SUN BUSINESS: 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.
SUN BUSINESS
Largest movements
- Cash -€62,709
down €62,709 (-73.2%), from €85,661 to €22,952
mainly Other debts (-€105,186) and Trade debts (-€90,575)
- Tangible fixed assets -€38,926
down €38,926 (-3.0%), from €1.3m to €1.2m
of which Land and buildings: -€37,722
- Debts after one year +€125,607
up €125,607 (+12.3%), from €1.0m to €1.1m
- Other debts -€105,186
down €105,186 (-84.0%), from €125,186 to €20,000
- Trade debts -€90,575
down €90,575 (-35.6%), from €254,708 to €164,133
- Profit (loss) carried forward -€30,676
down €30,676 (-54.1%), from -€56,724 to -€87,399
- Gross operating margin -€83,672
down €83,672 (-58.0%), from €144,363 to €60,691
- Financial charges -€14,158
down €14,158 (-21.6%), from €65,481 to €51,323
- Depreciation -€10,220
down €10,220 (-20.8%), from €49,146 to €38,926
- Taxes -€7,211
down €7,211 (-100%), from €7,211 to €0
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 | €1,457,792 | €1,351,949 | -€105,844 | -7.3% |
| Fixed assets | 21/28 | €1,279,678 | €1,240,752 | -€38,926 | -3.0% |
| Tangible fixed assets | 22/27 | €1,279,678 | €1,240,752 | -€38,926 | -3.0% |
| Land and buildings | 22 | €1,276,976 | €1,239,254 | -€37,722 | -3.0% |
| Furniture and vehicles | 24 | €2,702 | €1,498 | -€1,203 | -44.5% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €178,115 | €111,197 | -€66,918 | -37.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €88,825 | €84,465 | -€4,360 | -4.9% |
| Trade receivables | 40 | €70,098 | €53,077 | -€17,021 | -24.3% |
| Other amounts receivable | 41 | €18,728 | €31,389 | +€12,661 | +67.6% |
| Cash at bank and in hand | 54/58 | €85,661 | €22,952 | -€62,709 | -73.2% |
| Deferred charges and accrued income | 490/1 | €3,628 | €3,779 | +€151 | +4.2% |
| Total equity and liabilities | 10/49 | €1,457,792 | €1,351,949 | -€105,844 | -7.3% |
| Equity | 10/15 | -€26,724 | -€57,399 | -€30,676 | -115% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€56,724 | -€87,399 | -€30,676 | -54.1% |
| Amounts payable | 17/49 | €1,484,516 | €1,409,348 | -€75,168 | -5.1% |
| Amounts payable after more than one year | 17 | €1,019,656 | €1,145,263 | +€125,607 | +12.3% |
| Financial debts | 170/4 | €1,019,656 | €1,145,263 | +€125,607 | +12.3% |
| Amounts payable within one year | 42/48 | €452,604 | €262,202 | -€190,402 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €70,500 | €78,040 | +€7,540 | +10.7% |
| Trade debts | 44 | €254,708 | €164,133 | -€90,575 | -35.6% |
| Suppliers | 440/4 | €254,708 | €164,133 | -€90,575 | -35.6% |
| Taxes, remuneration and social security | 45 | €2,211 | €29 | -€2,182 | -98.7% |
| Taxes | 450/3 | €2,211 | €29 | -€2,182 | -98.7% |
| Other amounts payable | 47/48 | €125,186 | €20,000 | -€105,186 | -84.0% |
| Accrued charges and deferred income | 492/3 | €12,256 | €1,883 | -€10,373 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,146 | €38,926 | -€10,220 | -20.8% |
| Other operating charges | 640/8 | €1,192 | €1,118 | -€73 | -6.2% |
| Non-recurring operating charges | 66A | €106,114 | €0 | -€106,114 | -100% |
| Gross operating margin | 9900 | €144,363 | €60,691 | -€83,672 | -58.0% |
| Operating profit (loss) | 9901 | -€12,089 | €20,647 | +€32,736 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +5,400% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5,400% |
| Financial charges | 65/66B | €65,481 | €51,323 | -€14,158 | -21.6% |
| Recurring financial charges | 65 | €65,481 | €51,323 | -€14,158 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | -€77,570 | -€30,676 | +€46,895 | +60.5% |
| Income taxes | 67/77 | €7,211 | €0 | -€7,211 | -100% |
| Profit (loss) for the period | 9904 | -€84,781 | -€30,676 | +€54,105 | +63.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,781 | -€30,676 | +€54,105 | +63.8% |
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 15 October 2026 via checked.be.