SUMMA: 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
SUMMA
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7.5m
2024 · €8.3m-€784,341
Equity
€199.3m
2024 · €191.8m+€7.5m
Cash
€3.3m
2024 · €1.0m+€2.3m
Balance sheet total
€235.5m
2024 · €226.1m+€9.5m
Largest movements
Assets
- Financial fixed assets +€7.2m
up €7.2m (+4.5%), from €159.3m to €166.5m
of which Companies linked by participating interests: +€10.4m
- Receivables within one year +€6.7m
up €6.7m (+13.3%), from €50.9m to €57.6m
of which Other amounts receivable: +€5.8m
- Receivables after one year -€6.4m
down €6.4m (-57.8%), from €11.1m to €4.7m
Equity and liabilities
- Profit (loss) carried forward +€7.5m
up €7.5m (+4.3%), from €175.1m to €182.6m
Income statement
- Other operating income -€3.3m
no longer reported in 2025 (was €3.3m)
- Financial income +€2.1m
up €2.1m (+24.5%), from €8.5m to €10.6m
of which Financial income: +€2.7m
- Other operating charges -€298,578
down €298,578 (-68.2%), from €437,516 to €138,939
- Financial charges +€205,681
up €205,681 (+9.1%), from €2.3m to €2.5m
of which Non-recurring financial charges: +€250,000
- Turnover +€147,104
up €147,104 (+11.7%), from €1.3m to €1.4m
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
€8.3m
Turnover
+€147,104
Other operating income
-€3.3m
Goods and materials
-€2,005
Services and other goods
+€73,186
Staff costs
+€13,006
Depreciation
-€16
Other operating charges
+€298,578
Financial income
+€2.1m
Financial charges
-€205,681
Taxes
+€63,647
Result 2025
€7.5m
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
+€7.7m
Investment
-€7.0m
Financing
+€1.6m
Cash 2024
€1.0m
From operations (derived)
+€7.7m
Net result for the year
+€7.5m
Depreciation
+€22,328
Receivables after one year
+€6.4m
Smaller working-capital items
-€1,225
Receivables within one year
-€6.7m
Deferred charges and accrued income
+€64,879
Other debts
+€364,576
Investment (derived)
-€7.0m
Investment in fixed assets (net)
-€7.2m
Current investments
+€225,577
Financing
+€1.6m
Debts after one year
+€1.6m
Cash 2025
€3.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €226,057,482 | €235,529,928 | +€9.5m | +4.2% |
| Fixed assets | 21/28 | €159,376,608 | €166,561,991 | +€7.2m | +4.5% |
| Tangible fixed assets | 22/27 | €96,893 | €74,565 | -€22,328 | -23.0% |
| Furniture and vehicles | 24 | €96,893 | €74,565 | -€22,328 | -23.0% |
| Financial fixed assets | 28 | €159,279,715 | €166,487,426 | +€7.2m | +4.5% |
| Affiliated companies | 280/1 | €132,293,682 | €127,296,894 | -€5.0m | -3.8% |
| Participating interests | 280 | €90,655,124 | €90,200,639 | -€454,486 | -0.5% |
| Amounts receivable | 281 | €41,638,558 | €37,096,255 | -€4.5m | -10.9% |
| Companies linked by participating interests | 282/3 | €13,484,491 | €23,898,606 | +€10.4m | +77.2% |
| Participating interests | 282 | €13,484,491 | €18,660,903 | +€5.2m | +38.4% |
| Amounts receivable | 283 | - | €5,237,704 | +€5.2m | |
| Other financial fixed assets | 284/8 | €13,501,543 | €15,291,926 | +€1.8m | +13.3% |
| Shares | 284 | €10,037,253 | €12,473,101 | +€2.4m | +24.3% |
| Amounts receivable and cash guarantees | 285/8 | €3,464,289 | €2,818,825 | -€645,465 | -18.6% |
| Current assets | 29/58 | €66,680,874 | €68,967,938 | +€2.3m | +3.4% |
| Amounts receivable after more than one year | 29 | €11,144,740 | €4,702,128 | -€6.4m | -57.8% |
| Other amounts receivable | 291 | €11,144,740 | €4,702,128 | -€6.4m | -57.8% |
| Stocks and contracts in progress | 3 | €11,799 | €19,089 | +€7,290 | +61.8% |
| Stocks | 30/36 | €11,799 | €19,089 | +€7,290 | +61.8% |
| Advance payments | 36 | €11,799 | €19,089 | +€7,290 | +61.8% |
| Amounts receivable within one year | 40/41 | €50,855,533 | €57,594,510 | +€6.7m | +13.3% |
| Trade receivables | 40 | €452,676 | €1,417,589 | +€964,913 | +213.2% |
| Other amounts receivable | 41 | €50,402,856 | €56,176,921 | +€5.8m | +11.5% |
| Current investments | 50/53 | €3,000,000 | €2,774,423 | -€225,577 | -7.5% |
