SUNPACK: 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.
SUNPACK
Largest movements
- Tangible fixed assets -€280,820
down €280,820 (-19.3%), from €1.5m to €1.2m
of which Leasing and similar rights: -€1.5m
- Cash -€136,827
down €136,827 (-78.2%), from €174,871 to €38,044
mainly Short-term financial debts (-€565,000) and Current portion of long-term debt (-€212,132)
- Receivables within one year -€33,313
down €33,313 (-60.9%), from €54,665 to €21,351
- Short-term financial debts -€565,000
down €565,000 (-74.3%), from €760,000 to €195,000
- Profit (loss) carried forward +€356,067
up €356,067 (+144.9%), from €245,684 to €601,751
- Current portion of long-term debt -€212,132
no longer reported in 2025 (was €212,132)
- Trade debts -€25,015
down €25,015 (-67.7%), from €36,947 to €11,932
- Gross operating margin +€197,036
up €197,036 (+32.2%), from €611,891 to €808,927
- Taxes +€43,228
up €43,228 (+60.6%), from €71,368 to €114,596
- Financial income -€41,467
down €41,467 (-79.4%), from €52,239 to €10,771
- Other operating charges -€29,505
down €29,505 (-76.7%), from €38,456 to €8,952
- Financial charges +€9,711
up €9,711 (+58.1%), from €16,701 to €26,412
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 | €1,681,900 | €1,230,940 | -€450,961 | -26.8% |
| Fixed assets | 21/28 | €1,452,365 | €1,171,545 | -€280,820 | -19.3% |
| Tangible fixed assets | 22/27 | €1,452,365 | €1,171,545 | -€280,820 | -19.3% |
| Plant, machinery and equipment | 23 | - | €1,171,545 | +€1.2m | |
| Leasing and similar rights | 25 | €1,452,365 | - | -€1.5m | |
| Current assets | 29/58 | €229,535 | €59,395 | -€170,140 | -74.1% |
| Amounts receivable within one year | 40/41 | €54,665 | €21,351 | -€33,313 | -60.9% |
| Trade receivables | 40 | €54,665 | €21,351 | -€33,313 | -60.9% |
| Cash at bank and in hand | 54/58 | €174,871 | €38,044 | -€136,827 | -78.2% |
| Total equity and liabilities | 10/49 | €1,681,900 | €1,230,940 | -€450,961 | -26.8% |
| Equity | 10/15 | €626,506 | €971,802 | +€345,296 | +55.1% |
| Contributions | 10/11 | €291,941 | €291,941 | = | 0.0% |
| Capital | 10 | €291,941 | €291,941 | = | 0.0% |
| Issued capital | 100 | €291,941 | €291,941 | = | 0.0% |
| Reserves | 13 | €38,832 | €38,832 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,832 | €38,832 | = | 0.0% |
| Legal reserve | 130 | €38,832 | €38,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,684 | €601,751 | +€356,067 | +144.9% |
| Investment grants | 15 | €50,050 | €39,279 | -€10,771 | -21.5% |
| Provisions and deferred taxes | 16 | €36,941 | €32,322 | -€4,619 | -12.5% |
| Deferred taxes | 168 | €36,941 | €32,322 | -€4,619 | -12.5% |
| Amounts payable | 17/49 | €1,018,453 | €226,815 | -€791,637 | -77.7% |
| Amounts payable within one year | 42/48 | €1,011,209 | €224,508 | -€786,702 | -77.8% |
| Current portion of amounts payable after more than one year | 42 | €212,132 | - | -€212,132 | |
| Financial debts | 43 | €760,000 | €195,000 | -€565,000 | -74.3% |
| Other loans | 439 | €760,000 | €195,000 | -€565,000 | -74.3% |
| Trade debts | 44 | €36,947 | €11,932 | -€25,015 | -67.7% |
| Suppliers | 440/4 | €36,947 | €11,932 | -€25,015 | -67.7% |
| Taxes, remuneration and social security | 45 | €2,130 | €17,576 | +€15,446 | +725.1% |
| Taxes | 450/3 | €2,130 | €17,576 | +€15,446 | +725.1% |
| Accrued charges and deferred income | 492/3 | €7,244 | €2,308 | -€4,936 | -68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €312,567 | €318,290 | +€5,723 | +1.8% |
| Other operating charges | 640/8 | €38,456 | €8,952 | -€29,505 | -76.7% |
| Gross operating margin | 9900 | €611,891 | €808,927 | +€197,036 | +32.2% |
| Operating profit (loss) | 9901 | €260,868 | €481,685 | +€220,817 | +84.6% |
| Financial income | 75/76B | €52,239 | €10,771 | -€41,467 | -79.4% |
| Recurring financial income | 75 | €52,239 | €10,771 | -€41,467 | -79.4% |
| Financial charges | 65/66B | €16,701 | €26,412 | +€9,711 | +58.1% |
| Recurring financial charges | 65 | €16,701 | €26,412 | +€9,711 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | €296,405 | €466,045 | +€169,639 | +57.2% |
| Transfer from deferred taxes | 780 | €4,619 | €4,619 | = | 0.0% |
| Income taxes | 67/77 | €71,368 | €114,596 | +€43,228 | +60.6% |
| Profit (loss) for the period | 9904 | €229,656 | €356,067 | +€126,411 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €229,656 | €356,067 | +€126,411 | +55.0% |
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 29 September 2026 via checked.be.