De Stut: 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 Stut
Largest movements
- Cash +€39,816
up €39,816 (+95.4%), from €41,741 to €81,557
mainly Net result for the year (+€65,005) and Trade debts (+€11,658)
- Deferred charges and accrued income +€3,512
new in 2025: €3,512
- Reserves +€35,594
up €35,594 (+60.7%), from €58,609 to €94,202
- Trade debts +€11,658
up €11,658 (+19.7%), from €59,039 to €70,697
- Other debts -€2,571
down €2,571 (-75.4%), from €3,409 to €838
- Tax, wage and social debts -€1,811
down €1,811 (-15.6%), from €11,624 to €9,813
of which Taxes: -€6,463
- Gross operating margin +€24,474
up €24,474 (+23.6%), from €103,606 to €128,080
- Staff costs +€4,084
up €4,084 (+10.5%), from €38,742 to €42,827
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 | €137,380 | €179,550 | +€42,169 | +30.7% |
| Fixed assets | 21/28 | €2,600 | €1,433 | -€1,167 | -44.9% |
| Tangible fixed assets | 22/27 | €2,600 | €1,433 | -€1,167 | -44.9% |
| Plant, machinery and equipment | 23 | €742 | €343 | -€400 | -53.8% |
| Furniture and vehicles | 24 | €1,858 | €1,091 | -€767 | -41.3% |
| Current assets | 29/58 | €134,780 | €178,117 | +€43,337 | +32.2% |
| Amounts receivable within one year | 40/41 | €93,040 | €93,048 | +€9 | 0.0% |
| Trade receivables | 40 | €93,040 | €92,092 | -€948 | -1.0% |
| Other amounts receivable | 41 | - | €956 | +€956 | |
| Cash at bank and in hand | 54/58 | €41,741 | €81,557 | +€39,816 | +95.4% |
| Deferred charges and accrued income | 490/1 | - | €3,512 | +€3,512 | |
| Total equity and liabilities | 10/49 | €137,380 | €179,550 | +€42,169 | +30.7% |
| Equity | 10/15 | €62,609 | €98,202 | +€35,594 | +56.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €58,609 | €94,202 | +€35,594 | +60.7% |
| Distributable reserves | 133 | €58,609 | €94,202 | +€35,594 | +60.7% |
| Amounts payable | 17/49 | €74,772 | €81,348 | +€6,576 | +8.8% |
| Amounts payable within one year | 42/48 | €74,072 | €81,348 | +€7,275 | +9.8% |
| Trade debts | 44 | €59,039 | €70,697 | +€11,658 | +19.7% |
| Suppliers | 440/4 | €59,039 | €70,697 | +€11,658 | +19.7% |
| Taxes, remuneration and social security | 45 | €11,624 | €9,813 | -€1,811 | -15.6% |
| Taxes | 450/3 | €6,463 | - | -€6,463 | |
| Remuneration and social security | 454/9 | €5,161 | €9,813 | +€4,652 | +90.1% |
| Other amounts payable | 47/48 | €3,409 | €838 | -€2,571 | -75.4% |
| Accrued charges and deferred income | 492/3 | €700 | - | -€700 | |
| Remuneration, social security and pensions | 62 | €38,742 | €42,827 | +€4,084 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €844 | €1,167 | +€323 | +38.3% |
| Other operating charges | 640/8 | €1,415 | €737 | -€678 | -47.9% |
| Gross operating margin | 9900 | €103,606 | €128,080 | +€24,474 | +23.6% |
| Operating profit (loss) | 9901 | €62,605 | €83,350 | +€20,745 | +33.1% |
| Financial income | 75/76B | €17 | - | -€17 | |
| Recurring financial income | 75 | €17 | - | -€17 | |
| Financial charges | 65/66B | €190 | €800 | +€611 | +321.7% |
| Recurring financial charges | 65 | €190 | €800 | +€611 | +321.7% |
| Profit (loss) for the period before taxes | 9903 | €62,432 | €82,549 | +€20,117 | +32.2% |
| Income taxes | 67/77 | €17,463 | €17,544 | +€81 | +0.5% |
| Profit (loss) for the period | 9904 | €44,969 | €65,005 | +€20,037 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,969 | €65,005 | +€20,037 | +44.6% |
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 29 September 2026 via checked.be.