S.T. Projectbouw: 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. Projectbouw
Largest movements
- Stocks and contracts -€994,418
down €994,418 (-55.2%), from €1.8m to €806,230
- Cash +€435,767
up €435,767 (+262%), from €166,140 to €601,906
mainly Stocks and contracts (+€994,418) and Tax, wage and social debts (+€378,110)
- Receivables within one year -€115,834
down €115,834 (-33.0%), from €351,471 to €235,637
of which Trade receivables: -€85,870
- Other debts -€926,734
down €926,734 (-75.6%), from €1.2m to €298,911
- Tax, wage and social debts +€378,110
up €378,110 (+430%), from €88,021 to €466,132
- Short-term financial debts -€300,000
down €300,000 (-71.4%), from €420,000 to €120,000
- Current portion of long-term debt +€78,819
up €78,819 (+336%), from €23,434 to €102,253
- Reserves +€59,026
up €59,026 (+31.2%), from €189,321 to €248,347
- Gross operating margin +€344,368
up €344,368 (+285%), from €120,926 to €465,294
- Taxes +€101,092
up €101,092 (+14,730%), from €686 to €101,778
- Financial charges -€52,693
down €52,693 (-46.7%), from €112,744 to €60,051
- Depreciation -€15,811
down €15,811 (-47.3%), from €33,416 to €17,606
- Financial income -€13,178
down €13,178 (-44.8%), from €29,405 to €16,227
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 | €2,381,723 | €1,673,316 | -€708,407 | -29.7% |
| Fixed assets | 21/28 | €38,866 | €23,460 | -€15,407 | -39.6% |
| Tangible fixed assets | 22/27 | €27,496 | €12,089 | -€15,407 | -56.0% |
| Plant, machinery and equipment | 23 | €2,679 | €3,647 | +€968 | +36.1% |
| Furniture and vehicles | 24 | €24,817 | €8,442 | -€16,374 | -66.0% |
| Financial fixed assets | 28 | €11,370 | €11,370 | = | 0.0% |
| Current assets | 29/58 | €2,342,857 | €1,649,857 | -€693,001 | -29.6% |
| Stocks and contracts in progress | 3 | €1,800,648 | €806,230 | -€994,418 | -55.2% |
| Stocks | 30/36 | €1,800,648 | €806,230 | -€994,418 | -55.2% |
| Amounts receivable within one year | 40/41 | €351,471 | €235,637 | -€115,834 | -33.0% |
| Trade receivables | 40 | €302,157 | €216,288 | -€85,870 | -28.4% |
| Other amounts receivable | 41 | €49,314 | €19,349 | -€29,965 | -60.8% |
| Cash at bank and in hand | 54/58 | €166,140 | €601,906 | +€435,767 | +262% |
| Deferred charges and accrued income | 490/1 | €24,599 | €6,084 | -€18,515 | -75.3% |
| Total equity and liabilities | 10/49 | €2,381,723 | €1,673,316 | -€708,407 | -29.7% |
| Equity | 10/15 | €289,321 | €348,347 | +€59,026 | +20.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €189,321 | €248,347 | +€59,026 | +31.2% |
| Distributable reserves | 133 | €189,321 | €248,347 | +€59,026 | +31.2% |
| Amounts payable | 17/49 | €2,092,402 | €1,324,969 | -€767,433 | -36.7% |
| Amounts payable after more than one year | 17 | €2,253 | - | -€2,253 | |
| Financial debts | 170/4 | €2,253 | - | -€2,253 | |
| Amounts payable within one year | 42/48 | €2,086,325 | €1,324,574 | -€761,751 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €23,434 | €102,253 | +€78,819 | +336% |
| Financial debts | 43 | €420,000 | €120,000 | -€300,000 | -71.4% |
| Credit institutions | 430/8 | €420,000 | €120,000 | -€300,000 | -71.4% |
| Trade debts | 44 | €329,224 | €337,278 | +€8,054 | +2.4% |
| Suppliers | 440/4 | €329,224 | €337,278 | +€8,054 | +2.4% |
| Taxes, remuneration and social security | 45 | €88,021 | €466,132 | +€378,110 | +430% |
| Taxes | 450/3 | €88,021 | €466,132 | +€378,110 | +430% |
| Other amounts payable | 47/48 | €1,225,646 | €298,911 | -€926,734 | -75.6% |
| Accrued charges and deferred income | 492/3 | €3,824 | €395 | -€3,429 | -89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,416 | €17,606 | -€15,811 | -47.3% |
| Other operating charges | 640/8 | €2,081 | €1,760 | -€321 | -15.4% |
| Non-recurring operating charges | 66A | - | €1,301 | +€1,301 | |
| Gross operating margin | 9900 | €120,926 | €465,294 | +€344,368 | +285% |
| Operating profit (loss) | 9901 | €85,429 | €444,628 | +€359,199 | +420% |
| Financial income | 75/76B | €29,405 | €16,227 | -€13,178 | -44.8% |
| Recurring financial income | 75 | €29,405 | €16,227 | -€13,178 | -44.8% |
| Financial charges | 65/66B | €112,744 | €60,051 | -€52,693 | -46.7% |
| Recurring financial charges | 65 | €112,744 | €60,051 | -€52,693 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €2,090 | €400,804 | +€398,714 | +19,076% |
| Income taxes | 67/77 | €686 | €101,778 | +€101,092 | +14,730% |
| Profit (loss) for the period | 9904 | €1,404 | €299,026 | +€297,622 | +21,200% |
| Profit (loss) for the period to be appropriated | 9905 | €1,404 | €299,026 | +€297,622 | +21,200% |
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.