| Other investments | 51/53 | €3,000,000 | €2,774,423 | -€225,577 | -7.5% |
| Cash at bank and in hand | 54/58 | €1,001,911 | €3,275,775 | +€2.3m | +227.0% |
| Deferred charges and accrued income | 490/1 | €666,891 | €602,012 | -€64,879 | -9.7% |
| Total equity and liabilities | 10/49 | €226,057,482 | €235,529,928 | +€9.5m | +4.2% |
| Equity | 10/15 | €191,761,268 | €199,294,464 | +€7.5m | +3.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €16,398,664 | €16,398,664 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,087,604 | €182,620,800 | +€7.5m | +4.3% |
| Amounts payable | 17/49 | €34,296,214 | €36,235,464 | +€1.9m | +5.7% |
| Amounts payable after more than one year | 17 | €25,322,789 | €26,891,398 | +€1.6m | +6.2% |
| Financial debts | 170/4 | €962,500 | €412,500 | -€550,000 | -57.1% |
| Credit institutions | 173 | €962,500 | €412,500 | -€550,000 | -57.1% |
| Other amounts payable | 178/9 | €24,360,289 | €26,478,898 | +€2.1m | +8.7% |
| Amounts payable within one year | 42/48 | €8,953,113 | €9,328,123 | +€375,010 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €550,000 | €550,000 | = | 0.0% |
| Trade debts | 44 | €103,840 | €112,314 | +€8,474 | +8.2% |
| Suppliers | 440/4 | €103,840 | €112,314 | +€8,474 | +8.2% |
| Taxes, remuneration and social security | 45 | €902,357 | €904,317 | +€1,960 | +0.2% |
| Taxes | 450/3 | €784,084 | €773,649 | -€10,435 | -1.3% |
| Remuneration and social security | 454/9 | €118,273 | €130,668 | +€12,395 | +10.5% |
| Other amounts payable | 47/48 | €7,396,916 | €7,761,492 | +€364,576 | +4.9% |
| Accrued charges and deferred income | 492/3 | €20,312 | €15,943 | -€4,369 | -21.5% |
| Operating income | 70/76A | €4,518,181 | €1,409,188 | -€3.1m | -68.8% |
| Turnover | 70 | €1,262,084 | €1,409,188 | +€147,104 | +11.7% |
| Other operating income | 74 | €3,256,097 | - | -€3.3m | |
| Operating charges | 60/66A | €2,102,552 | €1,719,803 | -€382,749 | -18.2% |
| Goods for resale, raw materials and consumables | 60 | €142,875 | €144,879 | +€2,005 | +1.4% |
| Purchases | 600/8 | €142,875 | €144,879 | +€2,005 | +1.4% |
| Services and other goods | 61 | €621,961 | €548,775 | -€73,186 | -11.8% |
| Remuneration, social security and pensions | 62 | €877,888 | €864,882 | -€13,006 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,312 | €22,328 | +€16 | +0.1% |
| Other operating charges | 640/8 | €437,516 | €138,939 | -€298,578 | -68.2% |
| Operating profit (loss) | 9901 | €2,415,629 | -€310,615 | -€2.7m | |
| Financial income | 75/76B | €8,492,757 | €10,576,694 | +€2.1m | +24.5% |
| Recurring financial income | 75 | €7,904,912 | €10,576,694 | +€2.7m | +33.8% |
| Income from financial fixed assets | 750 | €2,681,913 | €6,762,763 | +€4.1m | +152.2% |
| Income from current assets | 751 | €5,222,998 | €3,804,388 | -€1.4m | -27.2% |
| Other financial income | 752/9 | €1 | €9,543 | +€9,542 | +944715.8% |
| Non-recurring financial income | 76B | €587,844 | - | -€587,844 | |
| Financial charges | 65/66B | €2,265,538 | €2,471,219 | +€205,681 | +9.1% |
| Recurring financial charges | 65 | €2,265,538 | €2,221,219 | -€44,319 | -2.0% |
| Debt charges | 650 | €2,109,554 | €2,034,636 | -€74,918 | -3.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€5,812,014 | €83,527 | +€5.9m | |
| Other financial charges | 652/9 | €5,967,998 | €103,057 | -€5.9m | -98.3% |
| Non-recurring financial charges | 66B | - | €250,000 | +€250,000 | |
| Profit (loss) for the period before taxes | 9903 | €8,642,848 | €7,794,860 | -€847,987 | -9.8% |
| Income taxes | 67/77 | €325,311 | €261,664 | -€63,647 | -19.6% |
| Taxes | 670/3 | €325,311 | €261,664 | -€63,647 | -19.6% |
| Profit (loss) for the period | 9904 | €8,317,537 | €7,533,196 | -€784,341 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,317,537 | €7,533,196 | -€784,341 | -9.4% |
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 1 October 2026 via checked.be.