S.T.C.: 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.
S.T.C.
Largest movements
- Tangible fixed assets -€83,055
down €83,055 (-3.6%), from €2.3m to €2.2m
of which Land and buildings: -€80,227
- Cash -€37,964
down €37,964 (-74.9%), from €50,698 to €12,734
mainly Net result for the year (-€69,017) and Other debts (-€49,458)
- Profit (loss) carried forward -€61,743
down €61,743 (-2.7%), from €2.3m to €2.2m
- Other debts -€49,458
down €49,458 (-12.2%), from €404,203 to €354,745
- Financial charges +€203,809
up €203,809, from -€190,000 to €13,810
- Gross operating margin +€66,223
up €66,223 (+355%), from €18,640 to €84,862
- Financial income -€13,707
down €13,707 (-100.0%), from €13,707 to €0
- Other operating charges +€2,762
up €2,762 (+11.4%), from €24,250 to €27,012
- Depreciation +€2,592
up €2,592 (+2.3%), from €110,466 to €113,057
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 | €3,106,686 | €2,996,237 | -€110,450 | -3.6% |
| Fixed assets | 21/28 | €3,050,122 | €2,967,067 | -€83,055 | -2.7% |
| Tangible fixed assets | 22/27 | €2,284,474 | €2,201,419 | -€83,055 | -3.6% |
| Land and buildings | 22 | €1,969,404 | €1,889,177 | -€80,227 | -4.1% |
| Plant, machinery and equipment | 23 | €204,327 | €214,715 | +€10,388 | +5.1% |
| Furniture and vehicles | 24 | €31,851 | €18,636 | -€13,215 | -41.5% |
| Assets under construction and advance payments | 27 | €78,892 | €78,892 | = | 0.0% |
| Financial fixed assets | 28 | €765,648 | €765,648 | = | 0.0% |
| Current assets | 29/58 | €56,564 | €29,170 | -€27,395 | -48.4% |
| Amounts receivable within one year | 40/41 | €4,648 | €15,141 | +€10,493 | +226% |
| Trade receivables | 40 | - | €2,924 | +€2,924 | |
| Other amounts receivable | 41 | €4,648 | €12,217 | +€7,569 | +163% |
| Cash at bank and in hand | 54/58 | €50,698 | €12,734 | -€37,964 | -74.9% |
| Deferred charges and accrued income | 490/1 | €1,218 | €1,294 | +€76 | +6.2% |
| Total equity and liabilities | 10/49 | €3,106,686 | €2,996,237 | -€110,450 | -3.6% |
| Equity | 10/15 | €2,467,844 | €2,398,827 | -€69,017 | -2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Reserves | 13 | €123,363 | €116,088 | -€7,274 | -5.9% |
| Non-distributable reserves | 130/1 | €19,096 | €19,096 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,096 | €19,096 | = | 0.0% |
| Tax-exempt reserves | 132 | €104,267 | €96,992 | -€7,274 | -7.0% |
| Profit (loss) carried forward | 14 | €2,282,482 | €2,220,739 | -€61,743 | -2.7% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €638,842 | €597,409 | -€41,433 | -6.5% |
| Amounts payable within one year | 42/48 | €638,323 | €596,890 | -€41,433 | -6.5% |
| Financial debts | 43 | €225,000 | €240,000 | +€15,000 | +6.7% |
| Credit institutions | 430/8 | €225,000 | €240,000 | +€15,000 | +6.7% |
| Trade debts | 44 | €9,120 | €2,145 | -€6,975 | -76.5% |
| Suppliers | 440/4 | €9,120 | €2,145 | -€6,975 | -76.5% |
| Other amounts payable | 47/48 | €404,203 | €354,745 | -€49,458 | -12.2% |
| Accrued charges and deferred income | 492/3 | €519 | €519 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,466 | €113,057 | +€2,592 | +2.3% |
| Other operating charges | 640/8 | €24,250 | €27,012 | +€2,762 | +11.4% |
| Gross operating margin | 9900 | €18,640 | €84,862 | +€66,223 | +355% |
| Operating profit (loss) | 9901 | -€116,076 | -€55,207 | +€60,869 | +52.4% |
| Financial income | 75/76B | €13,707 | €0 | -€13,707 | -100.0% |
| Recurring financial income | 75 | €13,707 | €0 | -€13,707 | -100.0% |
| Financial charges | 65/66B | -€190,000 | €13,810 | +€203,809 | |
| Recurring financial charges | 65 | -€190,000 | €13,810 | +€203,809 | |
| Profit (loss) for the period before taxes | 9903 | €87,630 | -€69,017 | -€156,647 | |
| Profit (loss) for the period | 9904 | €87,630 | -€69,017 | -€156,647 | |
| Transfer from tax-exempt reserves | 789 | €7,274 | €7,274 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,905 | -€61,743 | -€156,647 |
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 13 October 2026 via checked.be.