SUSTINERI ADVISORS: 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.
SUSTINERI ADVISORS
Largest movements
- Cash -€202,259
down €202,259 (-58.8%), from €344,146 to €141,886
mainly Contributions, distributions and other (-€391,000) and Debts after one year (-€13,373)
- Tangible fixed assets -€15,947
down €15,947 (-32.5%), from €49,048 to €33,101
of which Furniture and vehicles: -€19,460
- Profit (loss) carried forward -€217,093
down €217,093 (-77.5%), from €280,048 to €62,955
- Debts after one year -€13,373
down €13,373 (-51.2%), from €26,108 to €12,735
- Tax, wage and social debts +€11,496
up €11,496 (+15.7%), from €73,113 to €84,609
- Gross operating margin +€43,813
up €43,813 (+22.2%), from €197,719 to €241,532
- Taxes +€12,266
up €12,266 (+30.3%), from €40,487 to €52,753
- Financial income +€6,875
up €6,875 (+323%), from €2,130 to €9,004
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.
Derived cash bridge
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 | €394,194 | €175,704 | -€218,490 | -55.4% |
| Fixed assets | 21/28 | €49,048 | €33,101 | -€15,947 | -32.5% |
| Tangible fixed assets | 22/27 | €49,048 | €33,101 | -€15,947 | -32.5% |
| Plant, machinery and equipment | 23 | €359 | €4,229 | +€3,870 | +1,078% |
| Furniture and vehicles | 24 | €47,130 | €27,670 | -€19,460 | -41.3% |
| Leasing and similar rights | 25 | €1,559 | €1,202 | -€357 | -22.9% |
| Current assets | 29/58 | €345,146 | €142,603 | -€202,542 | -58.7% |
| Amounts receivable within one year | 40/41 | €1,000 | €717 | -€283 | -28.3% |
| Trade receivables | 40 | €1,000 | - | -€1,000 | |
| Other amounts receivable | 41 | - | €717 | +€717 | |
| Cash at bank and in hand | 54/58 | €344,146 | €141,886 | -€202,259 | -58.8% |
| Total equity and liabilities | 10/49 | €394,194 | €175,704 | -€218,490 | -55.4% |
| Equity | 10/15 | €282,048 | €64,955 | -€217,093 | -77.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €280,048 | €62,955 | -€217,093 | -77.5% |
| Amounts payable | 17/49 | €112,146 | €110,749 | -€1,397 | -1.2% |
| Amounts payable after more than one year | 17 | €26,108 | €12,735 | -€13,373 | -51.2% |
| Financial debts | 170/4 | €26,108 | €12,735 | -€13,373 | -51.2% |
| Amounts payable within one year | 42/48 | €86,038 | €98,014 | +€11,976 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €12,851 | €13,373 | +€522 | +4.1% |
| Taxes, remuneration and social security | 45 | €73,113 | €84,609 | +€11,496 | +15.7% |
| Taxes | 450/3 | €73,113 | €84,609 | +€11,496 | +15.7% |
| Other amounts payable | 47/48 | €73 | €32 | -€41 | -56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,781 | €21,636 | +€855 | +4.1% |
| Other operating charges | 640/8 | €372 | €683 | +€310 | +83.3% |
| Gross operating margin | 9900 | €197,719 | €241,532 | +€43,813 | +22.2% |
| Operating profit (loss) | 9901 | €176,565 | €219,214 | +€42,648 | +24.2% |
| Financial income | 75/76B | €2,130 | €9,004 | +€6,875 | +323% |
| Recurring financial income | 75 | €2,130 | €9,004 | +€6,875 | +323% |
| Financial charges | 65/66B | €1,961 | €1,558 | -€403 | -20.6% |
| Recurring financial charges | 65 | €1,961 | €1,558 | -€403 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €176,734 | €226,660 | +€49,926 | +28.2% |
| Income taxes | 67/77 | €40,487 | €52,753 | +€12,266 | +30.3% |
| Profit (loss) for the period | 9904 | €136,247 | €173,908 | +€37,661 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €136,247 | €173,908 | +€37,661 | +27.6% |
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 29 October 2026 via checked.be.