ST Expertises: 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 Expertises
Largest movements
- Tangible fixed assets +€36,126
up €36,126 (+270.4%), from €13,360 to €49,486
of which Furniture and vehicles: +€37,367
- Receivables within one year -€8,785
down €8,785 (-51.3%), from €17,109 to €8,324
of which Trade receivables: -€6,277
- Cash -€3,545
down €3,545 (-24.7%), from €14,322 to €10,777
mainly Investment in fixed assets (net) (-€47,385) and Trade debts (-€6,991)
- Debts after one year +€27,257
new in 2025: €27,257
- Trade debts -€6,991
down €6,991 (-90.0%), from €7,772 to €781
- Profit (loss) carried forward +€4,770
up €4,770 (+47.8%), from €9,987 to €14,756
- Current portion of long-term debt +€3,975
up €3,975 (+100.5%), from €3,955 to €7,930
- Other debts -€3,247
down €3,247 (-34.1%), from €9,527 to €6,280
- Gross operating margin +€10,892
up €10,892 (+92.2%), from €11,808 to €22,700
- Depreciation -€3,837
down €3,837 (-25.4%), from €15,096 to €11,259
- Other operating charges +€2,768
up €2,768 (+538.4%), from €514 to €3,283
- Taxes +€2,224
up €2,224 (+838.9%), from €265 to €2,489
- Financial charges +€749
up €749 (+399.9%), from €187 to €936
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 | €44,791 | €68,587 | +€23,796 | +53.1% |
| Fixed assets | 21/28 | €13,360 | €49,486 | +€36,126 | +270.4% |
| Tangible fixed assets | 22/27 | €13,360 | €49,486 | +€36,126 | +270.4% |
| Furniture and vehicles | 24 | €12,119 | €49,486 | +€37,367 | +308.3% |
| Other tangible fixed assets | 26 | €1,241 | - | -€1,241 | |
| Current assets | 29/58 | €31,431 | €19,101 | -€12,330 | -39.2% |
| Amounts receivable within one year | 40/41 | €17,109 | €8,324 | -€8,785 | -51.3% |
| Trade receivables | 40 | €14,114 | €7,837 | -€6,277 | -44.5% |
| Other amounts receivable | 41 | €2,996 | €487 | -€2,508 | -83.7% |
| Cash at bank and in hand | 54/58 | €14,322 | €10,777 | -€3,545 | -24.7% |
| Total equity and liabilities | 10/49 | €44,791 | €68,587 | +€23,796 | +53.1% |
| Equity | 10/15 | €14,987 | €19,756 | +€4,770 | +31.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,987 | €14,756 | +€4,770 | +47.8% |
| Amounts payable | 17/49 | €29,804 | €48,830 | +€19,026 | +63.8% |
| Amounts payable after more than one year | 17 | - | €27,257 | +€27,257 | |
| Financial debts | 170/4 | - | €27,257 | +€27,257 | |
| Amounts payable within one year | 42/48 | €29,804 | €21,573 | -€8,231 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €3,955 | €7,930 | +€3,975 | +100.5% |
| Trade debts | 44 | €7,772 | €781 | -€6,991 | -90.0% |
| Suppliers | 440/4 | €7,772 | €781 | -€6,991 | -90.0% |
| Taxes, remuneration and social security | 45 | €8,551 | €6,582 | -€1,969 | -23.0% |
| Taxes | 450/3 | €6,501 | €5,032 | -€1,469 | -22.6% |
| Remuneration and social security | 454/9 | €2,050 | €1,550 | -€500 | -24.4% |
| Other amounts payable | 47/48 | €9,527 | €6,280 | -€3,247 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,096 | €11,259 | -€3,837 | -25.4% |
| Other operating charges | 640/8 | €514 | €3,283 | +€2,768 | +538.4% |
| Gross operating margin | 9900 | €11,808 | €22,700 | +€10,892 | +92.2% |
| Operating profit (loss) | 9901 | -€3,803 | €8,158 | +€11,960 | |
| Financial income | 75/76B | €84 | €37 | -€47 | -56.1% |
| Recurring financial income | 75 | €84 | €37 | -€47 | -56.1% |
| Financial charges | 65/66B | €187 | €936 | +€749 | +399.9% |
| Recurring financial charges | 65 | €187 | €936 | +€749 | +399.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,906 | €7,259 | +€11,165 | |
| Income taxes | 67/77 | €265 | €2,489 | +€2,224 | +838.9% |
| Profit (loss) for the period | 9904 | -€4,171 | €4,770 | +€8,941 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,171 | €4,770 | +€8,941 |
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 10 October 2026 via checked.be.