SUNSHINE I.E.G.: 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.
SUNSHINE I.E.G.
Largest movements
- Tangible fixed assets +€550,083
up €550,083 (+107.3%), from €512,890 to €1.1m
of which Land and buildings: +€618,897
- Receivables within one year +€94,368
up €94,368 (+549.8%), from €17,165 to €111,533
of which Trade receivables: +€108,431
- Cash -€31,873
down €31,873 (-38.1%), from €83,569 to €51,696
mainly Investment in fixed assets (net) (-€694,832) and Receivables within one year (-€94,368)
- Debts after one year +€480,708
up €480,708 (+152.3%), from €315,567 to €796,275
- Trade debts +€137,120
up €137,120 (+1602.6%), from €8,556 to €145,676
- Short-term financial debts -€19,000
no longer reported in 2025 (was €19,000)
- Current portion of long-term debt -€14,611
down €14,611 (-9.2%), from €158,995 to €144,383
- Depreciation +€36,910
up €36,910 (+34.2%), from €107,839 to €144,749
- Taxes -€20,283
down €20,283 (-99.2%), from €20,453 to €171
- Other operating charges +€15,105
up €15,105 (+85.7%), from €17,623 to €32,728
- Staff costs +€11,622
up €11,622 (+9.6%), from €121,002 to €132,624
- Financial charges +€7,462
up €7,462 (+37.2%), from €20,052 to €27,515
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 | €651,406 | €1,249,374 | +€597,968 | +91.8% |
| Fixed assets | 21/28 | €516,652 | €1,066,735 | +€550,083 | +106.5% |
| Tangible fixed assets | 22/27 | €512,890 | €1,062,973 | +€550,083 | +107.3% |
| Land and buildings | 22 | €222,067 | €840,964 | +€618,897 | +278.7% |
| Plant, machinery and equipment | 23 | €138,948 | €110,684 | -€28,264 | -20.3% |
| Furniture and vehicles | 24 | €151,875 | €111,325 | -€40,551 | -26.7% |
| Financial fixed assets | 28 | €3,762 | €3,762 | = | 0.0% |
| Current assets | 29/58 | €134,754 | €182,639 | +€47,885 | +35.5% |
| Stocks and contracts in progress | 3 | €30,521 | €19,410 | -€11,111 | -36.4% |
| Stocks | 30/36 | €30,521 | €19,410 | -€11,111 | -36.4% |
| Amounts receivable within one year | 40/41 | €17,165 | €111,533 | +€94,368 | +549.8% |
| Trade receivables | 40 | - | €108,431 | +€108,431 | |
| Other amounts receivable | 41 | €17,165 | €3,102 | -€14,063 | -81.9% |
| Cash at bank and in hand | 54/58 | €83,569 | €51,696 | -€31,873 | -38.1% |
| Deferred charges and accrued income | 490/1 | €3,499 | - | -€3,499 | |
| Total equity and liabilities | 10/49 | €651,406 | €1,249,374 | +€597,968 | +91.8% |
| Equity | 10/15 | €109,517 | €118,345 | +€8,828 | +8.1% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Capital | 10 | €81,000 | €81,000 | = | 0.0% |
| Issued capital | 100 | €81,000 | €81,000 | = | 0.0% |
| Reserves | 13 | €16,128 | €16,128 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,100 | €8,100 | = | 0.0% |
| Legal reserve | 130 | €8,100 | €8,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,028 | €8,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,389 | €21,217 | +€8,828 | +71.3% |
| Amounts payable | 17/49 | €541,889 | €1,131,029 | +€589,140 | +108.7% |
| Amounts payable after more than one year | 17 | €315,567 | €796,275 | +€480,708 | +152.3% |
| Financial debts | 170/4 | €315,567 | €796,275 | +€480,708 | +152.3% |
| Amounts payable within one year | 42/48 | €226,321 | €334,754 | +€108,433 | +47.9% |
| Current portion of amounts payable after more than one year | 42 | €158,995 | €144,383 | -€14,611 | -9.2% |
| Financial debts | 43 | €19,000 | - | -€19,000 | |
| Credit institutions | 430/8 | €19,000 | - | -€19,000 | |
| Trade debts | 44 | €8,556 | €145,676 | +€137,120 | +1602.6% |
| Suppliers | 440/4 | €8,556 | €145,676 | +€137,120 | +1602.6% |
| Taxes, remuneration and social security | 45 | €39,770 | €44,694 | +€4,924 | +12.4% |
| Taxes | 450/3 | €28,846 | €28,711 | -€134 | -0.5% |
| Remuneration and social security | 454/9 | €10,925 | €15,983 | +€5,058 | +46.3% |
| Remuneration, social security and pensions | 62 | €121,002 | €132,624 | +€11,622 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,839 | €144,749 | +€36,910 | +34.2% |
| Other operating charges | 640/8 | €17,623 | €32,728 | +€15,105 | +85.7% |
| Gross operating margin | 9900 | €350,731 | €346,563 | -€4,168 | -1.2% |
| Operating profit (loss) | 9901 | €104,265 | €36,461 | -€67,804 | -65.0% |
| Financial income | 75/76B | €806 | €52 | -€754 | -93.6% |
| Recurring financial income | 75 | €806 | €52 | -€754 | -93.6% |
| Financial charges | 65/66B | €20,052 | €27,515 | +€7,462 | +37.2% |
| Recurring financial charges | 65 | €20,052 | €27,515 | +€7,462 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €85,020 | €8,999 | -€76,021 | -89.4% |
| Income taxes | 67/77 | €20,453 | €171 | -€20,283 | -99.2% |
| Profit (loss) for the period | 9904 | €64,566 | €8,828 | -€55,738 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,566 | €8,828 | -€55,738 | -86.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.