FRANCESCA STUER: 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.
FRANCESCA STUER
Largest movements
- Cash +€14,458
up €14,458 (+31.4%), from €46,024 to €60,482
mainly Net result for the year (+€55,747) and Other debts (+€15,066)
- Receivables within one year -€5,777
down €5,777 (-20.4%), from €28,379 to €22,602
of which Other amounts receivable: -€4,244
- Tangible fixed assets +€2,820
up €2,820 (+123%), from €2,295 to €5,115
of which Furniture and vehicles: +€4,240
- Other debts +€15,066
up €15,066 (+29.9%), from €50,388 to €65,454
- Tax, wage and social debts -€2,254
down €2,254 (-100%), from €2,254 to €0
of which Taxes: -€2,254
- Gross operating margin +€10,240
up €10,240 (+14.4%), from €71,002 to €81,242
- Depreciation +€2,828
up €2,828 (+158%), from €1,793 to €4,621
- Taxes +€1,708
up €1,708 (+9.9%), from €17,254 to €18,962
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.
Derived cash bridge
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 | €76,898 | €88,398 | +€11,501 | +15.0% |
| Fixed assets | 21/28 | €2,495 | €5,315 | +€2,820 | +113% |
| Tangible fixed assets | 22/27 | €2,295 | €5,115 | +€2,820 | +123% |
| Plant, machinery and equipment | 23 | €2,049 | €630 | -€1,420 | -69.3% |
| Furniture and vehicles | 24 | €246 | €4,485 | +€4,240 | +1,725% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €74,403 | €83,084 | +€8,681 | +11.7% |
| Amounts receivable within one year | 40/41 | €28,379 | €22,602 | -€5,777 | -20.4% |
| Trade receivables | 40 | €17,559 | €16,026 | -€1,533 | -8.7% |
| Other amounts receivable | 41 | €10,820 | €6,576 | -€4,244 | -39.2% |
| Cash at bank and in hand | 54/58 | €46,024 | €60,482 | +€14,458 | +31.4% |
| Total equity and liabilities | 10/49 | €76,898 | €88,398 | +€11,501 | +15.0% |
| Equity | 10/15 | €21,493 | €21,034 | -€459 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,434 | €2,434 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,434 | €2,434 | = | 0.0% |
| Profit (loss) carried forward | 14 | €459 | €0 | -€459 | -100% |
| Amounts payable | 17/49 | €55,404 | €67,364 | +€11,960 | +21.6% |
| Amounts payable within one year | 42/48 | €55,404 | €67,364 | +€11,960 | +21.6% |
| Trade debts | 44 | €2,763 | €1,911 | -€852 | -30.8% |
| Suppliers | 440/4 | €2,763 | €1,911 | -€852 | -30.8% |
| Taxes, remuneration and social security | 45 | €2,254 | €0 | -€2,254 | -100% |
| Taxes | 450/3 | €2,254 | €0 | -€2,254 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €50,388 | €65,454 | +€15,066 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,793 | €4,621 | +€2,828 | +158% |
| Other operating charges | 640/8 | €188 | €592 | +€404 | +214% |
| Gross operating margin | 9900 | €71,002 | €81,242 | +€10,240 | +14.4% |
| Operating profit (loss) | 9901 | €69,021 | €76,029 | +€7,008 | +10.2% |
| Financial income | 75/76B | €667 | €410 | -€257 | -38.6% |
| Recurring financial income | 75 | €667 | €410 | -€257 | -38.6% |
| Financial charges | 65/66B | €1,587 | €1,730 | +€143 | +9.0% |
| Recurring financial charges | 65 | €1,587 | €1,730 | +€143 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €68,101 | €74,709 | +€6,607 | +9.7% |
| Income taxes | 67/77 | €17,254 | €18,962 | +€1,708 | +9.9% |
| Profit (loss) for the period | 9904 | €50,847 | €55,747 | +€4,900 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €50,847 | €55,747 | +€4,900 | +9.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.