FORGET STIERLI AQUATIC: what changed
FORGET STIERLI AQUATIC
Largest movements
- Tangible fixed assets -€20,152
down €20,152 (-73.4%), from €27,463 to €7,311
of which Plant, machinery and equipment: -€13,988
- Cash +€15,622
up €15,622, from €0 to €15,622
mainly Advances received (+€12,100) and Receivables within one year (+€11,417)
- Receivables within one year -€11,417
down €11,417 (-50.6%), from €22,553 to €11,136
of which Trade receivables: -€11,604
- Stocks and contracts +€6,415
up €6,415 (+109%), from €5,882 to €12,297
- Intangible fixed assets +€1,330
new in 2025: €1,330
- Trade debts -€15,725
down €15,725 (-88.0%), from €17,863 to €2,137
- Advances received +€12,100
new in 2025: €12,100
- Debts after one year -€9,991
down €9,991 (-29.3%), from €34,082 to €24,091
- Profit (loss) carried forward +€7,175
up €7,175 (+28.4%), from -€25,234 to -€18,060
- Short-term financial debts -€6,993
down €6,993 (-100%), from €6,993 to €0
- Gross operating margin +€32,993
up €32,993, from -€10,951 to €22,042
- Depreciation -€4,431
down €4,431 (-31.6%), from €14,002 to €9,571
- Other operating charges +€563
up €563 (+67.4%), from €834 to €1,397
- Taxes -€333
down €333 (-47.9%), from €695 to €362
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 | €61,220 | €52,724 | -€8,497 | -13.9% |
| Fixed assets | 21/28 | €28,960 | €10,138 | -€18,822 | -65.0% |
| Intangible fixed assets | 21 | - | €1,330 | +€1,330 | |
| Tangible fixed assets | 22/27 | €27,463 | €7,311 | -€20,152 | -73.4% |
| Plant, machinery and equipment | 23 | €18,055 | €4,067 | -€13,988 | -77.5% |
| Furniture and vehicles | 24 | €9,408 | €3,244 | -€6,164 | -65.5% |
| Financial fixed assets | 28 | €1,497 | €1,497 | = | 0.0% |
| Current assets | 29/58 | €32,261 | €42,586 | +€10,325 | +32.0% |
| Stocks and contracts in progress | 3 | €5,882 | €12,297 | +€6,415 | +109% |
| Stocks | 30/36 | €5,882 | €12,297 | +€6,415 | +109% |
| Amounts receivable within one year | 40/41 | €22,553 | €11,136 | -€11,417 | -50.6% |
| Trade receivables | 40 | €21,142 | €9,538 | -€11,604 | -54.9% |
| Other amounts receivable | 41 | €1,411 | €1,597 | +€186 | +13.2% |
| Cash at bank and in hand | 54/58 | €0 | €15,622 | +€15,622 | |
| Deferred charges and accrued income | 490/1 | €3,826 | €3,531 | -€294 | -7.7% |
| Total equity and liabilities | 10/49 | €61,220 | €52,724 | -€8,497 | -13.9% |
| Equity | 10/15 | -€15,234 | -€8,060 | +€7,175 | +47.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,234 | -€18,060 | +€7,175 | +28.4% |
| Amounts payable | 17/49 | €76,455 | €60,784 | -€15,671 | -20.5% |
| Amounts payable after more than one year | 17 | €34,082 | €24,091 | -€9,991 | -29.3% |
| Financial debts | 170/4 | €34,082 | €24,091 | -€9,991 | -29.3% |
| Amounts payable within one year | 42/48 | €42,373 | €36,520 | -€5,853 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €8,571 | €9,063 | +€492 | +5.7% |
| Financial debts | 43 | €6,993 | €0 | -€6,993 | -100% |
| Credit institutions | 430/8 | €6,993 | €0 | -€6,993 | -100% |
| Trade debts | 44 | €17,863 | €2,137 | -€15,725 | -88.0% |
| Suppliers | 440/4 | €17,863 | €2,137 | -€15,725 | -88.0% |
| Advances received on contracts in progress | 46 | - | €12,100 | +€12,100 | |
| Taxes, remuneration and social security | 45 | €8,616 | €12,955 | +€4,340 | +50.4% |
| Taxes | 450/3 | €8,616 | €8,955 | +€340 | +3.9% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €329 | €264 | -€65 | -19.8% |
| Accrued charges and deferred income | 492/3 | - | €173 | +€173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,002 | €9,571 | -€4,431 | -31.6% |
| Other operating charges | 640/8 | €834 | €1,397 | +€563 | +67.4% |
| Gross operating margin | 9900 | -€10,951 | €22,042 | +€32,993 | |
| Operating profit (loss) | 9901 | -€25,787 | €11,074 | +€36,861 | |
| Financial income | 75/76B | €30 | €0 | -€30 | -99.7% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -99.7% |
| Financial charges | 65/66B | €3,705 | €3,537 | -€168 | -4.5% |
| Recurring financial charges | 65 | €3,705 | €3,537 | -€168 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€29,462 | €7,537 | +€36,999 | |
| Income taxes | 67/77 | €695 | €362 | -€333 | -47.9% |
| Profit (loss) for the period | 9904 | -€30,157 | €7,175 | +€37,332 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,157 | €7,175 | +€37,332 |
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 7 November 2026 via checked.be.