SUGOFA: 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.
SUGOFA
Largest movements
- Cash +€92,739
up €92,739 (+146%), from €63,540 to €156,279
mainly Trade debts (+€111,645) and Net result for the year (+€75,326)
- Stocks and contracts -€37,443
down €37,443 (-38.7%), from €96,795 to €59,352
- Tangible fixed assets -€35,891
down €35,891 (-3.3%), from €1.1m to €1.1m
of which Other tangible fixed assets: -€32,084
- Receivables within one year -€20,987
down €20,987 (-61.5%), from €34,138 to €13,152
of which Other amounts receivable: -€19,258
- Debts after one year -€160,051
down €160,051 (-19.4%), from €826,678 to €666,627
- Trade debts +€111,645
up €111,645 (+64.1%), from €174,197 to €285,842
- Profit (loss) carried forward +€75,326
up €75,326 (+63.1%), from €119,463 to €194,789
- Current portion of long-term debt -€39,042
down €39,042 (-35.6%), from €109,554 to €70,512
- Taxes -€23,812
down €23,812 (-52.4%), from €45,463 to €21,650
- Staff costs +€10,058
up €10,058 (+6.5%), from €154,536 to €164,593
- Gross operating margin -€7,947
down €7,947 (-2.3%), from €343,543 to €335,596
- Depreciation -€3,890
down €3,890 (-10.3%), from €37,857 to €33,967
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 | €1,334,576 | €1,330,125 | -€4,451 | -0.3% |
| Fixed assets | 21/28 | €1,092,204 | €1,056,313 | -€35,891 | -3.3% |
| Tangible fixed assets | 22/27 | €1,092,024 | €1,056,133 | -€35,891 | -3.3% |
| Land and buildings | 22 | €994,000 | €994,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €844 | €517 | -€327 | -38.8% |
| Furniture and vehicles | 24 | €5,829 | €2,350 | -€3,479 | -59.7% |
| Other tangible fixed assets | 26 | €91,351 | €59,267 | -€32,084 | -35.1% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €242,373 | €273,813 | +€31,440 | +13.0% |
| Amounts receivable after more than one year | 29 | €37,700 | €37,700 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €37,700 | €37,700 | = | 0.0% |
| Stocks and contracts in progress | 3 | €96,795 | €59,352 | -€37,443 | -38.7% |
| Stocks | 30/36 | €96,795 | €59,352 | -€37,443 | -38.7% |
| Amounts receivable within one year | 40/41 | €34,138 | €13,152 | -€20,987 | -61.5% |
| Trade receivables | 40 | €14,375 | €12,646 | -€1,729 | -12.0% |
| Other amounts receivable | 41 | €19,763 | €506 | -€19,258 | -97.4% |
| Cash at bank and in hand | 54/58 | €63,540 | €156,279 | +€92,739 | +146% |
| Deferred charges and accrued income | 490/1 | €10,200 | €7,330 | -€2,869 | -28.1% |
| Total equity and liabilities | 10/49 | €1,334,576 | €1,330,125 | -€4,451 | -0.3% |
| Equity | 10/15 | €169,986 | €245,312 | +€75,326 | +44.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €523 | €523 | = | 0.0% |
| Non-distributable reserves | 130/1 | €523 | €523 | = | 0.0% |
| Reserves not available under the articles | 1311 | €523 | €523 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,463 | €194,789 | +€75,326 | +63.1% |
| Amounts payable | 17/49 | €1,164,591 | €1,084,814 | -€79,777 | -6.9% |
| Amounts payable after more than one year | 17 | €826,678 | €666,627 | -€160,051 | -19.4% |
| Financial debts | 170/4 | €826,678 | €666,627 | -€160,051 | -19.4% |
| Amounts payable within one year | 42/48 | €337,912 | €418,187 | +€80,275 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €109,554 | €70,512 | -€39,042 | -35.6% |
| Trade debts | 44 | €174,197 | €285,842 | +€111,645 | +64.1% |
| Suppliers | 440/4 | €174,197 | €285,842 | +€111,645 | +64.1% |
| Taxes, remuneration and social security | 45 | €51,986 | €59,145 | +€7,159 | +13.8% |
| Taxes | 450/3 | €44,092 | €47,952 | +€3,861 | +8.8% |
| Remuneration and social security | 454/9 | €7,894 | €11,193 | +€3,298 | +41.8% |
| Other amounts payable | 47/48 | €2,175 | €2,688 | +€513 | +23.6% |
| Non-recurring operating income | 76A | €0 | €10,058 | +€10,058 | |
| Remuneration, social security and pensions | 62 | €154,536 | €164,593 | +€10,058 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,857 | €33,967 | -€3,890 | -10.3% |
| Other operating charges | 640/8 | €6,747 | €7,767 | +€1,020 | +15.1% |
| Non-recurring operating charges | 66A | €2,287 | €0 | -€2,287 | -100% |
| Gross operating margin | 9900 | €343,543 | €335,596 | -€7,947 | -2.3% |
| Operating profit (loss) | 9901 | €142,116 | €129,269 | -€12,847 | -9.0% |
| Financial income | 75/76B | €911 | €850 | -€60 | -6.6% |
| Recurring financial income | 75 | €911 | €850 | -€60 | -6.6% |
| Financial charges | 65/66B | €34,317 | €33,144 | -€1,173 | -3.4% |
| Recurring financial charges | 65 | €34,317 | €33,144 | -€1,173 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €108,709 | €96,976 | -€11,733 | -10.8% |
| Income taxes | 67/77 | €45,463 | €21,650 | -€23,812 | -52.4% |
| Profit (loss) for the period | 9904 | €63,247 | €75,326 | +€12,079 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,247 | €75,326 | +€12,079 | +19.1% |
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 22 October 2026 via checked.be.