Sustimax: 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.
Sustimax
Largest movements
- Financial fixed assets +€71,800
up €71,800 (+32.8%), from €219,000 to €290,800
- Cash -€52,634
down €52,634 (-46.0%), from €114,361 to €61,727
mainly Contributions, distributions and other (-€527,444) and Investment in fixed assets (net) (-€76,035)
- Receivables within one year -€12,158
down €12,158 (-30.1%), from €40,418 to €28,260
of which Other amounts receivable: -€10,767
- Reserves -€396,825
down €396,825 (-81.8%), from €485,079 to €88,254
- Other debts +€307,478
up €307,478 (+1207.1%), from €25,473 to €332,951
- Debts after one year +€116,906
up €116,906 (+102.2%), from €114,440 to €231,346
of which Other amounts payable: +€90,254
- Tax, wage and social debts -€46,200
down €46,200 (-70.5%), from €65,543 to €19,343
of which Taxes: -€46,200
- Current portion of long-term debt +€22,378
up €22,378 (+58.4%), from €38,314 to €60,692
- Taxes +€13,798
up €13,798 (+45.2%), from €30,542 to €44,340
- Gross operating margin +€12,491
up €12,491 (+7.3%), from €171,185 to €183,676
- Depreciation -€12,184
down €12,184 (-62.9%), from €19,366 to €7,182
- Financial income -€6,735
down €6,735 (-44.2%), from €15,244 to €8,509
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 | €731,590 | €735,525 | +€3,935 | +0.5% |
| Fixed assets | 21/28 | €227,678 | €296,531 | +€68,853 | +30.2% |
| Tangible fixed assets | 22/27 | €8,678 | €5,731 | -€2,947 | -34.0% |
| Plant, machinery and equipment | 23 | €166 | €0 | -€166 | -100.0% |
| Furniture and vehicles | 24 | €8,512 | €5,731 | -€2,781 | -32.7% |
| Financial fixed assets | 28 | €219,000 | €290,800 | +€71,800 | +32.8% |
| Current assets | 29/58 | €503,912 | €438,994 | -€64,918 | -12.9% |
| Amounts receivable within one year | 40/41 | €40,418 | €28,260 | -€12,158 | -30.1% |
| Trade receivables | 40 | €26,439 | €25,047 | -€1,392 | -5.3% |
| Other amounts receivable | 41 | €13,980 | €3,213 | -€10,767 | -77.0% |
| Current investments | 50/53 | €349,134 | €347,913 | -€1,221 | -0.3% |
| Cash at bank and in hand | 54/58 | €114,361 | €61,727 | -€52,634 | -46.0% |
| Deferred charges and accrued income | 490/1 | - | €1,095 | +€1,095 | |
| Total equity and liabilities | 10/49 | €731,590 | €735,525 | +€3,935 | +0.5% |
| Equity | 10/15 | €487,079 | €90,254 | -€396,825 | -81.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €485,079 | €88,254 | -€396,825 | -81.8% |
| Distributable reserves | 133 | €485,079 | €88,254 | -€396,825 | -81.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €244,511 | €645,271 | +€400,760 | +163.9% |
| Amounts payable after more than one year | 17 | €114,440 | €231,346 | +€116,906 | +102.2% |
| Financial debts | 170/4 | €114,440 | €141,093 | +€26,653 | +23.3% |
| Other amounts payable | 178/9 | - | €90,254 | +€90,254 | |
| Amounts payable within one year | 42/48 | €129,426 | €413,392 | +€283,966 | +219.4% |
| Current portion of amounts payable after more than one year | 42 | €38,314 | €60,692 | +€22,378 | +58.4% |
| Trade debts | 44 | €96 | €406 | +€310 | +322.9% |
| Suppliers | 440/4 | €96 | €406 | +€310 | +322.9% |
| Taxes, remuneration and social security | 45 | €65,543 | €19,343 | -€46,200 | -70.5% |
| Taxes | 450/3 | €63,524 | €17,324 | -€46,200 | -72.7% |
| Remuneration and social security | 454/9 | €2,019 | €2,019 | = | 0.0% |
| Other amounts payable | 47/48 | €25,473 | €332,951 | +€307,478 | +1207.1% |
| Accrued charges and deferred income | 492/3 | €645 | €533 | -€112 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,366 | €7,182 | -€12,184 | -62.9% |
| Other operating charges | 640/8 | €649 | €607 | -€42 | -6.4% |
| Non-recurring operating charges | 66A | - | €147 | +€147 | |
| Gross operating margin | 9900 | €171,185 | €183,676 | +€12,491 | +7.3% |
| Operating profit (loss) | 9901 | €151,170 | €175,739 | +€24,570 | +16.3% |
| Financial income | 75/76B | €15,244 | €8,509 | -€6,735 | -44.2% |
| Recurring financial income | 75 | €15,244 | €8,509 | -€6,735 | -44.2% |
| Financial charges | 65/66B | €7,608 | €9,289 | +€1,681 | +22.1% |
| Recurring financial charges | 65 | €7,608 | €9,289 | +€1,681 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €158,805 | €174,959 | +€16,154 | +10.2% |
| Income taxes | 67/77 | €30,542 | €44,340 | +€13,798 | +45.2% |
| Profit (loss) for the period | 9904 | €128,263 | €130,619 | +€2,356 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,263 | €130,619 | +€2,356 | +1.8% |
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 11 October 2026 via checked.be.