S.T. Engineering Management: 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. Engineering Management
Largest movements
- Receivables within one year -€93,847
down €93,847 (-46.3%), from €202,715 to €108,867
of which Other amounts receivable: -€88,290
- Current investments +€20,000
new in 2025: €20,000
- Cash -€8,076
down €8,076 (-10.0%), from €81,111 to €73,035
mainly Contributions, distributions and other (-€188,410) and Current investments (-€20,000)
- Profit (loss) carried forward -€90,319
down €90,319 (-45.8%), from €197,377 to €107,058
- Short-term financial debts +€12,565
new in 2025: €12,565
- Tax, wage and social debts -€7,012
down €7,012 (-16.4%), from €42,705 to €35,693
- Trade debts +€4,035
up €4,035 (+334.5%), from €1,206 to €5,241
- Gross operating margin +€47,706
up €47,706 (+58.2%), from €81,916 to €129,623
- Taxes +€17,058
up €17,058 (+93.6%), from €18,229 to €35,286
- Financial income +€3,391
up €3,391 (+99.8%), from €3,397 to €6,788
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.
Cash bridge derived
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 | €287,359 | €206,628 | -€80,732 | -28.1% |
| Fixed assets | 21/28 | €3,112 | €1,677 | -€1,435 | -46.1% |
| Tangible fixed assets | 22/27 | €3,112 | €1,677 | -€1,435 | -46.1% |
| Plant, machinery and equipment | 23 | €1,565 | €1,153 | -€412 | -26.3% |
| Furniture and vehicles | 24 | €1,547 | €524 | -€1,023 | -66.1% |
| Current assets | 29/58 | €284,247 | €204,951 | -€79,297 | -27.9% |
| Amounts receivable within one year | 40/41 | €202,715 | €108,867 | -€93,847 | -46.3% |
| Trade receivables | 40 | €80,279 | €74,721 | -€5,557 | -6.9% |
| Other amounts receivable | 41 | €122,436 | €34,146 | -€88,290 | -72.1% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €81,111 | €73,035 | -€8,076 | -10.0% |
| Deferred charges and accrued income | 490/1 | €422 | €3,049 | +€2,627 | +622.8% |
| Total equity and liabilities | 10/49 | €287,359 | €206,628 | -€80,732 | -28.1% |
| Equity | 10/15 | €243,339 | €153,020 | -€90,319 | -37.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,962 | €40,962 | = | 0.0% |
| Distributable reserves | 133 | €40,962 | €40,962 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,377 | €107,058 | -€90,319 | -45.8% |
| Amounts payable | 17/49 | €44,020 | €53,608 | +€9,588 | +21.8% |
| Amounts payable within one year | 42/48 | €43,911 | €53,499 | +€9,588 | +21.8% |
| Financial debts | 43 | - | €12,565 | +€12,565 | |
| Credit institutions | 430/8 | - | €12,565 | +€12,565 | |
| Trade debts | 44 | €1,206 | €5,241 | +€4,035 | +334.5% |
| Suppliers | 440/4 | €1,206 | €5,241 | +€4,035 | +334.5% |
| Taxes, remuneration and social security | 45 | €42,705 | €35,693 | -€7,012 | -16.4% |
| Taxes | 450/3 | €42,705 | €35,693 | -€7,012 | -16.4% |
| Accrued charges and deferred income | 492/3 | €109 | €109 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,435 | €1,435 | = | 0.0% |
| Other operating charges | 640/8 | €1,331 | €1,318 | -€13 | -1.0% |
| Gross operating margin | 9900 | €81,916 | €129,623 | +€47,706 | +58.2% |
| Operating profit (loss) | 9901 | €79,151 | €126,870 | +€47,719 | +60.3% |
| Financial income | 75/76B | €3,397 | €6,788 | +€3,391 | +99.8% |
| Recurring financial income | 75 | €3,397 | €6,788 | +€3,391 | +99.8% |
| Financial charges | 65/66B | €351 | €281 | -€70 | -19.9% |
| Recurring financial charges | 65 | €351 | €281 | -€70 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €82,197 | €133,377 | +€51,180 | +62.3% |
| Income taxes | 67/77 | €18,229 | €35,286 | +€17,058 | +93.6% |
| Profit (loss) for the period | 9904 | €63,968 | €98,091 | +€34,123 | +53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,968 | €98,091 | +€34,123 | +53.3% |
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 12 October 2026 via checked.be.