GO UP STELLING & ECHAFAUDAGES: what changed
GO UP STELLING & ECHAFAUDAGES
Largest movements
- Tangible fixed assets +€43,727
up €43,727 (+18,851%), from €232 to €43,959
of which Leasing and similar rights: +€43,959
- Cash -€34,177
down €34,177 (-48.5%), from €70,509 to €36,332
mainly Trade debts (-€55,268) and Investment in fixed assets (net) (-€46,300)
- Receivables within one year -€28,179
down €28,179 (-44.7%), from €63,040 to €34,861
of which Trade receivables: -€37,131
- Trade debts -€55,268
down €55,268 (-98.7%), from €55,985 to €717
- Debts after one year +€32,940
new in 2025: €32,940
- Current portion of long-term debt +€9,565
new in 2025: €9,565
- Tax, wage and social debts -€3,827
down €3,827 (-17.8%), from €21,496 to €17,668
of which Remuneration and social security: -€2,426
- Gross operating margin -€33,846
down €33,846 (-28.9%), from €116,916 to €83,070
- Staff costs -€6,617
down €6,617 (-7.8%), from €85,372 to €78,755
- Taxes -€5,580
down €5,580 (-84.2%), from €6,628 to €1,048
- Depreciation +€2,259
up €2,259 (+721%), from €313 to €2,573
- Other operating charges -€1,416
down €1,416 (-63.0%), from €2,247 to €832
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 | €135,560 | €117,751 | -€17,808 | -13.1% |
| Fixed assets | 21/28 | €232 | €43,959 | +€43,727 | +18,851% |
| Tangible fixed assets | 22/27 | €232 | €43,959 | +€43,727 | +18,851% |
| Furniture and vehicles | 24 | €232 | €0 | -€232 | -100% |
| Leasing and similar rights | 25 | - | €43,959 | +€43,959 | |
| Current assets | 29/58 | €135,328 | €73,792 | -€61,536 | -45.5% |
| Amounts receivable within one year | 40/41 | €63,040 | €34,861 | -€28,179 | -44.7% |
| Trade receivables | 40 | €63,040 | €25,909 | -€37,131 | -58.9% |
| Other amounts receivable | 41 | - | €8,952 | +€8,952 | |
| Cash at bank and in hand | 54/58 | €70,509 | €36,332 | -€34,177 | -48.5% |
| Deferred charges and accrued income | 490/1 | €1,779 | €2,599 | +€820 | +46.1% |
| Total equity and liabilities | 10/49 | €135,560 | €117,751 | -€17,808 | -13.1% |
| Equity | 10/15 | €58,067 | €56,847 | -€1,219 | -2.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,067 | €46,847 | -€1,219 | -2.5% |
| Amounts payable | 17/49 | €77,493 | €60,904 | -€16,589 | -21.4% |
| Amounts payable after more than one year | 17 | - | €32,940 | +€32,940 | |
| Financial debts | 170/4 | - | €32,940 | +€32,940 | |
| Amounts payable within one year | 42/48 | €77,493 | €27,963 | -€49,530 | -63.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,565 | +€9,565 | |
| Trade debts | 44 | €55,985 | €717 | -€55,268 | -98.7% |
| Suppliers | 440/4 | €55,985 | €717 | -€55,268 | -98.7% |
| Taxes, remuneration and social security | 45 | €21,496 | €17,668 | -€3,827 | -17.8% |
| Taxes | 450/3 | €7,659 | €6,258 | -€1,401 | -18.3% |
| Remuneration and social security | 454/9 | €13,836 | €11,410 | -€2,426 | -17.5% |
| Other amounts payable | 47/48 | €13 | €13 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €85,372 | €78,755 | -€6,617 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €2,573 | +€2,259 | +721% |
| Other operating charges | 640/8 | €2,247 | €832 | -€1,416 | -63.0% |
| Gross operating margin | 9900 | €116,916 | €83,070 | -€33,846 | -28.9% |
| Operating profit (loss) | 9901 | €28,984 | €911 | -€28,073 | -96.9% |
| Financial charges | 65/66B | €121 | €1,082 | +€961 | +796% |
| Recurring financial charges | 65 | €121 | €1,082 | +€961 | +796% |
| Profit (loss) for the period before taxes | 9903 | €28,863 | -€172 | -€29,035 | |
| Income taxes | 67/77 | €6,628 | €1,048 | -€5,580 | -84.2% |
| Profit (loss) for the period | 9904 | €22,235 | -€1,219 | -€23,454 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,235 | -€1,219 | -€23,454 |
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 8 November 2026 via checked.be.