SUNWEST: 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.
What changed
SUNWEST
NACE 66.300, Activities auxiliary to financial services and insurance activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€12,049
2024 · -€9,186+€21,235
Equity
€1.9m
2024 · €2.6m-€715,253
Cash
-
2024 · €0
Balance sheet total
€2.8m
2024 · €3.3m-€567,653
Largest movements
Assets
- Tangible fixed assets -€573,846
down €573,846 (-18.0%), from €3.2m to €2.6m
of which Land and buildings: -€565,596
Equity and liabilities
- Reserves -€461,123
down €461,123 (-38.2%), from €1.2m to €747,495
of which Tax-exempt reserves: -€243,317
- Revaluation surpluses -€253,824
down €253,824 (-19.3%), from €1.3m to €1.1m
- Short-term financial debts +€200,339
up €200,339 (+403.9%), from €49,598 to €249,937
- Tax, wage and social debts +€139,481
up €139,481 (+4275.5%), from €3,262 to €142,743
- Current portion of long-term debt -€95,466
down €95,466 (-41.1%), from €232,337 to €136,871
Income statement
- Taxes +€136,598
up €136,598 (+4445.7%), from €3,073 to €139,671
- Gross operating margin +€83,809
up €83,809 (+81.4%), from €102,911 to €186,720
- Depreciation +€11,639
up €11,639 (+15.0%), from €77,726 to €89,364
- Financial income -€2,774
down €2,774 (-100.0%), from €2,774 to €0
of which Non-recurring financial income: -€2,587
- Financial charges +€2,190
up €2,190 (+13.4%), from €16,288 to €18,479
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.
Result 2024
-€9,186
Gross operating margin
+€83,809
Depreciation
-€11,639
Other operating charges
-€638
Other operating items
+€7,605
Financial income
-€2,774
Financial charges
-€2,190
Taxes
-€136,598
Deferred taxes and other
+€83,661
Result 2025
€12,049
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.
From operations
+€191,204
Investment
+€507,813
Financing
-€699,017
Cash 2024
€0
From operations (derived)
+€191,204
Net result for the year
+€12,049
Depreciation
+€89,364
Receivables within one year
-€32,776
Deferred charges and accrued income
+€3,252
Provisions
-€88,086
Trade debts
+€20,966
Tax, wage and social debts
+€139,481
Other debts
+€51,639
Accrued charges and deferred income
-€4,684
Investment (derived)
+€507,813
Investment in fixed assets (net)
+€507,813
Financing
-€699,017
Debts after one year
-€76,588
Current portion of long-term debt
-€95,466
Short-term financial debts
+€200,339
Contributions, distributions and other
-€727,303
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,331,316 | €2,763,663 | -€567,653 | -17.0% |
| Fixed assets | 21/28 | €3,307,072 | €2,709,895 | -€597,177 | -18.1% |
| Intangible fixed assets | 21 | €116,147 | €92,816 | -€23,332 | -20.1% |
| Tangible fixed assets | 22/27 | €3,190,925 | €2,617,079 | -€573,846 | -18.0% |
| Land and buildings | 22 | €3,179,013 | €2,613,418 | -€565,596 | -17.8% |
| Furniture and vehicles | 24 | €11,912 | €3,662 | -€8,250 | -69.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €24,244 | €53,768 | +€29,524 | +121.8% |
| Amounts receivable within one year | 40/41 | €18,946 | €51,721 | +€32,776 | +173.0% |
| Trade receivables | 40 | €11,844 | €11,844 | = | 0.0% |
| Other amounts receivable | 41 | €7,102 | €39,877 | +€32,776 | +461.5% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €5,298 | €2,046 | -€3,252 | -61.4% |
| Total equity and liabilities | 10/49 | €3,331,316 | €2,763,663 | -€567,653 | -17.0% |
| Equity | 10/15 | €2,595,481 | €1,880,227 | -€715,253 | -27.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,311,960 | €1,058,136 | -€253,824 | -19.3% |
| Reserves | 13 | €1,208,617 | €747,495 | -€461,123 | -38.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €402,443 | €159,126 | -€243,317 | -60.5% |
| Distributable reserves | 133 | €799,974 | €582,168 | -€217,806 | -27.2% |
| Profit (loss) carried forward | 14 | €12,903 | €12,597 | -€307 | -2.4% |
| Provisions and deferred taxes | 16 | €169,994 | €81,908 | -€88,086 | -51.8% |
| Deferred taxes | 168 | €169,994 | €81,908 | -€88,086 | -51.8% |
| Amounts payable | 17/49 | €565,841 | €801,528 | +€235,686 | +41.7% |
| Amounts payable after more than one year | 17 | €181,756 | €105,168 | -€76,588 | -42.1% |
| Financial debts | 170/4 | €181,756 | €105,168 | -€76,588 | -42.1% |
| Amounts payable within one year | 42/48 | €373,691 | €690,649 | +€316,959 | +84.8% |
| Current portion of amounts payable after more than one year | 42 | €232,337 | €136,871 | -€95,466 | -41.1% |
| Financial debts | 43 | €49,598 | €249,937 | +€200,339 | +403.9% |
| Credit institutions | 430/8 | €49,598 | €249,937 | +€200,339 | +403.9% |
| Trade debts | 44 | €32,041 | €53,007 | +€20,966 | +65.4% |
| Suppliers | 440/4 | €32,041 | €53,007 | +€20,966 | +65.4% |
| Taxes, remuneration and social security | 45 | €3,262 | €142,743 | +€139,481 | +4275.5% |
| Taxes | 450/3 | €3,262 | €142,743 | +€139,481 | +4275.5% |
| Other amounts payable | 47/48 | €56,452 | €108,091 | +€51,639 | +91.5% |
| Accrued charges and deferred income | 492/3 | €10,394 | €5,710 | -€4,684 | -45.1% |
| Non-recurring operating income | 76A | - | €108,511 | +€108,511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,726 | €89,364 | +€11,639 | +15.0% |
| Other operating charges | 640/8 | €14,605 | €15,243 | +€638 | +4.4% |
| Non-recurring operating charges | 66A | €7,605 | €0 | -€7,605 | -100.0% |
| Gross operating margin | 9900 | €102,911 | €186,720 | +€83,809 | +81.4% |
| Operating profit (loss) | 9901 | €2,976 | €82,112 | +€79,137 | +2659.6% |
| Financial income | 75/76B | €2,774 | €0 | -€2,774 | -100.0% |
| Recurring financial income | 75 | €187 | €0 | -€187 | -100.0% |
| Non-recurring financial income | 76B | €2,587 | €0 | -€2,587 | -100.0% |
| Financial charges | 65/66B | €16,288 | €18,479 | +€2,190 | +13.4% |
| Recurring financial charges | 65 | €16,288 | €18,479 | +€2,190 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,539 | €63,634 | +€74,173 | |
| Transfer from deferred taxes | 780 | €4,426 | €88,086 | +€83,661 | +1890.3% |
| Income taxes | 67/77 | €3,073 | €139,671 | +€136,598 | +4445.7% |
| Profit (loss) for the period | 9904 | -€9,186 | €12,049 | +€21,235 | |
| Transfer from tax-exempt reserves | 789 | €8,589 | €243,317 | +€234,727 | +2732.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€597 | €255,366 | +€255,963 |
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 12 October 2026 via checked.be.