SC STABLES: what changed
Two fiscal 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.
SC STABLES
Largest movements
- Cash -€8,170
down €8,170 (-74.3%), from €10,998 to €2,828
mainly Net result for the year (-€70,103) and Investment in fixed assets (net) (-€42,832)
- Tangible fixed assets -€3,724
down €3,724 (-2.4%), from €153,579 to €149,854
of which Furniture and vehicles: -€32,222
- Profit (loss) carried forward -€70,103
down €70,103 (-60.1%), from -€116,635 to -€186,738
- Debts after one year +€30,432
new in 2025: €30,432
- Other debts +€23,428
up €23,428 (+9.6%), from €244,924 to €268,352
- Current portion of long-term debt +€2,867
new in 2025: €2,867
- Tax, wage and social debts +€2,429
new in 2025: €2,429
- Depreciation -€135,421
down €135,421 (-74.4%), from €181,976 to €46,556
- Gross operating margin -€88,333
down €88,333, from €66,077 to -€22,257
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 | €168,061 | €155,381 | -€12,680 | -7.5% |
| Fixed assets | 21/28 | €153,579 | €149,854 | -€3,724 | -2.4% |
| Tangible fixed assets | 22/27 | €153,579 | €149,854 | -€3,724 | -2.4% |
| Plant, machinery and equipment | 23 | €18,298 | €46,795 | +€28,497 | +155.7% |
| Furniture and vehicles | 24 | €135,281 | €103,059 | -€32,222 | -23.8% |
| Current assets | 29/58 | €14,482 | €5,527 | -€8,956 | -61.8% |
| Amounts receivable within one year | 40/41 | €3,484 | €2,698 | -€786 | -22.5% |
| Trade receivables | 40 | €956 | - | -€956 | |
| Other amounts receivable | 41 | €2,528 | €2,698 | +€170 | +6.7% |
| Cash at bank and in hand | 54/58 | €10,998 | €2,828 | -€8,170 | -74.3% |
| Total equity and liabilities | 10/49 | €168,061 | €155,381 | -€12,680 | -7.5% |
| Equity | 10/15 | -€86,635 | -€156,738 | -€70,103 | -80.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Capital | 10 | €30,000 | €30,000 | = | 0.0% |
| Issued capital | 100 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,635 | -€186,738 | -€70,103 | -60.1% |
| Amounts payable | 17/49 | €254,696 | €312,119 | +€57,423 | +22.5% |
| Amounts payable after more than one year | 17 | - | €30,432 | +€30,432 | |
| Financial debts | 170/4 | - | €30,432 | +€30,432 | |
| Amounts payable within one year | 42/48 | €254,696 | €281,687 | +€26,991 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | - | €2,867 | +€2,867 | |
| Trade debts | 44 | €9,772 | €8,038 | -€1,734 | -17.7% |
| Suppliers | 440/4 | €9,772 | €8,038 | -€1,734 | -17.7% |
| Taxes, remuneration and social security | 45 | - | €2,429 | +€2,429 | |
| Taxes | 450/3 | - | €2,429 | +€2,429 | |
| Other amounts payable | 47/48 | €244,924 | €268,352 | +€23,428 | +9.6% |
| Non-recurring operating income | 76A | €131,500 | €26,959 | -€104,541 | -79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,976 | €46,556 | -€135,421 | -74.4% |
| Other operating charges | 640/8 | €484 | €462 | -€22 | -4.6% |
| Gross operating margin | 9900 | €66,077 | -€22,257 | -€88,333 | |
| Operating profit (loss) | 9901 | -€116,384 | -€69,275 | +€47,109 | +40.5% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €251 | €871 | +€620 | +246.7% |
| Recurring financial charges | 65 | €251 | €871 | +€620 | +246.7% |
| Profit (loss) for the period before taxes | 9903 | -€116,635 | -€70,103 | +€46,532 | +39.9% |
| Profit (loss) for the period | 9904 | -€116,635 | -€70,103 | +€46,532 | +39.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€116,635 | -€70,103 | +€46,532 | +39.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.