S.T.D. MAINTENANCE: 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.D. MAINTENANCE
Largest movements
- Stocks and contracts -€174,351
down €174,351 (-45.5%), from €383,203 to €208,852
- Tangible fixed assets -€20,416
down €20,416 (-88.5%), from €23,062 to €2,646
of which Furniture and vehicles: -€19,500
- Receivables within one year -€19,420
down €19,420 (-13.8%), from €140,414 to €120,994
of which Trade receivables: -€38,195
- Short-term financial debts -€257,201
down €257,201 (-85.5%), from €300,989 to €43,788
- Other debts +€124,735
up €124,735 (+54.2%), from €230,067 to €354,801
- Debts after one year -€32,399
down €32,399 (-19.1%), from €170,034 to €137,635
of which Financial debts: -€32,399
- Tax, wage and social debts -€32,325
down €32,325 (-28.7%), from €112,486 to €80,161
of which Remuneration and social security: -€91,758
- Trade debts -€10,386
down €10,386 (-7.9%), from €132,135 to €121,749
- Staff costs -€346,512
down €346,512 (-80.7%), from €429,393 to €82,881
- Gross operating margin -€288,308
down €288,308 (-70.2%), from €410,567 to €122,259
- Financial charges -€32,497
down €32,497 (-50.5%), from €64,362 to €31,866
- Other operating charges -€15,307
down €15,307 (-74.2%), from €20,626 to €5,319
- Depreciation -€13,729
down €13,729 (-73.7%), from €18,623 to €4,894
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 | €569,728 | €347,474 | -€222,255 | -39.0% |
| Fixed assets | 21/28 | €24,819 | €3,612 | -€21,207 | -85.4% |
| Intangible fixed assets | 21 | €1,610 | €966 | -€644 | -40.0% |
| Tangible fixed assets | 22/27 | €23,062 | €2,646 | -€20,416 | -88.5% |
| Plant, machinery and equipment | 23 | €2,873 | €1,957 | -€916 | -31.9% |
| Furniture and vehicles | 24 | €20,189 | €689 | -€19,500 | -96.6% |
| Financial fixed assets | 28 | €147 | - | -€147 | |
| Current assets | 29/58 | €544,910 | €343,862 | -€201,048 | -36.9% |
| Stocks and contracts in progress | 3 | €383,203 | €208,852 | -€174,351 | -45.5% |
| Stocks | 30/36 | €383,203 | €208,852 | -€174,351 | -45.5% |
| Amounts receivable within one year | 40/41 | €140,414 | €120,994 | -€19,420 | -13.8% |
| Trade receivables | 40 | €138,626 | €100,431 | -€38,195 | -27.6% |
| Other amounts receivable | 41 | €1,788 | €20,563 | +€18,775 | +1,050% |
| Cash at bank and in hand | 54/58 | €14,030 | €12,174 | -€1,856 | -13.2% |
| Deferred charges and accrued income | 490/1 | €7,262 | €1,842 | -€5,420 | -74.6% |
| Total equity and liabilities | 10/49 | €569,728 | €347,474 | -€222,255 | -39.0% |
| Equity | 10/15 | -€417,212 | -€419,859 | -€2,648 | -0.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €25,250 | €25,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€507,462 | -€510,109 | -€2,648 | -0.5% |
| Amounts payable | 17/49 | €986,940 | €767,333 | -€219,607 | -22.3% |
| Amounts payable after more than one year | 17 | €170,034 | €137,635 | -€32,399 | -19.1% |
| Financial debts | 170/4 | €112,034 | €79,635 | -€32,399 | -28.9% |
| Other amounts payable | 178/9 | €58,000 | €58,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €816,906 | €629,698 | -€187,208 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €34,419 | €29,199 | -€5,220 | -15.2% |
| Financial debts | 43 | €300,989 | €43,788 | -€257,201 | -85.5% |
| Credit institutions | 430/8 | €300,989 | €43,788 | -€257,201 | -85.5% |
| Trade debts | 44 | €132,135 | €121,749 | -€10,386 | -7.9% |
| Suppliers | 440/4 | €132,135 | €121,749 | -€10,386 | -7.9% |
| Advances received on contracts in progress | 46 | €6,810 | - | -€6,810 | |
| Taxes, remuneration and social security | 45 | €112,486 | €80,161 | -€32,325 | -28.7% |
| Taxes | 450/3 | €9,525 | €68,958 | +€59,433 | +624% |
| Remuneration and social security | 454/9 | €102,961 | €11,203 | -€91,758 | -89.1% |
| Other amounts payable | 47/48 | €230,067 | €354,801 | +€124,735 | +54.2% |
| Remuneration, social security and pensions | 62 | €429,393 | €82,881 | -€346,512 | -80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,623 | €4,894 | -€13,729 | -73.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,453 | - | -€3,453 | |
| Other operating charges | 640/8 | €20,626 | €5,319 | -€15,307 | -74.2% |
| Gross operating margin | 9900 | €410,567 | €122,259 | -€288,308 | -70.2% |
| Operating profit (loss) | 9901 | -€61,527 | €29,165 | +€90,692 | |
| Financial income | 75/76B | €0 | €819 | +€819 | +4,096,150% |
| Recurring financial income | 75 | €0 | €819 | +€819 | +4,096,150% |
| Financial charges | 65/66B | €64,362 | €31,866 | -€32,497 | -50.5% |
| Recurring financial charges | 65 | €64,362 | €31,866 | -€32,497 | -50.5% |
| Profit (loss) for the period before taxes | 9903 | -€125,889 | -€1,881 | +€124,008 | +98.5% |
| Income taxes | 67/77 | €1,263 | €766 | -€497 | -39.3% |
| Profit (loss) for the period | 9904 | -€127,153 | -€2,648 | +€124,505 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€127,153 | -€2,648 | +€124,505 | +97.9% |
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 21 October 2026 via checked.be.