SUNSHINE: 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.
SUNSHINE
Largest movements
- Financial fixed assets -€2.0m
down €2.0m (-83.0%), from €2.4m to €406,074
- Receivables after one year +€731,307
up €731,307 (+1826.5%), from €40,039 to €771,346
of which Other amounts receivable: +€770,000
- Tangible fixed assets -€39,711
down €39,711 (-11.5%), from €346,455 to €306,744
- Receivables within one year -€36,192
no longer reported in 2025 (was €36,192)
- Other debts -€1.5m
no longer reported in 2025 (was €1.5m)
- Reserves +€121,591
up €121,591 (+22.8%), from €532,196 to €653,787
of which Distributable reserves: +€121,591
- Short-term financial debts +€38,627
new in 2025: €38,627
- Purchases and services -€88,262
no longer reported in 2025 (was €88,262)
- Gross operating margin -€65,528
down €65,528 (-24.3%), from €269,320 to €203,792
- Turnover -€57,757
down €57,757 (-13.9%), from €414,222 to €356,465
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 | €2,823,668 | €1,486,442 | -€1.3m | -47.4% |
| Fixed assets | 21/28 | €2,740,837 | €712,818 | -€2.0m | -74.0% |
| Tangible fixed assets | 22/27 | €346,455 | €306,744 | -€39,711 | -11.5% |
| Land and buildings | 22 | €289,775 | €276,160 | -€13,615 | -4.7% |
| Plant, machinery and equipment | 23 | €42,920 | €23,868 | -€19,052 | -44.4% |
| Furniture and vehicles | 24 | €13,760 | €6,716 | -€7,044 | -51.2% |
| Financial fixed assets | 28 | €2,394,382 | €406,074 | -€2.0m | -83.0% |
| Current assets | 29/58 | €82,831 | €773,624 | +€690,793 | +834.0% |
| Amounts receivable after more than one year | 29 | €40,039 | €771,346 | +€731,307 | +1826.5% |
| Trade receivables | 290 | €40,039 | €1,346 | -€38,693 | -96.6% |
| Other amounts receivable | 291 | - | €770,000 | +€770,000 | |
| Amounts receivable within one year | 40/41 | €36,192 | - | -€36,192 | |
| Other amounts receivable | 41 | €36,192 | - | -€36,192 | |
| Cash at bank and in hand | 54/58 | €6,600 | €2,278 | -€4,322 | -65.5% |
| Total equity and liabilities | 10/49 | €2,823,668 | €1,486,442 | -€1.3m | -47.4% |
| Equity | 10/15 | €1,292,119 | €1,413,710 | +€121,591 | +9.4% |
| Contributions | 10/11 | €745,430 | €745,430 | = | 0.0% |
| Capital | 10 | €745,430 | €745,430 | = | 0.0% |
| Issued capital | 100 | €745,430 | €745,430 | = | 0.0% |
| Reserves | 13 | €532,196 | €653,787 | +€121,591 | +22.8% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Distributable reserves | 133 | €507,407 | €628,998 | +€121,591 | +24.0% |
| Profit (loss) carried forward | 14 | €14,493 | €14,493 | = | 0.0% |
| Amounts payable | 17/49 | €1,531,549 | €72,732 | -€1.5m | -95.3% |
| Amounts payable within one year | 42/48 | €1,531,549 | €72,732 | -€1.5m | -95.3% |
| Financial debts | 43 | - | €38,627 | +€38,627 | |
| Other loans | 439 | - | €38,627 | +€38,627 | |
| Trade debts | 44 | €9,656 | €20,206 | +€10,550 | +109.3% |
| Suppliers | 440/4 | €9,656 | €20,206 | +€10,550 | +109.3% |
| Taxes, remuneration and social security | 45 | €17,311 | €13,899 | -€3,412 | -19.7% |
| Taxes | 450/3 | €17,311 | €13,899 | -€3,412 | -19.7% |
| Other amounts payable | 47/48 | €1,504,582 | - | -€1.5m | |
| Turnover | 70 | €414,222 | €356,465 | -€57,757 | -13.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €88,262 | - | -€88,262 | |
| Remuneration, social security and pensions | 62 | €6,036 | €3,036 | -€3,000 | -49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,712 | €39,712 | = | 0.0% |
| Other operating charges | 640/8 | €3,687 | €4,259 | +€572 | +15.5% |
| Gross operating margin | 9900 | €269,320 | €203,792 | -€65,528 | -24.3% |
| Operating profit (loss) | 9901 | €219,885 | €156,785 | -€63,100 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €219,885 | €156,785 | -€63,100 | -28.7% |
| Profit (loss) for the period | 9904 | €219,885 | €156,785 | -€63,100 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €219,885 | €156,785 | -€63,100 | -28.7% |
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 10 October 2026 via checked.be.