Arnaud STOCQ: 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.
Arnaud STOCQ
Largest movements
- Cash +€11,947
up €11,947 (+26.7%), from €44,700 to €56,647
mainly Receivables within one year (+€10,740) and Depreciation (+€8,835)
- Receivables within one year -€10,740
down €10,740 (-41.3%), from €25,990 to €15,250
of which Trade receivables: -€7,037
- Tangible fixed assets -€6,685
down €6,685 (-73.0%), from €9,153 to €2,468
of which Furniture and vehicles: -€8,114
- Current portion of long-term debt -€12,311
down €12,311 (-90.6%), from €13,589 to €1,278
- Other debts +€8,000
new in 2025: €8,000
- Profit (loss) carried forward -€7,947
down €7,947 (-33.5%), from €23,739 to €15,792
- Reserves +€5,100
up €5,100 (+43.0%), from €11,860 to €16,960
of which Distributable reserves: +€5,100
- Tax, wage and social debts +€1,639
up €1,639 (+14.9%), from €11,027 to €12,666
of which Taxes: +€3,030
- Gross operating margin -€16,092
down €16,092 (-18.5%), from €87,018 to €70,926
- Staff costs +€2,613
up €2,613 (+5.2%), from €50,081 to €52,694
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 | €80,810 | €74,868 | -€5,941 | -7.4% |
| Fixed assets | 21/28 | €9,480 | €2,796 | -€6,685 | -70.5% |
| Tangible fixed assets | 22/27 | €9,153 | €2,468 | -€6,685 | -73.0% |
| Furniture and vehicles | 24 | €8,114 | €0 | -€8,114 | -100% |
| Other tangible fixed assets | 26 | €1,039 | €2,468 | +€1,429 | +138% |
| Financial fixed assets | 28 | €327 | €327 | = | 0.0% |
| Current assets | 29/58 | €71,329 | €72,073 | +€744 | +1.0% |
| Amounts receivable within one year | 40/41 | €25,990 | €15,250 | -€10,740 | -41.3% |
| Trade receivables | 40 | €9,517 | €2,480 | -€7,037 | -73.9% |
| Other amounts receivable | 41 | €16,473 | €12,770 | -€3,703 | -22.5% |
| Cash at bank and in hand | 54/58 | €44,700 | €56,647 | +€11,947 | +26.7% |
| Deferred charges and accrued income | 490/1 | €640 | €176 | -€463 | -72.5% |
| Total equity and liabilities | 10/49 | €80,810 | €74,868 | -€5,941 | -7.4% |
| Equity | 10/15 | €41,799 | €38,952 | -€2,847 | -6.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,860 | €16,960 | +€5,100 | +43.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €15,100 | +€5,100 | +51.0% |
| Profit (loss) carried forward | 14 | €23,739 | €15,792 | -€7,947 | -33.5% |
| Amounts payable | 17/49 | €39,011 | €35,917 | -€3,094 | -7.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €38,999 | €35,904 | -€3,094 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €13,589 | €1,278 | -€12,311 | -90.6% |
| Trade debts | 44 | €14,383 | €13,960 | -€422 | -2.9% |
| Suppliers | 440/4 | €14,383 | €13,960 | -€422 | -2.9% |
| Taxes, remuneration and social security | 45 | €11,027 | €12,666 | +€1,639 | +14.9% |
| Taxes | 450/3 | €1,442 | €4,472 | +€3,030 | +210% |
| Remuneration and social security | 454/9 | €9,584 | €8,194 | -€1,390 | -14.5% |
| Other amounts payable | 47/48 | - | €8,000 | +€8,000 | |
| Accrued charges and deferred income | 492/3 | €12 | €13 | +€0 | +1.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €50,081 | €52,694 | +€2,613 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,586 | €8,835 | -€751 | -7.8% |
| Other operating charges | 640/8 | €1,575 | €1,635 | +€59 | +3.8% |
| Gross operating margin | 9900 | €87,018 | €70,926 | -€16,092 | -18.5% |
| Operating profit (loss) | 9901 | €25,776 | €7,762 | -€18,014 | -69.9% |
| Financial income | 75/76B | €489 | €438 | -€51 | -10.4% |
| Recurring financial income | 75 | €489 | €438 | -€51 | -10.4% |
| Financial charges | 65/66B | €1,051 | €533 | -€518 | -49.3% |
| Recurring financial charges | 65 | €1,051 | €533 | -€518 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €25,213 | €7,667 | -€17,547 | -69.6% |
| Income taxes | 67/77 | €1,865 | €2,514 | +€649 | +34.8% |
| Profit (loss) for the period | 9904 | €23,348 | €5,153 | -€18,195 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,348 | €5,153 | -€18,195 | -77.9% |
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 27 October 2026 via checked.be.