ST BUSINESS: 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 BUSINESS
Largest movements
- Stocks and contracts +€8,444
new in 2025: €8,444
- Receivables within one year -€3,868
down €3,868 (-27.9%), from €13,876 to €10,008
of which Trade receivables: -€2,727
- Cash +€1,757
up €1,757 (+15.1%), from €11,603 to €13,360
mainly Net result for the year (+€5,747) and Receivables within one year (+€3,868)
- Profit (loss) carried forward +€5,747
up €5,747 (+422%), from €1,363 to €7,110
- Advances received -€2,895
down €2,895 (-22.3%), from €12,965 to €10,070
- Trade debts +€1,868
up €1,868 (+644%), from €290 to €2,158
- Tax, wage and social debts +€1,779
up €1,779 (+348%), from €511 to €2,289
- Taxes +€1,049
up €1,049 (+205%), from €511 to €1,560
- Gross operating margin -€568
down €568 (-5.5%), from €10,293 to €9,725
- Other operating charges +€455
up €455 (+31.8%), from €1,430 to €1,885
- Financial charges +€313
up €313 (+143%), from €220 to €533
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 | €28,329 | €34,663 | +€6,334 | +22.4% |
| Fixed assets | 21/28 | €2,850 | €2,850 | = | 0.0% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €25,479 | €31,813 | +€6,334 | +24.9% |
| Stocks and contracts in progress | 3 | - | €8,444 | +€8,444 | |
| Stocks | 30/36 | - | €8,444 | +€8,444 | |
| Amounts receivable within one year | 40/41 | €13,876 | €10,008 | -€3,868 | -27.9% |
| Trade receivables | 40 | €12,198 | €9,471 | -€2,727 | -22.4% |
| Other amounts receivable | 41 | €1,678 | €537 | -€1,141 | -68.0% |
| Cash at bank and in hand | 54/58 | €11,603 | €13,360 | +€1,757 | +15.1% |
| Total equity and liabilities | 10/49 | €28,329 | €34,663 | +€6,334 | +22.4% |
| Equity | 10/15 | €7,363 | €13,110 | +€5,747 | +78.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,363 | €7,110 | +€5,747 | +422% |
| Amounts payable | 17/49 | €20,966 | €21,553 | +€587 | +2.8% |
| Amounts payable within one year | 42/48 | €20,802 | €21,553 | +€751 | +3.6% |
| Trade debts | 44 | €290 | €2,158 | +€1,868 | +644% |
| Suppliers | 440/4 | €290 | €2,158 | +€1,868 | +644% |
| Advances received on contracts in progress | 46 | €12,965 | €10,070 | -€2,895 | -22.3% |
| Taxes, remuneration and social security | 45 | €511 | €2,289 | +€1,779 | +348% |
| Taxes | 450/3 | €511 | €2,289 | +€1,779 | +348% |
| Other amounts payable | 47/48 | €7,036 | €7,036 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €164 | - | -€164 | |
| Other operating charges | 640/8 | €1,430 | €1,885 | +€455 | +31.8% |
| Gross operating margin | 9900 | €10,293 | €9,725 | -€568 | -5.5% |
| Operating profit (loss) | 9901 | €8,863 | €7,840 | -€1,023 | -11.5% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €220 | €533 | +€313 | +143% |
| Recurring financial charges | 65 | €220 | €533 | +€313 | +143% |
| Profit (loss) for the period before taxes | 9903 | €8,650 | €7,307 | -€1,343 | -15.5% |
| Income taxes | 67/77 | €511 | €1,560 | +€1,049 | +205% |
| Profit (loss) for the period | 9904 | €8,139 | €5,747 | -€2,393 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,139 | €5,747 | -€2,393 | -29.4% |
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 18 October 2026 via checked.be.