SUMRESEARCH: what changed
SUMRESEARCH
Largest movements
- Receivables within one year +€108,901
up €108,901 (+43.8%), from €248,497 to €357,398
of which Other amounts receivable: +€238,494
- Tax, wage and social debts +€131,388
up €131,388 (+67.8%), from €193,684 to €325,072
of which Taxes: +€104,059
- Other debts -€48,640
down €48,640 (-100%), from €48,640 to €0
- Trade debts +€25,926
up €25,926 (+558%), from €4,648 to €30,574
- Other operating charges +€205,900
up €205,900 (+26,656%), from €772 to €206,673
- Write-downs -€187,208
new in 2025: -€187,208
- Gross operating margin +€40,573
up €40,573 (+19.3%), from €210,331 to €250,903
- Financial charges +€30,933
up €30,933 (+194%), from €15,926 to €46,859
- Staff costs -€8,276
down €8,276 (-4.3%), from €192,668 to €184,392
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,083 | €357,978 | +€108,895 | +43.7% |
| Current assets | 29/58 | €249,083 | €357,978 | +€108,895 | +43.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €248,497 | €357,398 | +€108,901 | +43.8% |
| Trade receivables | 40 | €248,497 | €118,904 | -€129,593 | -52.2% |
| Other amounts receivable | 41 | €0 | €238,494 | +€238,494 | |
| Deferred charges and accrued income | 490/1 | €586 | €580 | -€6 | -1.1% |
| Total equity and liabilities | 10/49 | €249,083 | €357,978 | +€108,895 | +43.7% |
| Equity | 10/15 | €2,084 | €2,333 | +€249 | +12.0% |
| Contributions | 10/11 | €409,024 | €409,024 | = | 0.0% |
| Capital | 10 | €409,024 | €409,024 | = | 0.0% |
| Issued capital | 100 | €409,024 | €409,024 | = | 0.0% |
| Reserves | 13 | €5,330 | €5,330 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,330 | €5,330 | = | 0.0% |
| Legal reserve | 130 | €5,330 | €5,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€412,271 | -€412,022 | +€249 | +0.1% |
| Amounts payable | 17/49 | €247,000 | €355,646 | +€108,646 | +44.0% |
| Amounts payable within one year | 42/48 | €246,972 | €355,646 | +€108,674 | +44.0% |
| Trade debts | 44 | €4,648 | €30,574 | +€25,926 | +558% |
| Suppliers | 440/4 | €4,648 | €30,574 | +€25,926 | +558% |
| Taxes, remuneration and social security | 45 | €193,684 | €325,072 | +€131,388 | +67.8% |
| Taxes | 450/3 | €129,498 | €233,557 | +€104,059 | +80.4% |
| Remuneration and social security | 454/9 | €64,185 | €91,515 | +€27,330 | +42.6% |
| Other amounts payable | 47/48 | €48,640 | €0 | -€48,640 | -100% |
| Accrued charges and deferred income | 492/3 | €28 | €0 | -€28 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €192,668 | €184,392 | -€8,276 | -4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€187,208 | -€187,208 | |
| Other operating charges | 640/8 | €772 | €206,673 | +€205,900 | +26,656% |
| Gross operating margin | 9900 | €210,331 | €250,903 | +€40,573 | +19.3% |
| Operating profit (loss) | 9901 | €16,890 | €47,047 | +€30,157 | +179% |
| Financial income | 75/76B | €0 | €61 | +€61 | |
| Recurring financial income | 75 | €0 | €61 | +€61 | |
| Financial charges | 65/66B | €15,926 | €46,859 | +€30,933 | +194% |
| Recurring financial charges | 65 | €15,926 | €46,859 | +€30,933 | +194% |
| Profit (loss) for the period before taxes | 9903 | €964 | €249 | -€715 | -74.2% |
| Profit (loss) for the period | 9904 | €964 | €249 | -€715 | -74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €964 | €249 | -€715 | -74.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.