Sundo: 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.
Sundo
Largest movements
- Stocks and contracts +€247,432
up €247,432 (+67.6%), from €366,021 to €613,453
- Cash -€190,359
down €190,359 (-68.8%), from €276,653 to €86,295
mainly Stocks and contracts (-€247,432) and Receivables within one year (-€140,803)
- Receivables within one year +€140,803
up €140,803 (+203.9%), from €69,055 to €209,858
of which Trade receivables: +€123,651
- Reserves +€112,366
up €112,366 (+248.9%), from €45,148 to €157,515
- Short-term financial debts +€100,000
new in 2025: €100,000
- Trade debts -€10,099
down €10,099 (-14.4%), from €70,061 to €59,963
- Staff costs +€104,365
up €104,365 (+108.8%), from €95,884 to €200,250
- Taxes +€19,201
up €19,201 (+108.2%), from €17,751 to €36,953
- Other operating charges +€8,778
up €8,778 (+211.4%), from €4,152 to €12,931
- Gross operating margin +€6,550
up €6,550 (+1.7%), from €392,592 to €399,142
- Financial income -€4,696
down €4,696 (-99.8%), from €4,705 to €9
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 | €752,886 | €948,853 | +€195,967 | +26.0% |
| Fixed assets | 21/28 | €25,956 | €29,802 | +€3,846 | +14.8% |
| Intangible fixed assets | 21 | €12,197 | €14,361 | +€2,164 | +17.7% |
| Tangible fixed assets | 22/27 | €12,059 | €13,650 | +€1,591 | +13.2% |
| Plant, machinery and equipment | 23 | €5,685 | €5,275 | -€410 | -7.2% |
| Furniture and vehicles | 24 | €6,374 | €5,935 | -€439 | -6.9% |
| Other tangible fixed assets | 26 | - | €2,439 | +€2,439 | |
| Financial fixed assets | 28 | €1,700 | €1,790 | +€90 | +5.3% |
| Current assets | 29/58 | €726,931 | €919,052 | +€192,121 | +26.4% |
| Stocks and contracts in progress | 3 | €366,021 | €613,453 | +€247,432 | +67.6% |
| Stocks | 30/36 | €366,021 | €613,453 | +€247,432 | +67.6% |
| Amounts receivable within one year | 40/41 | €69,055 | €209,858 | +€140,803 | +203.9% |
| Trade receivables | 40 | €43,040 | €166,692 | +€123,651 | +287.3% |
| Other amounts receivable | 41 | €26,014 | €43,167 | +€17,152 | +65.9% |
| Cash at bank and in hand | 54/58 | €276,653 | €86,295 | -€190,359 | -68.8% |
| Deferred charges and accrued income | 490/1 | €15,201 | €9,446 | -€5,755 | -37.9% |
| Total equity and liabilities | 10/49 | €752,886 | €948,853 | +€195,967 | +26.0% |
| Equity | 10/15 | €60,148 | €172,515 | +€112,366 | +186.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €45,148 | €157,515 | +€112,366 | +248.9% |
| Distributable reserves | 133 | €45,148 | €157,515 | +€112,366 | +248.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €692,738 | €776,339 | +€83,601 | +12.1% |
| Amounts payable after more than one year | 17 | €560,368 | €560,000 | -€368 | -0.1% |
| Financial debts | 170/4 | €560,368 | €560,000 | -€368 | -0.1% |
| Amounts payable within one year | 42/48 | €125,170 | €211,641 | +€86,471 | +69.1% |
| Current portion of amounts payable after more than one year | 42 | €4,355 | €368 | -€3,986 | -91.5% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €70,061 | €59,963 | -€10,099 | -14.4% |
| Suppliers | 440/4 | €70,061 | €59,963 | -€10,099 | -14.4% |
| Advances received on contracts in progress | 46 | €2,980 | €0 | -€2,980 | -100.0% |
| Taxes, remuneration and social security | 45 | €47,224 | €50,734 | +€3,509 | +7.4% |
| Taxes | 450/3 | €21,578 | €5,291 | -€16,287 | -75.5% |
| Remuneration and social security | 454/9 | €25,647 | €45,443 | +€19,796 | +77.2% |
| Other amounts payable | 47/48 | €550 | €577 | +€27 | +4.8% |
| Accrued charges and deferred income | 492/3 | €7,200 | €4,698 | -€2,502 | -34.8% |
| Remuneration, social security and pensions | 62 | €95,884 | €200,250 | +€104,365 | +108.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,544 | €13,275 | -€1,269 | -8.7% |
| Other operating charges | 640/8 | €4,152 | €12,931 | +€8,778 | +211.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €392,592 | €399,142 | +€6,550 | +1.7% |
| Operating profit (loss) | 9901 | €278,011 | €172,687 | -€105,324 | -37.9% |
| Financial income | 75/76B | €4,705 | €9 | -€4,696 | -99.8% |
| Recurring financial income | 75 | €4,705 | €9 | -€4,696 | -99.8% |
| Financial charges | 65/66B | €21,097 | €23,376 | +€2,279 | +10.8% |
| Recurring financial charges | 65 | €21,097 | €23,376 | +€2,279 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €261,619 | €149,319 | -€112,300 | -42.9% |
| Income taxes | 67/77 | €17,751 | €36,953 | +€19,201 | +108.2% |
| Profit (loss) for the period | 9904 | €243,868 | €112,366 | -€131,502 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €243,868 | €112,366 | -€131,502 | -53.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.