M. Stassen: 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.
M. Stassen
Largest movements
- Cash +€26,727
up €26,727 (+248%), from €10,789 to €37,516
mainly Net result for the year (+€57,797) and Depreciation (+€24,266)
- Tangible fixed assets -€24,266
down €24,266 (-4.9%), from €497,765 to €473,499
of which Land and buildings: -€20,588
- Receivables within one year -€12,098
down €12,098 (-45.5%), from €26,619 to €14,521
- Debts after one year -€45,475
down €45,475 (-10.9%), from €415,779 to €370,304
- Other debts +€24,198
new in 2025: €24,198
- Tax, wage and social debts +€6,734
new in 2025: €6,734
- Gross operating margin +€61,560
up €61,560 (+106%), from €57,977 to €119,537
- Taxes +€12,998
up €12,998 (+119%), from €10,943 to €23,941
- Financial charges +€2,029
up €2,029 (+19.6%), from €10,351 to €12,380
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 | €538,655 | €527,081 | -€11,575 | -2.1% |
| Fixed assets | 21/28 | €497,765 | €473,499 | -€24,266 | -4.9% |
| Tangible fixed assets | 22/27 | €497,765 | €473,499 | -€24,266 | -4.9% |
| Land and buildings | 22 | €488,638 | €468,050 | -€20,588 | -4.2% |
| Plant, machinery and equipment | 23 | €673 | €279 | -€394 | -58.5% |
| Furniture and vehicles | 24 | €7,986 | €5,169 | -€2,817 | -35.3% |
| Other tangible fixed assets | 26 | €468 | - | -€468 | |
| Current assets | 29/58 | €40,891 | €53,582 | +€12,692 | +31.0% |
| Amounts receivable within one year | 40/41 | €26,619 | €14,521 | -€12,098 | -45.5% |
| Other amounts receivable | 41 | €26,619 | €14,521 | -€12,098 | -45.5% |
| Cash at bank and in hand | 54/58 | €10,789 | €37,516 | +€26,727 | +248% |
| Deferred charges and accrued income | 490/1 | €3,482 | €1,546 | -€1,937 | -55.6% |
| Total equity and liabilities | 10/49 | €538,655 | €527,081 | -€11,575 | -2.1% |
| Equity | 10/15 | €74,545 | €78,257 | +€3,712 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,085 | €57,797 | +€3,712 | +6.9% |
| Amounts payable | 17/49 | €464,111 | €448,824 | -€15,287 | -3.3% |
| Amounts payable after more than one year | 17 | €415,779 | €370,304 | -€45,475 | -10.9% |
| Financial debts | 170/4 | €415,779 | €370,304 | -€45,475 | -10.9% |
| Amounts payable within one year | 42/48 | €46,766 | €78,453 | +€31,687 | +67.8% |
| Current portion of amounts payable after more than one year | 42 | €44,735 | €45,475 | +€739 | +1.7% |
| Trade debts | 44 | €2,031 | €2,046 | +€15 | +0.8% |
| Suppliers | 440/4 | €2,031 | €2,046 | +€15 | +0.8% |
| Taxes, remuneration and social security | 45 | - | €6,734 | +€6,734 | |
| Taxes | 450/3 | - | €6,734 | +€6,734 | |
| Other amounts payable | 47/48 | - | €24,198 | +€24,198 | |
| Accrued charges and deferred income | 492/3 | €1,566 | €67 | -€1,499 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,724 | €24,266 | -€458 | -1.9% |
| Other operating charges | 640/8 | €1,684 | €1,192 | -€492 | -29.2% |
| Gross operating margin | 9900 | €57,977 | €119,537 | +€61,560 | +106% |
| Operating profit (loss) | 9901 | €31,570 | €94,079 | +€62,509 | +198% |
| Financial income | 75/76B | €0 | €39 | +€38 | +10,656% |
| Recurring financial income | 75 | €0 | €39 | +€38 | +10,656% |
| Financial charges | 65/66B | €10,351 | €12,380 | +€2,029 | +19.6% |
| Recurring financial charges | 65 | €10,351 | €12,380 | +€2,029 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €21,219 | €81,737 | +€60,519 | +285% |
| Income taxes | 67/77 | €10,943 | €23,941 | +€12,998 | +119% |
| Profit (loss) for the period | 9904 | €10,276 | €57,797 | +€47,521 | +462% |
| Profit (loss) for the period to be appropriated | 9905 | €10,276 | €57,797 | +€47,521 | +462% |
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 25 October 2026 via checked.be.