Christian STADTMÜLLER: what changed
Christian STADTMÜLLER
Largest movements
- Cash +€21,668
up €21,668 (+24.5%), from €88,555 to €110,222
mainly Other debts (+€32,390) and Net result for the year (+€19,867)
- Tangible fixed assets -€10,413
down €10,413 (-23.2%), from €44,817 to €34,404
of which Furniture and vehicles: -€5,669
- Receivables within one year -€3,423
down €3,423 (-45.6%), from €7,500 to €4,077
- Other debts +€32,390
up €32,390 (+496%), from €6,536 to €38,926
- Reserves -€20,666
down €20,666 (-21.1%), from €97,821 to €77,154
- Debts after one year -€7,500
down €7,500 (-34.3%), from €21,875 to €14,375
- Tax, wage and social debts +€5,388
new in 2025: €5,388
of which Taxes: +€4,135
- Staff costs -€6,363
down €6,363 (-63.8%), from €9,973 to €3,610
- Taxes +€5,542
up €5,542 (+73.9%), from €7,500 to €13,042
- Gross operating margin -€3,526
down €3,526 (-6.5%), from €54,473 to €50,947
- Depreciation -€3,214
down €3,214 (-23.6%), from €13,627 to €10,413
- Financial charges -€547
down €547 (-17.0%), from €3,211 to €2,664
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 | €141,367 | €150,550 | +€9,183 | +6.5% |
| Fixed assets | 21/28 | €44,817 | €34,404 | -€10,413 | -23.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €44,817 | €34,404 | -€10,413 | -23.2% |
| Land and buildings | 22 | €17,400 | €13,050 | -€4,350 | -25.0% |
| Plant, machinery and equipment | 23 | €2,361 | €1,967 | -€395 | -16.7% |
| Furniture and vehicles | 24 | €25,056 | €19,387 | -€5,669 | -22.6% |
| Current assets | 29/58 | €96,549 | €116,146 | +€19,596 | +20.3% |
| Amounts receivable within one year | 40/41 | €7,500 | €4,077 | -€3,423 | -45.6% |
| Other amounts receivable | 41 | €7,500 | €4,077 | -€3,423 | -45.6% |
| Cash at bank and in hand | 54/58 | €88,555 | €110,222 | +€21,668 | +24.5% |
| Deferred charges and accrued income | 490/1 | €495 | €1,847 | +€1,352 | +273% |
| Total equity and liabilities | 10/49 | €141,367 | €150,550 | +€9,183 | +6.5% |
| Equity | 10/15 | €101,421 | €80,754 | -€20,666 | -20.4% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €97,821 | €77,154 | -€20,666 | -21.1% |
| Distributable reserves | 133 | €97,821 | €77,154 | -€20,666 | -21.1% |
| Amounts payable | 17/49 | €39,946 | €69,796 | +€29,850 | +74.7% |
| Amounts payable after more than one year | 17 | €21,875 | €14,375 | -€7,500 | -34.3% |
| Financial debts | 170/4 | €21,875 | €14,375 | -€7,500 | -34.3% |
| Amounts payable within one year | 42/48 | €18,071 | €55,421 | +€37,350 | +207% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €7,500 | = | 0.0% |
| Trade debts | 44 | €4,035 | €3,607 | -€429 | -10.6% |
| Suppliers | 440/4 | €4,035 | €3,607 | -€429 | -10.6% |
| Taxes, remuneration and social security | 45 | - | €5,388 | +€5,388 | |
| Taxes | 450/3 | - | €4,135 | +€4,135 | |
| Remuneration and social security | 454/9 | - | €1,254 | +€1,254 | |
| Other amounts payable | 47/48 | €6,536 | €38,926 | +€32,390 | +496% |
| Remuneration, social security and pensions | 62 | €9,973 | €3,610 | -€6,363 | -63.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,627 | €10,413 | -€3,214 | -23.6% |
| Other operating charges | 640/8 | €1,626 | €1,652 | +€26 | +1.6% |
| Gross operating margin | 9900 | €54,473 | €50,947 | -€3,526 | -6.5% |
| Operating profit (loss) | 9901 | €29,247 | €35,272 | +€6,025 | +20.6% |
| Financial income | 75/76B | €257 | €301 | +€44 | +17.3% |
| Recurring financial income | 75 | €257 | €301 | +€44 | +17.3% |
| Financial charges | 65/66B | €3,211 | €2,664 | -€547 | -17.0% |
| Recurring financial charges | 65 | €3,211 | €2,664 | -€547 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €26,293 | €32,909 | +€6,616 | +25.2% |
| Income taxes | 67/77 | €7,500 | €13,042 | +€5,542 | +73.9% |
| Profit (loss) for the period | 9904 | €18,793 | €19,867 | +€1,075 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,793 | €19,867 | +€1,075 | +5.7% |
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 3 November 2026 via checked.be.