -€5,479 | -18.5% |
| Tangible fixed assets | 22/27 | €29,604 | €24,125 | -€5,479 | -18.5% |
| Land and buildings | 22 | €17,803 | €14,503 | -€3,299 | -18.5% |
| Plant, machinery and equipment | 23 | €11,801 | €9,622 | -€2,180 | -18.5% |
| Current assets | 29/58 | €16,080 | €17,759 | +€1,678 | +10.4% |
| Amounts receivable within one year | 40/41 | €921 | €0 | -€921 | -100.0% |
| Other amounts receivable | 41 | €921 | €0 | -€921 | -100.0% |
| Cash at bank and in hand | 54/58 | €15,160 | €17,759 | +€2,599 | +17.1% |
| Total equity and liabilities | 10/49 | €45,684 | €41,884 | -€3,800 | -8.3% |
| Equity | 10/15 | -€10,316 | -€4,558 | +€5,758 | +55.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,916 | -€23,158 | +€5,758 | +19.9% |
| Amounts payable | 17/49 | €56,000 | €46,441 | -€9,558 | -17.1% |
| Amounts payable within one year | 42/48 | €56,000 | €46,441 | -€9,558 | -17.1% |
| Trade debts | 44 | €2,180 | €221 | -€1,959 | -89.8% |
| Suppliers | 440/4 | €2,180 | €221 | -€1,959 | -89.8% |
| Taxes, remuneration and social security | 45 | €1,558 | €388 | -€1,170 | -75.1% |
| Taxes | 450/3 | €1,558 | €388 | -€1,170 | -75.1% |
| Other amounts payable | 47/48 | €52,262 | €45,831 | -€6,430 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,479 | €5,479 | = | 0.0% |
| Other operating charges | 640/8 | €602 | €706 | +€104 | +17.2% |
| Gross operating margin | 9900 | €14,551 | €12,097 | -€2,453 | -16.9% |
| Operating profit (loss) | 9901 | €8,470 | €5,913 | -€2,557 | -30.2% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €347 | €168 | -€179 | -51.5% |
| Recurring financial charges | 65 | €347 | €168 | -€179 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €8,123 | €5,758 | -€2,365 | -29.1% |
| Profit (loss) for the period | 9904 | €8,123 | €5,758 | -€2,365 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,123 | €5,758 | -€2,365 | -29.1% |
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 6 October 2026 via checked.be.