SUZAR PROTECT: what changed
SUZAR PROTECT
Largest movements
- Tangible fixed assets +€581,764
up €581,764 (+609%), from €95,481 to €677,245
of which Land and buildings: +€597,555
- Cash -€189,252
down €189,252 (-65.5%), from €288,789 to €99,536
mainly Investment in fixed assets (net) (-€619,833) and Trade debts (-€114,208)
- Receivables within one year -€70,537
down €70,537 (-23.5%), from €300,120 to €229,583
of which Trade receivables: -€77,725
- Stocks and contracts +€69,126
up €69,126 (+299%), from €23,104 to €92,230
- Debts after one year +€600,000
new in 2025: €600,000
- Trade debts -€114,208
down €114,208 (-65.4%), from €174,695 to €60,487
- Advances received -€63,302
down €63,302 (-100%), from €63,302 to €0
- Tax, wage and social debts -€51,113
down €51,113 (-39.2%), from €130,326 to €79,213
of which Taxes: -€51,113
- Profit (loss) carried forward +€28,336
up €28,336 (+13.8%), from €205,172 to €233,508
- Gross operating margin -€162,900
down €162,900 (-49.9%), from €326,231 to €163,331
- Taxes -€53,771
down €53,771 (-83.6%), from €64,301 to €10,530
- Staff costs +€26,477
new in 2025: €26,477
- Write-downs +€24,955
up €24,955 (+80.0%), from €31,174 to €56,129
- Depreciation +€17,775
up €17,775 (+87.6%), from €20,294 to €38,069
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €715,564 | €1,107,360 | +€391,796 | +54.8% |
| Fixed assets | 21/28 | €99,981 | €681,745 | +€581,764 | +582% |
| Tangible fixed assets | 22/27 | €95,481 | €677,245 | +€581,764 | +609% |
| Land and buildings | 22 | - | €597,555 | +€597,555 | |
| Plant, machinery and equipment | 23 | €16,019 | €11,506 | -€4,512 | -28.2% |
| Furniture and vehicles | 24 | €79,462 | €68,184 | -€11,279 | -14.2% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €615,583 | €425,616 | -€189,968 | -30.9% |
| Stocks and contracts in progress | 3 | €23,104 | €92,230 | +€69,126 | +299% |
| Stocks | 30/36 | €23,104 | €92,230 | +€69,126 | +299% |
| Amounts receivable within one year | 40/41 | €300,120 | €229,583 | -€70,537 | -23.5% |
| Trade receivables | 40 | €135,411 | €57,686 | -€77,725 | -57.4% |
| Other amounts receivable | 41 | €164,710 | €171,898 | +€7,188 | +4.4% |
| Cash at bank and in hand | 54/58 | €288,789 | €99,536 | -€189,252 | -65.5% |
| Deferred charges and accrued income | 490/1 | €3,570 | €4,266 | +€695 | +19.5% |
| Total equity and liabilities | 10/49 | €715,564 | €1,107,360 | +€391,796 | +54.8% |
| Equity | 10/15 | €332,172 | €360,508 | +€28,336 | +8.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €117,000 | €117,000 | = | 0.0% |
| Distributable reserves | 133 | €117,000 | €117,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €205,172 | €233,508 | +€28,336 | +13.8% |
| Amounts payable | 17/49 | €383,393 | €746,853 | +€363,460 | +94.8% |
| Amounts payable after more than one year | 17 | - | €600,000 | +€600,000 | |
| Financial debts | 170/4 | - | €600,000 | +€600,000 | |
| Amounts payable within one year | 42/48 | €375,477 | €145,494 | -€229,984 | -61.3% |
| Trade debts | 44 | €174,695 | €60,487 | -€114,208 | -65.4% |
| Suppliers | 440/4 | €174,695 | €60,487 | -€114,208 | -65.4% |
| Advances received on contracts in progress | 46 | €63,302 | €0 | -€63,302 | -100% |
| Taxes, remuneration and social security | 45 | €130,326 | €79,213 | -€51,113 | -39.2% |
| Taxes | 450/3 | €130,326 | €79,213 | -€51,113 | -39.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €7,154 | €5,794 | -€1,360 | -19.0% |
| Accrued charges and deferred income | 492/3 | €7,915 | €1,359 | -€6,556 | -82.8% |
| Remuneration, social security and pensions | 62 | - | €26,477 | +€26,477 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,294 | €38,069 | +€17,775 | +87.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,174 | €56,129 | +€24,955 | +80.0% |
| Other operating charges | 640/8 | €7,081 | €5,357 | -€1,725 | -24.4% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €326,231 | €163,331 | -€162,900 | -49.9% |
| Operating profit (loss) | 9901 | €267,681 | €37,299 | -€230,382 | -86.1% |
| Financial income | 75/76B | €1,854 | €1,859 | +€5 | +0.3% |
| Recurring financial income | 75 | €1,854 | €1,859 | +€5 | +0.3% |
| Financial charges | 65/66B | €298 | €292 | -€6 | -1.9% |
| Recurring financial charges | 65 | €298 | €292 | -€6 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €269,238 | €38,866 | -€230,372 | -85.6% |
| Income taxes | 67/77 | €64,301 | €10,530 | -€53,771 | -83.6% |
| Profit (loss) for the period | 9904 | €204,937 | €28,336 | -€176,601 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €204,937 | €28,336 | -€176,601 | -86.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.