De Stadsmakers: what changed
Two fiscal 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.
De Stadsmakers
Largest movements
- Receivables within one year -€19,601
down €19,601 (-44.4%), from €44,123 to €24,522
of which Trade receivables: -€17,455
- Cash +€8,470
up €8,470 (+23.6%), from €35,871 to €44,341
mainly Receivables within one year (+€19,601) and Depreciation (+€5,234)
- Tangible fixed assets +€4,890
up €4,890 (+25.1%), from €19,519 to €24,409
of which Land and buildings: +€9,675
- Deferred charges and accrued income -€1,813
no longer reported in 2025 (was €1,813)
- Trade debts -€6,643
down €6,643 (-16.4%), from €40,440 to €33,797
- Tax, wage and social debts -€3,475
down €3,475 (-27.6%), from €12,601 to €9,127
- Advances received +€1,693
new in 2025: €1,693
- Contributions +€1,250
up €1,250 (+1.6%), from €76,750 to €78,000
- Gross operating margin +€8,184
up €8,184 (+83.9%), from €9,758 to €17,942
- Other operating charges +€581
up €581 (+4.6%), from €12,712 to €13,293
- Depreciation +€457
up €457 (+9.6%), from €4,777 to €5,234
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.
Cash bridge derived
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 | €101,326 | €93,272 | -€8,054 | -7.9% |
| Fixed assets | 21/28 | €19,519 | €24,409 | +€4,890 | +25.1% |
| Tangible fixed assets | 22/27 | €19,519 | €24,409 | +€4,890 | +25.1% |
| Land and buildings | 22 | - | €9,675 | +€9,675 | |
| Plant, machinery and equipment | 23 | €5,404 | €2,761 | -€2,643 | -48.9% |
| Other tangible fixed assets | 26 | €14,115 | €11,973 | -€2,142 | -15.2% |
| Current assets | 29/58 | €81,807 | €68,863 | -€12,944 | -15.8% |
| Amounts receivable within one year | 40/41 | €44,123 | €24,522 | -€19,601 | -44.4% |
| Trade receivables | 40 | €41,295 | €23,840 | -€17,455 | -42.3% |
| Other amounts receivable | 41 | €2,828 | €682 | -€2,146 | -75.9% |
| Cash at bank and in hand | 54/58 | €35,871 | €44,341 | +€8,470 | +23.6% |
| Deferred charges and accrued income | 490/1 | €1,813 | - | -€1,813 | |
| Total equity and liabilities | 10/49 | €101,326 | €93,272 | -€8,054 | -7.9% |
| Equity | 10/15 | €48,167 | €48,646 | +€479 | +1.0% |
| Contributions | 10/11 | €76,750 | €78,000 | +€1,250 | +1.6% |
| Profit (loss) carried forward | 14 | -€28,583 | -€29,354 | -€771 | -2.7% |
| Amounts payable | 17/49 | €53,159 | €44,626 | -€8,533 | -16.1% |
| Amounts payable within one year | 42/48 | €53,159 | €44,626 | -€8,533 | -16.1% |
| Trade debts | 44 | €40,440 | €33,797 | -€6,643 | -16.4% |
| Suppliers | 440/4 | €40,440 | €33,797 | -€6,643 | -16.4% |
| Advances received on contracts in progress | 46 | - | €1,693 | +€1,693 | |
| Taxes, remuneration and social security | 45 | €12,601 | €9,127 | -€3,475 | -27.6% |
| Taxes | 450/3 | €12,601 | €9,127 | -€3,475 | -27.6% |
| Other amounts payable | 47/48 | €118 | €9 | -€108 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,777 | €5,234 | +€457 | +9.6% |
| Other operating charges | 640/8 | €12,712 | €13,293 | +€581 | +4.6% |
| Gross operating margin | 9900 | €9,758 | €17,942 | +€8,184 | +83.9% |
| Operating profit (loss) | 9901 | -€7,731 | -€585 | +€7,146 | +92.4% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €180 | €186 | +€6 | +3.4% |
| Recurring financial charges | 65 | €180 | €186 | +€6 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,892 | -€771 | +€7,121 | +90.2% |
| Profit (loss) for the period | 9904 | -€7,892 | -€771 | +€7,121 | +90.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,892 | -€771 | +€7,121 | +90.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.