GEORGES STANY: 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.
GEORGES STANY
Largest movements
- Cash +€71,891
up €71,891 (+63.1%), from €113,907 to €185,797
mainly Net result for the year (+€138,707) and Other debts (+€30,365)
- Reserves +€39,030
up €39,030 (+10.9%), from €357,735 to €396,764
of which Distributable reserves: +€39,030
- Debts after one year -€38,003
no longer reported in 2025 (was €38,003)
- Other debts +€30,365
new in 2025: €30,365
- Tax, wage and social debts +€25,773
up €25,773 (+447%), from €5,765 to €31,539
of which Taxes: +€25,713
- Gross operating margin +€50,284
up €50,284 (+140%), from €35,843 to €86,128
- Taxes +€15,738
up €15,738 (+91.3%), from €17,234 to €32,972
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 | €464,557 | €530,770 | +€66,213 | +14.3% |
| Fixed assets | 21/28 | €266,717 | €265,129 | -€1,588 | -0.6% |
| Tangible fixed assets | 22/27 | €5,425 | €3,838 | -€1,588 | -29.3% |
| Furniture and vehicles | 24 | €5,425 | €3,838 | -€1,588 | -29.3% |
| Financial fixed assets | 28 | €261,291 | €261,291 | = | 0.0% |
| Current assets | 29/58 | €197,840 | €265,641 | +€67,801 | +34.3% |
| Amounts receivable within one year | 40/41 | €77,757 | €78,267 | +€510 | +0.7% |
| Trade receivables | 40 | €13,461 | €71,390 | +€57,929 | +430% |
| Other amounts receivable | 41 | €64,296 | €6,877 | -€57,419 | -89.3% |
| Cash at bank and in hand | 54/58 | €113,907 | €185,797 | +€71,891 | +63.1% |
| Deferred charges and accrued income | 490/1 | €6,176 | €1,577 | -€4,600 | -74.5% |
| Total equity and liabilities | 10/49 | €464,557 | €530,770 | +€66,213 | +14.3% |
| Equity | 10/15 | €378,224 | €420,961 | +€42,737 | +11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €357,735 | €396,764 | +€39,030 | +10.9% |
| Non-distributable reserves | 130/1 | €426 | €426 | = | 0.0% |
| Reserves not available under the articles | 1311 | €426 | €426 | = | 0.0% |
| Distributable reserves | 133 | €357,309 | €396,339 | +€39,030 | +10.9% |
| Profit (loss) carried forward | 14 | €8,089 | €11,797 | +€3,707 | +45.8% |
| Amounts payable | 17/49 | €86,333 | €109,809 | +€23,476 | +27.2% |
| Amounts payable after more than one year | 17 | €38,003 | - | -€38,003 | |
| Financial debts | 170/4 | €38,003 | - | -€38,003 | |
| Amounts payable within one year | 42/48 | €48,329 | €109,809 | +€61,480 | +127% |
| Current portion of amounts payable after more than one year | 42 | €42,518 | €44,744 | +€2,225 | +5.2% |
| Trade debts | 44 | €46 | €3,161 | +€3,116 | +6,827% |
| Suppliers | 440/4 | €46 | €3,161 | +€3,116 | +6,827% |
| Taxes, remuneration and social security | 45 | €5,765 | €31,539 | +€25,773 | +447% |
| Taxes | 450/3 | €3,265 | €28,979 | +€25,713 | +787% |
| Remuneration and social security | 454/9 | €2,500 | €2,560 | +€60 | +2.4% |
| Other amounts payable | 47/48 | - | €30,365 | +€30,365 | |
| Remuneration, social security and pensions | 62 | €8,150 | €8,883 | +€733 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,681 | €1,588 | -€93 | -5.5% |
| Gross operating margin | 9900 | €35,843 | €86,128 | +€50,284 | +140% |
| Operating profit (loss) | 9901 | €26,013 | €75,657 | +€49,644 | +191% |
| Financial income | 75/76B | €100,000 | €100,000 | = | 0.0% |
| Recurring financial income | 75 | €100,000 | €100,000 | = | 0.0% |
| Financial charges | 65/66B | €4,509 | €3,978 | -€531 | -11.8% |
| Recurring financial charges | 65 | €4,509 | €3,978 | -€531 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €121,504 | €171,679 | +€50,175 | +41.3% |
| Income taxes | 67/77 | €17,234 | €32,972 | +€15,738 | +91.3% |
| Profit (loss) for the period | 9904 | €104,271 | €138,707 | +€34,437 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €104,271 | €138,707 | +€34,437 | +33.0% |
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 18 October 2026 via checked.be.