Sun Partners: 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 Partners
Largest movements
- Tangible fixed assets +€141,849
up €141,849 (+120%), from €117,763 to €259,612
of which Land and buildings: +€136,285
- Stocks and contracts +€31,653
up €31,653 (+244%), from €12,964 to €44,617
- Receivables within one year +€28,041
up €28,041 (+455%), from €6,159 to €34,200
of which Other amounts receivable: +€29,386
- Cash +€11,387
up €11,387 (+98.9%), from €11,515 to €22,902
mainly Debts after one year (+€120,000) and Net result for the year (+€52,811)
- Intangible fixed assets +€5,342
new in 2025: €5,342
- Debts after one year +€120,000
new in 2025: €120,000
- Reserves +€52,811
up €52,811 (+24.5%), from €215,352 to €268,163
- Trade debts +€19,288
up €19,288 (+186%), from €10,361 to €29,649
- Tax, wage and social debts +€17,383
up €17,383 (+51.3%), from €33,855 to €51,238
of which Taxes: +€15,854
- Current portion of long-term debt +€8,113
new in 2025: €8,113
- Staff costs -€61,595
down €61,595 (-26.2%), from €234,801 to €173,206
- Depreciation +€37,605
up €37,605 (+2,249%), from €1,672 to €39,277
- Gross operating margin +€17,405
up €17,405 (+6.3%), from €274,474 to €291,879
- Taxes +€13,041
up €13,041 (+136%), from €9,624 to €22,665
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 | €280,028 | €500,329 | +€220,301 | +78.7% |
| Fixed assets | 21/28 | €118,843 | €266,034 | +€147,191 | +124% |
| Intangible fixed assets | 21 | - | €5,342 | +€5,342 | |
| Tangible fixed assets | 22/27 | €117,763 | €259,612 | +€141,849 | +120% |
| Land and buildings | 22 | €86,471 | €222,756 | +€136,285 | +158% |
| Plant, machinery and equipment | 23 | €29,983 | €35,826 | +€5,843 | +19.5% |
| Furniture and vehicles | 24 | €1,309 | €1,030 | -€279 | -21.3% |
| Financial fixed assets | 28 | €1,080 | €1,080 | = | 0.0% |
| Current assets | 29/58 | €161,185 | €234,295 | +€73,110 | +45.4% |
| Stocks and contracts in progress | 3 | €12,964 | €44,617 | +€31,653 | +244% |
| Stocks | 30/36 | €12,964 | €44,617 | +€31,653 | +244% |
| Amounts receivable within one year | 40/41 | €6,159 | €34,200 | +€28,041 | +455% |
| Trade receivables | 40 | €4,855 | €3,510 | -€1,345 | -27.7% |
| Other amounts receivable | 41 | €1,304 | €30,690 | +€29,386 | +2,254% |
| Current investments | 50/53 | €130,547 | €131,852 | +€1,305 | +1.0% |
| Cash at bank and in hand | 54/58 | €11,515 | €22,902 | +€11,387 | +98.9% |
| Deferred charges and accrued income | 490/1 | - | €724 | +€724 | |
| Total equity and liabilities | 10/49 | €280,028 | €500,329 | +€220,301 | +78.7% |
| Equity | 10/15 | €235,812 | €288,623 | +€52,811 | +22.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €215,352 | €268,163 | +€52,811 | +24.5% |
| Distributable reserves | 133 | €215,352 | €268,163 | +€52,811 | +24.5% |
| Amounts payable | 17/49 | €44,216 | €211,706 | +€167,490 | +379% |
| Amounts payable after more than one year | 17 | - | €120,000 | +€120,000 | |
| Financial debts | 170/4 | - | €120,000 | +€120,000 | |
| Amounts payable within one year | 42/48 | €44,216 | €91,706 | +€47,490 | +107% |
| Current portion of amounts payable after more than one year | 42 | - | €8,113 | +€8,113 | |
| Trade debts | 44 | €10,361 | €29,649 | +€19,288 | +186% |
| Suppliers | 440/4 | €10,361 | €29,649 | +€19,288 | +186% |
| Taxes, remuneration and social security | 45 | €33,855 | €51,238 | +€17,383 | +51.3% |
| Taxes | 450/3 | €5,958 | €21,812 | +€15,854 | +266% |
| Remuneration and social security | 454/9 | €27,897 | €29,426 | +€1,529 | +5.5% |
| Other amounts payable | 47/48 | - | €2,706 | +€2,706 | |
| Remuneration, social security and pensions | 62 | €234,801 | €173,206 | -€61,595 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,672 | €39,277 | +€37,605 | +2,249% |
| Other operating charges | 640/8 | €2,868 | €2,086 | -€782 | -27.3% |
| Gross operating margin | 9900 | €274,474 | €291,879 | +€17,405 | +6.3% |
| Operating profit (loss) | 9901 | €35,133 | €77,310 | +€42,177 | +120% |
| Financial income | 75/76B | €1,387 | €1,924 | +€537 | +38.7% |
| Recurring financial income | 75 | €1,387 | €1,924 | +€537 | +38.7% |
| Financial charges | 65/66B | €1,193 | €3,758 | +€2,565 | +215% |
| Recurring financial charges | 65 | €1,193 | €3,758 | +€2,565 | +215% |
| Profit (loss) for the period before taxes | 9903 | €35,327 | €75,476 | +€40,149 | +114% |
| Income taxes | 67/77 | €9,624 | €22,665 | +€13,041 | +136% |
| Profit (loss) for the period | 9904 | €25,703 | €52,811 | +€27,108 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €25,703 | €52,811 | +€27,108 | +105% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.