SUNFIN: 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.
SUNFIN
Largest movements
- Tangible fixed assets -€2.4m
down €2.4m (-80.5%), from €2.9m to €574,302
of which Plant, machinery and equipment: -€2.3m
- Current investments +€650,000
up €650,000 (+216.7%), from €300,000 to €950,000
- Cash -€181,257
down €181,257 (-86.0%), from €210,750 to €29,493
mainly Debts after one year (-€1.9m) and Current investments (-€650,000)
- Receivables within one year -€149,134
down €149,134 (-24.8%), from €600,318 to €451,184
of which Trade receivables: -€153,502
- Receivables after one year -€124,884
down €124,884 (-3.0%), from €4.1m to €4.0m
- Debts after one year -€1.9m
down €1.9m (-34.6%), from €5.6m to €3.7m
- Trade debts -€244,849
down €244,849 (-83.4%), from €293,655 to €48,806
- Tax, wage and social debts -€163,715
no longer reported in 2025 (was €163,715)
- Reserves +€152,671
up €152,671 (+19.0%), from €805,627 to €958,298
- Depreciation -€101,072
down €101,072 (-68.5%), from €147,560 to €46,488
- Financial charges -€41,189
down €41,189 (-22.3%), from €184,833 to €143,644
- Taxes +€30,036
up €30,036 (+126.4%), from €23,755 to €53,790
- Financial income +€17,229
up €17,229 (+18.1%), from €95,054 to €112,283
- Gross operating margin -€10,024
down €10,024 (-3.2%), from €316,323 to €306,300
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 | €8,574,268 | €6,292,098 | -€2.3m | -26.6% |
| Formation expenses | 20 | €515 | - | -€515 | |
| Fixed assets | 21/28 | €3,040,773 | €665,302 | -€2.4m | -78.1% |
| Intangible fixed assets | 21 | €97,330 | €91,001 | -€6,329 | -6.5% |
| Tangible fixed assets | 22/27 | €2,943,444 | €574,302 | -€2.4m | -80.5% |
| Plant, machinery and equipment | 23 | €2,846,450 | €574,302 | -€2.3m | -79.8% |
| Assets under construction and advance payments | 27 | €96,994 | - | -€96,994 | |
| Current assets | 29/58 | €5,532,979 | €5,626,796 | +€93,817 | +1.7% |
| Amounts receivable after more than one year | 29 | €4,130,442 | €4,005,558 | -€124,884 | -3.0% |
| Other amounts receivable | 291 | €4,130,442 | €4,005,558 | -€124,884 | -3.0% |
| Stocks and contracts in progress | 3 | €280,391 | €178,797 | -€101,593 | -36.2% |
| Contracts in progress | 37 | €280,391 | €178,797 | -€101,593 | -36.2% |
| Amounts receivable within one year | 40/41 | €600,318 | €451,184 | -€149,134 | -24.8% |
| Trade receivables | 40 | €230,354 | €76,852 | -€153,502 | -66.6% |
| Other amounts receivable | 41 | €369,964 | €374,332 | +€4,368 | +1.2% |
| Current investments | 50/53 | €300,000 | €950,000 | +€650,000 | +216.7% |
| Cash at bank and in hand | 54/58 | €210,750 | €29,493 | -€181,257 | -86.0% |
| Deferred charges and accrued income | 490/1 | €11,079 | €11,763 | +€685 | +6.2% |
| Total equity and liabilities | 10/49 | €8,574,268 | €6,292,098 | -€2.3m | -26.6% |
| Equity | 10/15 | €1,425,832 | €1,598,530 | +€172,697 | +12.1% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €805,627 | €958,298 | +€152,671 | +19.0% |
| Distributable reserves | 133 | €805,627 | €958,298 | +€152,671 | +19.0% |
| Profit (loss) carried forward | 14 | €120,205 | €140,231 | +€20,026 | +16.7% |
| Amounts payable | 17/49 | €7,148,436 | €4,693,569 | -€2.5m | -34.3% |
| Amounts payable after more than one year | 17 | €5,592,541 | €3,654,837 | -€1.9m | -34.6% |
| Financial debts | 170/4 | €5,592,541 | €3,654,837 | -€1.9m | -34.6% |
| Amounts payable within one year | 42/48 | €847,001 | €353,400 | -€493,601 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €301,540 | €241,001 | -€60,539 | -20.1% |
| Trade debts | 44 | €293,655 | €48,806 | -€244,849 | -83.4% |
| Suppliers | 440/4 | €293,655 | €48,806 | -€244,849 | -83.4% |
| Advances received on contracts in progress | 46 | €88,091 | €63,594 | -€24,497 | -27.8% |
| Taxes, remuneration and social security | 45 | €163,715 | - | -€163,715 | |
| Taxes | 450/3 | €163,715 | - | -€163,715 | |
| Accrued charges and deferred income | 492/3 | €708,894 | €685,331 | -€23,562 | -3.3% |
| Non-recurring operating income | 76A | €1,977 | €144,617 | +€142,639 | +7213.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,560 | €46,488 | -€101,072 | -68.5% |
| Other operating charges | 640/8 | €2,902 | €1,963 | -€938 | -32.3% |
| Gross operating margin | 9900 | €316,323 | €306,300 | -€10,024 | -3.2% |
| Operating profit (loss) | 9901 | €165,862 | €257,848 | +€91,987 | +55.5% |
| Financial income | 75/76B | €95,054 | €112,283 | +€17,229 | +18.1% |
| Recurring financial income | 75 | €95,054 | €112,283 | +€17,229 | +18.1% |
| Financial charges | 65/66B | €184,833 | €143,644 | -€41,189 | -22.3% |
| Recurring financial charges | 65 | €184,833 | €143,644 | -€41,189 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €76,083 | €226,488 | +€150,405 | +197.7% |
| Income taxes | 67/77 | €23,755 | €53,790 | +€30,036 | +126.4% |
| Profit (loss) for the period | 9904 | €52,328 | €172,697 | +€120,369 | +230.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,328 | €172,697 | +€120,369 | +230.0% |
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 4 October 2026 via checked.be.