ELECTRO St. GERMAIN: 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.
ELECTRO St. GERMAIN
Largest movements
- Cash +€440,949
up €440,949 (+543.1%), from €81,196 to €522,146
mainly Stocks and contracts (+€345,884) and Debts after one year (+€166,353)
- Stocks and contracts -€345,884
down €345,884 (-37.7%), from €917,702 to €571,818
- Tangible fixed assets +€169,659
up €169,659 (+29.1%), from €583,429 to €753,088
of which Land and buildings: +€232,555
- Receivables within one year +€42,629
up €42,629 (+23.7%), from €179,858 to €222,487
of which Other amounts receivable: +€43,083
- Debts after one year +€166,353
up €166,353 (+161.7%), from €102,870 to €269,223
- Trade debts +€161,542
up €161,542 (+171.6%), from €94,115 to €255,657
- Profit (loss) carried forward -€134,467
down €134,467 (-12.9%), from €1.0m to €910,479
- Advances received +€77,653
up €77,653 (+345.0%), from €22,510 to €100,163
- Other debts +€24,537
up €24,537 (+445.0%), from €5,513 to €30,050
- Gross operating margin +€292,004
up €292,004 (+73.6%), from €396,597 to €688,601
- Write-downs +€290,000
new in 2025: €290,000
- Other operating charges +€228,097
up €228,097 (+797.8%), from €28,589 to €256,686
- Staff costs -€105,169
down €105,169 (-41.5%), from €253,164 to €147,995
- Depreciation -€11,141
down €11,141 (-14.3%), from €78,041 to €66,899
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 | €1,772,792 | €2,072,144 | +€299,351 | +16.9% |
| Fixed assets | 21/28 | €586,302 | €753,588 | +€167,286 | +28.5% |
| Intangible fixed assets | 21 | €2,373 | €0 | -€2,373 | -100.0% |
| Tangible fixed assets | 22/27 | €583,429 | €753,088 | +€169,659 | +29.1% |
| Land and buildings | 22 | €410,120 | €642,675 | +€232,555 | +56.7% |
| Plant, machinery and equipment | 23 | €39,789 | €26,345 | -€13,444 | -33.8% |
| Furniture and vehicles | 24 | €51,826 | €25,724 | -€26,103 | -50.4% |
| Leasing and similar rights | 25 | €81,694 | €50,845 | -€30,849 | -37.8% |
| Assets under construction and advance payments | 27 | - | €7,500 | +€7,500 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,186,490 | €1,318,555 | +€132,065 | +11.1% |
| Stocks and contracts in progress | 3 | €917,702 | €571,818 | -€345,884 | -37.7% |
| Stocks | 30/36 | €917,702 | €571,818 | -€345,884 | -37.7% |
| Amounts receivable within one year | 40/41 | €179,858 | €222,487 | +€42,629 | +23.7% |
| Trade receivables | 40 | €163,287 | €162,834 | -€453 | -0.3% |
| Other amounts receivable | 41 | €16,571 | €59,654 | +€43,083 | +260.0% |
| Cash at bank and in hand | 54/58 | €81,196 | €522,146 | +€440,949 | +543.1% |
| Deferred charges and accrued income | 490/1 | €7,735 | €2,104 | -€5,630 | -72.8% |
| Total equity and liabilities | 10/49 | €1,772,792 | €2,072,144 | +€299,351 | +16.9% |
| Equity | 10/15 | €1,113,736 | €979,269 | -€134,467 | -12.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Contributions outside capital | 11 | €61,973 | €61,973 | = | 0.0% |
| Other | 1109/19 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,817 | €6,817 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,817 | €6,817 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,044,945 | €910,479 | -€134,467 | -12.9% |
| Amounts payable | 17/49 | €659,056 | €1,092,875 | +€433,818 | +65.8% |
| Amounts payable after more than one year | 17 | €102,870 | €269,223 | +€166,353 | +161.7% |
| Financial debts | 170/4 | €102,870 | €269,223 | +€166,353 | +161.7% |
| Amounts payable within one year | 42/48 | €556,187 | €823,652 | +€267,465 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €55,550 | €75,492 | +€19,943 | +35.9% |
| Financial debts | 43 | €325,000 | €325,000 | = | 0.0% |
| Credit institutions | 430/8 | €325,000 | €325,000 | = | 0.0% |
| Trade debts | 44 | €94,115 | €255,657 | +€161,542 | +171.6% |
| Suppliers | 440/4 | €94,115 | €255,657 | +€161,542 | +171.6% |
| Advances received on contracts in progress | 46 | €22,510 | €100,163 | +€77,653 | +345.0% |
| Taxes, remuneration and social security | 45 | €53,499 | €37,289 | -€16,210 | -30.3% |
| Taxes | 450/3 | €12,831 | €10,340 | -€2,490 | -19.4% |
| Remuneration and social security | 454/9 | €40,668 | €26,949 | -€13,719 | -33.7% |
| Other amounts payable | 47/48 | €5,513 | €30,050 | +€24,537 | +445.0% |
| Remuneration, social security and pensions | 62 | €253,164 | €147,995 | -€105,169 | -41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,041 | €66,899 | -€11,141 | -14.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €290,000 | +€290,000 | |
| Other operating charges | 640/8 | €28,589 | €256,686 | +€228,097 | +797.8% |
| Gross operating margin | 9900 | €396,597 | €688,601 | +€292,004 | +73.6% |
| Operating profit (loss) | 9901 | €36,803 | -€72,980 | -€109,782 | |
| Financial income | 75/76B | €21,670 | €18,488 | -€3,183 | -14.7% |
| Recurring financial income | 75 | €21,670 | €18,488 | -€3,183 | -14.7% |
| Financial charges | 65/66B | €38,474 | €29,785 | -€8,689 | -22.6% |
| Recurring financial charges | 65 | €38,474 | €29,785 | -€8,689 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €19,999 | -€84,277 | -€104,275 | |
| Income taxes | 67/77 | €9,057 | €20,190 | +€11,133 | +122.9% |
| Profit (loss) for the period | 9904 | €10,942 | -€104,467 | -€115,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,942 | -€104,467 | -€115,409 |
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 9 October 2026 via checked.be.