S.T.V.: 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.V.
Largest movements
- Tangible fixed assets -€13,488
down €13,488 (-2.6%), from €516,118 to €502,630
- Cash +€9,457
up €9,457 (+50.8%), from €18,621 to €28,078
mainly Net result for the year (+€24,184) and Other debts (+€21,243)
- Debts after one year -€25,130
down €25,130 (-9.6%), from €260,666 to €235,535
of which Financial debts: -€22,026
- Other debts +€21,243
up €21,243 (+88.5%), from €24,000 to €45,243
- Reserves +€6,184
up €6,184 (+3.8%), from €161,231 to €167,415
of which Distributable reserves: +€6,184
- Trade debts -€6,076
down €6,076 (-80.9%), from €7,506 to €1,430
- Financial charges +€6,127
up €6,127 (+142%), from €4,317 to €10,444
- Taxes +€2,061
new in 2025: €2,061
- Gross operating margin +€1,449
up €1,449 (+2.9%), from €50,462 to €51,911
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 | €537,424 | €537,767 | +€343 | +0.1% |
| Fixed assets | 21/28 | €516,118 | €502,630 | -€13,488 | -2.6% |
| Tangible fixed assets | 22/27 | €516,118 | €502,630 | -€13,488 | -2.6% |
| Land and buildings | 22 | €516,118 | €502,630 | -€13,488 | -2.6% |
| Current assets | 29/58 | €21,306 | €35,137 | +€13,831 | +64.9% |
| Amounts receivable within one year | 40/41 | €2,000 | €6,351 | +€4,351 | +218% |
| Trade receivables | 40 | - | €4,412 | +€4,412 | |
| Other amounts receivable | 41 | €2,000 | €1,939 | -€61 | -3.1% |
| Cash at bank and in hand | 54/58 | €18,621 | €28,078 | +€9,457 | +50.8% |
| Deferred charges and accrued income | 490/1 | €685 | €709 | +€24 | +3.5% |
| Total equity and liabilities | 10/49 | €537,424 | €537,767 | +€343 | +0.1% |
| Equity | 10/15 | €222,731 | €228,915 | +€6,184 | +2.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €161,231 | €167,415 | +€6,184 | +3.8% |
| Non-distributable reserves | 130/1 | €13,568 | €13,568 | = | 0.0% |
| Legal reserve | 130 | €13,568 | €13,568 | = | 0.0% |
| Distributable reserves | 133 | €147,663 | €153,847 | +€6,184 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €314,692 | €308,852 | -€5,841 | -1.9% |
| Amounts payable after more than one year | 17 | €260,666 | €235,535 | -€25,130 | -9.6% |
| Financial debts | 170/4 | €178,553 | €156,527 | -€22,026 | -12.3% |
| Other amounts payable | 178/9 | €82,113 | €79,008 | -€3,105 | -3.8% |
| Amounts payable within one year | 42/48 | €54,027 | €73,016 | +€18,989 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €21,590 | €23,842 | +€2,251 | +10.4% |
| Trade debts | 44 | €7,506 | €1,430 | -€6,076 | -80.9% |
| Suppliers | 440/4 | €7,506 | €1,430 | -€6,076 | -80.9% |
| Taxes, remuneration and social security | 45 | €930 | €2,500 | +€1,570 | +169% |
| Taxes | 450/3 | €930 | €2,500 | +€1,570 | +169% |
| Other amounts payable | 47/48 | €24,000 | €45,243 | +€21,243 | +88.5% |
| Accrued charges and deferred income | 492/3 | €0 | €301 | +€301 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,627 | €13,488 | -€139 | -1.0% |
| Other operating charges | 640/8 | €1,672 | €1,734 | +€61 | +3.7% |
| Gross operating margin | 9900 | €50,462 | €51,911 | +€1,449 | +2.9% |
| Operating profit (loss) | 9901 | €35,163 | €36,689 | +€1,526 | +4.3% |
| Financial charges | 65/66B | €4,317 | €10,444 | +€6,127 | +142% |
| Recurring financial charges | 65 | €4,317 | €10,444 | +€6,127 | +142% |
| Profit (loss) for the period before taxes | 9903 | €30,847 | €26,245 | -€4,601 | -14.9% |
| Income taxes | 67/77 | - | €2,061 | +€2,061 | |
| Profit (loss) for the period | 9904 | €30,847 | €24,184 | -€6,663 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,847 | €24,184 | -€6,663 | -21.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.