ST Bouw: 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 Bouw
Largest movements
- Stocks and contracts +€266,620
up €266,620 (+659%), from €40,451 to €307,071
- Receivables within one year -€39,882
down €39,882 (-47.8%), from €83,372 to €43,489
of which Trade receivables: -€35,193
- Cash -€26,832
down €26,832 (-15.8%), from €170,243 to €143,411
mainly Stocks and contracts (-€266,620) and Trade debts (-€20,460)
- Debts after one year +€191,956
new in 2025: €191,956
- Reserves +€22,694
up €22,694 (+7.6%), from €299,597 to €322,291
of which Distributable reserves: +€22,694
- Trade debts -€20,460
down €20,460 (-31.0%), from €65,965 to €45,504
- Gross operating margin +€6,404
up €6,404 (+3.3%), from €191,220 to €197,624
- Financial charges +€6,060
up €6,060 (+159%), from €3,808 to €9,867
- Financial income +€2,959
up €2,959 (+55.3%), from €5,349 to €8,307
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 | €384,047 | €584,988 | +€200,941 | +52.3% |
| Fixed assets | 21/28 | €38,819 | €39,596 | +€778 | +2.0% |
| Tangible fixed assets | 22/27 | €37,319 | €38,096 | +€778 | +2.1% |
| Plant, machinery and equipment | 23 | €21,179 | €16,397 | -€4,782 | -22.6% |
| Furniture and vehicles | 24 | €16,140 | €20,042 | +€3,903 | +24.2% |
| Other tangible fixed assets | 26 | - | €1,657 | +€1,657 | |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €345,229 | €545,392 | +€200,163 | +58.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €40,451 | €307,071 | +€266,620 | +659% |
| Stocks | 30/36 | €40,451 | €307,071 | +€266,620 | +659% |
| Amounts receivable within one year | 40/41 | €83,372 | €43,489 | -€39,882 | -47.8% |
| Trade receivables | 40 | €78,663 | €43,470 | -€35,193 | -44.7% |
| Other amounts receivable | 41 | €4,708 | €19 | -€4,689 | -99.6% |
| Cash at bank and in hand | 54/58 | €170,243 | €143,411 | -€26,832 | -15.8% |
| Deferred charges and accrued income | 490/1 | €1,164 | €1,421 | +€257 | +22.1% |
| Total equity and liabilities | 10/49 | €384,047 | €584,988 | +€200,941 | +52.3% |
| Equity | 10/15 | €305,797 | €328,491 | +€22,694 | +7.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €299,597 | €322,291 | +€22,694 | +7.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €297,737 | €320,431 | +€22,694 | +7.6% |
| Amounts payable | 17/49 | €78,250 | €256,497 | +€178,247 | +228% |
| Amounts payable after more than one year | 17 | - | €191,956 | +€191,956 | |
| Financial debts | 170/4 | - | €191,956 | +€191,956 | |
| Amounts payable within one year | 42/48 | €78,250 | €64,541 | -€13,709 | -17.5% |
| Trade debts | 44 | €65,965 | €45,504 | -€20,460 | -31.0% |
| Suppliers | 440/4 | €65,965 | €45,504 | -€20,460 | -31.0% |
| Taxes, remuneration and social security | 45 | €8,497 | €11,977 | +€3,480 | +41.0% |
| Taxes | 450/3 | €764 | €4,675 | +€3,911 | +512% |
| Remuneration and social security | 454/9 | €7,733 | €7,302 | -€431 | -5.6% |
| Other amounts payable | 47/48 | €3,788 | €7,059 | +€3,271 | +86.4% |
| Non-recurring operating income | 76A | - | €17,708 | +€17,708 | |
| Remuneration, social security and pensions | 62 | €145,007 | €143,820 | -€1,187 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,619 | €16,272 | +€1,653 | +11.3% |
| Other operating charges | 640/8 | €3,115 | €2,906 | -€209 | -6.7% |
| Gross operating margin | 9900 | €191,220 | €197,624 | +€6,404 | +3.3% |
| Operating profit (loss) | 9901 | €28,478 | €34,625 | +€6,147 | +21.6% |
| Financial income | 75/76B | €5,349 | €8,307 | +€2,959 | +55.3% |
| Recurring financial income | 75 | €5,349 | €8,307 | +€2,959 | +55.3% |
| Financial charges | 65/66B | €3,808 | €9,867 | +€6,060 | +159% |
| Recurring financial charges | 65 | €3,808 | €9,867 | +€6,060 | +159% |
| Profit (loss) for the period before taxes | 9903 | €30,018 | €33,065 | +€3,046 | +10.1% |
| Income taxes | 67/77 | €10,764 | €10,371 | -€394 | -3.7% |
| Profit (loss) for the period | 9904 | €19,254 | €22,694 | +€3,440 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,254 | €22,694 | +€3,440 | +17.9% |
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.