ST-BAVOHOEVE: 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.
ST-BAVOHOEVE
Largest movements
- Cash +€28,227
up €28,227 (+775%), from €3,643 to €31,870
mainly Investment in fixed assets (net) (+€18,000) and Receivables within one year (+€6,299)
- Tangible fixed assets -€21,772
down €21,772 (-16.1%), from €135,070 to €113,298
- Receivables within one year -€6,299
down €6,299 (-44.0%), from €14,316 to €8,017
of which Trade receivables: -€6,299
- Tax, wage and social debts -€4,264
down €4,264 (-48.2%), from €8,839 to €4,575
of which Taxes: -€4,254
- Profit (loss) carried forward +€2,968
up €2,968 (+37.6%), from -€7,884 to -€4,916
- Accrued charges and deferred income +€2,898
up €2,898, from €0 to €2,898
- Depreciation -€6,386
down €6,386 (-62.9%), from €10,157 to €3,772
- Gross operating margin +€4,008
up €4,008 (+56.5%), from €7,097 to €11,105
- Write-downs +€2,859
new in 2025: €2,859
- Financial charges +€549
up €549 (+264%), from €208 to €757
- Staff costs -€377
down €377 (-73.2%), from €516 to €138
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 | €206,276 | €207,117 | +€841 | +0.4% |
| Fixed assets | 21/28 | €135,072 | €113,300 | -€21,772 | -16.1% |
| Intangible fixed assets | 21 | €2 | €2 | = | 0.0% |
| Tangible fixed assets | 22/27 | €135,070 | €113,298 | -€21,772 | -16.1% |
| Plant, machinery and equipment | 23 | €135,070 | €113,298 | -€21,772 | -16.1% |
| Current assets | 29/58 | €71,205 | €93,817 | +€22,612 | +31.8% |
| Stocks and contracts in progress | 3 | €50,883 | €51,668 | +€784 | +1.5% |
| Stocks | 30/36 | €50,883 | €51,668 | +€784 | +1.5% |
| Amounts receivable within one year | 40/41 | €14,316 | €8,017 | -€6,299 | -44.0% |
| Trade receivables | 40 | €12,316 | €6,017 | -€6,299 | -51.1% |
| Other amounts receivable | 41 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,643 | €31,870 | +€28,227 | +775% |
| Deferred charges and accrued income | 490/1 | €2,362 | €2,261 | -€101 | -4.3% |
| Total equity and liabilities | 10/49 | €206,276 | €207,117 | +€841 | +0.4% |
| Equity | 10/15 | €20,360 | €23,328 | +€2,968 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,644 | €9,644 | = | 0.0% |
| Distributable reserves | 133 | €9,644 | €9,644 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,884 | -€4,916 | +€2,968 | +37.6% |
| Amounts payable | 17/49 | €185,916 | €183,788 | -€2,128 | -1.1% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,916 | €160,891 | -€5,026 | -3.0% |
| Trade debts | 44 | €12,965 | €12,199 | -€765 | -5.9% |
| Suppliers | 440/4 | €12,965 | €12,199 | -€765 | -5.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €8,839 | €4,575 | -€4,264 | -48.2% |
| Taxes | 450/3 | €8,830 | €4,575 | -€4,254 | -48.2% |
| Remuneration and social security | 454/9 | €9 | €0 | -€9 | -100% |
| Other amounts payable | 47/48 | €144,113 | €144,116 | +€3 | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €2,898 | +€2,898 | |
| Non-recurring operating income | 76A | - | €8,209 | +€8,209 | |
| Remuneration, social security and pensions | 62 | €516 | €138 | -€377 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,157 | €3,772 | -€6,386 | -62.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,859 | +€2,859 | |
| Other operating charges | 640/8 | €1,076 | €895 | -€181 | -16.8% |
| Non-recurring operating charges | 66A | €17,658 | €0 | -€17,658 | -100% |
| Gross operating margin | 9900 | €7,097 | €11,105 | +€4,008 | +56.5% |
| Operating profit (loss) | 9901 | -€22,309 | €3,441 | +€25,750 | |
| Financial income | 75/76B | €4 | €285 | +€281 | +7,108% |
| Recurring financial income | 75 | €4 | €285 | +€281 | +7,108% |
| Financial charges | 65/66B | €208 | €757 | +€549 | +264% |
| Recurring financial charges | 65 | €208 | €757 | +€549 | +264% |
| Profit (loss) for the period before taxes | 9903 | -€22,513 | €2,968 | +€25,482 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€22,513 | €2,968 | +€25,482 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,513 | €2,968 | +€25,482 |
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 17 October 2026 via checked.be.