ROBERT STANBURY: 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.
ROBERT STANBURY
Largest movements
- Cash +€12,736
up €12,736 (+9.9%), from €128,196 to €140,933
mainly Net result for the year (+€9,862) and Receivables within one year (+€9,308)
- Receivables within one year -€9,308
down €9,308 (-44.9%), from €20,746 to €11,438
of which Trade receivables: -€8,681
- Other debts -€11,373
no longer reported in 2025 (was €11,373)
- Reserves +€9,800
up €9,800 (+29.0%), from €33,739 to €43,539
of which Distributable reserves: +€9,800
- Tax, wage and social debts +€4,572
up €4,572 (+247%), from €1,854 to €6,426
- Financial charges -€3,766
down €3,766 (-55.1%), from €6,837 to €3,071
- Other operating charges +€3,701
up €3,701 (+957%), from €387 to €4,088
- Gross operating margin -€3,153
down €3,153 (-12.7%), from €24,863 to €21,710
- Taxes -€1,598
down €1,598 (-23.4%), from €6,824 to €5,226
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 | €149,313 | €152,687 | +€3,374 | +2.3% |
| Current assets | 29/58 | €149,313 | €152,687 | +€3,374 | +2.3% |
| Amounts receivable within one year | 40/41 | €20,746 | €11,438 | -€9,308 | -44.9% |
| Trade receivables | 40 | €20,001 | €11,320 | -€8,681 | -43.4% |
| Other amounts receivable | 41 | €745 | €118 | -€628 | -84.2% |
| Cash at bank and in hand | 54/58 | €128,196 | €140,933 | +€12,736 | +9.9% |
| Deferred charges and accrued income | 490/1 | €371 | €317 | -€54 | -14.5% |
| Total equity and liabilities | 10/49 | €149,313 | €152,687 | +€3,374 | +2.3% |
| Equity | 10/15 | €135,482 | €145,344 | +€9,862 | +7.3% |
| Contributions | 10/11 | €73,700 | €73,700 | = | 0.0% |
| Reserves | 13 | €33,739 | €43,539 | +€9,800 | +29.0% |
| Non-distributable reserves | 130/1 | €7,577 | €7,577 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,577 | €7,577 | = | 0.0% |
| Distributable reserves | 133 | €26,163 | €35,963 | +€9,800 | +37.5% |
| Profit (loss) carried forward | 14 | €28,043 | €28,105 | +€62 | +0.2% |
| Amounts payable | 17/49 | €13,831 | €7,343 | -€6,488 | -46.9% |
| Amounts payable within one year | 42/48 | €13,831 | €7,343 | -€6,488 | -46.9% |
| Trade debts | 44 | €605 | €917 | +€312 | +51.7% |
| Suppliers | 440/4 | €605 | €917 | +€312 | +51.7% |
| Taxes, remuneration and social security | 45 | €1,854 | €6,426 | +€4,572 | +247% |
| Taxes | 450/3 | €1,854 | €6,426 | +€4,572 | +247% |
| Other amounts payable | 47/48 | €11,373 | - | -€11,373 | |
| Other operating charges | 640/8 | €387 | €4,088 | +€3,701 | +957% |
| Gross operating margin | 9900 | €24,863 | €21,710 | -€3,153 | -12.7% |
| Operating profit (loss) | 9901 | €24,476 | €17,622 | -€6,854 | -28.0% |
| Financial income | 75/76B | €467 | €536 | +€69 | +14.8% |
| Recurring financial income | 75 | €467 | €536 | +€69 | +14.8% |
| Financial charges | 65/66B | €6,837 | €3,071 | -€3,766 | -55.1% |
| Recurring financial charges | 65 | €6,837 | €3,071 | -€3,766 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | €18,107 | €15,088 | -€3,019 | -16.7% |
| Income taxes | 67/77 | €6,824 | €5,226 | -€1,598 | -23.4% |
| Profit (loss) for the period | 9904 | €11,283 | €9,862 | -€1,421 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,283 | €9,862 | -€1,421 | -12.6% |
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 15 October 2026 via checked.be.